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House Insurance - Specified Item+Contents Question
humfer
Posts: 1,779 Forumite
Just looking at renewing my home insurance and halifax looks pretty cheap at the moment. Just have a couple of questions
(1) Specified items. States need to do this if item over £1500. My wifes diamond ring is the only thing close to this. We bought it last year for £1420 as it was in a promotion and was originally £1895. Assume I need to cover for the £1895 even though its pretty much constantly on offer at the lower price? This along adds about £30 to the policy
(2) Just reading through the terms and conditions and noticed the following statement under contents. 'We will cover contents for - Theft or attempted theft; We will not cover contents for - Loss or damager cuased while your home is unoccupied'. What exactly does this mean? If I get burgled when I'm not there am I not covered? Or is this related to if it happens outside the period I state within the policy as longer unocccupied period, i.e. 3 weeks?
(1) Specified items. States need to do this if item over £1500. My wifes diamond ring is the only thing close to this. We bought it last year for £1420 as it was in a promotion and was originally £1895. Assume I need to cover for the £1895 even though its pretty much constantly on offer at the lower price? This along adds about £30 to the policy
(2) Just reading through the terms and conditions and noticed the following statement under contents. 'We will cover contents for - Theft or attempted theft; We will not cover contents for - Loss or damager cuased while your home is unoccupied'. What exactly does this mean? If I get burgled when I'm not there am I not covered? Or is this related to if it happens outside the period I state within the policy as longer unocccupied period, i.e. 3 weeks?
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Comments
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Hi there
1, The ring needs to be insured for its replacement value. If its retail value is £1,895 then that is what it should be insured for. It's the retail value that is important rather than any "special offer" price.
2. "Unoccupied" is defined in Halifax's on line policy wording as: When your home has not been lived in by you or any of your family for more than 30 days in a row.
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