Home Response 24 - is it worth it?

mlmoneysaver

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Astaroth

Certainly is the correct forum for it.

I personally dont have a product like this at the moment because I am currently in rented accomodation whilst taking a break from property owning.

Whilst direct lines offering is fairly unsual being a stand alone product there are a fair number of home insurers that now bundle this kind of service in to their policies (though obviously with an associated price increase).

Certainly looking at their site - for £2 per month for each catagory of emergency for £1000 cover for parts and labour really doesnt sound a bad price - the level 1 cover is ok as it is frequently the call out fee that cripples you for small fixes but with no parts covered you are still going to have to consider what happens if your boiler dies.

I only know one person who has actually had the policy and made a claim but given the item had broken before taking the policy out I am sure any result that didnt result in a fraud prosecution was going to be a possitive one from his perspective.

gyzmo

Its worth depends on what value you place on the risk. Personally, I would rather save the £8 per month in a bank account and pay out of my own pocket should something happen. Others would be happy paying out the money knowing that they won't have to fork out should something go wrong.

Check exclusions on the policy and look at any warranties that you have for, say, a boiler. You may find that you have cover elsewhere. Also, if, say, the boiler is new, then you would have statutory protection, so there would be no need for other cover for a while.

Astaroth

Absolutally - it is ultimately the same as any other insurance - a risk transfer mechanism, you pay a fixed amount each month for the piece of mind that you dont have to pay anything should the insured events occur.

Comes down to personal choice on if you prefer the risk and savings or a relatively small outgoing and piece of mind

humfer

I would highly recommend Halifax house insurance which gives the option for 'home emergency' cover which for £39.99 covers things like your boiler packing up. Obviously a lot cheaper than the other sort of policys run by the likes of Direct Line and British Gas. You are tied to Halifax, although they worked out cheaper for house/contents insurance for me anyway