House insurance 2 bedroom detached - £370 too much?

boxrick

I have just purchased a detached property and will be exchanging and completing tomorrow after scampering through the various comparison websites cheapest i could find was £350
(full buildings and contents cover of approx 15k contents and a fair few valuable items over £1000 including bikes / pc and TV and av equipment)

The house is worth around 95k and is not in a flood area.

Is this insurance a reasonable amount and is there any point in taking accidental cover on buildings insurance?

Any advice is appreciated!

TEDDYRUKSPIN

The price is normal for the first year as you are considered high risk. New purchases or new movers are considered high at risk of being burgled. Makes sense really. When you move in - you move in all your stuff and most people know what you are buying. You tend to buy new sofas etc etc. So you are considered high risk in the first year. This will drop a big after one year. On the third year without claim, this can drop to around £180 p/year.

Accidental cover? It really depends on what you need it for. If you go into the loft and put your foot through - depending on insurance, you can make a claim.

Check the policy and see what it covers.

themull1

we took out accidental cover, husband came through roof in daughters room, and we claimed no probs.

*Scarlett

Have you had buildings and contents insurance before this or is it the 1st time you are taking out cover?

If you were previously renting you should still get a no claims discount on contents (if you haven't claimed of course).

If you have been rushing through quotes, you may not have got all the discounts applied correctly.

£15k doesn't sound like much for your contents especially if you have a lot of valuables. But only you know how much you need. Some companies don't need you to specify audio-visual equipment as high risk but will name it on the policy for you at no extra charge.

There's no way to say if £370 is good or not. The price would be calculated on many factors - postcode, property type, claims history, security, etc.

It might be that it's the bicycles that are increasing the premium as, if you want these covered away from home they will attract an extra premium. Sometimes this can be quite substantial if they are high value as obviously bikes are at a risk of being stolen. It might be worth trying to find a separate insurance for these.

If you have seen a quote from a company that you like, I would give them a ring. Companies are usually very keen to have your business. You can clarify the cover and I would always ask for an extra discount for doing business with them on the day. You might get it, you might not, but it does no harm to ask!

Good luck!

Hope this helps.

boxrick

Actually it was 20k contents, this seems pretty reasonable to me.

I have been renting for many years but have been on my parents insurance as a student. Now i have left university and purchased a house with my girlfriend.
Its done now anyway most quotes seemed to be £500 upwards from what i tried, so with that in mind £370 seems reasonable.