Home Insurance Discussion

seoiot123

ome insurance, also commonly called hazard insurance or homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
Homeowners policy, is referred to as a multiple-line insurance policy, meaning that it includes both property insurance and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. In the US standard forms divide coverage into several categories, and the coverage provided is typically a percentage of Coverage A, which is coverage for the main dwelling.[1]

Nexus2710

I have just cancelled by buildings and contents insurance which I have held with my mortgage since 2001. My current policy with them expires on 31 December 2013. Since they are charging me £750 for a 2 bed flat, I thought it about time to do a comparison site search and found a better policy for £200!
Having phoned my mortgage provider today, they have advised that they will charge a £25 contingency fee to cancel the insurance.
Can anyone tell me if they can do this?
:mad:

keithwill

i have been with direct line for a year at £8 p/m with a £200 excess,in my renewal the excess is the same as is the p/m payment,but they have added "a claim for damage caused by the escape of water are subject to a compulsory excess of £350",is this usual,i did have a boiler burst a few months ago,but started to claim for carpets but when i took into the account the £200 excess i cancelled the claim,so i was wondering if this is wht they have added the water excess,with all the excesses i may have to go elsewhere but they are cheap,any help would be appreciated.

Quentin

If you do go elsewhere you will have to disclose the burst boiler/damaged carpets incident to any new insurer, so check you won't be going from frying pan to fire.

Quentin

Nexus2710 wrote: »

I have just cancelled by buildings and contents insurance which I have held with my mortgage since 2001. My current policy with them expires on 31 December 2013. Since they are charging me £750 for a 2 bed flat, I thought it about time to do a comparison site search and found a better policy for £200!
Having phoned my mortgage provider today, they have advised that they will charge a £25 contingency fee to cancel the insurance.
Can anyone tell me if they can do this?
:mad:

Ask your new buildings insurer if they will reimburse this (not unusual) charge from your mortgagee.

greenlifeinsurance

i am now searching for websites where i can visit to get insurance rates and quotes from the leading insurance service providers.

rudekid48

greenlifeinsurance wrote: »

i am now searching for websites where i can visit to get insurance rates and quotes from the leading insurance service providers.

Congratulations!! :T You are now ready to move on to page 2 of the spammers guide - here you will find instructions on how to plug your web site in the right country :rotfl:

insurancegreenlife

georgeone wrote: »

I know it has been referred to on previous insurance threads but another reminder cannot go amiss.

Buying the cheapest insurance sounds obviously good. But beware. Just because the marketing morons at many insurers sell only on price, there is nevertheless more to it than that (as the FSA is waking up to - I note Martin is FSA authorised so I assume he is aware that they have expressed concerns to the industry about selling solely on price and whether this is in line with the principle of treating the customer fairly).

Do you want a claim service that pays cash and leaves you to sort out the mess (and find some non-cowboys to do the repairs) or one that provides a managed repairer network that takes care of it for you? Do you want a policy that will let you value the contents of your house and insure those, or one that assumes an average figure for a 3 bed, or 4 bed, or whatever, type of house? These are just a couple of examples to illustrate that you are not buying baked beans here and cheapest is not always best.

Really, Martin, I know it is about saving money, but insurance is one area where value may well be much more important than price. I heard of someone whose house burnt down completely and he rues the day he bought the policy from "insurer A". I had a claim that needed a specialist builder and I was left to my own devices ("get a quote from a builder, we'll approve it, send us the bill, we'll send you a cheque"), when I really wanted an insurer who would send a repairer and take care of it.

Not all policy coverages are the same.
Not all claims services are the same.

Ask and think before you buy on price alone.

(Apples and oranges may be the same price, but when what you really need is a banana ... )

i always compare my policy before purchase.So, that i got best price with maximum facility.

Ken68

Be careful of Swinton, they charge £25 just for printing off renewal papers. I complained but no refund.

Myst24

We are on the last leg of converting a pub into a house and as it was an unliveable building site we had to have renovations insurance. During the build we had tools stolen and also an arson attack and so had to make claims - both the police and the renovation insurance assessor have said that this would not have happened if it was lived in but as it was empty and an obvious building site then that is why it happened. Point being if it was being lived in as a house neither event would have not occurred and so the claims were made against a building site as opposed to a home. Because of being honest and declaring the claims we are finding it impossible to get insurance at an affordable rate. We also live in the fens so it is very hard not to be close to water of some form wether that be a drainage ditch in the nearby field or a full blown cannal - all of which are controlled and the fens is probably the least likely to flood of all places near water, yet because again I am honestly declaring the little field drainage ditch at the side of the property I cant get insurred. Fact is the property is approx. 6 - 8 meters above the tiny trickle at the bottom which goes into a pipe and under houses. The companies are putting us a round peg into a square hole and in effect are comparing unlike circumstances i.e. comparing a building site event with one of a secure house and saying they are the same. We cant afford the £2k insurance quotes we are being given. Direct line are saying that because we claimed at all on the insurance then we are over the limit - what the hell is insurance for if not to claim on if the events you are insuring against actually incur.