Policy Expert to good to be true?

ruggedtoast

I am getting a renewal quote from Admiral of almost £200 for home and contents with full accidental damage and legal which isn't bad compared to other insurers, but Policy Expert are coming in at £125 for what looks like a higher level of cover through a panel insurer something called:

http://www.vfmcover.co.uk/

Too good to be true? They are massively undercutting everyone else and the only way I can get close to this price with a brand name insurer is by cutting cover to the bone.

I know nothing about Policy Expert except that I have had a lot of junk mail from them since they started appearing in my price comparison quotes a couples of years ago.

They seem to have a lot of high ratings on the net for price, but that isnt much help if your house burns down and you actually need to claim!

*Scarlett

You can have a look at defaqto to compare levels of cover. "Policy Expert" appears to have 3 stars which may be adequate.

http://www.defaqto.com/star-ratings/home-insurance?Search=po

The seem to be linked to http://qmetric.co.uk/

I know nothing about these!

It's ultimately up to you who you insure with and what type of cover that you want.

Can I ask what xs fee you have? If you have chosen a highish xs fee do you really want extra accidental damage cover? What type of claims have you made in the past, or what would you want to claim for in the future if there was an incident?

ruggedtoast

£350, I hadn't thought about the excess when claiming for accidental damage actually. Its just something I have always added on.

I believe they are based in Ireland but not sure if you get the same protection that a UK based company would offer.

I.e. house burns down then the insurer cant pay becaise they are bankrupt or wont pay because they are dodgy.

InsideInsurance

The actual insurer is Elite Insurance who are registered in Gibraltar

ruggedtoast

InsideInsurance wrote: »

The actual insurer is Elite Insurance who are registered in Gibraltar

So what does that mean in terms of guarantees?