Home Insurers with low excess on Accidental Damage

Psyclist

Hi all,

I've been looking at taking out a new Home Insurance policy over the last few weeks and I'm getting really frustrated with the results.

The information seems to be almost impossible to find until you actually get to the point where you can see the policy documents, and I'm struggling to find an insurer which doesn't impose a mandatory excess of at least £250 on any claims for accidental damage on contents.

I realise the insurance companies must have pushed this up with so many households being full of gadgets and gizmos that cost anywhere up to £200 to get them out of having to pay for them if they are broken, but that's what we pay our insurance premiums for is it not?

Does anyone know of any insurers who don't take the proverbial with their excesses for AD on contents?

Appreciate your help.

K

eddddy

It may not be a good idea to make claims on your home insurance for amounts as small as £200 (or even to mention losses that small to your insurance company).

The increased premiums for up to 5 years following the claims will probably outweigh the payouts that you get.

paddyandstumpy

Try someone like LV or Direct Line.

You'll prob find most insurers default excess is £250, but this can be reduced to normally £100.

Or, if you want to go lower (and this is most definately not a recommendation as I can't stand their business model; but Saga will allow you to reduce the excess to £0. But you'll pay for that in premium!)

Also, I agree with the above. Small claims for avoidable losses like A/D to an iPad will incur heavily loads for the next 5 years.

Home insurance was designed to protect against catastrophic or large losses, not little claims.

Blibble

I think that some trading names of UK Insurance can go down to £50, as well as Legal and General (IIRC), but before taking out the policy it would be worth doing a dummy quote with an AD claim on your history and without one to see the difference in premiums if you did claim over 5 years, and what is and isn't economical to claim on.

Blibble

Natwest & RBS (UK Insurance) used to do an essentials policy for £25.00 per claim, but bear in mind they had a total sum insured (contents) of £20,000 which for most people wouldn't be anywhere near enough if everything in your house were to go up in smoke. They also have a single-article limit of £750.00 per item unless you specify anything higher than this which can be reflected in a rise in premium payments.

Nasqueron

Having a really low excess would also encourage people to "accidentally" break their old kit and claim for a new one under the new for old policy