BuzzVault Home Insurance

bristolleedsfan

I was wondering what the risks are ( if any), any negative aspect (if any) to taking out Buildings Cover via -


https://gobuzzvault.com/about-us

sal_III

The underwriter is Munich Re Group, which appears to be quite big. So I wouldn't worry much about the backing.

How good their terms and customer service is, is a different matter. On the face of it, they don't seem that much riskier that any of the dozens small insurers on the comparison sites.

Tried for a quote, content only. Only got asked for address and the standard disclaimer that you don't have CCJs, etc and got this:

Unfortunately, we cannot offer you insurance at this time.
If you have questions, you can email us or call 0800 060 8462

Guess they can't insure my address, but why not just say so. Not a good start

sal_III

buzzvault wrote: »

Hi sal_III,

We're so sorry to hear that you weren't successful with retrieving a quote 💔

There are a number of different factors we take into account when providing quotes, these can include but are not limited to; Listed buildings, Mobile homes, buildings where the walls are made of cob, buildings with any part of the roof thatched, Properties in the Channel Islands, flooding zones, and high theft areas.

However, we are working on including these properties as we grow.

Hopefully in the future we'll be of more help to you.

In the meantime, we wish you all the best!
buzzvault customer service team

Mine is none of the above, there are zero averse points and have never had issues getting quotes from dozens of insurers via comparison sites or directs.

I was curious to get a quote and check the terms / options available.

Don't get it how you can create the policy and presumably set the premium, before making the video survey and establish the value of the possessions in the property. How does it work

stphnstevey

bristolleedsfan wrote: »

I was wondering what the risks are ( if any), any negative aspect (if any) to taking out Buildings Cover via -


https://gobuzzvault.com/about-us

I am also considering

Quoted £110, but with £80 TCB, making it arround £30

Says video call though within 28 days of start. Imagine this is where they push the price up by saying your not covered for items. Price says can go up during policy depending on what you add to vault. So for contents, good chance likely to go up. Not sure if you can then cancel if find not a fair comparison to other quotes. Maybe in the 14 day cooling off period its better to do the video call to make sure they are not offering low price to reel you in and increasing when real assessment done

Buildings insurance seems fairly standard, guess they can't make that go up later as the basic information is easy to enter (address, rebuild cost etc)

They seem to offer the same cashback for solely Buildings Insurance, so might go with them for just Buildings and go elsewhere for Contents, so side stepping the potential increase in premium due to "vault" part. I can also seemingly get £30 cashback with Gocompare for solely contents, which brings it down to about £15

So combining both, paying about £20 for Buildings and Contents (vs about £30 if went B&C with Buzzvault)
Caveat that get CB with both, if not, then £130 ish, which is not bad

buzzvaultCustomerServices

Hi stphnstevey,

Thanks for your post about buzzvault, we wanted to answer your questions around whether the video call would trigger any price changes to your policy. In short, you will only incur an additional cost if you decide to add any items to your policy that are valued over £1,500, after receiving your first quote.

The purpose of the video call is to ensure you have the right level of cover and it serves as proof of ownership for items under £5,000, should you need to make a claim in the future. (Additional evidence is required for items exceeding £5,000 in value).

In addition, you have the ability to add or remove items to your insurance policy via your vault app throughout the term of your policy. Prices can go up or down depending on the adjustments you make.

If for any reason you are ever unhappy, you can also cancel your policy at any time, and we don't charge fees for making changes to your policy or cancelling.

Please don't hesitate to get in touch if you have any other questions.
The buzz team

csgohan4

buzzvaultCustomerServices wrote: »

Hi stphnstevey,

Thanks for your post about buzzvault, we wanted to answer your questions around whether the video call would trigger any price changes to your policy. In short, you will only incur an additional cost if you decide to add any items to your policy that are valued over £1,500, after receiving your first quote.

The purpose of the video call is to ensure you have the right level of cover and it serves as proof of ownership for items under £5,000, should you need to make a claim in the future. (Additional evidence is required for items exceeding £5,000 in value).

In addition, you have the ability to add or remove items to your insurance policy via your vault app throughout the term of your policy. Prices can go up or down depending on the adjustments you make.

If for any reason you are ever unhappy, you can also cancel your policy at any time, and we don't charge fees for making changes to your policy or cancelling.

Please don't hesitate to get in touch if you have any other questions.
The buzz team

You might want to contact the forum team as I believe you need permission to do so if your from the company

https://www.moneysavingexpert.com/site/forum-faqs/?_ga=2.179606947.645735308.1578571939-1594938981.1562232264#companies

Former_MSE_Tine

Hi, the company has asked for a right of reply. MSE doesn't endorse anything a company says on the Forum:
"Hi bristolleedsfan, it's buzzvault customer services here
Just wanted to reassure you that buzzvault is regulated by the Financial Conduct Authority. You can find full company details by visiting the FCA register and using our reference number 796481.We're also underwritten by Great Lakes Insurance SE, who are part of the Munich Re Group, one of the worlds leading reinsurers.Hope this information helps!
If you have any other questions please give us a call any time Monday to Friday, between 9am-5pm on 0203 318 4408, email us at hello@gobuzzvault.com, or drop a message to one of our agents on live chat via our website.
Best,
buzzvault customer service team"

"Hi Sal_III,
We're more than happy to look in to this for you and provide a more detailed understanding. If you'd like to reach out to our team directly please feel free to give us a call any time Monday to Friday, between 9am-5pm on 0203 318 4408, email us at hello@gobuzzvault.com, or drop a message to one of our agents on live chat via our website.
Our policy cost is determined using the information customers provide during their quote process so it's not based on any presumptions. Then we use the video call (post purchasing a policy), to validate that our customers have the right level of cover, but also importantly so that any future claims are quick and easy as our video evidence can act as proof of ownership.Hope this information helps!
Best,
buzzvault customer service team"