Building / Contents Insurance questions

homeless9

Hi, first time buyer so new to this. Need to fill out some forms to apply for Buildings / Contents insurance and have some questions:

1. Accidental damage buildings insurance and Accidental damage contents insurance....Do you guys recommend taking this out? Do people typically add these to their insurance policies? Just having a quick read it seems it's probably not necessary for me to take out, but would this be risky?

2. What amount of excess do you guys recommend for a.....£300,000 new build property.

3. What amount of excess do you guys recommend for.....£13,000 worth of contents.

4. Is it recommended to take out insurance cover for legal expenses?

5. Home Emergency cover....I assume I won't need this as I am buying a new build, so I'd be covered for a lot of faults with the property?

SameOldRoundabout

1. I always take out accidental damage cover on both buildings and contents. I have kids and pets, !!!!!! happens. If you put your foot through the ceiling or smash the french doors you can claim. Well worth it IMO. 

2. Excess I always choose £150-200 voluntary, which added to the compulsory gives me and excess of £250-300 for a claim. 

3. £13,000 of contents? Are you sure? If your house burnt to the ground are you sure it’d only cost you that to replace every single item? Sofas, gadgets, curtains, plates, EVERYTHING? 

4. Meh. I never have before. Not sure about anyone else. 

5. I always take this out as it covers for emergency plumbers/locksmiths/trades to fix emergency damage in the event of a break in or massive leak. You may be under a house warranty but in the event of something like a break in and you needing to secure the property immediately you’d have to pay out. 

greatcrested

1) I never do. I know I'll never put my foot through the ceiling. If I had kids I might...

2) high excess. Making a claim for a small amount is not worth doing whatever the excess as it affects future premiums. Buildings cover especially is really for the big things: fire, aircaft crash on the roof..... in which case the excess is the least of your problems

3) same with contents though to a lesser extent.

4) depends what exactly the legal cover includes, and what your circumstances are eg if it includes employment issues, and you have a dodgy employment contract nasty boss etc, it might be useful. Or if you are the personality to get into legal dispute over boundaries with your neighbour (yes, read this forum!)..... but I suspect most people who have legal cover never need it or use it.

5) these often offer limited help. eg my elderly mother had this; outside tap started leaking after a frost; plumber arrived 5 minutes before me and.... turned off the isolation tap. "Emergency resolved". We then had to call/pay a plumber to get the tp fixed.

LilElvis

The legal cover isn't just for issues you might have with your house - it often covers things such as employment disputes and other legal problems you might have as well.

Marvel1

1. I only have accidental buildings, not for contents.
2. I think I have £350 on a £60K house
3. I think I have £350
4. I have it, it's cheap and never know when you need it.
5. I have this with my bank already, although seems a waste as terms differ.

davidmcn

I would take the money-saving view of only insuring for the stuff you couldn't otherwise afford to pay for. Otherwise all you're doing is betting against the insurers, and the odds are stacked in their favour.

homeless9

ok, cool, cheers guys/girls for your feedback.