A Paupers Pension Tale (Not many nuts to dig up)

gambleruk

Somebody said:

What are the insured values and excess for house insurance at £54pa? The cheapest premium I’ve come across. 

Building is unlimited and contents £250k with Quotemehappy, I just renewed last year at that price as the year before was similar but had £20 discount from Moneysupermarket.

Albermarle

gambleruk said:

Somebody said:

What are the insured values and excess for house insurance at £54pa? The cheapest premium I’ve come across. 

Building is unlimited and contents £250k with Quotemehappy, I just renewed last year at that price as the year before was similar but had £20 discount from Moneysupermarket.

£74 per year for buildings, and a very high contents insurance still seems exceptionally low.
Out of interest I just entered my details on Quoteme happy and it was a low quote of £200 pa, with £50K contents. When I put £250 K in it said it could not quote on that amount.
Still will include them next time my renewal comes around.

gambleruk

Albermarle said:

gambleruk said:

Somebody said:

What are the insured values and excess for house insurance at £54pa? The cheapest premium I’ve come across. 

Building is unlimited and contents £250k with Quotemehappy, I just renewed last year at that price as the year before was similar but had £20 discount from Moneysupermarket.

£74 per year for buildings, and a very high contents insurance still seems exceptionally low.
Out of interest I just entered my details on Quoteme happy and it was a low quote of £200 pa, with £50K contents. When I put £250 K in it said it could not quote on that amount.
Still will include them next time my renewal comes around.

I have no idea why it is so low, I have had house insurance for over 30 years and never claimed so maybe that helps ? I was surprised when the renewal was virtually the same as the previous year, due in May so will let you know what it is later in the year, just checked and it was £200k contents not £250k, Buildings cover £31.70 and contents £22.83 looking at the breakdown.

NedS

gambleruk said:

Albermarle said:

gambleruk said:

Somebody said:

What are the insured values and excess for house insurance at £54pa? The cheapest premium I’ve come across. 

Building is unlimited and contents £250k with Quotemehappy, I just renewed last year at that price as the year before was similar but had £20 discount from Moneysupermarket.

£74 per year for buildings, and a very high contents insurance still seems exceptionally low.
Out of interest I just entered my details on Quoteme happy and it was a low quote of £200 pa, with £50K contents. When I put £250 K in it said it could not quote on that amount.
Still will include them next time my renewal comes around.

I have no idea why it is so low, I have had house insurance for over 30 years and never claimed so maybe that helps ? I was surprised when the renewal was virtually the same as the previous year, due in May so will let you know what it is later in the year, just checked and it was £200k contents not £250k, Buildings cover £31.70 and contents £22.83 looking at the breakdown.

I would assume quotes are largely driven by postcode areas and crime rates, assuming the house is not built on a flood plain or has known subsidence etc. Looking back at my own records, we paid £94 with £30 cash back (£64 total) last year and renewed this year at £95 (down from £125 after 2mins haggling on phone) for £500k buildings and £50k contents. I tend to accept anything under £100 as being reasonable.

barnstar2077

NedS said:

gambleruk said:

Albermarle said:

gambleruk said:

Somebody said:

What are the insured values and excess for house insurance at £54pa? The cheapest premium I’ve come across. 

Building is unlimited and contents £250k with Quotemehappy, I just renewed last year at that price as the year before was similar but had £20 discount from Moneysupermarket.

£74 per year for buildings, and a very high contents insurance still seems exceptionally low.
Out of interest I just entered my details on Quoteme happy and it was a low quote of £200 pa, with £50K contents. When I put £250 K in it said it could not quote on that amount.
Still will include them next time my renewal comes around.

I have no idea why it is so low, I have had house insurance for over 30 years and never claimed so maybe that helps ? I was surprised when the renewal was virtually the same as the previous year, due in May so will let you know what it is later in the year, just checked and it was £200k contents not £250k, Buildings cover £31.70 and contents £22.83 looking at the breakdown.

I would assume quotes are largely driven by postcode areas and crime rates, assuming the house is not built on a flood plain or has known subsidence etc. Looking back at my own records, we paid £94 with £30 cash back (£64 total) last year and renewed this year at £95 (down from £125 after 2mins haggling on phone) for £500k buildings and £50k contents. I tend to accept anything under £100 as being reasonable.

Wow, and I thought I was doing well at £152 for the year!  Building up to £500k, contents up to £75k and a £500 deductible (voluntary excess.)  No claims in the last twenty years.

Albermarle

barnstar2077 said:

NedS said:

gambleruk said:

Albermarle said:

gambleruk said:

Somebody said:

What are the insured values and excess for house insurance at £54pa? The cheapest premium I’ve come across. 

Building is unlimited and contents £250k with Quotemehappy, I just renewed last year at that price as the year before was similar but had £20 discount from Moneysupermarket.

£74 per year for buildings, and a very high contents insurance still seems exceptionally low.
Out of interest I just entered my details on Quoteme happy and it was a low quote of £200 pa, with £50K contents. When I put £250 K in it said it could not quote on that amount.
Still will include them next time my renewal comes around.

I have no idea why it is so low, I have had house insurance for over 30 years and never claimed so maybe that helps ? I was surprised when the renewal was virtually the same as the previous year, due in May so will let you know what it is later in the year, just checked and it was £200k contents not £250k, Buildings cover £31.70 and contents £22.83 looking at the breakdown.

I would assume quotes are largely driven by postcode areas and crime rates, assuming the house is not built on a flood plain or has known subsidence etc. Looking back at my own records, we paid £94 with £30 cash back (£64 total) last year and renewed this year at £95 (down from £125 after 2mins haggling on phone) for £500k buildings and £50k contents. I tend to accept anything under £100 as being reasonable.

Wow, and I thought I was doing well at £152 for the year!  Building up to £500k, contents up to £75k and a £500 deductible.  No claims in the last twenty years.

Just checked and mine is £240 with LV =  ( and I did some of checking other offers at the time ) Similar amounts insured to you, but I have added legal expenses, accidental damage and personal belongings cover, which probably adds around £75.
I found a couple of cheaper quotes, but they excluded water damage from leaking pipes etc, which is probably the most likely major thing to happen !

Somebody

What about voluntary excess on the policies?

gambleruk

That could be it as I increased ours up to £500 of memory, might even be more as I have always thought it would have to be something major for me to claim.

NedS

Albermarle said:

barnstar2077 said:

NedS said:

gambleruk said:

Albermarle said:

gambleruk said:

Somebody said:

What are the insured values and excess for house insurance at £54pa? The cheapest premium I’ve come across. 

Building is unlimited and contents £250k with Quotemehappy, I just renewed last year at that price as the year before was similar but had £20 discount from Moneysupermarket.

£74 per year for buildings, and a very high contents insurance still seems exceptionally low.
Out of interest I just entered my details on Quoteme happy and it was a low quote of £200 pa, with £50K contents. When I put £250 K in it said it could not quote on that amount.
Still will include them next time my renewal comes around.

I have no idea why it is so low, I have had house insurance for over 30 years and never claimed so maybe that helps ? I was surprised when the renewal was virtually the same as the previous year, due in May so will let you know what it is later in the year, just checked and it was £200k contents not £250k, Buildings cover £31.70 and contents £22.83 looking at the breakdown.

I would assume quotes are largely driven by postcode areas and crime rates, assuming the house is not built on a flood plain or has known subsidence etc. Looking back at my own records, we paid £94 with £30 cash back (£64 total) last year and renewed this year at £95 (down from £125 after 2mins haggling on phone) for £500k buildings and £50k contents. I tend to accept anything under £100 as being reasonable.

Wow, and I thought I was doing well at £152 for the year!  Building up to £500k, contents up to £75k and a £500 deductible.  No claims in the last twenty years.

Just checked and mine is £240 with LV =  ( and I did some of checking other offers at the time ) Similar amounts insured to you, but I have added legal expenses, accidental damage and personal belongings cover, which probably adds around £75.
I found a couple of cheaper quotes, but they excluded water damage from leaking pipes etc, which is probably the most likely major thing to happen !

I should add that my quotes have all the extras stripped off, so no legal protection, no freezer cover etc - anything that can be removed to keep the quote low has been removed. I see no point claiming for accidental damage to an item that costs £500, only to pay a £350 excess and then my premiums increase by £50/year for the next 5 years having made a claim. It's cheaper to be careful with your possessions and not accidentally break stuff in the first place, and if you do pay the £500 to replace it. By keeping the quote low, we have probably saved more than the £500 over the last 20 years of buying insurance we have never needed. I am paying to insure against catastrophic loss (e.g, house burns down and we lose everything)

barnstar2077

NedS said:

Albermarle said:

barnstar2077 said:

NedS said:

gambleruk said:

Albermarle said:

gambleruk said:

Somebody said:

What are the insured values and excess for house insurance at £54pa? The cheapest premium I’ve come across. 

Building is unlimited and contents £250k with Quotemehappy, I just renewed last year at that price as the year before was similar but had £20 discount from Moneysupermarket.

£74 per year for buildings, and a very high contents insurance still seems exceptionally low.
Out of interest I just entered my details on Quoteme happy and it was a low quote of £200 pa, with £50K contents. When I put £250 K in it said it could not quote on that amount.
Still will include them next time my renewal comes around.

I have no idea why it is so low, I have had house insurance for over 30 years and never claimed so maybe that helps ? I was surprised when the renewal was virtually the same as the previous year, due in May so will let you know what it is later in the year, just checked and it was £200k contents not £250k, Buildings cover £31.70 and contents £22.83 looking at the breakdown.

I would assume quotes are largely driven by postcode areas and crime rates, assuming the house is not built on a flood plain or has known subsidence etc. Looking back at my own records, we paid £94 with £30 cash back (£64 total) last year and renewed this year at £95 (down from £125 after 2mins haggling on phone) for £500k buildings and £50k contents. I tend to accept anything under £100 as being reasonable.

Wow, and I thought I was doing well at £152 for the year!  Building up to £500k, contents up to £75k and a £500 deductible.  No claims in the last twenty years.

Just checked and mine is £240 with LV =  ( and I did some of checking other offers at the time ) Similar amounts insured to you, but I have added legal expenses, accidental damage and personal belongings cover, which probably adds around £75.
I found a couple of cheaper quotes, but they excluded water damage from leaking pipes etc, which is probably the most likely major thing to happen !

I should add that my quotes have all the extras stripped off, so no legal protection, no freezer cover etc - anything that can be removed to keep the quote low has been removed. I see no point claiming for accidental damage to an item that costs £500, only to pay a £350 excess and then my premiums increase by £50/year for the next 5 years having made a claim. It's cheaper to be careful with your possessions and not accidentally break stuff in the first place, and if you do pay the £500 to replace it. By keeping the quote low, we have probably saved more than the £500 over the last 20 years of buying insurance we have never needed. I am paying to insure against catastrophic loss (e.g, house burns down and we lose everything)

This is my view too, I only plan on claiming if the house burns down etc.  You will just end up giving it back to them otherwise.