Possible contents insurance error

monaymadlol

Hi wondered if you could help.

I used a comparison site in July for my contents insurance renewal. Nationwide, who I also bank with, came out cheapest. Like a third or quarter what I was expecting.

I have a number of high value items which I listed and valued into the quote.

I paid up. I received email confirmation but had to log in to get my documents.

I couldn't log in for some reason to my portal, and didn't get round to following up til this week.

I call them and they emailed me documents. It had all my details but none of the high value goods were named in the document.

I will call to find out if they are on a separate document, but I have a feeling they won't be, hence why the premium (which I paid in full) was so low.

If it as I suspect, why could this have occurred? I've used a comparison before and listed all the high value goods which they always take into consideration? It appears possibly missed off?

And if this is the case, is this year nullified in terms of no claims discount? Would I have to cancel (and get all or some of my money back) and start a fresh quote?

I'll obviously call And check tomorrow, but wondering my options.

Many thanks

Sandtree

This is why the aggregator sites always say to check the quote on the seller's site before buying.

NCD is not a very developed idea in Home insurance, most insurers do not ask how much "NCD" you have but instead how many continuous years of insurance you have and how many claims in the last 3-5 years. If you happen to go with the minority that do have something more explicitly called NCD you dont earn a part year however if its more traditional and you've had a part year in the past you can legitimately say you've had home insurance for 8 years 2 months (or whatever the duration) inc this 6 months.

Different insurers take different approaches in what items need to be declared... the cheapo providers tend to want absolutely anything worth more than £1,000 listed whereas the high end providers only want jewellery, art and precious metals items listed if they are over £15,000. Many insurers are somewhere between the two but aggregators have to deal with the lowest common denominator and so ask for almost everything with the assumption that those not interested will ignore those items outside of their area.

With Nationwide it appears you only need to list "Valuables" (jewellery, watches and items containing gold, silver or platinum) that are over £2,000 so are the items you listed within that definition or things like laptops that don't need to be listed?

monaymadlol

Sandtree said:

This is why the aggregator sites always say to check the quote on the seller's site before buying.

NCD is not a very developed idea in Home insurance, most insurers do not ask how much "NCD" you have but instead how many continuous years of insurance you have and how many claims in the last 3-5 years. If you happen to go with the minority that do have something more explicitly called NCD you dont earn a part year however if its more traditional and you've had a part year in the past you can legitimately say you've had home insurance for 8 years 2 months (or whatever the duration) inc this 6 months.

Different insurers take different approaches in what items need to be declared... the cheapo providers tend to want absolutely anything worth more than £1,000 listed whereas the high end providers only want jewellery, art and precious metals items listed if they are over £15,000. Many insurers are somewhere between the two but aggregators have to deal with the lowest common denominator and so ask for almost everything with the assumption that those not interested will ignore those items outside of their area.

With Nationwide it appears you only need to list "Valuables" (jewellery, watches and items containing gold, silver or platinum) that are over £2,000 so are the items you listed within that definition or things like laptops that don't need to be listed?

Hi thanks for your message.

I spoke to them and double checked the documents. It seems it's 'unlimited' cover as long as it's not gold, jewellery etc (mine is artwork).

And as a customer, I got 25% off.

I've not had any claims, but still cheaper than I have paid in the past.

So looks like I'm ok.

Very strange given cheap price and not having to itemize each item, but the agent said just keep documents, photos of each item.

Just have to take their word for it.

Sandtree

monaymadlol said:
I spoke to them and double checked the documents. It seems it's 'unlimited' cover as long as it's not gold, jewellery etc (mine is artwork).

And as a customer, I got 25% off.

I've not had any claims, but still cheaper than I have paid in the past.

So looks like I'm ok.

Very strange given cheap price and not having to itemize each item, but the agent said just keep documents, photos of each item.

Just have to take their word for it.

Its been highlighted before that the policy is slightly unusual... some of the inner limits (alternative accommodation, personal possessions) are relatively modest (but probably perfectly sufficient for most) and they probably hope this stops people with large Banksy collections etc from buying it.

One large loss could change that though.

Marvel1

monaymadlol said:

Sandtree said:

This is why the aggregator sites always say to check the quote on the seller's site before buying.

NCD is not a very developed idea in Home insurance, most insurers do not ask how much "NCD" you have but instead how many continuous years of insurance you have and how many claims in the last 3-5 years. If you happen to go with the minority that do have something more explicitly called NCD you dont earn a part year however if its more traditional and you've had a part year in the past you can legitimately say you've had home insurance for 8 years 2 months (or whatever the duration) inc this 6 months.

Different insurers take different approaches in what items need to be declared... the cheapo providers tend to want absolutely anything worth more than £1,000 listed whereas the high end providers only want jewellery, art and precious metals items listed if they are over £15,000. Many insurers are somewhere between the two but aggregators have to deal with the lowest common denominator and so ask for almost everything with the assumption that those not interested will ignore those items outside of their area.

With Nationwide it appears you only need to list "Valuables" (jewellery, watches and items containing gold, silver or platinum) that are over £2,000 so are the items you listed within that definition or things like laptops that don't need to be listed?

Hi thanks for your message.

I spoke to them and double checked the documents. It seems it's 'unlimited' cover as long as it's not gold, jewellery etc (mine is artwork).

And as a customer, I got 25% off.

I've not had any claims, but still cheaper than I have paid in the past.

So looks like I'm ok.

Very strange given cheap price and not having to itemize each item, but the agent said just keep documents, photos of each item.

Just have to take their word for it.

Note the time and date of the call for future reference.