can you help me understand insurance please

DullGreyGuy

triade said:

I read through the terms for Tesco and they say they deduct compulsory excess (£100) from the claim when they pay out, so that is okay.

The price is exceptionally reasonable. Since I had £700 cover from admiral for 4.90p/m, i expected increasing my contents value by a factor of 4 would increase the monthly payments by a factor of 4, but the plan I have with Tesco is costing me 4.68. also, they are giving blanket cover up to 75k, so that certainly covers the value of all my belongings. also, I don't have to adjust anything if I buy a ton of new things or get rid of many things. I also get accidental damage cover. all in all, it feels a lot more comfortable and customer friendly, and is a company I have generally had many good experiences with.

There are floors in premium, something they won't go below no matter how low the risk.

Similarly not all risks increase in line with the value of contents... assuming you dont have any fine art or very expensive jewellery doesnt really matter if your contents is £50,000, £100,000 or £200,000 the average burglar is going to take the same amount of stuff so just because you have 3 sofas rather than 1 or 6 TVs rather than 2 doesnt really move the needle on theft.