Buildings & Contents Insurance Discussion

smeghead_3-2

I am moving home, and am adding contents to my insurance (had nowt worth insuring before).
I got a quote from my current (buildings) insurance company (lloyds) attached to the mortgage lender (C&G) for...
Buildings = £72,000 rebuild
Contents = £15,000
£100 Exess

QUOTE = £418.85

Used Martins tips to get best quote so far is Equity Red Star = £227.03

Now going to change the Policy holder details to put me as Joint and my partner as Primary policy holder and see what happens....

Can I possibly get this insurance down below £200....wish me luck money savers....

smeghead_3-2

smeghead wrote:

I am moving home, and am adding contents to my insurance (had nowt worth insuring before).
I got a quote from my current (buildings) insurance company (lloyds) attached to the mortgage lender (C&G) for...
Buildings = £72,000 rebuild
Contents = £15,000
£100 Exess

QUOTE = £418.85

Used Martins tips to get best quote so far is Equity Red Star = £227.03

Now going to change the Policy holder details to put me as Joint and my partner as Primary policy holder and see what happens....

Can I possibly get this insurance down below £200....wish me luck money savers....

No. She is 38.00 more expensive than me...So off I go to the Equity Red Star website to see if a little more shaving can be done....The mission continues

Uberchuck

As Martin said, follow all four steps and it works. For me it went from £627 down to £144. Thank you!!!

MSE_Martin wrote:

This discussion relates to the following articles

1. Quick Read Four Steps To Cutting Your Bill
2. Full Feature (recommended) Four Steps to Cutting Your Bill

To ask a question, discuss the article or feedback on success/failure just click reply

Addition From Martin

One point I'd really like to make is that you must try and do all FOUR steps of the plan. In this article below Richard put the following feedback through - i thought it a good example of how each step saves.

"This info from Martin could not have come at a better time for us - we had already begun our own time consuming market comparison and had figured that our current Home and Building Insurance provider was not at the lower end of the scale!!

We used the Supermarket website recommended on the feed and up came the sixty or so quotes - some companies better known than others.

Needless to say, we found a much cheaper provider who provided an inital quote of some £130 less than our existing provider. Again - using advice from Moneysavingexpert.com we went into the top 3 sites for a re-quote - another £30 off!!

Then it was time to phone them - the Haggle stage. Having established the background to the company and who the underwriters are a further £25 off !!

You never really know how good any insurance company is until you have to claim - lets hope that stage doesn't arise. "

nemo183

Although I'm always keen to keep my insurance costs down, when it comes to buldings insurance I tend to try and keep with the same company, always assuming the quote is half reasonable.

Why? Because at the back of my mind I have some concerns over some construction issues, and if these ever become serious - as I think they might - I reckon it could save me a load of grief if I've been with the same company every year, rather than swapped each time for the cheapest quote.

Broke_Bloke_2

I'd appreciate it if someone could answer a few questions.......

a) Whats the advantage in having a policy in Joint Names?- last years was in my name (before we got married), and its now cheaper if I use just my wife's name (with the same company- guess thats because they see her as a new cuastomer)

b) If I used my own name on the internet with my current policy company, its a lot cheaper insuring as a 'new' customer than renewing my existing policy. Would companys check that I'm actually a new customer?

TIA

Liza_2

I used the Insuresupermarket.com last year and it was bril.

I am currently remortgaging and have been told by the Halifax that they offer the best home/buildings insurance and although my insurance doesn't expire until October I decided to have another look at Insuresupermarket.

Sure enough the Halifax does come out at one of the top. But my current insurance did not quote, so I went to their website and still it wouldn't quote. So I called them, told them what the Halifax had offered and they came back and requoted at £341.39 less than the Halifax.

Ok so the Halifax offers unlimited cover for rebuilding and contents but my current contents insurance offers £40,000 contents and for rebuilding £500,000 - surely I don't need any higher cover!!

I have yet to call the Halifax and I am sure they will try and sell on the basis of unlimited cover - I think I know which one I will go for!! It just goes to show how you do have to follow the steps as outlined!! :T

Patr100

I got a recent renewal notice from Norwich Union - Buildings & contents for £250 - they were by far the cheapest when I checked others online but decided to get a fresh quote off their site - they are doing 15% off and half price cotents held for two years

I just renewed online for a quote of £188.24 -

-

Lenin_2

Martin,

I would just like to thank you for you helpful advice on this matter.

Tesco's quoted me £365.15 (With a credit charge of 8% APR 15.92% for paying by DD :mad: )

Just gone to Halifax who quoted me £179 with no charge for paying by DD

Cheers :beer:

Lenin

chillipepper_3

well done, we have just moved from HSBC who were charging us £282 for 25K contents cover to Halifax for £109 with unlimited cover, however I did get it a little cheaper due to working for a sister company. But they were still a lot cheaper.

dom

I've got a slightly unusual one that I wonder can anyone help me with. I live in a terraced house divided into 2 flats. I own the freehold for the entire house though, and under the terms of the lease have to insure the whole house. (Luckily the other flat pays 50%!)

It's getting increasingly difficult to find an insurer who'll actually cover this - has anyone else got a similar situation and has someone they can recommend?

Many thanks!