Buildings Insurance

mikeywills

I have a policy with the prudential which has unlimited cover for buildings, when I lookaround there now seems to be a limit on the value of building insurance, are we better off sticking with our current provider because of the extra cover or are the newer policies just as good.

lisyloo

The other policies will be fine as long as you make sure you aren't underinsured each year.
Clearly therefore the unlimited policy has some value because you don't have to worry about being underinsured.

My wn view is that if the saving is large then you should take the savings, but remeber to review your amount each year.
If the saving is small or you don't want the hassle or you aren't very organised then you might want to stick with the one you have.

mikeywills

This is the concerns I have, its the unknown I have had to claim twice under my home insurance with our current provider and found them to be fantastic, in one case it was for loss of oil, which the loss adjuster advised me that if we had been with all bar four insurers then we would not have been covered.

I do check every year to ensure they keep reasonably competitive, I just wondered how much extra I would be likely to be paying for the uncapped element of our buildings cover.

lisyloo

I just wondered how much extra I would be likely to be paying for the uncapped element of our buildings cover.

I don't think anyone would be able to put a figure on it for you because there are a number of variables, so your best way to find out would be to use a search engine.

However if you have a very good insurer and no limit then that's something worth hanging on to.

jessjess_2

most AXA policies i have dealt with offer some unlimited sums insured on buildings, however this is just a selling point as far as i can tell, they still specify a rebuild cost. sneaky, but a good selling point.