Home Insurance Cost Cutting System/MoneySavingExpert.com Discussion

darky

ads wrote:

Hi,

Has anyone heard about problems with subsidence claims after switching buildings insurance?

I have recently switched buildings insurance and someone has told me that the insurer could weedle out of a claim because the subsidence could have happened before I took the cover out.

I must say that this question is hyperthetical but I'm interested.

Any info would be appreciated.
Ads

If you think you may have an existing problem with subsidence then stick where you are. An insurer is within their rights (quite rightly) to refuse the claim and direct you back to your previous insurer if the subsidence started before the policy was taken out.

The problem you then have is the two insurers fighting over who should pick up the claim and what proportion of it they should pay which makes the process very time consuming and stressful.

HelloThere_3

Please Help me with my home contents Insurance !!!

Ive been searching for the best deal on Home contents insurance and Halifax consistantly comes out cheaper and way below all the others.

Sound good yes? But i have 2 major concerns :

1. Is there sonething in the small print that makes it a bad deal and thats why its cheap, but I dont know what it can be ?? They come ou the cheapest on all the ways Martin has suggested.

2. They also dont even request what amount of contents cover they are covering !!! They say its 'unlimited' they say 'whatever needs replacing at the time' Whereas every other company I chat to, requests for an amount in a bracket eg. £40k, up to £70K etc..

It just sounds too good to be true donest it??? OR am i being to cynical??

Can anyone offer me any advice, Ive only got one week. !!

thank you.

Colin

cattie

No, it's not too good to be true. I've had my buildings & contents insurance with Halifax for many years now & never had a quote from any other company that comes even close to my annual premium. I particularly like the way they do the blanket cover, so you don't have to try to estimate the amount to insure your contents, or the cost of rebuilding your home. Also you can pay the premiums monthly by dd at no additional cost & I understand some insurers charge extra for this facility. I wouldn't hestitate & would take the plunge, seeing as you'll be £'s in pocket.

bargain_2

Have you got a link or phone no for Halifax please.Got asda policy it says buildings up to £179473 would that cover a house for £400,000 or is that to low.

rhartley

ads wrote:

Hi,

Has anyone heard about problems with subsidence claims after switching buildings insurance?

I have recently switched buildings insurance and someone has told me that the insurer could weedle out of a claim because the subsidence could have happened before I took the cover out.

I must say that this question is hyperthetical but I'm interested.

Any info would be appreciated.
Ads

Most insurers subscibe to an agreement to deal with this situation. To quote from the ABI web site:

"If you change your buildings insurer and then discover a subsidence related problem, any claim may be dealt with under the Association of British Insurers΄ Domestic Subsidence Claim Handling Agreement. The agreement sets out which insurers will be responsible for handling any claim. The majority of household insurers subscribe to it. If a claim is made within the first eight weeks of the changeover, the previous insurer will deal with it. Claims between 8 weeks and 1 year will be handled by the new insurer with the cost of settlement shared equally between the two insurers.

Any claims made a year after the changeover means that the new insurer alone will deal with the claim"

Of course, if you are aware of previous damage from subsidence then this must be declared when proposing for new insurance.

Inevitably, frequent changes of insurer will increase the likelihood of a dispute as each new proposal is the start of a new contract and the principle of "utmost good faith" and the disclosure requirement mean there's a chance for a misunderstanding between you and your insurer.

rhartley

darky wrote:

Just been reading a lot of these threads and they nearly all focus on price ......

YOU GET WHAT YOU PAY FOR!!!!!!!

At last, a voice in the wilderness!

Whilst no one wants to be ripped off, the level of price-obsession in some of the posts on this topic seems out of proportion. One person mentioned switching home insurance because they could save £10 a year! Is it really worth all the hassle to change insurer for such a minute saving?

As a few others have pointed out, insurance is simply a promise to pay. If you just want some cheap paper, download a policy wording and print it off yourself for free. This will save you a year's entire premium.

It seems that the majority of posters are looking for something which is impossible to provide: an amazingly cheap policy, with the widest possible cover, backed up by fantastic service standards and impeccable claims handling.

payless

Paymentshield ( policy by St Andrew's - part of Halifax / BoS ) , I believe still does not show on comparison sites, they are offering 3 months free , plus from today optional Home Emergency & Legal Expenses cover - FREE for first year (they say value approx £60)

Obviously they are unlikely to be competitive for all types/ postcodes , but worth a look

I have a referral link for a deal with added value for MSErs
http://forums.moneysavingexpert.com/showthread.html?t=99368

Merlin139

Have just read the weekly E-mail and saw the article on House and Buildings Insurance with Norwhich Union and I thought my insurance was due for renewal. It was at 00.01 this morning, so have been with out insurance for nearly 22 hours!

Found the renewal notice buried in the house file by my dear wife, God bless her!

I then checked out money supermarket and got loads of quotes and £53.16 off my renewal quote from Norwich Union.

Have gone ahead with it and am now insured again for another 12 months.

Lesson to be learnt! Keep notes of all important dates on the computer calender to remind me.

Thanks for all the good advice on your E-mails and site Martin.

almac_5

Have just read "contents" article and now feel little insecure with my own cover.
Have been with same company for several years and have never changed level of cover mainly because have never bought anything new for house , with the exception of a computer which i did ring and quote them the price but they said it didn't matter ,or claimed anything on insurance.
The thing is when i set up the insurance i went round the house and worked out the price of all my belongings a mere £4000! this is because everything i own was either given to me free from relatives when they were getting rid of stuff or i had bought it 2nd hand at not much cost. I had believed that i couldn't put a higher value on my stuff because i had nothing to prove any value for any of it.
Does it mean i am totally underinsured????? and do i need to reevaluate contents based on prices of new stuff in shops and why has my insurer not suggested to me that i am underinsured/

cal

I have just had my renewal with Norwich Union in at £203, a £7 increase on last year. I did the on-line quote with 50% discount on the contents and it came up with £296 - is the on-line quote higher in order to give the discount? Have always shopped around, but this year do not seem to be able to get anything else under £300 - will try the Halifax though as have been with them before. The problem with insurance is it is great until you need to claim. Thankfully we have not had a claim in 10 years. Any feed back on company's which are good with claims?