Single Article Insurance Policy Question

eldev

We have just renewed our house insurance and normally include my wife's engagement ring. Halifax offered us an incredibly good price for Buildings, Content, Personal Belongings Away from Home and Legal Cover, but the Single article item for the ring was almost twice that specified in the renewal from my existing insurance policy (£93 v £48).

We have chosen to go with the Halifax for all except the Single Article Item as we can add that later if we want and still save a substantial amount but first we want to explore if it is possible to get a Single Article Policy elsewhere for jewellery - cheaply. Our original insurance company did not want to cover it without the house contents as well.

All advice / suggestions gratefully received.

Oscar_The_Grouch

Hi there

Congragulations for falling into the "cheaper is better" trap.

Policies to provide cover for single items are usually "point of sale" policies. In other words, you are offered the cover when you buy the item and if you do not take it out, that is your hard luck.

Go back to your old insurer; at least they were providing you with the right cover. Otherwise, get Halifax to add the ring before it is lost, stolen, damaged, etc.

regularsaver1

How much is the ring worth?

FlameCloud

at £93 at our prices I would guess somewhere between £2500 to £3500, higher than the new Single article limit.

regularsaver1

of £1500!!

*MF*

@ eldev

It is possible to insure jewellery seperately from the contents etc - BUT - yep, big but, you are probably going to find that there is a minimum premium which is larger than what the Halifax are asking - thus a no win solution.

To test whether that is right or not, here is one place you could try :

http://www.thmarch.co.uk/Jewellery+Insurance/index.xalter

Personally I back up OTG's comments - get the ring insured - and if the Halifax have saved you money on everything else, then their cost for the ring is just part of the package - it often happens that way - swings and roundabouts, huh?

PS: Note what that site says about having the ring valued.

eldev

The ring is worth £6,500. Everything Halifax offered was a match to that of old insurer (NU) if not better. So it is still the cheapest even with the ring included compared to all other quotes, obtained using the system given on this site. And substantially cheaper than NUs renewal.

The policy does not kick off til 14 June, so thought I would see what the opportunity was to find a single item policy on its own between now and then, otherwise Halifax are happy to add the ring in.

I'll check out the site on the last reply and let you know what happens.

regularsaver1

NU are not unlimited on buildings or contents whereas Halifax are. Also NU charge u for paying monthly, again Halifax do not

so i suppose some things you win on and some things are not as great

I heard u can get cash back for Halifax using the quidco site, or in branch they have cashback deals or the 3 year freeze