Home Insurance Discussion

Watson

My home and contents insurance is shortly due for renewal, and I'd be grateful for some advice:

My current policy is with the Halifax (as is my mortgage) and it includes unlimited cover for both contents and building. Is this unusual? I've been playing with one or two of the comparison sites, and they seem to work only in terms of fixed sums.

Could it be that by having this unlimited cover I'm paying a higher premium than I need to? I suppose unlimited could be good to have for contents, but surely it's possible to calculate a top sum for replacing the building? And actually even with contents, I could work out a reasonably accurate figure that represents everything I own.

Thanks in advance.

gaily

Blanket cover - as it's commonly known, makes some assumptions. If you live in a bog standard house, with no detailing that would make it more expensive than any other 3 bedroomed semi (for example) in your area, then you should find blanket buildings cover does the job for you.

If you happen to live in a 3 bedroomed semi that's listed, built of cornish stone, and has a beautiful turreted front, then you probably need to be looking for something slightly more suited. You'd need to establish a re-build sum insured (not to be confused with the market value of your home) - needing someone to do a valuation (often done when you remortgage).

They say it's blanket cover, but will still ask you for such details as the number of bderooms, date of build, and whether it's standard construction, ie brick or stone with tile or slate roof. This give them a reasonable idea of how much your house is worth, and they will charge accordingly.

With regard to contents, they say unlimited, but look at the wordings, there will be something that says you can't have a single item of jewellery that is worth over £1,500 (for example) or any single item over £1,000 - and TV's, bikes, cookers etc can easily go over this price now. They'll also tell you how much stuff you can insure away from home - ie your laptop or camera, as well as anything you'd take on holiday. If you have a £5,000 state of the art cinema system in your house you'd need some way to prove it if the house were to be flattened (and I'm sure you don't keep your receipts at a friends house!!).

I've mentioned (and been critisised) earlier this thread for saying that Insurers often use the figure of approx 30% of the house's rebuild value as contents. If we follow that arguement through for the sake of blanket cover - valid or not - if you are over this sum, then you need to make sure insurers are aware of this, so as not to have any problems in case of a claim.

I always think it far easier to argue with an insurer as to what to pay upfront before any problems arise - £400 might seem a lot each year, but if you lost everything, what would you expect them to pay you back?

Hope this helps.

Watson

gaily wrote: »

Blanket cover - as it's commonly known, makes some assumptions... If you happen to live in a 3 bedroomed semi that's listed, built of cornish stone, and has a beautiful turreted front, then you probably need to be looking for something slightly more suited. You'd need to establish a re-build sum insured...

So am I misunderstanding what "unlimited" means? I assumed it meant that the Halifax would meet the cost of a complete rebuild, whatever that cost turned out to be.

I take your point about the specific contents items.

Thanks for the reply.

gaily

Blanket cover is good for about 70% of us normal people. It's when a building starts to be something other than standard or normal that that problems start to arise in cases of a claim.

...Or if the contents are high value in a modest home, you may need a way of proving that the lady of the house had more shoes than Imelda Trump - or that your Louis Vitton luggage that got lost at the airport was actually a Tardis that had more items than even Victoria Beckham could stuff into it!!

It's like the Unlimited Internet usage that some companies offer mobile phone users - then add 'fair usage' limits, or with a fairly high limit that most people don't need to worry about.

Unlimited is useful, and stops underinsurance for most of us, but the small print does need to be read - I was insured with Halifax a while back, and they were good for what I needed. They had good emergency cover when I had a leak that appeared, sent someone out between it being notifed by my hubby at lunchtime, and me getting home in the evening. Didn't make any actual claims on the policy (home emergency didn't count!), but i felt their rates went up too much one year - about 3 years later, so swapped.

Watson

I just looked at the Halifax leaflet. Buildings cover is described as Unlimited, with no qualification. Contents is also Unlimited, but carries the following footnote: Some limits apply, including Single Article and High Risk items.

So as you say, unlimited isn't unlimited at all.

The trouble with insurance of course is that it's really only another form of gambling - and I've never been lucky with gambling. I have to have buildings cover for my mortgage, but in all the years I've been paying premiums I've never once made a claim on my contents insurance. I shudder to think how much I've gambled away on that.

rhonab57

Have done the MSE search to get a buildings and contents quote & L& G have come up with best quote - my question is can I get both cashback - £40 from Quidco AND the £40 M&S vouchers?
Has anyone tried this?????
Best Regs to all you moneysavers and thank God for Martin!!!
long may he reign.....:money:

rhonab57

Hi Watson, been searching for a better quote myself and got a phone call from one of the companies - I asked about the cover amounts and was told that £30K for contents was 'generous' and that some companies just have a blanket amount and if you think you don't need this much you can reduce the amount and it should reduce your premium.

smcp

Hi All,

Just been on mobile phone (they called me thank goodness) to Swinton. They called because I tried to do a quote online and it rejected me. Very helpful chap - Bernhard - found out that it was because I have not got any 'No Claims Discount' yet. I was looking after my Mother in her own home until she passed away last year so didn't have any insurance for the last 7 years. I am with the AA who didn't need me to have any previous insurance and are underwritten by Lloyds TSB who I bank with.

Just thought I'd let others know about the 'No Claims Discount' hurdle!

Angelina1971

Over the last 25 years as a home insurance customer and never having made a claim our garage was completely cleared out by burglars. Motorbike, mountain bikes, tools and fishing equipment. I received a very condescending and rude call from UIA today telling me I must send in photographs of my husband and I using the DIY tools and fishing gear and that the makes of the equipment must be clear on the photos..he then read from a long winded script and told me basically until I could prove it they werent considering my claim!! He was horrible and rude and I was distressed by his inference and attitude. Where do I stand with this?? I completely object to sending in any snaps at all. Is home insurance even worth the paper it is written on.....we feel like we have been robbed twice! Once by UIA and once by the burglars!

dacouch

It's common for Insurers to ask of proof of ownership of items, this could be receipts or bank / credit card statements etc etc showing the purchase. If this is not possible they will often ask for photographs of you with the items.

Do you have any of the above