Home Insurance Discussion

Kite2010

burgesst wrote: »

Just did a comparison quote and found a good deal. But I wanted cashback,so did the same quote via a cashback site, only for it to come out £40 more, virtually wiping out the cash back!

Is that normal? Seems like a bit of a rip off?

It's about normal, they have got to recover the money somehow

Ever notice how if you go via different comparison sites it can change?

Kite2010

Kite2010 wrote: »

Budget wanted £260 on renewal, a quick search via the comparison sites found quite a few a lot cheaper.

Eventually went to the AA as they were the cheapest and had the potential of £36 cashback available from Quidco, paid £97, of which was a £1 credit card surcharge which got added right at the last second

But still nearly £200 saving from auto-reneweling, proving a point when phoning up Budget to cancel they soon dropped to £130, just shows how much profit they were hoping to make by sheep-auto renewing.

Cashback confirmed

Renewal quote - £260, purchased for £60 :cool:

So only 4 months to wait.

seert

have had home insurance for many years and havent made a claim in over 15 years. i have a laptop which is over £1000 which has been damaged and does not work. I have looked at my policy and im not sure if the laptop is covered or not, i do have primary and extended accidental cover. it says valuables which exceed £1000 must be noted individually on the policy, do laptops come under this or are they under another section
any help would be appreciated

dacouch

seert wrote: »

have had home insurance for many years and havent made a claim in over 15 years. i have a laptop which is over £1000 which has been damaged and does not work. I have looked at my policy and im not sure if the laptop is covered or not, i do have primary and extended accidental cover. it says valuables which exceed £1000 must be noted individually on the policy, do laptops come under this or are they under another section
any help would be appreciated

How old is the lap top?

How and where was the lap top damaged?

seert

5 years old and spilled a glass of cordial over it.
I believe I also have home entertainment equipment cover as standard

Tabitha22

This week I asked insurer Liverpool and Victoria for a buildings insurance quote on a semi detached house. To calculate my quote they asked me a few questions but asked nothing about the value/rebuilding value. When they delivered their quote amount without asking me this question I asked how they could calculate a premium cost without knowing that? They told me it didn't matter as they insured everyone for a blanket amount of cover of GBP 1 million. The rebuild costs of the house are a fraction of that, so they are effectively forcing their customers to over insure (and pay an unecessarily high premium presumably). Can they really do that?

dacouch

Tabitha22 wrote: »

This week I asked insurer Liverpool and Victoria for a buildings insurance quote on a semi detached house. To calculate my quote they asked me a few questions but asked nothing about the value/rebuilding value. When they delivered their quote amount without asking me this question I asked how they could calculate a premium cost without knowing that? They told me it didn't matter as they insured everyone for a blanket amount of cover of GBP 1 million. The rebuild costs of the house are a fraction of that, so they are effectively forcing their customers to over insure (and pay an unecessarily high premium presumably). Can they really do that?

They have a set premium for say a 3 bed bungalow built in 1950 which they will know will have a rebuild sum of x on average.

So they average the premiums amongst all their customers, some will find their premiums are cheaper than selecting an exact building sum insured and some will find them more expensive.

You have the benefit of the chances of being under insured being very very remote and they have a great marketing tool for selling you the policy and making it more likely their customers renew

gaily

Tabitha22 wrote: »

The rebuild costs of the house are a fraction of that, so they are effectively forcing their customers to over insure (and pay an unecessarily high premium presumably). Can they really do that?

Blanket cover just takes some of the guess work / underinsurance out of the equation. If your house were to be flattened, then you would never be paid out a £1,000,000.

When they've quoted, they've asked questions such as type of house (bungalow / detached / flat etc) then number of bedrooms, age of property, postcode etc. They will then put an average cost on the rebuild of your home, and charge you accordingly.

For example a 3 bed semi in a city centre will be different to a 4 bedroom detached in the country, and you would pay a different rate, but they give the blanket rebuild figure in order that you dont have the issue of underinsurance in case of a large loss.

(If your property is not standard, heavily altered or really high spec, then this one size fits all may not be appropriate, but the shoe fits most standard houses)

stretch3144

Our home (SN3 area) was unfortunately flooded in July 2007, and we are in the process of selling/buying a new property which is also in the flooded area.
After much searching of comparison sites we are very confused about time limits relating to flooding.
Our bank (Natwest), for example, will not insure us within a 10 year period. Our current insurer is Paymentshield who have quoted a ridiculous amount of money.
Please can anyone recommend an insurer?

MoominMama

My late husband and I bought this house 5 years ago, the insurance policy was in his name but I paid for it out of my bank account every month, when he died almost 3 years ago I spoke to the insurance company to let them know and put my name on the policy instead and they said they couldn't do that, I had to take out a brand new policy with them as a new customer and I lots all the no claims bonus etc and they whacked my payment up too. I feel I was conned/taken advantage of at a time when I couldn't think straight, but I suppose that's another story.

I've just bought my own house now and need insurance, I suppose those years I was paying when my husband was alive still count for nothing re the no claims bonus??