Home Insurance Discussion

Bravebaldrick

Had my renewal through from Legal and General for my Home contents Insurance (i'm a tenant so only need contents). Been with same company for 3 years, but this year my renewal was £166 annually or £198 monthly (I pay monthly, which is a sin I know but this is my only viable option).

Checked comparison sites and cashback sites. MoneySupermarket had the same policy for £90 annually or £98 monthly. I think it was my fifth cheapest quote. I'd rather not change company as you often have to pay substantial 1st payment.

I have spoken to them and they have adjusted my renewal to the lower price (a couple of sections didn't quite match), with no loss of cover, and I also get Family Protection free for the 3rd year running (£25 addition to policy after 1 year).

I think I have now almost halved my current monthly payments. :j

anita116

Well done. Excellent example of how to fight back when loyalty is penalised.

br1anstorm

Can anyone suggest, or recommend, insurance providers to approach for buildings-only cover on a vacant house?

The situation is that an elderly relative has just moved into a care home from her own house. Until now she has had the usual buildings-plus-contents cover. The house is now empty, and most of the contents have been removed. What's left in the house is not of significant value (carpets/curtains and odd bits of furniture), so doesn't need to be insured.

The house is up for sale, but this seems unlikely to happen swiftly. Meanwhile the (vacant) house needs to be insured - at least to cover risks to the building itself. The current insurer will provide buildings-only cover; but I would like to get some alternative quotes. Comparison sites are not that helpful as the circumstances are not exactly standard. I'd like to approach a handful of other insurers for quotes. So recommendations would be welcome.

paddyandstumpy

br1anstorm wrote: »

Can anyone suggest, or recommend, insurance providers to approach for buildings-only cover on a vacant house?

The situation is that an elderly relative has just moved into a care home from her own house. Until now she has had the usual buildings-plus-contents cover. The house is now empty, and most of the contents have been removed. What's left in the house is not of significant value (carpets/curtains and odd bits of furniture), so doesn't need to be insured.

The house is up for sale, but this seems unlikely to happen swiftly. Meanwhile the (vacant) house needs to be insured - at least to cover risks to the building itself. The current insurer will provide buildings-only cover; but I would like to get some alternative quotes. Comparison sites are not that helpful as the circumstances are not exactly standard. I'd like to approach a handful of other insurers for quotes. So recommendations would be welcome.

My first suggestion would be to talk to the holding insurer, which you've done already.

My second suggestion is speak to a high street broker (not Swinton).

Unoccupied properties aren't most insurers cup of tea, especially over Winter. You'll struggle to get many insurers quoting at all, let alone with a competitive rate.

Out of interest, why don't you think the property will sell fast? Is it overpriced?

Escapecommittee

Hi my first post to this forum. I have just got a renewal from Saga for my buildings and contents insurance. In practice if I had let it roll over my monthy DD would have gone up from £25.80 to £42.23, an increase of circa 70%!!! The credit charge would have been 9.7%.
I called the Saga call centre and explained. The staff have been well trained to accept and deflect.

I had the wits to avoid this but I feel for those people who may not be so able and possibly think that a company "dedicated" to the older person might not take advantage. Not much disgusts me these days but this does. Appalling.

paddyandstumpy

If you want a laugh you should call them back and ask what their commission (they refer to it as revenue) is on the renewal quote.

I've seen commissions north of double what is standard in the home market.

This is why I have a strong dislike of their model and would urge anyone reading this to make sure no one they know is insured via Saga (they are just a Broker, the underwriters are available through many other brokers at a far smaller cost!)

br1anstorm

paddyandstumpy wrote: »

My first suggestion would be to talk to the holding insurer, which you've done already.

My second suggestion is speak to a high street broker (not Swinton).

Unoccupied properties aren't most insurers cup of tea, especially over Winter. You'll struggle to get many insurers quoting at all, let alone with a competitive rate.

Out of interest, why don't you think the property will sell fast? Is it overpriced?

Thanks for that advice. Just to clarify on that final question. The house is in the centre of a small village in the rural Scottish Highlands. In general, the "turnover" of properties in such small rural communities is very slow, populations are not very mobile, the house itself has had some modifications to assist with "elderly living", and it is unlikely to appeal to a second-home or holiday-home purchaser. Likely purchasers are either a young family (the house is near the primary school) - but mortgages are harder for them to get; or a downsizing empty-nester...... but there's not exactly a massive queue of such buyers.

paddyandstumpy

Thanks for explaining - that makes sense! Good luck with the house sale.

One thing to bear in mind with unoccupied property insurance, it's normal for there to be a weekly internal inspection clause. And perhaps the heating to remain on or the system drained.

Given the rural location in the Highlands are you able to comply with a weekly inspection?

Mr_Benn

Hi all. Im thinking of getting 2 separate companies to do my house insurance. One will cover Buildings (plus legal and homecover), the other contents. Im doing it as it appears to be cheaper, and a bit of cashback possibly for both.
Are there any drawbacks on having 2 different companies as Ive never done that before. I guess if a claim covers both
polices you have to pay 2 excesses ...but slim chance .

Thanks in advance

Quentin

You've hit on the main drawback (possibility of double excesses)