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  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 6th Feb 07, 6:01 PM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    Home Insurance Discussion
    • #1
    • 6th Feb 07, 6:01 PM
    Home Insurance Discussion 6th Feb 07 at 6:01 PM
    This discussion relates to the

    New Home Insurance Article

    To discuss or ask a question about the article: click reply




    (to read the old discussion see
    here)



    Last edited by Former MSE Wendy; 06-02-2007 at 6:42 PM.
Page 1
    • georgeone
    • By georgeone 7th Feb 07, 6:23 PM
    • 47 Posts
    • 22 Thanks
    georgeone
    • #2
    • 7th Feb 07, 6:23 PM
    Cheapest not best - Value is important
    • #2
    • 7th Feb 07, 6:23 PM
    I know it has been referred to on previous insurance threads but another reminder cannot go amiss.

    Buying the cheapest insurance sounds obviously good. But beware. Just because the marketing morons at many insurers sell only on price, there is nevertheless more to it than that (as the FSA is waking up to - I note Martin is FSA authorised so I assume he is aware that they have expressed concerns to the industry about selling solely on price and whether this is in line with the principle of treating the customer fairly).

    Do you want a claim service that pays cash and leaves you to sort out the mess (and find some non-cowboys to do the repairs) or one that provides a managed repairer network that takes care of it for you? Do you want a policy that will let you value the contents of your house and insure those, or one that assumes an average figure for a 3 bed, or 4 bed, or whatever, type of house? These are just a couple of examples to illustrate that you are not buying baked beans here and cheapest is not always best.

    Really, Martin, I know it is about saving money, but insurance is one area where value may well be much more important than price. I heard of someone whose house burnt down completely and he rues the day he bought the policy from "insurer A". I had a claim that needed a specialist builder and I was left to my own devices ("get a quote from a builder, we'll approve it, send us the bill, we'll send you a cheque"), when I really wanted an insurer who would send a repairer and take care of it.

    Not all policy coverages are the same.
    Not all claims services are the same.

    Ask and think before you buy on price alone.

    (Apples and oranges may be the same price, but when what you really need is a banana ... )
  • mollyann
    • #3
    • 8th Feb 07, 4:30 AM
    • #3
    • 8th Feb 07, 4:30 AM
    I've just switched Home Insurance once again. My policy starts tomorrow. Buildings & contents this year cost me 117 with Lloyds TSB.

    Oh...one other thing. Did it through quidco. I now have 120 tracked from doing this.

    My insurance cost 0 this year, there paying me this time!
    "If toast always lands butter-side down, and cats always land on their feet,
    what happens if you strap toast on the back of a cat and drop it?"
    • LouiseF
    • By LouiseF 8th Feb 07, 9:32 AM
    • 6 Posts
    • 4 Thanks
    LouiseF
    • #4
    • 8th Feb 07, 9:32 AM
    • #4
    • 8th Feb 07, 9:32 AM
    I've done the same thing - my contents insurance from Barclays was 77 and I got 125 cash back through Quidco! Well worth doing. When your docs come through, your old insurer will probably try to better the quote to stop you cancelling - take this back to the new insurer and get the premium reduced even further. This won't affect your Quidco payment.
  • mollyann
    • #5
    • 8th Feb 07, 1:57 PM
    • #5
    • 8th Feb 07, 1:57 PM
    I've done the same thing - my contents insurance from Barclays was 77 and I got 125 cash back through Quidco! Well worth doing. When your docs come through, your old insurer will probably try to better the quote to stop you cancelling - take this back to the new insurer and get the premium reduced even further. This won't affect your Quidco payment.
    by LouiseF
    Did that! it was the AA, told them and all they said was "I can see why your cancelling"

    Remarkable, Yet last year they were the cheapest quote.

    My rule: NEVER, Accept the first quote.
    "If toast always lands butter-side down, and cats always land on their feet,
    what happens if you strap toast on the back of a cat and drop it?"
    • edda
    • By edda 8th Feb 07, 4:59 PM
    • 1,043 Posts
    • 3,966 Thanks
    edda
    • #6
    • 8th Feb 07, 4:59 PM
    Double check the fine print
    • #6
    • 8th Feb 07, 4:59 PM
    I know it's a pain, but I always double check the fine print.

    For example, M&S insurance came back the cheapest through confused.com.
    Then did a quote from their site, as I couldn't see the policy terms from the confused link.

    2 problems followed:

    1. The M&S direct quote was more expensive (different questions asked)
    2. If I changed to M&S, there was no emergency cover for the 1st 8 days. So, roof damage from a storm or burst pipes in those 8 days (for example) would mean I had no claim.

    Decided to stick to current insurer (2nd cheapest).

    Probably different for others, but I wasn't taking any chances!
  • hpamella13
    • #7
    • 9th Feb 07, 9:55 AM
    • #7
    • 9th Feb 07, 9:55 AM
    Hi I,m new to this so please forgive me if this information in the wrong place.
    I have just received my renewal quote from Northern rock for £416.52 for building and content. I,ve had my morgage with them so I,ve just kept renewing each year. I called to cancel the policy and they have told me I have to sign a declartion to cancel and pay £25.00 for administration. Can they do that? Has this happened to anyone else?
  • fegan2401
    • #8
    • 9th Feb 07, 10:29 PM
    House Insurance
    • #8
    • 9th Feb 07, 10:29 PM
    Hiya all!

    Does anybody know if you can take out contents insurance with one company and building insurance with another. Don't think you can but thought i'd better check.

    Cheers
    • edda
    • By edda 10th Feb 07, 8:58 AM
    • 1,043 Posts
    • 3,966 Thanks
    edda
    • #9
    • 10th Feb 07, 8:58 AM
    • #9
    • 10th Feb 07, 8:58 AM
    Hiya all!

    Does anybody know if you can take out contents insurance with one company and building insurance with another. Don't think you can but thought i'd better check.

    Cheers
    by fegan2401
    Yes -it is possible and can sometimes be cheaper.

    We had separate insurance cover with 2 companies a few years back when the house was struck by lightning. Claimed for fixed items on the house insurance and removable ones on the contents insurance. (Fixed being defined as those which are normally left behind when you move).
  • pigeonpie
    Just cancelled my contents insurance and took it out again with the same insurer on a new quote (suggested in MSE article) which saves me a fiver a month with Royal and Sun Alliance/Lloyds TSB. They are also reportedly giving me £20 back. I didn't know how to do it all through Quidco, pity, but not bad for London - the policy covers full acc damage and is contents up to 50k (not that I have that, but it's the same price as having 15k).

    I tried the sites on MSE and they were all at least £5 more pm. You can't haggle online I guess!
    They have offered me emergency call out cover for heating, locks etc at £5 a month and they pay the first £100. Does anyone (esp London) who has this add on know if it's worth it?
    • clearvisor
    • By clearvisor 14th Feb 07, 8:23 PM
    • 148 Posts
    • 63 Thanks
    clearvisor
    Hiya all!

    Does anybody know if you can take out contents insurance with one company and building insurance with another. Don't think you can but thought i'd better check.

    Cheers
    by fegan2401
    hi, Yes you can,my grandsons dad has his just like that,
  • Ktownshend
    Looking at getting contents and buildings insurance for a flat. Tesco are offering 35% off and have quoted £504 for the lot. This almost seems too good to b e true, Other insurance companies either wouldn't insure us because it's a flat or were charging around £900. Anyone else with Tesco, or seen this deal. Is it too good to be true or is it a genuine good offer?
    • evosy1978
    • By evosy1978 17th Feb 07, 11:35 AM
    • 588 Posts
    • 62 Thanks
    evosy1978
    hello

    i know this is a long shot.

    could i apply for contents insurance as a seperate thing and then apply for buildings insurance but with the same company. and do both through quidco. hehe.

    ta
  • leavold
    Beware when switching buildings insurance!

    After seeing their promotion on this board I switched my buildings insurance to the Post Office in October 2006.
    In November 2006 my local council identified a problem with a broken waste pipe I share communally with my neighbours. They repaired it in January 2007 and I have just received a bil for over £1000.
    I contacted the Post Office to discuss my claim and they passed me on to some random firm of underwriters called MMA in Cardiff.
    MMA have told me that as the waste pipe may have been broken before I switched my insurance to the Post Office I may have to contact my previous insurer to claim (as if they are really going to be interested).
    I now have to submit all the paperwork I have from my council before they will make a decision.
    Does anyone know if this is legal?
    I'll certainly be raising this with the Post Office Executive and the Financial Ombudsman should the Post Office turn down my claim.
  • Spad
    Renew/New Policy with same company.
    My Home Insurance expires on 25/2 with Barclays. If I dont renew it with them, and instead take out a new policy with Barclays through Quidco does anybody see a problem in doing this.? Its the same cost on the renewal and the new quote 133.00.
    I would of course get the 125 cashback.
    .
    Thanks
    • Anon
    • By Anon 20th Feb 07, 9:53 AM
    • 13,757 Posts
    • 152,322 Thanks
    Anon
    My Home Insurance expires on 25/2 with Barclays. If I dont renew it with them, and instead take out a new policy with Barclays through Quidco does anybody see a problem in doing this.? Its the same cost on the renewal and the new quote £133.00.
    I would of course get the £125 cashback.
    .
    Thanks
    by Spad
    Yes you can - I have just done this myself. I have separate Buildings and Contents - last year with different insurers, this year I am thinking of moving both to Barclays. Buying B&C together from the same insurer on the same policy generally works out cheaper as they offer a slight discount (buying online with Barclays you can keep changing the options and recalculating ), however, I found that although splitting this costs slightly more (having both with Barclays), the Quidco cashback of £125 x 2 should make it cheaper overall (assuming this works!). Barclays appear more expensive than the other insurers but taking into account the cashback, it should work out about £100 cheaper for me overall (and £200 cheaper than my two renewal quotes). The other benefit of taking out a new policy is their website allows you to pay monthly at no additional cost, yet the renewal is more expensive and you have to pay £1 per month admin fee if you pay monthly.

    Someone mentioned a while ago that they also then managed to get Barclays to pay up on the price match without affecting their cashback (by taking out the policy and phoning once all the documentation was through) but I don't know how reliable that would be (and don't think you can get the price promise if you have used previously).

    Anon
    Last edited by Anon; 20-02-2007 at 9:59 AM.
  • bengalcat
    Home Insurance Renewal
    I had just received my renewal quote for home buildings and contents insurance and thought I would look up Martin's advice. Using the links provided I obtained quotes from Confused.com and found I could get similar insurance for just over half the 570 I had been quoted by my existing company. Using this information I telephoned my insurers, gave them the quotes from Confused.com and they promptly lowered the quote to 290!! For a few minutes work and thanks to Martin's tips I saved myself 280.
  • T99
    Challenge Churchill
    A curious tale!

    Just received my renaewal quotation from Chuchill for Buildings and Contents cover @ 433. Last year I was a 'new' customer and obtained the cover for 303 (via internet). However last year I switched to Churchill beacuse Direct Line, my previous insurer, quoted me 466 to renew as against 317 when I was a 'new' customer the previous year.

    Now guess what - today's cheapest quote from an hours work is Direct Line at 280 as a 'new' customer.

    Curious or what?
    • elektra
    • By elektra 28th Feb 07, 11:56 AM
    • 1,325 Posts
    • 808 Thanks
    elektra
    Does anybody think the Lloyds TSB cover is adequate.

    I'm looking at Barclays or TSB on Quidco and both come up with very similar quotes ( less than £10 diff), but Barclays seem to have more options - eg emergency cover, full accidental damage.

    As hopefully getting cover lot cheaper by using quidco wondering whether to get the extra options.

    Update - ignore me, I've just found the extra options on the TSB screens. You have to go onto the next screen after the initial quote.
    Last edited by elektra; 28-02-2007 at 6:25 PM.
  • darky
    MMA are one of the firms that underwrite the Post Office insurance cover - they are not random. They are also quite entitled to ask whether damage occurred before the policy commenced with them.

    Taking your claim to the ombudsman would be fruitless - it needs to go to your old insurer. If you don't understand what you are buying why continue switching insurers every year. Leave it to thoise who know what they are doing and go to abroker
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