Home Insurance

[kaktus]

So my home insurance is due for renewal on Dec 1st. John Lewis put up the premium by 23% despite being with them for 3 years and no claims whatsoever

Naturally I'm annoyed by this as the premium is now 403 for only building's cover (no contents even) and I've started to look around.

Problem 1 is: I'm finding quite a discrepancy between what comparison sites rate insurers as (claim satisfaction, ratings) versus what feedback is on the internet. Trust pilot has basically every insurance company as 1 out of 5.

Problem 2: I'm not entirely sure what I should be aiming to get. I'm basically specc'ing 'Building's Cover' up to a minimum of 500k and contents insurance up to a minimum of 50k and excesses of between 250 and 350.

Now I'm confused about a few things and been thinking about what one actually needs/can use on a policy and what is just a money sink.

From what I understand, Buildings Insurance covers Subsidence, Structural Destruction and Fire. Contents Insurance covers all contents in the house. Then there's Accidental Buildings Cover - which seems pointless and Accidental Contents cover which seems much more useful but the reality is, would anyone actually ever claim on this? With a minimum 250 excess and the impact on future premiums, why would you ever really claim on this except if there's been a catastrophic event and multiple or all contents items have been destroyed?

By extension, things like 'cover for items outside the home like mobile phones or laptops'. Again, can't see any point in this as you'd be paying an excess plus the impact on future quotes/premiums would I imagine be much worse.

So, I find myself questioning what is it that I actually need/should have and who should I get it from - who can actually be counted on to settle a claim when it's needed? JL don't want to budge on the premium

 

[billybob89]

I would go for AD buildings cover, say if you had leaky roof which has damaged your rooms upstairs and it was found out to be a wear and tear/design/maintenance issue then under your "standard" cover the roof repairs and internal damage wont be covered. However if you have AD cover your roof repairs still wont be covered however your internals will be. Look at NFU and LBG

 

[kaktus]

I would go for AD buildings cover, say if you had leaky roof which has damaged your rooms upstairs and it was found out to be a wear and tear/design/maintenance issue then under your "standard" cover the roof repairs and internal damage wont be covered. However if you have AD cover your roof repairs still wont be covered however your internals will be. Look at NFU and LBG

Thanks - so you wouldn't bother getting any contents insurance or just not accidental contents/away from home contents insurance? and what about home emergency cover?

What's the right excess level to have for an average person taking into account average scenarios/issues? I'm assuming I should have a high excess for Buildings Insurance since if im ever going to use it, it's for the big things; same for Contents Insurance but since you can't separate Contents from accidental contents and away from home contents it kind of makes that a moot point

NFU are a pain to get a quote from, it seems you have to call them and they havent invented an online quote system yet (was the same 3 years ago). I'm assuming LBG is Lloyds?

 

[DXP55]

I never use comparison sites - Just use Tesco's and Aviva - play them off against each other every year.- You must have a big house - never had 400 quid quoted yet.

 

[GeForce]

Lloyds are doing £50 cashback on new buildings & contents presently.

Just renewed mine for £86 for the year after cashback (2 bed 1980s terrace in Surrey).

 

[Kuros]

Remember that the insured value against the building is the cost to rebuild, as opposed to it's value.

For most day modern homes, 500k seems excessive.

 

[M1k3H]

Lloyds are doing £50 cashback on new buildings & contents presently.

Just renewed mine for £86 for the year after cashback (2 bed 1980s terrace in Surrey).

Got a quote from Lloyds for circa £500

4 bed new built semi Newport

I would have thought with the house having another 9 years warranty NHBC it would give me some cheap quotes...

 

[Haggisman]

Problem 1 is: I'm finding quite a discrepancy between what comparison sites rate insurers as (claim satisfaction, ratings) versus what feedback is on the internet. Trust pilot has basically every insurance company as 1 out of 5.

People are far more likely to leave a review off their own back if they've had a problem, whereas if you buy through a comparison site, they tend to prompt you to do one after a few months.

From what I understand, Buildings Insurance covers Subsidence, Structural Destruction and Fire. Contents Insurance covers all contents in the house. Then there's Accidental Buildings Cover - which seems pointless

Depends on your circumstances really; do much DIY? It covers things like putting your foot through the floor/ceiling in the loft, drilling through a water pipe, etc.

Accidental Contents cover which seems much more useful but the reality is, would anyone actually ever claim on this? With a minimum 250 excess and the impact on future premiums, why would you ever really claim on this except if there's been a catastrophic event and multiple or all contents items have been destroyed?

Again, really depends on your circumstances, we only have a £50 excess, plus with things like a ~£1k TV, ~£1.5k PC, expensive(ish) flooring, a large tropical fish tank, and a 4 year old who likes to run about and swing & throw his toys around, it seems pretty sensible, for the ~£50/year extra it costs us

By extension, things like 'cover for items outside the home like mobile phones or laptops'. Again, can't see any point in this as you'd be paying an excess plus the impact on future quotes/premiums would I imagine be much worse.

£2-3/month extra to cover all personal possessions outside of the home up to £1.5k (mobiles/laptops/sunglasses/camera/etc.), vs £5/month per item on individual policies?

Again it's all down to individual circumstances

 

[kaktus]

Again, really depends on your circumstances, we only have a £50 excess, plus with things like a ~£1k TV, ~£1.5k PC, expensive(ish) flooring, a large tropical fish tank, and a 4 year old who likes to run about and swing & throw his toys around, it seems pretty sensible, for the ~£50/year extra it costs us



£2-3/month extra to cover all personal possessions outside of the home up to £1.5k (mobiles/laptops/sunglasses/camera/etc.), vs £5/month per item on individual policies?

Again it's all down to individual circumstances

I really don't understand how you're getting these quotes.

Lloyds came out to 784 without legal or home emergency cover. I also tried pretending I had a claim on contents within the last 3 years and the quote shot up to 974. And this is with 350 excess

This is for a 3 bed terraced house in London, no history of subsidence or flooding, in a quiet neighbourhood with very low crime and 3 years of no claims.

 

[Haggisman]

I really don't understand how you're getting these quotes.

Lloyds came out to 784 without legal or home emergency cover. I also tried pretending I had a claim on contents within the last 3 years and the quote shot up to 974. And this is with 350 excess

This is for a 3 bed terraced house in London, no history of subsidence or flooding, in a quiet neighbourhood with very low crime and 3 years of no claims.

We're paying £27/month with Halifax, £400k rebuild, £50k contents, £50 excess, accidental damage on both, including personal possessions away from home, and pedal cycles, with 3 years no claims, this is in a not so great area of Birmingham! Incidentally, I've just checked and our policy is actually underwritten by Lloyd's!

 

[Haggisman]

....and I'll post back shortly to let you know how they are when it comes to claim, since some lovely young gentlemen have just decided to put a rock through our front window. Unfortunately they weren't stupid enough to hang around

 

[kaktus]

....and I'll post back shortly to let you know how they are when it comes to claim, since some lovely young gentlemen have just decided to put a rock through our front window. Unfortunately they weren't stupid enough to hang around

damn sorry to hear that, so much scum around :/

p.s. Halifax quote came out to 504.

I'm thinking ill just go with Directline and be done with it - Building and Contents and Accidental but won't bother with items outside the house. Their quote is 361 - no emergency cover, no legal, no outside home and 250 excess

 

[GeForce]

....and I'll post back shortly to let you know how they are when it comes to claim, since some lovely young gentlemen have just decided to put a rock through our front window. Unfortunately they weren't stupid enough to hang around

Awful. Hope you get it sorted with minimum fuss.

 

[Haggisman]

Well, because it's double glazed and only the outer pane is smashed they don't class it as an emergency - got to phone back at 8am!

Now where's that cctv thread...

 

[BigT]

I wouldn't be without cover of contents outside the home. I learned the hard way when my wife had a diamond bracelet drop off and fall down a drain. I couldn't cope with replacing lost jewellery and watches without insurance and they mean so much to her.

 

[Haggisman]

Had the glaziers out yesterday evening to measure up, now just waiting to hear back with the costs.

What are people's experiences on claims increasing premiums? I did some quick quotes with single claim on there, and whilst the absolute lowest price goes up by about £30/year, overall there doesn't seem to be much difference - e.g. with my current provider the difference quoted was £1...

Edit: just heard back, £600, Ouch! Going through the insurance!

All seems to be going smoothly so far, paid my excess, window is on order, and it's booked for fitting on Tuesday