House insurance.

[redlig]

Morning all!

Just had the latest insurance "demand " for next years house hold insurance and was wondering if I was being "ripped off" again . I realize that it is a bit like asking how long is a a piece of string but I was wondering what was the average sum now asked for . 4 bed house sub 1/2 million £ . Contents £100.000 ( don't know where they get that sum from more likely £25.000 . realistically). Any sensible ideas gratefully received . Thanks!!

 

[Mark 5]

Morning all!

Just had the latest insurance "demand " for next years house hold insurance and was wondering if I was being "ripped off" again . I realize that it is a bit like asking how long is a a piece of string but I was wondering what was the average sum now asked for . 4 bed house sub 1/2 million £ . Contents £100.000 ( don't know where they get that sum from more likely £25.000 . realistically). Any sensible ideas gratefully received . Thanks!!

Shop around, my renewal is soon, just had my insurance renewal price for the property, ridiculous, shopping around, I've already had a like for like quote £148 cheaper.

 

[Dozzer]

It depends on what cover and how reputable,
have had everything from £400 to £2k and many in-between!

 

[Morris]

£311 last year, £397 due for this year! I still have to negotiate though.
3 bed semi, nothing special. However the insurance is with LV who were the only company I could find that covered my workshop properly.
Re the contents cover never underestimate what it would cost to replace everything in the event of a total loss. £25,000 as mentioned wouldn't get close in reality.

 

[droopsnoot]

Mine went up quite sharply, tried the usual phone call to get it more sensible and was refused, so I went elsewhere. What annoyed me was that "elsewhere" wasn't much cheaper, but when I tried to renew with my previous one a day or two before deadline, they wouldn't even honour their original renewal quote never mind bring it down a bit, so on principle alone I moved it. Later I read on MSE that home insurance in general has gone down this year, but it doesn't sound as if that's the case.

Apparently the mistake I made was to leave it so late - I read somewhere that there's a "sweet spot" around 20 days (I think) prior to renewal to get the best price, and after that, like sharks with blood, they sense that time is running out and you'll soon have no choice.

 

[RichardM]

Post Office asked £60 more for mine this time so I switched to a better policy for les than last year's price.
Shop around.

 

[My Old Landy]

Mine has decreased by £50 so I will keep quiet

 

[bricol]

Last year I discovered M&S Bank offered sufficient coverage for my contents in out buildings, at below 300 quid.

Got a letter a month ago saying they were no longer in the insurance business, but their underwriters, Aviva would be in touch with suitable replacement at renewal.

They emailed me this week - £430 - but no indication of cover for outbuildings cover - rang and it was a pathetic £750. So despite them covering it last year via an intermediary, they can't do it direct.

He did however point me at the British Insurance Brokers Association and said to give them a call to find suitable broker - I have yet to do so.

https://www.biba.org.uk/

 

[Dozzer]

LV wont quote on my house, as its not "Their market"
Currently with AXA as they would cover high value items like my hangglider and other things
Also includes the cart lodge and workshop.
Did set me back £1k

 

[Endeleus]

Ours is under a "multi-cover" policy with Admiral that covers the other half's car and the house insurance for less than I pay for my van insurance alone.

 

[richard8166]

Last year I discovered M&S Bank offered sufficient coverage for my contents in out buildings, at below 300 quid.

Got a letter a month ago saying they were no longer in the insurance business, but their underwriters, Aviva would be in touch with suitable replacement at renewal.

They emailed me this week - £430 - but no indication of cover for outbuildings cover - rang and it was a pathetic £750. So despite them covering it last year via an intermediary, they can't do it direct.

He did however point me at the British Insurance Brokers Association and said to give them a call to find suitable broker - I have yet to do so.

https://www.biba.org.uk/

Oh!
I've been with M&S Insurance for at least a decade because they covered contents in outbuildings with no restrictions. Was expensive, but properly covered. I've not had that letter yet, but looking at their website it seems like I will. I'm covered until June next year, so have a bit of time.
I'd looked at Aviva policies direct before because they underwite the M&S policies, but as you found, they don't offer enough cover.
Looks like I'll be in the hands of brokers, which won't be fun or cheap. But the M&S cover wasn't cheap, so we'll see how it works out.

 

[Morrisman]

Mine went up quite sharply, tried the usual phone call to get it more sensible and was refused, so I went elsewhere. What annoyed me was that "elsewhere" wasn't much cheaper, but when I tried to renew with my previous one a day or two before deadline, they wouldn't even honour their original renewal quote never mind bring it down a bit, so on principle alone I moved it. Later I read on MSE that home insurance in general has gone down this year, but it doesn't sound as if that's the case.

Apparently the mistake I made was to leave it so late - I read somewhere that there's a "sweet spot" around 20 days (I think) prior to renewal to get the best price, and after that, like sharks with blood, they sense that time is running out and you'll soon have no choice.

Last year my car insurance went down £60, but house insurance went up £80
Both with LV.

 

[addjunkie]

LV wont quote on my house, as its not "Their market"
Currently with AXA as they would cover high value items like my hangglider and other things
Also includes the cart lodge and workshop.
Did set me back £1k

Ive had this issue in the past ringing round…watch too high value, nope sorry…shed contents nope sorry. My sister in an insurance bod, deals in big commercials stuff, put me onto their top house bod, apparently I need a high net worth policy. At a high net worth price. No thank you.
Im with the NFU now, and have a small holders policy which covers the workshop sheds etc. funny how they push the contents and rebuild costs up yearly, but dont put up their workshop contents cover. Which is set at 20k.

Ours is dear because we have public liability and holiday cottages too. Though I have increased the xs on buildings claims reducing the bill quite a bit.

 

[Ross365]

Another vote for Admiral; had the 2 cars and the house with them for quite a while, though I did leave them one year just to prove how macho I am!
Only ever had to make one claim; a very large double glazing unit cracked on one exceptionally cold night, and replaced without quibble.

 

[indykid]

Last year I discovered M&S Bank offered sufficient coverage for my contents in out buildings, at below 300 quid.

Got a letter a month ago saying they were no longer in the insurance business, but their underwriters, Aviva would be in touch with suitable replacement at renewal.

They emailed me this week - £430 - but no indication of cover for outbuildings cover - rang and it was a pathetic £750. So despite them covering it last year via an intermediary, they can't do it direct.

He did however point me at the British Insurance Brokers Association and said to give them a call to find suitable broker - I have yet to do so.

https://www.biba.org.uk/

As above, LV are the only other I've found that will offer full contents cover value for theft from outbuildings.

We're with Tesco again this year because they offer full contents value for fire which would realistically be the biggest loss from the workshop. For stuff that would easily walk with a break in, the £5k is probably just about enough. Half the challenge would be getting to some of it in the first place, but I don't like to tempt fate.

Tesco was £300, LV was £400, M&S would have honoured their quote from the start of September but were £450. When I tried NFU last year, it was over a grand before I even started adding on increased outbuildings cover - completely uncompetitive for domestic policies.

If the rest of the market start dropping out of covering outbuildings, it'll be cheapest to build a connecting corridor and make the garage part of the main dwelling.....

 

[droopsnoot]

Last year my car insurance went down £60, but house insurance went up £80
Both with LV.

My classic car policy (three cars) is with the same company, similarly the car policy went up by I think £3, so not worth arguing about. I have argued with them about some other stuff which might mean I move the classic policy as well next year, but covering three cars adds complexity - it's difficult to get an online quote, and takes so long to do on the phone I just didn't have chance this year. I did get one alternate quote from another broker, but the same insurance underwriter, and it was £100 more expensive.

 

[Pete.]

I got my first year's insurance on my new house through Santander with the underwriting by aviva. It went up massively this year and when I tried to call there was a recorded message saying basically don't bother we won't give any discounts.

Went on a comparison site and got similar coverage, still with Aviva, for less.

As Martin Lewis keeps saying on his shows, you get better deals through comparison sites because the companies can offer discounts through third party sites that they cannot legally offer directly without giving the same offers to existing customers.

 

[zzr1200]

1st year the insurance brokers are fishing for your premium.

2nd year they think they have you hooked and are winding in the line.

3rd year they want to beat you over the head and empty your wallet...

Shop around if it's much more than last years.....

 

[redlig]

Thanks for all the replies . Just gone Comparison sites and saved a rather large " wodge " to enable me to waste more on tooling etc.

 

[addjunkie]

Thanks for all the replies . Just gone Comparison sites and saved a rather large " wodge " to enable me to waste more on tooling etc.

Invest not waste….