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Building and contents insurance.

MikeRC Plus
13 3.6k United Kingdom
13 Nov 2010 10:32PM
Hi...This last year my building and contents insurance cost 308...renewal is 433.
My broker, The Caravan Club, gives the reason for the increase because the original company Equity Red star no longer does household insurance and this was the cheapest alternative.

I have got an on-line quote from Saga...buildings 260,000, contents 50,000...includes 2,500 photographic equipment, in the home or outside.

Anyone any views on this or any other company I should check out ?


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RogBrown 11 3.1k 10 England
13 Nov 2010 11:06PM
I've just changed to Saga. Buildings 500,000, Contents 50,000, Personal Belongings away from home up to 1000 per item.
Total price 188.
cats_123 Plus
14 4.8k 28 Northern Ireland
13 Nov 2010 11:13PM
just to add a note...I recently had to renew my landlord's insurance and the renewal quote was extortionate...got some new business and the insurer advised me that premiums are based in the main on rebuild value. This only needs to be the market value or just above. might help Smile
cattyal Plus
13 8.5k 6 England
13 Nov 2010 11:25PM
I'm about to get some requotes for my contents/buildings insurance - am currently with Zurich whose premiums have gone up across the board so almost all of their policies are being re-broked (I work for an insurance brokers). I'll let you know what I come up up with!

The place I work for does loads of blocks of flats insurance as well and pretty much all that business is being moved to a new company too.....
MikeRC Plus
13 3.6k United Kingdom
14 Nov 2010 12:21AM
Cheers guys....I forgot to say what the quote from Saga was and now I've forgotten it Smile
...It was certainly a lot more than 188 Rog...I'm 70 Rog...mind telling me how old you are ? ...would you expect that to have a bearing on it ?

Quote: I'll let you know what I come up up with!

Thanks cattyal.....Thanks all.
guidoa 16 1.4k United Kingdom
14 Nov 2010 8:05AM
Try LV, got a very competitive quote from them for both car and house and I'm older than Mike
franken Plus
15 4.6k 4 United Kingdom
14 Nov 2010 8:15AM
Direct line are pretty good.

RogBrown 11 3.1k 10 England
14 Nov 2010 9:04AM

Quote:I'm 70 Rog...mind telling me how old you are ?

I'm 67, but only on the outside. Smile
MikeRC Plus
13 3.6k United Kingdom
14 Nov 2010 9:35AM

Quote:I'm 67, but only on the outside.

...cheers Rog...that'll be what they base their quote on Smile

Thanks guys I will check out LV and Direct Line.

I've got a quote from Saga of 309, a lot cheaper than my renewal from the Caravan Club....this includes 2500 camera gear in the home and 1500 out of it....I think... all a bit confusing.

I haven't yet mentioned that I have a power assisted pedal bike...not sure they will cover that and not sure if I'm bothered for a difference of 124.

gaelldew 11 361 United Kingdom
14 Nov 2010 12:01PM
Mike, try RIAS I'm 75 and just changed to them ours is just a normal semi 196 56 1 mill building 50 grand contents. Just take care over the extra items I didn't ask for Accidental cover and just after, the top part of the stand pipe outside broke away. Insurance does differ in different parts though.
thewilliam 9 6.1k
14 Nov 2010 12:02PM
We insured with Saga for many years then they changed insurer and would no longer cover people who run a business from home that involves frequent customer visits. Many other insurers also refuse to cover this "risk".

We went with NFU Mutual because every farm is a business, usually "diversified" and sometimes including photography. NFU doesn't suffer from this ridiculous phobia and they're also reasonably priced.
RogBrown 11 3.1k 10 England
14 Nov 2010 12:25PM

Quote:Mike, try RIAS I'm 75 and just changed to them

We just changed FROM RIAS! Smile
Paulbee 13 41 United Kingdom
14 Nov 2010 2:18PM
I insured my 97 y.o. fathers house for him with RIAS and was very satisfied with them. He had moved into a rest home and the place was empty so I insured property only with no contents, cost 177. The house sale was completed this week and he got a refund of 106 immediately with no hassle. We are very satisfied with the way RIAS do things.

PS When you insure a house remember to reduce the house value by the value of the building plot. Insurance companies tell you to insure on the assumption that the entire house is destroyed and needs rebuilding from scratch. But if you do lose the entire house you still dont have to buy a new building plot, so in that case you will be over insured.
thewilliam 9 6.1k
14 Nov 2010 2:30PM
Also, remember that when a house is destroyed by fire or other disaster, the remains will probably need a specialist demolition contractor. The rubble is then subject to a landfill tax of GBP74 per ton.

There'll be architect fees because the planners will probably insist that the new house matches its neighbours.

RICS has a standard house rebuild cost per square metre of floor area. We used this figure for our insured value.
Lynx08 10 1.2k Scotland
14 Nov 2010 3:38PM

Quote: insurer advised me that premiums are based in the main on rebuild value. This only needs to be the market value or just above. might help Smile

Hi, like cattyal I work for an insurance broker and we specialise in house and motor etc. The sum insured for your building should reflect the cost to rebuild your home if it is destroyed. This is normally lower than the market value but will depend on where you live on how much lower. For instance if you live in a very sought after area the market value could be double the rebuild cost. You can't just ask a builder how much they would charge you to build a house like mine because, as mentioned above, there are lots of additional cost involved. Such as demolition, clearance, architects, surveyors, planning etc etc etc. There is a good guide on the following web site http://abi.bcis.co.uk It is only a guide but it'll let you know if you're in the right ball park. Only warning is, it's OK for normal straight forward properties but if you live in a very old house or something out of the norm then get a surveyor in.
The thing about taking of the cost of the land is a red herring, that's no guide to the calculation. (sorry Paulbee).
We only do schemes for particular companies for their staff and pensioners. If you're over 50 one of our main competitors at the moment, price wise, is 50plus which is part of a broker called Bluefin. Saga used to be but more recently they have been quite pricey.

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