On 29/05/2015 17:41, Mark Allread wrote:
On Fri, 29 May 2015 17:31:40 +0100, alan_m wrote:


Last year my insurance for £1million building and £50,000 contents was
£130. This week the renewal quote dropped through my letter box - £148
or an increase of around 14% if I chose to accept it.

Which company?

Direct Line - but last year that was the company that matched my
previous premium from another insurer that I ditched because of the high
renewal quote. My insurance cost have remained virtually static +/- a
few quid in the past 5 years by changing companies when the renewal
quote was uncompetitive.


That sounds remarkably cheap - does it cover for full accidental damage,
valuables away from home, garden items and proper replacement of matching
items if only one of a set is damaged beyond repair?


As I said - if you are prepared to accept certain conditions and accept
the risk yourself for your own accidental damage etc. then the price can
remain very low.

The add-ons from a lot of insurance companies can be overpriced and
purchased cheaper from elsewhere - or you can easily live without them.
These add-ons often are defaulted to be included (at an extra cost)
unless you turn off the option(s). Some people pay twice for the same
add-ons from the car insurance and the house insurance.

In the past, I've found that accepting a £50 higher excess can reduce
the premium by £50 from some companies so again its the amount of risk
that you are prepared to accept yourself that is important. The higher
the excess the less likely you are to make a small claim.

The one for all £0.5/£1 million building and £50K contents policies can
also work out much cheaper than a tailored policy.

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