DazV

Mine's up for renewal and I was wondering generally what sort of monthly premiums people pay ?

My contents is lumped into the policy with my personal possesions.

For a house value of £275k I'm paying about £62 a month all in - is that a decent rate ?


-DV

crowtherg

Daz,

You talk about house value. Is the £275K the market value? You really should have the building structure insured for the reinstatement cost, which, whilst the property market is as it is will be lower, therefore lowering your premium. Remember, you already own the land, and no sort of claim can take that away from you.

From a premium point of view, it seems a little heavy for that sort of sum insured. Have a shop around people like Direct Line and Tescos are quite good.

Have a shop around,

bros2

[Edited by bros2 - 7/3/2003 9:41:07 AM]

DazV

cheers all.

Good point on the reintatement value. Whats the rule of thumb on this cost eg. current value * ? Or is it better to get a builder to give me that figure ?

[Edited by DazV - 17/04/2003 12:52:19]

DrEvil

AFAIK - I pay circa £6-7 per month for cover on a £193K property with a rebuild cost of £76k... basically all in, home + contents is £202 per annum with Halifax.

stevem2k

£28 a month on 118k rebuild & 75k contents with direct line.

Rebuild *appears* to be about 40-50% of the value fwiw.


Steve

[Edited by stevem2k - 17/04/2003 13:03:44]

boxst

Hello

It depends on what cover you want.

I have a £500K house, with a rebuild cost of about £300K.

I have contents and building (not accidental damage) at £20pm with Norwich Union.

Steve.

ScoobyK

Try Halifax...not just as they pay my wages but are very competitive with excellent contents (unlimited value !!!!!!)

We halved our previous premium by moving to them.

MattW

Try Zurich (I work for them )

I pay £28 pm for unlimited rebuild costs, 125k contents.

markr1963

Hmm... not sure about the Halifax. Am insured with them until renewal. Seem to remember I had to have their insurance when I took out a mortgage with them (9 years ago). I have their Extra Cover and its been costing me about £35 a month for building and contents + accidental damage + high risk etc. That's on a that's worth £75k tops (its cheap up north).

Best deal for what I want is with Egg (though they are brokering for Axa I think) @ £220 pa

Scooby Dooby Blue

Don't look at it as paying for house insurance, look at it as a savings plan
Say for instance you have carpets down and you fancy hardwood flooring, drop a cafetiere of coffee on a strategic part of the carpet and let your insurers know. Bob's your uncle, cheque in to post to help with the cost of a wooden floor
Your 32" widescreen telly decides to pack up 2 days out of warranty. Simply borrow the neighbours 3yr old for a couple of minutes and get him/her to push the telly off the stand...let your insurers know. Bob's your uncle, cheque in the post to help replace your 32" widescreen with a 42" plasma

Paul

BTW These ideas simply just came to me and in no way reflect anything I would ever do!

DazV

Just checked with insurers - best way to calculate the rebuild cost of your home is:

Total Square Footage (up and down) * [£80 PER SQR FT] + 20%

NB: £80 per sqr foot is based on 'average' building materials. So if you're home is more on the posh side up it to £100 per sqr ft)

-DV

darlodge

We pay just over £20. That includes buildings insurance of £88,000 (rebuild cost) and contents are unlimited, I think. That is with Direct Line, we alos get £20 off for being car insurance customers

Darren