Judging by the profits they make, they're much, much better at it than me, to the extent of charging me possibly double what the risk actually is. That's the gripe.
I just wonder if anyone here has actually received back from their house insurance company more than they've paid out in premiums. There should be some if the companies aren't rampantly profiteering on the back of unjustified anxiety.
Indeed, so what's the point in them getting cross? They should just give the answer when asked, and accept that some customers don't want an extended warranty.
You don't really understand insurance, do you?
You don't really understand insurance, do you? <
So how about explaining the misunderstanding, instead of just making a snide comment?
SteveT
And when it does, you get mudslides.
And in practice, in my nearest Costco (Thurrock, Essex) there are plenty of 'riff raff'! They seem to qualify somehow...
Indeed. People 'borrow' legitimate users cards. Difficult for a company like Costco to control that. Checking the validity of every customer would take time and cost money, so prices would rise. It's also not good for business if customers are routinely challenged in-store.
A very good point I had overlooked.
One other point about Richer Sound's Supercare. It used to be transferable if you sold the goods, unlike at least some of the insurance-based schemes. (FTAOD I have no connection with them and haven't bought from them for some years; but I am old enough to have first bought when they had just the one shop at London Bridge.)
So shop around. There's this little thing called competition. At the end of the day, you're faced with the choice. Is the premium they want higher than avoiding the risk is worth to you? If so, don't take out the insurance. Mr Invisible said he paid less than £200 a year. I bet you spend that much in a couple of months on petrol. Hardly seems excessive to me.
Well I have - I told you up-thread. I had subsidence that would prolly cost £20k or more to fix. One phone call the the company (More Than) and they sorted it. Took a few years, but they wait for at least a year to be sure that the movement has stopped.
Oi! :-)
I'm interested - what is exactly if the legal footing these and other trade business enjoy to select customers? At the till, it's a VAT receipt - like any other.
(I've dealt with organisations that do "Reverse Charge VAT", but Costco is hardly in that boat)
They can
I'm everything in that list but an institution. Should probably be in one though ...
:-)
And, Norm, why d'you think it's unjustified?
I understand the insurance companies' view of the matter. What I'm not so clear about is whether they're providing a worthwhile service to me.
It's a matter of the risk involved. After all, I could probably get insured against pink elephants treading on my toes, but the risk is actually so low that the premiums would never be justified.
Then I refer you back to the points and suggestions I've already made and given.
That's the point - you have to assess the risk for yourself.
I did a few years back, but got constantly refused on numerous websites for not being able to answer questions such as 'Brick or stone construction?' with a simple yes or no. My house is 200 years old and it's not quite that simple because some of it is, but other bits are timber frame, lath and plaster. Also it's a bit difficult even to say whether it's detached or semi-detached because it's mainly detached but there is a small join to the neighbouring house.
Most insurance companies seem only to want bog standard business based on bog standard houses. If you don't fall into that category, it gets a lot more difficult and time-consuming. So, it's not quite that easy.
I agree. If it was that low, I wouldn't give it much thought. It's because it's just crept up over £300 that I am.
OK, fair enough.
I know. It's my choice!
Certainly.
Pay>
There is a photograph on mine! I suppose they don't see it until I get to the checkout.
regards
>
Yes, I can understand that. Our old cottage was 200 old @ the front, made of claybat, and modern extension at the rear. (So, basically, we lived in a mud hut :-)
Have you tried phoning to get a quote? I'd have thought that at least you'd have a chance to explain to the droids what the situation is. I found More Than (and Halifax since we moved) to be willing to listen a bit - the Halifax lady said they'd have to get an underwriter to decide whether subsidence might be a problem at the new place. Then it becomes up to them whether for e.g. your detached/semi issue they tick the yes or no box at their end.
One company membership allows for 6 people , also, if you worked (in the loosest sense of the word, obviously) for the gas board or some other institutiun, you could get "riff-raff" membership
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