Hi all
Just an observation that may be of interest. In the process of trying to renew house insurance. Rang the current company - Barclays. If I accept their valuation on re-build cost, in my case £181000, then they will actually cover upto £500000 worth of costs. If I ring them and tell them that I specifically want the re-build cost to be £181000, then I will pay the same premium, but they will not extend the cover should there be a shortfall.
WTF?
Phil
Block policy verses individual one.
If you have the number then phone and ask.
Why do you want to reduce the sum insured to £181,000 when they are happy to offer cover for up to £500,000? I can see no benefit to you whatsoever. It is a standard principle of insurance that the sum insured is a cap beyond which cover will not be paid for.
Peter Crosland
In message , Peter Crosland wrote
I'm just looking around for new insurance after receiving a Tesco renewal quote that's over £100 more than last year (approx 40% increase on buildings and contents).
Quite a few insurance companies seem to be doing on-line offers for rebuilding at a standard £1million - they don't want to know about the actual rebuilding cost.
So far all the alternative quotes I've had are around £150 cheaper than Tesco.
In article , Alan writes
Care to share your top 5 that aren't bothered about rebuilding cost?
There are more potential costs than bricks, mortar, joists and manpower etc. How about putting up you and yours for the duration? legal costs. Extra hiddens like higher transport costs from temporary quarters etc, etc. The 500k is to cover things like that and other unforseens. Hard to cost unforseens you see.
Peter
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