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Buildings and Contents policy. Who actually pays out?


Bus Stop Boxer

Question

Bus Stop Boxer

In process of renewing. The annual ball ache of trying to decipher which insurance providers will actually pay out in the event of a claim.

Nearly all the firms listed on comparison sites get an absolute pasting on Trust Pilot et al.

Any personal experience recommendations?

I know that NFU mutual are good but their premiums are way high.

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4 answers to this question

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On 10/09/2019 at 15:24, Bus Stop Boxer said:

I know that NFU mutual are good but their premiums are way high.


How do you know this? Because their advert tells you they settle X% of valid claims?

"We can explain what limits and exclusions apply, so you can ensure the cover is right for you – or take a look at our policy reference booklet for more details."

I suspect they break down the policy into more things to make it seem like they're going to give you a good deal if something bad happens.

 

One insurer didn't pay out on a claim because the home owner had said they had a different number of bedrooms to the number stated when sold (Bloody downstairs bedrooms are insane!) 

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I was with Hiscox. They paid out just shy of £40k without any argument.

So I would recommend them.

I no longer have contents insurance, however, as I have nothing left to steal.

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Bus Stop Boxer
5 minutes ago, sarahbell said:


How do you know this? Because their advert tells you they settle X% of valid claims?

"We can explain what limits and exclusions apply, so you can ensure the cover is right for you – or take a look at our policy reference booklet for more details."

I suspect they break down the policy into more things to make it seem like they're going to give you a good deal if something bad happens.

 

One insurer didn't pay out on a claim because the home owner had said they had a different number of bedrooms to the number stated when sold (Bloody downstairs bedrooms are insane!) 

Thats a perferctly reasonable question. I based it on Defacto i think. I went with direct line in the end as they seemed the most straightforward.

Crap Shoot.

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All insurers employ risk analysts whose job is to find holes in your policy in order for them not to pay out. 

Add to that the fact that most insurance companies have the same underwriter anyway, and they're all pretty much as bad as each other. The worst thing you can do is use a white label insurance product like John Lewis, which is just a rebranded Axa policy but with a 20% premium for the John Lewis name. 

Speaking of John Lewis, generally most people would say they're a well run, decent company - then you realise even they're rated 0.7 out of 10 on Trustpilot, as it's just full of people complaining which warps the figures. Nobody bothers to leave good reviews unless they're being bribed with a discount. Same with these insurers you mention. 

So what to do? Stick with Axa or Direct Line... and expect them to fuck you over if you ever need to claim. And read the fine print regarding the contents cover in particular, it's pretty much legal theft. Ive got mine set at 25k, the absolute minimum. 

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