Home & Business property/contents insurance.

[Multiballs]

Insurance is a must!



Look into it guys.

.. For a small amount a month or year. You can be covered.



God I sound like the adverts you see/hear on TV. I'm nothing to do with insurance.

 

[ianw]

Sadly I'm in the insurance sector for a lifetime....

We dont deal with the public, but could recommend where to go/look to get cheaper House/Small Business insurance if it helps anyone

 

[Multiballs]

The fat singer helped me out.. Go Compare.

 

[wayne g]

My pins are on my home insurance in full. No extra cost

 

[ianw]

The main issue is when pins are stored outside the home in a garage/outbuildings or at third party storage locations, policies often have small sub-limits, unless your policy is a high net worth type.

 

[JMP]

The fat singer helped me out.. Go Compare.

What basis of cover? New for old, indemnity or agreed value? Makes a massive difference.

 

[Paul]

The main issue is when pins are stored outside the home in a garage/outbuildings or at third party storage locations, policies often have small sub-limits, unless your policy is a high net worth type.

Mine didn't - Apparently as the Garage was "attached" then it was classed as the same structure. However they managed to screw that one up - apparently they were covered under the standard house contents, not as Antiques/specials - as long as they weren't individually worth more than 2k each...

 

[Calimori]

Mine said something similar, that due to their value, they were not individually special items and so no extra cost or cover was required.

 

[Multiballs]

What basis of cover? New for old, indemnity or agreed value? Makes a massive difference.

The best policy for my needs.

 

[JMP]

The best policy for my needs.

Only reason I ask is that many don't realise that when cover is new for old, their sum insured needs to represent the cost of a new machine, not a S/H value.



I guess my machines are worth about £7K S/H but with N for O insurance, it would need to be 3 or 4 times that when calculating my total Contents sum insured.



Under a common policy 'average clause' if you're deemed under-insured by half, you'll only get half of your claim paid out.

 

[Multiballs]

Thanks.. I know my policy.

 

[Calimori]

Only reason I ask is that many don't realise that when cover is new for old, their sum insured needs to represent the cost of a new machine, not a S/H value.

That is very interesting because it could catch a lot of people out if they didn't know. If my TAF was claimed on the insurance, I would probably want another second hand TAF and not expect them to find me a NIB one or buy me the only table currently being sold new. However it they did buy me a NIB AC/DC, I could probably trade it for another TAF plus another table....

My insurer said they would allow a replacement item to be bought second hand to the value I declared to them but they never did agree that value.......

 

[Multiballs]

..Find out the value & quick. It would be interesting for you to know.