We need to renew. Last year we didnt get cover for the licence to occupy £20k liability after being shocked at the costs in comparison to the rest of the cover. A risk we do realise but our choice.
So I am shopping around once again and am still shocked as to why or how this level of insurance is so shockingly high in comparison to other policies.
We insured our contents last year for £72 for the whole year through a mainstream insurer. We have £55k of cover, a few add ons for specific special items, removals fully covered covered etc. The policy was suitable to SFA (we checked with the company) and came under tied employed housing. However this did not cover the £20k liability.
We do not require any kit insurance and so far this year using the few companies that offer the £20k liability the cheapest quote is £24 per month for only £30k of contents cover no specific items but the £20k liability. I know £20k is a sizeable sum but if even buildings insurance with a liabilty of £100k (a similarish comparison) does not cost this much per month.
I really get the feeling we are being ripped off because there is such a limited market for the £20k Licence to Occupy liabilty.
Having owned our own house and had substantially higher cover (buildings and contents)for lower price I am struggling with this a feel ripped off. If my £180K house burnt down - my cheaper buildings insurance would cover the full cost of rebuild. If I burn down my SFA the £20k liabilty cover will only pay £20k so why is it so much more per month as in £20 more per month???
Can anyone suggest any companies that offer a fair price or they feel they have had a fair deal from please??
DH thinks we got ours through Pearl insurance. He spent a whole week of leave trying to get the cheapest quote. It did also cover DCs at boarding school in case they somehow manage to loose all of their kit rather than just 25% in a term