Is £440 a good quote for buildings & contents insurance??

(36 Posts)
hellohellohihi Fri 19-Apr-13 06:08:12

Never had either before!!

We're buying a house for £340k, 4 bed semi. Contents at £35k then engagement ring £7k, no bikes, excess £250. They've suggested rebuild cost of £287k...

This is from one of the comparison websites...

Is this good?

hellohellohihi Fri 19-Apr-13 13:53:13

We're home counties.

Taking my ring off seems to knock off about £50...

Got £430 with Bradford & Bingley...

I wonder if the fact this is our first ever policy makes a difference (ie no claims free years previously).

Need to sort ASAP as trying to exchange on house today and need insurance in place before we can!!

it probably does make a difference as we have never had a claim so have a lot of years no claims discount.

culturemulcher Fri 19-Apr-13 14:05:08

Seems high to me -although the area you live will have a big effect on price. I'd have thought you should be able to get around £70K of cover for under £400.

HotelTangoFoxtrotUniform Fri 19-Apr-13 14:05:32

I think it can really vary on where you are. We're in a dodgy up and coming part of London and pay £800+ just for contents (up to £65k, valuables of £20k) with Hiscox. We chose them because they offer high contents cover as standard - £35k sounds like a lot until you work out what it would cost to replace everything in the event of a fire - and have a single item limit of £15k. With your expensive engagement ring they might be worth a look?

I can't rate them highly enough - we had to claim after our bikes were stolen and they sorted it so quickly, effortlessly and politely it was marvellous - we had the whole thing completed in 4 days.

culturemulcher Fri 19-Apr-13 14:09:49

£800+ for just £65K cover shock. Blimey. unless you live on Park Lane

BooksandaCuppa Fri 19-Apr-13 15:12:21

Your contents cover price will vary based on: burglary rates in your postcode; security on your house; level of occupation (ie if you go away a lot); obviously whether you want accidental damage, expensive items etc.

Buildings cover depends on things like: detached/semi/terraced (detached is cheaper than the others because in the event of fire/similar damage you won't be damaging your neighbour's property as well); flood risk in your area; age and condition of property.

Both affected by whether you have NCD and/or previous claims and then possibly other things like your occupation/age etc.

We pay about half of your first quote - 4 bed detached in Midlands; no special possessions; max NCD.

HotelTangoFoxtrotUniform Fri 19-Apr-13 16:36:20

Believe me culture was the cheapest quote by a long way. Unfortunately lots of people in this neck of the woods see ownership of property as fluid and help themselves to your stuff. My point was we pay a lot because of where we live.

I expect hello's engagement ring is an issue for lots of insurers. Hiscox has such a high single item limit that it won't affect the quote iyswim

culturemulcher Fri 19-Apr-13 17:49:10

hotel gulp grin

FasterStronger Fri 19-Apr-13 17:51:46

* They've suggested rebuild cost of £287k*

this is incorrect - average rebuild cost is about 1/3 cost to buy the property.

they are ramping this to increase their figures and it is not in your interest.

SoupDragon Fri 19-Apr-13 17:58:41

Mine is around that with L&V but your contents sounds very low. £35k to replace absolutely everything in your house...?

I went with them after going through Comparethemarket purely to get my free meerkat

purplewithred Fri 19-Apr-13 18:02:09

it depends very much on your postcode. Try compare the meerkat or one of those sites for a basic quote for your buildings and contents to see who comes up good, then phone up two or three you like the look of to get detailed cover for your stuff.

I just paid £350 for £500k rebuilding, £50k contents + £3,500 out of home valuables, but I live in a newish build house in a very naice area in a naice part of Surrey with a waitrose and everything. Oh and I'm over 50 which makes a difference apparently.

Irritatingly, last year's insurers' requote was the best so all my compare the meerkatting was in vain. But I did manage to cut the pet insurance cost in half.

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