Why is home insurance so much cheaper now?

[latrucha]

We moved to our present house three years ago and since I first looked into it, I have just been renewing our house insurance automatically. I'm now finally getting quotes again and it is much cheaper. Anyone got any ideas why?

Also, are those family legal expenses extras worth having?

Because companies rely on people not bothering to shop around so they slap a bit extra on your insurance every year and hope that you just pay up!

I thought that might be it!

www.dailymail.co.uk/news/article-1295825/Pauline-Little-lose-home-postman-tripped-outside-door.html

I think that's the same thing that she would have been protected on (not sure though, i just remember this story from ages ago but don't have time to go through it)

hmm the link isn't working, try this:

www.dailymail.co.uk/news/article-1295825/Pauline-Little-lose-home-postman-tripped-outside-door.html

... Preview is my friend!

Blimey. I'll get it again then. Just wondered if I was being a sucker.

Also the family Legal ins is DEFINITELY worth it - is usually really cheap but can be a lifesaver if you have some kind of claim made against you as a property owner, if you need to bring an employment tribunal case, and lots of other situations. I have used it. Also often includes a free legal helpline. Can save you thousands.

Though legal ins would not have been necessary to cover the lady in that story for the compensation claimed. She would have been covered under the main buildings policy as they always include cover for liabilities to others for injury as a result of you owning the property.

Still very useful to have the legal expenses cover as it covers you for all kinds of legal expenses not related to your property.

"the lady in that story for the compensation claimed. She would have been covered under the main buildings policy as they always include cover for liabilities to others for injury as a result of you owning the property."

Right, that's an important distinction I wasn't 100% sure on. Good to know the difference (although i also agree with your other point about legal cover being a good idea anyway, i've lost count of the number of times i see people talking about employment issues and "check your home insurance, you may be covered to hire legal help on it" but i wasn't sure what this involved really).

Yep that's right. That lady had let her buildings insurance lapse completely. Probably breaching the terms of her mortgage as well by doing that as the mortgage contract usually includes a clause obliging you to have buildings insurance in place at all times.

Thanks for that. I wondered if it was like one of those insurances you get offered on electrical goods which aren't really worth it, but am happy to pay if it is.

Yes I would say this one is good value.