House/Flat Contents Insurance - do you have it?

[Earlybird]

Must confess that I do not have insurance cover for the contents of my flat because I have no idea how to value/insure what I've got, have no idea which company to use, and have not wanted to spend the money. So, have simply been hoping that I'll continue to be lucky, and will never need it. Am I the only one who has been so lax?

For those of you who've got contents insurance, have you ever claimed? Was it straightforward, or were hard lessons learned?

Saw in yesterday's newspaper that insurers usually don't want to settle claims with cash reimbursement, but instead want to provide the claimant with comparable replacement items (tv, computer, etc) from their approved "suppliers". Of course, these suppliers give the insurance companies hugely discounted deals as the companies purchase products in bulk. (one of the most eye-opening parts of the article was the fact that a lost Sony tv isn't necessarily replaced with a Sony tv.....but with something that the insurers consider comparable!) Article went on to say that insurers consider anyone who presses for a cash settlement as a prime candidate for fraud investigation!

Your contents cover anecdotes and advice appreciated! You'll either convince me that its unnecessary/a waste of money, or that I'm silly not to have this cover arranged.

I would never bother putting in a small claim though. Your past history is looked at when you make clains and people who make small claims are carefully treated. Your insurance gpes up as well , the same amount no matter how large or small your claim was.

Oh god, I really enjoyed being a loss adjuster. Far more than teaching

apart from the holidays.

What happens for clothing? What about things like an extensive book or cd collection? How are those sorts of things valued/insured?

Sorry to be so dense, but I'm trying to get a grip on what contents cover means exactly. For someone like munnzieb, I imagine 60k might not replace everything destroyed in a fire. Think about it - furniture, sheets/towels, clothes, shoes, bags, curtains, lamps, kitchenware/utensils, books, etc. And then there's all the electrical goods on top......

I lost a suitcase once on a business trip, and it was amazing to compute what it would cost me to replace everything in it. After I listed skirts, trousers, blouses, jackets, underwear/bras, belts, shoes, handbags, toiletries/cosmetics, etc - I was easily over 2k, without a penny of exaggeration. I can't imagine how you replace the contents of a whole house if there's a fire, leak or some other disaster.....

Final question (for now, at least ) - how do you know what is the appropriate amount of contents insurance cover so that you're not over/under insured?

Go through each room in turn and make a note of how much it would cost to replace each item.

Usually insurance companies hire loss adjusters (like I was). They visit your house and take detailed notes. They also check for things to verify your claim eg if you are claiming for 300 Cds where did you keep them? Did you have shelfs or on the floor? If the latter then where is the evindence? Hence picures are a good idea,although having lots of evidence can look dodgy too.

Clothes are nearly always cash settled, some policies dont do this old for new so you need to check your policy wording, even if it's a new for old policy there can be exceptions.

Cds are replaced through suppliers and you'll probably find the adjusters give them authority to deal with it. They will usually give you a choice if either replacing the same you had or choosing others. Lots of kids like to choose different games if their console got stolen for example and that's fine.

when dh house was set alight, the insurence company replaced his pc with a playstation. i could never figure that out.

The onus is on you to ensure you are adequately covered. You really have to imagine how much it would cost to replace everything if there was a fire. Room by room is the best way.

You can replace electrucal items with different electrical items if you want. They value your original one first and then you have that amount or you pay the extra to upgrade or take cash from any cash settlement to do this.

Message withdrawn

iirc That comes under building. Contents is anything not attached to the building. Carpets is contents too.

I got burgled about 10 years ago. Lost everything - stereo, records, clothes, even art materials that had been used. They cleared everything out. I wasn't insured. Needless to say I have been insured ever since.

The only time I needed to claim was in October last year when the washing machine flooded the kitchen floor. I claimed for the damage caused and even though they were supposed to repair the damage and replace like with like for the floor covering, they did the cheapest, crappiest job possible and didn't do half the stuff they'd specified. Am still waiting for my new plinths for the kitchen units, despite having made a written complaint. That's Norwich Union for you (sorry if anyone works for them but that's been my experience).

Is there a website that compares insurance companies/rates? Just thinking about how I would set out to obtain the insurance. I really have no idea how to research this, and somehow think a google search or trolling through the phone book can't be the best way to approach it!

I've never found cheaper than tescos. Just phone around and get quotes.

After reading BadHair's awful experience, I feel compelled to also ask if there is a consumer watchdog that tracks/rates customer satisfaction with different insurers? If so, is that information available anywhere online?

There is an ombudsman if normal routes of complaint dont satisfy you.
Tbh most insureres give in if you complin enough, it can be a fairly subjective thing.

BH - i'm with them for car insurance, any Idea's if that's better?

bumping for the daytime crowd....

I work in insurance albeit motor insurance now. Rates change daily and different insurers dip in and out of the new business market depending on their market share, campaigns at the time.

If you want impartial advice about what cover etc to go for, go and see or phone a local independent insurance broker (I'd avoid the chains). They'll work hard to find you the best deal with the cover that's right for your personal circumstances.

Alternatively, you'll need to pick 5 or 6 insurers e.g. Direct Line, Tesco, Sainsburys etc and contact them by phone or get an on-line quote.

I work for an affinity organisation so be aware that often the brand is irrelevant as the underwiter may well be the same.

I'd also say that I had a claim with NU four years ago on my household policy and they were brilliant. HAd to make a claim with Lloyds TSB this year and they wanted to replace my item but it was no longer in existence so they paid for an upgrade and also let me buy it direct from the retailer. Money was credited to my account within 24 hours of sending them an invoice by fax.

Don't be too hard on insurers who want to use their own suppliers to replace goods. At the end of the day, we benefit from reduced premiums because they can make savings on the claims costs.

earlybird please get some insurance
we were burgled 2 yrs ago, they took camcorder and camera (with unfinished films of smalls in ) plus my engagement and eternity rings.
Couldn't unlock the double locked door so they had to go out through the broken window, hence smallness of haul, but still v distressing.
We were given vouchers to replace what was stolen to same value (ie as Hercules says, the same camcorder was a bit cheaper so that's what we got) and after some debate they paid what a couple of jewellers valued by engagement ring at (it was an antique so irreplaceable). They wanted us to buy another one from a nominated jeweller but we stuck out for the cash, wanting to shop around for somethign else we liked as much, and carried our point. We are with lloyds TSB btw and I would never not be insured.

the second moral of my story of course is always wear your rings! I never take my (replacement) eternity ring off now.

DON'T SKIMP ON YOUR INSURANCE ! Fires and burglaries may be pretty rare but they do happen.

From what I know about home insurance (not a lot). You should go around your house noting down everything in the room of monetary or sentimental value, from vases to clocks, to sofas and clothes. You should value everything at the cost that it would be to replace each item (with an item of similar specification) and not what it cost you originally. Add it all up and you should get the figure that your insurance cover should amount to. Any big/expensive items are worth photographing and keeping receipts, like others have said, insurers often ask for proof that owned the items you are claiming for.

Sorry if I'm repeating anyone else on this thread, not read every post.

we had a small fire over a year ago (close thing if we'd gone to bed when we planned we'd be dead now!)

when the insurance bloke came round he was really good. we had to have work done on the chimney and interior work too. we lost our computer and the insurance company just asked for us to fax them quotes so they could check them, and would then phone back to approve the quotes so we could get the work done.

he told us we were under insured for both buildings and contents. it had never occured to us how much money it would cost to replace our extensive book and cd collection.

having been in this situation (and got off so lightly) we would NEVER be without insurance.

Thanks for all the responses, anecdotes and information. Of course, you're all right, and I knew that I shouldn't be without this important cover. So, upon your prompting, I promise I will look into it. I'm also prompted to look into it as the petrol station at the back of my building is now closed as they are trying to find/fix a leak. The potential for catastrophe there alone doesn't bear thinking about!