House Insurance - Grade II Listed Barn. What to do?
Discussion
I used NFU for my first year in my property as it was my first time in a listed building and I wanted to get insurance that specialises in old buildings as I was a complete newbie.
A year in and I'm more comfortable with accepting that maybe I do not necessarily need specialised insurance, especially as the renewal quote has just landed on my doorstep at £800. £650 of that is for £650K rebuild costs.
So, from experience out there, is there something else I should consider for listed building cover or do I even need a specialised insurer?
I'm happy to pay for quality cover but do not want to waste money unnecessarily if I do not need to.
Interestingly I did get an unsolicited quote from Saga for £290 which included buildings cover up to £1m.
Thanks
A year in and I'm more comfortable with accepting that maybe I do not necessarily need specialised insurance, especially as the renewal quote has just landed on my doorstep at £800. £650 of that is for £650K rebuild costs.
So, from experience out there, is there something else I should consider for listed building cover or do I even need a specialised insurer?
I'm happy to pay for quality cover but do not want to waste money unnecessarily if I do not need to.
Interestingly I did get an unsolicited quote from Saga for £290 which included buildings cover up to £1m.
Thanks
I had my NFU renewal quote yesterday £1173
Last year it was £700. I've been with NFU for years and never claimed.
Reluctantly I did one of those compare quotes and got prices ranging from £211 - £830, most were in the £300-400 range.
I called NFU and told them to put it where the sun doesn't shine!
Last year it was £700. I've been with NFU for years and never claimed.
Reluctantly I did one of those compare quotes and got prices ranging from £211 - £830, most were in the £300-400 range.
I called NFU and told them to put it where the sun doesn't shine!
Listed Property Owners Club - https://www.lpoc.co.uk
Certainly not the cheapest, but talk to them about the cover you get.
Certainly not the cheapest, but talk to them about the cover you get.
yellowtang said:
I had my NFU renewal quote yesterday £1173
Last year it was £700. I've been with NFU for years and never claimed.
Reluctantly I did one of those compare quotes and got prices ranging from £211 - £830, most were in the £300-400 range.
I called NFU and told them to put it where the sun doesn't shine!
They pride themselves on an unrivaled claims experience and have won many awards accordingly. Last year it was £700. I've been with NFU for years and never claimed.
Reluctantly I did one of those compare quotes and got prices ranging from £211 - £830, most were in the £300-400 range.
I called NFU and told them to put it where the sun doesn't shine!
What they won't do though is compete on price to compromise the ability to deliver that.
Had my NFU renewal for a 650k rebuild and 100k of contents at £2,660
Grass roof, you see.
Had other quotes for equivalent cover for £1,800 so have given NFU a chance to reconsider before I take my business elsewhere.
Just had car insurance renewal through at £200 more than a new quote too. Looks like all-change this year then.
Grass roof, you see.
Had other quotes for equivalent cover for £1,800 so have given NFU a chance to reconsider before I take my business elsewhere.
Just had car insurance renewal through at £200 more than a new quote too. Looks like all-change this year then.
We used to insure our thatched cottage through NFU, full cover with contents and accidentally damaged items. Good cover but expensive. Made one and only claim for a video recorder damaged beyond repair. What a performance that was I even had to take the item into their office for them to inspect. At renewal time the premium had gone even higher, went elsewhere for half the price and still very good cover.
weeboot said:
They pride themselves on an unrivaled claims experience and have won many awards accordingly.
What they won't do though is compete on price to compromise the ability to deliver that.
That is true to an extent, however....What they won't do though is compete on price to compromise the ability to deliver that.
I have a friend at NFU and main driver for price is your desirability as a customer. That's the case for all insurers I guess but NFU take it rather further than most insurers. If they perceive you as being a potential investor with them for example, then you are going to get preferential premiums. The traditional risk profiling used by insurers simply doesn't come into it.
Coincidentally, I've literally just got off the phone to NFU head office, yesterday after telling my local office/broker to bugger off, I made a complaint via the main NFU website and today they've actually responded! Now that is impressive to be honest.
The guy is speaking with the underwriters and calling me back........
oilydan said:
Is that equivalent cover to NFU?
My new insurer has an increased excess at 100 instead of 50. That would mean I would need to claim 16 times over the course of the year to not make it worthwhile...
Yes it is. In fact the Hiscox quote was for build cover up to £1m with same contents and excesses.My new insurer has an increased excess at 100 instead of 50. That would mean I would need to claim 16 times over the course of the year to not make it worthwhile...
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