Home insurance - listed building
Discussion
Wondering what people have on here for building insurance, I’ve been with NFU for 6 years now however over the last 3 years it has gone up. A lot. Never made a claim in over 20yrs etc etc. Latest renewal shows a loyal customer discount or what have you of around 15% but the premium compared to 3 years ago is up 50%.
Is it worth negotiating with them or go elsewhere? The main reason I went with them is because the house to rebuild was more than it’s value and they seemed the most understandable to deal with.
Thanks
Is it worth negotiating with them or go elsewhere? The main reason I went with them is because the house to rebuild was more than it’s value and they seemed the most understandable to deal with.
Thanks
bennno said:
Just go on confused.com, type in the details and it’ll give you a price from every insurer willing to cover the risk.
I am pretty sure it won’t. The specialist insurers who would cover a building like this are not necessarily the ones who would quote on confused.com. The house we live in is not listed (thank god) but is circa 150 years old so and is insured for probably 25% more than a normal building. With current building costs I reckon most houses in this country are under insured but that’s another story. We only moved last summer but building costs are probably up 20 or 30% since then.
We live in a listed property, and are currently insured with Pen Underwriting. They were very helpful, accommodating of ongoing extension works and put forward a competitive offering of cover/premium.
As per the above advice, I’d personally steer away from the typical comparison sites and speak to a broker.
As per the above advice, I’d personally steer away from the typical comparison sites and speak to a broker.
Cheib said:
bennno said:
Just go on confused.com, type in the details and it’ll give you a price from every insurer willing to cover the risk.
I am pretty sure it won’t. The specialist insurers who would cover a building like this are not necessarily the ones who would quote on confused.com. The house we live in is not listed (thank god) but is circa 150 years old so and is insured for probably 25% more than a normal building. With current building costs I reckon most houses in this country are under insured but that’s another story. We only moved last summer but building costs are probably up 20 or 30% since then.
Gave me lots of options for either, when transferring on to insurer web sites the risk was inured on quotation and proposal documents.
The cost of insurance depends on several factors. Location often increases costs, especially if the house is in an area prone to natural disasters. How resilient a home is to natural disasters can affect the cost of insurance. For example, the cost of it will be lower for a house built with the use of earthquake resistance technologies. That is, Homeowners Insurance in Arizona https://www.agilerates.com/home-insurance/home-ins... will differ in value from the state of New York. And I think it's quite normal.
Edited by Emeraldagaleazzi on Wednesday 2nd November 14:28
The cost of insurance depends on several factors. Location often increases costs, especially if the house is in an area prone to natural disasters. How resilient a home is to natural disasters can affect the cost of insurance. For example, the cost of it will be lower for a house built with the use of earthquake resistance technologies. That is, Homeowners Insurance in Arizona https://www.agilerates.com/home-insurance/home-ins... will differ in value from the state of New York. And I think it's quite normal.
Edited by Emeraldagaleazzi on Wednesday 2nd November 14:30
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