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Existing Customers & FAQ Page.

Frequently Asked Questions

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Existing Customers Information

How much do I need to insure my home for?
How do I find out the rebuilding value?
What if I move house?
What do you define as "contents", as opposed to buildings?
What if I take my possessions away from home- are they covered?
I've got a lot of computer equipment - do I need to make special mention of it?
Do I have to own my home to take out contents cover?
Can I accrue a no claims bonus?
Is there a maximum amount for valuables overall and a single item limit?
What  do you class as "Valuables"?

How much do I need to insure my home for?

For contents you need to insure for the replacement value. That's because home insurance claims are dealt with on a "new for old" basis - so it's the cost of the new replacement at today's values that's relevant and not necessarily what the items cost you several years earlier.

With buildings you need to insure for the full rebuilding cost NOT the market value.  Thats because the market value includes the cost of any land (ie the plot) and local demand for a particular property ,neither of which affect the cost of actually rebuilding a house.

How do I find out the rebuilding value?

If you don't currently know it there are various ways that you can calculate this figure.  You can look at the valuation report that will have been done when you bought the house (but you might have to allow for inflation / home improvements if this is more than a few years old) or you can ask us to work it out from from the RICS (Royal Institute of Chartered Surveyors) tables that we have access to.  We will need to know the overall dimensions of your house and one or two other bits of information (like when it was built) and of course we can only offer figures as a guide. 

What if I move house?

Naturally, your premiums are based on the type of house you have, where it is and how secure a risk it represents (amongst other factors).  It's therefore essential that you tell us before you move.We can normally agree temporary cover for your contents whilst they are in transit and /or storage and initially at your new home at no cost.  Then it's a case of you completing a simple form to tell us about your new house so we can calculate your new premium.

What do you define as "contents", as opposed to buildings?

That's a good question.  As a rule of thumb, contents are anything that you might be expected to take with you when you move - the rest being buildings.  So for example, whilst carpets and curtains are contents, kitchen units, bathroom suites and decoration are buildings. 

What if I take my possessions away from home- are they covered?

Provided you've elected to take the Personal Possessions option then your personal effects
money and credit cards are covered against accidental loss or damage anywhere in the UK and normally for upto 60 days Worldwide in addition.Many travel insurance policies give a discount if you have this type of cover as your baggage is in effect already insured for any trips you take.

I've got a lot of computer equipment - do I need to make special mention of it?

Whilst it's at home it's fully covered without limit and you don't need to tell us provided your overall amount insured is correct.  If however you want cover away from home then you need personal possessions cover and limits apply. Normally anything valued at over 750 needs to be notified to us and specified on your policy. An additional premium may apply. 

Do I have to own my home to take out contents cover?

No,as long as you own all of the contents (ie it's not a furnished flat etc) then the fact that you rent your home is no problem.

Can I accrue a no claims bonus?

Yes, we offer a generous scale which can make a real difference to your premiums.

Is there a maximum amount for valuables overall and a single item limit?

For valuables, there will normally be a limit of 1/3 of the overall sum insured and if any one item is worth more than 1500 then it normally needs to be specified .These are however general guidelines and you should make reference to your policy if in any doubt.

What  do you class as "Valuables"?

Jewellery,articles of gold , silver or other precious metals, watches , furs , cameras (including video cameras) and binoculars , pictures and other works of art , collections of stamps coins and medals. 

 

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