Household Insurance

[Tramper]

Just had our Household Insurance renewal come in, it has gone up nearly £75.00 from last year.
A bit of background on this, three years ago we were the victim of a break in at home and various items were taken which resulted in a claim to the tune of £12,500.
The claim was dealt with very quickly and we were paid out. We have stayed with the company since mainly because of past experience and reasonable renewal quotes. About ten months ago the loss adjuster contacted us saying that one of the watches that was stolen has now been recovered and did we want to buy the salvage.
we said we might be depending on condition as the watch was ‘as new’ when it was stolen, also the box and papers were not with it (no surprise there)
Anyway they sent photos of it and it was in a terrible state filthy dirty and scratched quite badly. Now the loss adjuster describes it as not bad condition, they eventually told us what they wanted for it we duly declined as we thought it was a tad on the high side plus the watch has now been replaced. We thought that was that and thought no more of it. Now when the renewal came today it was nearly £450.00 for the year which I thought was quite a lot. This figure is for contents only I might add.
We were told as the watch was found and to this day has not been sold, we still have an open claim and so we cant change companies and we have to pay the renewal quote, they seem to have us over a barrel, I do realise we would have to declare the break in to any new company but it would show up as an open claim still which I just don’t get.

 

[MrGreedy]

I would hope that if you used a broker, or even declared an open claim when seeking quotes and then you were called back by an assessor for another insurance company, when you explain the situation of the open claim
(your existing insurance company have eventually had the watch recovered, and won't close the claim until you buy the watch back in an attempt to either keep you as a customer or prevent you from taking insurance elsewhere) then any sensible insurance company that is capable of independent thinking (not guaranteed I know) would be able to understand this risk and move it into the 'irrelevant' bin?

Do you know how the 'open claim' prevents you from getting insurance elsewhere?

 

[Tramper]

We deal with the Insurance Company direct (Sheilas Wheels) wha I don’t understand is that the claim was closed until the watch turned up then re-opened.
We can go to another company but they are saying it will show as an open claim thus hiking the price. Who knows how long it will take to sell the watch.
when speaking with them today, they didn’t even know that the loss adjuster had offered the watch at a price to which we turned it down saying we didn’t want it.

 

[Wearsthefoxhat]

I would speak to a couple of companies, explain my history and see what they quote.
I would not take the word of my present insurer without checking elsewhere..

 

[ChrisEdu]

If you're over 50, try Saga. I'm with them now, as my contents cover needed a bespoke policy duecto value, and Saga were the best quote, and a good policy too.
I used to be with M&S, but my cover was circa £800p/a, now it's almost half that.

 

[fabes]

Claim is not open.
Watch is their property now
They are talking.......

If not done, in writing, decline offer of buy back just to seal that though in case their admin is as bad as their advice.
At the same time, write to them advising claim was settled to your satisfaction and matter is closed.
Now source an alt quote.
A UK based insurer (Admiral, Aviva, DL or even your bank)will have agents you can talk to if necessary.

 

[Tramper]

Thank you all for the replies.
Im going to speak with them tomorrow, I have the loss adjusters contact as well.
I just feel we are being bullied into renewing with them which I’m not comfortable with at all. The watch in question was offered back to us at the price we were paid out at but in a terrible condition which I’m not prepared to do.

As a by, if anyone has anything single item of value make sure you have photographic evidence of it and receipts or valuations ( which are up to date) it was a steep learning curve for us at the time, secur certainly has been stepped up now.

 

[ChrisEdu]

Thank you all for the replies.
Im going to speak with them tomorrow, I have the loss adjusters contact as well.
I just feel we are being bullied into renewing with them which I’m not comfortable with at all. The watch in question was offered back to us at the price we were paid out at but in a terrible condition which I’m not prepared to do.

As a by, if anyone has anything single item of value make sure you have photographic evidence of it and receipts or valuations ( which are up to date) it was a steep learning curve for us at the time, secur certainly has been stepped up now.

I had to get a safe, from a specified spec list, in order to satisfy my insurance company previously. It's well worth comparing what different companies cover with/without the need to specify in the policy. Even within the same company, often if you have a high value / custom pick, you often find higher limits for items.

 

[Tramper]

We now have a safe and cctv and a house alarm, which wasn’t cheap but compared to the heartache of the break in and the damage caused, it was price worth paying.