Property Insurance

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Christine Kenyon
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Post by Christine Kenyon »

Hello BigSis .... and thank you for correctly interpreting my glitch! Oh, if only it were holiday insurance I was after 8) .

Thank you for the tip about Letsure. I shall try them.
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Big Sis..
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Post by Big Sis.. »

Hi Christine....Youre Welcome :wink:

I used Letsure at the beginning because TBH. there werent many at that time that catered for Rental properties. but I think most do now.

They also give a discount for Multiple properties......
Christine Kenyon
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Post by Christine Kenyon »

Pleased to report that I have now renewed my holiday cottage insurance.

I tried Letsure and Schofields, but found them expensive. In the end, I've gone with Intasure. Very helpful on the phone; reductions for more than cottage; top price was £302.68 for building and contents.
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Windy
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Post by Windy »

Code: Select all

I tried Letsure and Schofields, but found them expensive
Well Schofields were less than half the price of the insurance that South Lakeland Parks tried to sell me :lol:

I will check out Intasure.

I wish this weather in the Lakes would perk up a bit!!!

Thanks

John
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Windy
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Post by Windy »

Hmm Intasure do seem to have a lot of exclusions compared to Schofields. I'm not sure that saving £50 to add a load of potential concern is going to be such a good trade off. alwasy good to have alternatives and I like their multi-property discount.

Hope the weather up the valley is as lovely as it is in Troutbeck today!
Christine Kenyon
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Post by Christine Kenyon »

Hi John. Interesting what you say about exclusions. Intasure compare very favourably with our last insurer, so I'm not complaining.

Also pleased to report that the weather this side of Kirkstone is glorious and very hot. Not so good when you're ironing :evil: , but fabulous for meals out in the garden and days out in the hills.

Enjoy the sunshine 8) .
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Post by Nightowl »

our current buildings and contents for the 2 london flats which are both in the same building - rebuild value for the whole property about £350,000 - I think at last estimate - is an eye watering £1900+!!!

Near impossible to insure; being in London (Schofields won't insure London holiday homes for some reason...., I think a couple of others wouldn't either... but the real big difficulty is the fact that it was underpinned about 10 years ago - honestly you'd think it was about to fall down rather than been made completely stable the way insurance companies treat underpinned properties. So that is the best quote we can get for an underpinned property that is ALSO a holiday let. We have toyed with the notion of just dropping the subsidence cover but we know that if we do that, after 10 years of it not moving, the minute we drop the cover, cracks will appear. But its not the best holiday home insurance we can get, loads of caveats - but we just can't find anywhere else that will even consider it and include the subsidence cover.

We did get Intasure to quote (cheaper) but it was all a bit vague - the wouldn't confrm that they would accept subsidence cover unless they inspected it and they wont inspect it unless we accept their quote. And if they decide they can't insure for subsidence they wouldn't reduce the premium. So that sounds like heads they win and tails we lose.
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backwards......
Christine Kenyon
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Post by Christine Kenyon »

Hi Nightowl. We had a similar problem with Grisedale Lodge which is a B&B and a holiday cottage .... and is located in a flood plain. No history of flooding in over 150 years and if we get flooded, the whole country is in trouble, but insurers wouldn't touch us with the proverbial barge pole.

We could get the ground floor holiday cottage covered easily through a holiday cottage specialist. No one would touch the top two floors because of the flood risk (eh??). In the end, I contacted a broker and got the whole building insured through Axa for a whopping £1,300 (that was three years ago).

When the insurance was due for renewal, I did some research via google and found Quote Direct who obtained insurance for just under £700 from Prestige. I can live with that.

What I can never understand is that as we're in a flood plain, we can't get cover for flood damage. OK, that's a risk we live with. So the insurance company excludes what they perceive as the biggest risk, but still charges over the odds for everything else. Surely, our fire risk doesn't increase 'cos we're in a flood area :wink: .
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Windy
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Post by Windy »

Interesting what you say about exclusions
Christine - if you look at Schofields web site they have a page comparing their policies with others - it was obviously written to pick out the differences between their cheaper competition and themsleves.

Looking at it the dozen or so owners who suffered burst pipes last year would not have been paid out by Intasure as, for them, the problem arose due to bottled gas running out. Probably not an issue for you, but it does show that it pays to read the small print!
Christine Kenyon
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Post by Christine Kenyon »

Am just getting my magnifiying glass to re-read the small print 8) . Did have a good look at my policy after your last comments and what Intasure are offering seems to work for us. Hopefully we'll never need to test it ...
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