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Questions and Answers

Home insurance quote question about 1st time buyers - what is its relevance?

Q) I'm getting an online quote through Admiral and it asks if I am a 1st time buyer (I'm not), but I'm wondering what relevance this has and if you benefit or lose from being a 1st time buyer in these quotes. Answers from those in the know please.

A) Well, if you're NOT a first time buyer, then you have prior homeowners insurance - and a track record at maintaining (or not, as the case may be) a home in good condition. In either case, they are going to run a CLUE report, so if you have any prior claims (homeowners OR renters) they'll show up. Sometimes, if you have prior insurance, there's a credit available.

Cheap quote for home contents insurance for tenants in common.?

Q) A friend and I have recently purchased a flat together as tenants in common. We only need home contents insurance. Buildings insurance is joint with other flats in the block. Our current quote is £25 per month with Nationwide. We would like to know other companies who offer this type of insurance to see if we can get it any cheaper. n.b Confused.com does not allow tenants in common in their search. Thanks Mark

A) Hi mark, Im a tenant in common and have insurance with Nationwide. I am not aware if TIC differs from other policies, married couples, for example. After all, its only the contents that are being insured.

motor home insurance in ireland names of companies that quote please?

A) quinn direct axa endsleigh

Who gives the best home insurance in the UK?

Q) I am with Liverpool Victoria with my car and they are by far the best. I got a very good quote from them on the internet for the home insurance.Does anybody agree with this or does anyone know of a better one? I had been with HSBC for 4 years paying triple if the Liverpool Victoria premium and we had a water leak into the front room, they wouldn't pay, a leak into the kitchen from the bathroom and they wouldn't pay and now the integrated fridge broke down and they wouldn't pay. Well , my fridge broke down a week ago and I am with HSBC and they are expensive and won't pay out. So I guess I wnat one that covers leaks, broken appliances. So cheap and most likely to pay out would be good. Most likely to pay out would be better.

A) Sorry to hear of your problems with Insurance. Most UK policies will provide cover for damage caused by escape of water (eg a leak). The Insurance will pay for the cost to repair the damaged caused by the leak (eg water damage to carpet etc) - It will not repair the leak itself. This would be the same situation with Liverpool Victoria. The same applies to your fridge breakdown - Your home Insurance policy will pay to replace the damaged food caused by the breakdowm, but it will not replace or repair the fridge. There are seperate Insurance policies available to cover the breakdown of white goods in your home (eg, fridge, freezer, washing machine etc), but these are expensive and will only provide cover if the items are less that 2 or 3 years old - This means the more your need it (because your white goods are getting older and more likely to brekadown), the less likely they will insure you. I'm not sure you will get any insurance to cover you for the cost of repairing a leak - try you Water Company, as sometimes they have a policy which will pay for one of their engineers to come out and fix the problem - but I think it is expensive for what you get. With regards to the best Home Insurance company in the UK, I suggest you speak to a local Insurance Broker - Cheap isn't always the best. I would recommend you make sure any quotation includes Accidental Damage as a minimum. You may also want to opt for cover outside your home (eg jewellery, bikes, camera equipment etc) - but this will cost extra. Good luck with your search.....

Insurance for a home based business?

Q) I import shoes and clothes from china and sell them on Ebay and thru other website.I live in a dodgy area in north london and am a bit worried about getting broken into or robbed at gun point.Does anyone know where I can get an insurance quote for these items? they are worth about £20,000. I live in rented property and dont have any type of insurance at the moment. thanks

A) I recommend you do a little research with the Business Opportunity Search Engine. Being community driven it’s a cross between a search engine and a Wikipedia. You can add, delete and improve the results for much more focused answers than a general search engine can provide. http://www.BusinessOpportunitySearchEngine.com

What home insurers quote when people have claims in the last three years?

Q) Our plumbing decided to freak out this year and we had a spate of three water damage claims. Our insurance company have now said they will not renew our policy and I can't find any companies who will even quote us. This is surely something a lot of people have happen, so who do they go to? We are in the UK, so any details would be gratefully received. Thanks guys

A) The previous answers are correct. You might act your old agent if they are familiar w a high risk insurer in your market. You will be saddled w significantly higher premiums & deductible for at least 3 years. If financially possible, an action which will help your cause, & apparently is needed...would be to have your home re-plumbed, at least partially. Tho somewhat costly it will prevent future losses which you likely won't be able to secure coverage for, avoid headaches w same, & adds value to your home. Often a bank will approve a loan for these types of home improvement. Good Luck !

Is our Insurance company ripping us off and whats the point of fully comprehensive cover?

Q) Okay, to cut a long story short Dad has his pride and joy G reg Jag stolen (market value next to nothing but as a retirement present to himself priceless) Police recover it next day Damage to car is: one rear quarter glass smashed, steering lock damaged beyond repair and dash board damage. Garage has quoted nearly £2000 to repair ??? The garage, realising the good condition of the car and how much it means to my dad, called yesterday saying the insurance company have told them to send the car for salvage on Monday. We strike a deal with the garage to deliver the car home and phone the insurance company (bearing in mind we hadn't heard anything from them in nearly to weeks) Yes the car was to be scrapped as it is beyond economic repair and a settlement figure is in the post. Can they just scrap a car and then send out a settlement figure ? Anyone know the best way to deal with elephant.com or are we stuffed. Oh, and in their small print they have a "no buy back" clause

A) I would say take it to a lawyer, they should atleast give you the value of the car as it sits, which would be something towards its repair. insurance companies do this to save time and mony for themselves. Thats where a lawyer is priceless.

Business Insurance..?

Q) Why do I need busines insurance if I only trade at home through the internet (selling my own custom built software programs)? And what business insurance would I need to do this? Also does anyone have any links - where I can get a quote on this sort of trading? Thanks in advance.

A) If you employ anyone, you need employers liability. If you are on your own, business interruption insurance could be advisable, to cover you if you fall very ill. Also, insure your equipment and against your software being pirated.

If an insurance company lets you down......?

Q) If you had a good policy on your home (buildings and contents) and you suffered a serious flood and your insurance company totally let you down, what sort of compensation would be due? My home was hit by a flood last year, from day 1 things went wrong with the claim: We were never moved out our house while it was dried (4-6 weeks of equipment running 24/7). We were never given B&B accommodation. Our new for old cover only paid out at about 50% of retail value on items lost. We were left to sleep in an empty property with no heating, furniture, etc (just a bag of clothes, a tv, a microwave, 2 sleeping bags and 2 blow up beds) for six weeks after they removed all our things into storage. The original quotes for the rebuild were around £40'000 but the insurance only covered less than £8'000; leaving us to cover the rest. It took over 5 months before anything was said let alone done, and going into 11 months before we got back home (still unfinished). Compensation Amount ??

A) All insurance companies are regulated by the Financial Services Authority. Write directly to the Ombudsman http://www.financial-ombudsman.org.uk/ With times, dates, etc. They will let you know whether or not you have the basis for a claim. There are basic rights you are afforded such as the insurance company responding to you letters/phone calls and settling your claim one way or another within a certain amount of time. Good luck!

I have a problem accessing links/boxes on web pages that use javascript to move to a different URL?

Q) e.g on directline.com if I click on 'get quote now' I just get blast of sound & nothing happens - I can't get any further. Another example is confused.com with 'car insurance' or 'home insurance'. These links show at foot of page 'javascript:open new window url' or ':go to car insurance'. Can anyone help to resolve?

A) try using mozilla instaed of i.e you can get it here free www.getfirefox.com

Which company offers the best value for home insurance policies in Massachusetts?

Q) I recently bought a condo and live in Massachusetts, and I am researching home insurance quotes. Suggestions?

A) I would check out InsureMyHouse.com They list local agents by zip code.

home daycare insurance quotes?

A) Find a local agent through InsureMyHouse.com

Home insurance how does it work?

Q) Hello, My question is, does anyone know how insurance companies decide if an area has a high crime rate? Do they just go by recorded crimes that have had claims through insurance or any recorded crimes regardless? I have been interested in getting home insurance as my parents don't have it for our house and I have quite a few expensive things I would like to ensure. When I tried getting quotes from some of the big home insurance company websites, the quotes were very high (double the amount my friend got) - He lives near Kings Lynn in a Town, I live near to Stansted Airport in a quiet village with a population of around 250. The crime in the area is non existant. The only thing I can think of that could be causing the higher quote is there is an old lady who lives in a bungalow on the same post code as us who has been burgled 3 times no less whilst she has been in the house. THis has been the only crime in the area for years and years, I am pretty sure she does not have insurance

A) Home insurance rates are basically made up from the following: Ammount of coverage, type of home to be insured, location of home, claims history, prior insurance, various discounts, what deductible is chosen and your Insurance and Financial Stability (think credit). Claims frequency in an area is taken into account but not to the degree where a company will differentiate rates on a street by street basis. A wonderfull example of claims frequency making rates higher is a coastal, hurricane prone area vs a town 150 miles inland. The ammount of coverage is kind of a no brainer, a million dollars in coverage will cost more than a hundred thousand dollar home to insure. Similarly some homes are constructed differently and therefore are cheaper or more expensive to insure. Not having prior insurance is probably driving your rate upwards and also not qualifying you for other discounts (such as a claim free discount which had you had insurance you may have qualified for if you had no claims). Further, if you've had several claims in the past you obviously be rated higher since you have a tendency to file claims (valid or otherwise). Also if you have a lower deductible you will have a higher premium and if you have high deductible it will lower your premium. Lastly, insurance companies do rely on an estimate of your insurance and financial stability into account while rating your policy. Your best bet will be to sit down with an agent and ask him why your quote seems high. Hope this helps some.

home insurance for a home that was built 107 years ago...?

Q) why on earth did i get a quote of 3500-4000 for 300k insurance on this home? Is the home that damn old?

A) I'm an insurance agent and I also have an old home. My house was built in 1903. There have been a lot of updates to the house including the wiring, heating, plumbing and shingles. The reason the premium is higher is because they can't place you in their best program due to the age of the home and the reconstruction cost of a home that old is much much higher than the same size house built in the past 20 years. What you need to do is ask them to use modified replacement cost. Not all companies will do this so you have to find a company that will. With modified replacement cost you are agreeing that if there is a loss you will replace with today's materials. (ex. woodwork that comes from a home improvement store instead of having it hand milled to match all the rest of the woodwork in the house. When you use modified replacement cost is brings the replacement cost of the house down considerably so your insurance is cheaper. I have done this with my house. If your house is on the historical register you probably will not be able to do this but you should check it out.

Home insurance in the UK? how does it work?

Q) I am a tenant in an appartment in London with my boyfriend. I'd like to know if I need to get a home insurance for this appartment and what king of insurance (building or content???). I mean, if there is a fire, a window broken or a inundation problem, do we have to pay for it or is it the landlord? Idem in case of burglary? Finally where are the best place to get it? I tried to get some quote from diverse companies (HSBC, Tesco Insurance...) but the price was crazy: around £250 per year. Is that always that expensive in the UK? (I used to live in Paris and it was less that £40 a year for a complete cover insurance). Many thanks

A) You will require home contents insurance as you do not own your building and therefore have no insurable interest in it. Typically this comes with liability as an occupier and personal liability towards others for members of your household, money and cover for certain possession outside the home. The cover can be "standard" fire flood, water damage, vandalism theft / burglary etc and then "Accidental Damage cover. Many policies include this accidental damage on certain items such as TVs computes etc in the standard package. In addition you will have some form of cover for alternative accommodation should your home become unoccupiable due to insured peril. The premium is calculate by applying a rate to the sum insured. Eg £30,000 contents are charged at £x premium per £1000 contents. This rate is based on the postcode of the flat. Central London is expensive. I hope this assists. xxR

Who is your homeowners' insurance company?

Q) We are first time buyers, and naturally sought to ask our agent who holds our auto insurance policy. He's come up with a ridiculous rate because I plugged in the same data and came up with lower figures. So, who is your home insurance company, and do you like them? Oh, and if you find a good auto insurance quote from a company along with a good home insurance quote, can you cancel your current auto insurance policy (which lasts until Oct.) without penalties? We are with AllState. Thanks!

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How do you start a home based auto insurance? Example making quotes, issuing insurance and taking payments.?

A) Insurance involves licensing and that is regulated by each individual state. It sounds like you want to try and be an insurance "broker" vs. "agent". Broker sells for many companies, agents sell for one. The insurance company is the actually holds the licenses. To my knowledge an individual cannot just throw up a sign and become an agent. If you truly are interested contact some of your local insurance companies and ask them about a job their first. Then after you become licensed, and gain experience you could attempt to do it on your own, if your state allows it.

Would you like a free quote on your auto Insurance?

Q) I have the best rates just let me know if you want a quote....home and auto together save's the most money!

A) NO COMPANY EVER charges for quotes for personal insurance. So you're not exactly giving anything away, ya know?

Buying a single family home, what about Personal Property Reimbursement empty (home insurance field)???

Q) Guys, I need your help. I am in CA and will be closing on my house in 30 days. I understand that home insurance is a requirement. I am thinking of going with Allstate as my car with insured with them as well. The question that I have is that the quote they gave me doesn't an amount for the "personal property reimbursement". But when I got a quote with Farmers, I did get one (200k). I have asked the Allstate agent and am told that this is normal, but I am still covered. Any ideas on what this means? I am very confused about what to do and want to be sure that 100% covered. Thanks in advance!

A) The insurance policy required by a lender covers the building itself. The lender doesn't care about your personal property, but you do. Allstate is a reputable company and you simply need to read the policy, which should itemize what is covered and how much for each item. You can add and remove some items from your policy (for example you can have coverage for your stamp collection added, or you can increase or decrease your liability coverage.) It would be extremely unusual for a company like Allstate to offer a policy with no coverage for personal property. If your agent says "it's still covered," ask him or her to show you where it says so in the policy, what is the amount of coverage (maybe you want to increase it, if you have very nice things.) It MUST be itemized. I cannot believe they give you a policy which is not itemized.

How much is your home insurance premium in Toronto east neighborhood?

Q) Please give me an idea of your home insurance premiums if you live in a neighborhood in Toronto East. For example, I was quoted $1,046/year by a company for a semi-detached home. I'd like to do a really loose comparison.

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