Hifi Insurance

Does it depend on which of their policies you’re looking at? They have at least 3, then there are policies sold under other brands, which may or may not be the same as one of those 3.

Ah quite possibly - I have a Premium Cover policy which gives the unlimited buildings and contents.

And that’s the one that quoted me a lot more!

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Cheers :slight_smile:

That’s very cheap for unlimited cover on buildings and contents. Is there any catch?
There’s certainly nothing like that available in Ireland, unfortunately.

I have Home Owners Insurance, and I bump the coverage up every time I get more and more expensive stuff. Reading this thread makes me think I need to call them and explicitly describe what I own, and make sure it’s covered.

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No catch and that includes a few expensive watches that had to be specified. Probably down to the area I’d think.

the cheapest vauxhal corsa group 1 1.0 litre !!

Building cover is normally related to rebuilding cost per Sq Metre, quite rationally I think. While building costs can vary by location, I can’t understand how your premium could be completely independent of the size of your building? Are you living in some kind of paradise?!

With a combined policy it is not possible to separate out the cost of the buildings part from contents. It may well be that for the same rebuilding cost the buildings part would be the same from the same insurance company regardless of location (though for the same house tge rebuilding cost can vary by location) - and so the major part of the very evident variation may well be due tolocation.

Doesn’t make sense to me I’m afraid. Would be akin to Naim charging the same price no matter which preamp you chose…

Sorry, I don’t understand what it is you don’t understand!

We have apparently the same insurance provided to in different places at very different cost. As far as I can see, if they are the sam policies there are three variables: one is the location, which indeed is known to be a major factor with insurance (though oddly where I live is generally regarded as a low crime area, apart from one burglary spree in 2016, yet mine seems to be at the top end of prices). The second may be differences in the optional cover detail, such as specified valuables, cover outside the home, protection of no claims, and the level of excess. The third is the person, claims history, and, apparently occupation - though I have had no claims for 36 years, and my occupation is not one of those normally triggering a loading of premium.

Maybe we are misunderstanding the term ‘buildings cover’, which I interpret as cover for rebuilding my house, in the case of a catastrophe.

That is exactly what I mean it to be. So what is it you don’t understand? My insurance, as I think are many or most of the others here, is combined buildings and contents, for which you can’t separate out what is the individual cost of each.

Cover is normally provided on the basis of a nominated rebuilding cost (allowing for site clearance, and cost of renting for a period), calculated on the size and quality of the premises, and construction cost per sq.m.
If contents are also covered on the same policy, it is normally at a level nominated by the insured, which needs to be as accurate as possible, in order to avoid being over or under insured.
You appear to be telling me that for a cost of £300, you can be insured for an unlimited cost to rebuild, and an unlimited cost of replacing contents. That is a bargain indeed!

No. My insurance as renewed beginning of this year was around £800 for combined. But the range of prices for apparently similar cover ranged from about £240 upwards - and a quick quote I got a week ago was about £400 - that, like my present policy and that mentioned by several other responders, is for unlimited cover, including a certain amount of valuables and reasonable cover outside the house… But I have yet to compare the small print.

I was looking over the T’s & C’s of my home contents insurance policy the other day because it has a clause in it that I have to declare any item over the value of £1k separately. I have several Naim and non-Naim separates over the £1k value and many just under. I wonder if a hifi system counts as a single item or not and it’s better to just declare the whole lot as one item or each individually. Got me thinking. Do Naim allow you to register your various boxes via serial number with them, which would help in any insurance claim (including your used equipment)? It would be a database and virtually cost free item for Naim to provide this service and would come under good customer support. Maybe they do this already. It would cut both ways. If they know where all their units reside they could recommend when your stuff needs servicing or what upgrades are available etc. Do they? What do you all do regards protecting your investments?

There is already a thread open on this, same title & in the HiFi Corner section

Maybe you should ask Richard to combine them

My dealer has a record of exactly what gear I have bought from him, and I’m sure he would be able to confirm that to an insurer if it was needed. I also take photos, some that show the gear set up in my house, others with the serial number visible.
My understanding is that individual items over the specified value should be listed, not just the whole system as a single item.

It may be worth looking at alternative insurers without the £1,000 limit. It seems very low.