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newbonic

Anybody Claimed On Their Household Contents Insurance?

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We've lost an item of jewellry that will cost maybe £400 to replace (gold wedding ring weighing maybe 9g). I've checked my home contents insurance and the excess is £150 on such stuff, so if they stump up then it'll save me maybe £250. Although I'm unsure how I prove I have lost the ring - although that's a bridge I'll cross when I get to it.

But because we haven't made a claim for at least 10 years we get reduced premiums on contents insurance. So I guess that'll be affected too, and will cost me next renewal.

If I claim and then wind up having to stump up an extra £100 a year for insurance for the next 3 years then I may as well not bother.

Has anyone claimed on home contents insurance in the recent past - and then seen a big hike in premiums?

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We've lost an item of jewellry that will cost maybe £400 to replace (gold wedding ring weighing maybe 9g). I've checked my home contents insurance and the excess is £150 on such stuff, so if they stump up then it'll save me maybe £250. Although I'm unsure how I prove I have lost the ring - although that's a bridge I'll cross when I get to it.

But because we haven't made a claim for at least 10 years we get reduced premiums on contents insurance. So I guess that'll be affected too, and will cost me next renewal.

If I claim and then wind up having to stump up an extra £100 a year for insurance for the next 3 years then I may as well not bother.

Has anyone claimed on home contents insurance in the recent past - and then seen a big hike in premiums?

Yes.

Aviva.

They more than doubled the premium on renewal and increased the excess, for a nailed on provable small claim.

Needless to say I wouldn't insure with AVIVA for the rest of my days if they were the only insurer in the world.

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Yes.

Aviva.

They more than doubled the premium on renewal and increased the excess, for a nailed on provable small claim.

Needless to say I wouldn't insure with AVIVA for the rest of my days if they were the only insurer in the world.

Jeez, the financial system - the gift that keeps on giving (well, taking, mostly).

I'm with Axa, so if they have the same policy then I'd be better off ignoring my insurance and stumping up out of cash. The premium is circa £250, so if I claimed for £250 and they simply clawed it back by doubling the premium next year I'd be no better off.

Doubling the premium for a relatively small claim effectively makes it not worth making small claims.

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Jeez, the financial system - the gift that keeps on giving (well, taking, mostly).

I'm with Axa, so if they have the same policy then I'd be better off ignoring my insurance and stumping up out of cash. The premium is circa £250, so if I claimed for £250 and they simply clawed it back by doubling the premium next year I'd be no better off.

Doubling the premium for a relatively small claim effectively makes it not worth making small claims.

It was actually on behalf of my old man who sadly isn't capable of sorting these things out anymore. He was with Norwich Union (the predecessor to AVIVA) i.e. he hasn't changed his policy (!) for 50 years. This was his first claim in those 50 years.

I won't go into details of the ways in which they attempted to avoid paying out suffice to say I found their entire process to be despicable. In the end when they agreed to pay out I wanted to ensure it wouldn't adversely impact his future premiums. They told me their systems were down so they couldn't tell say.

All in all I think the only risks worth covering are probably 'tail events' i.e. low probability/high impact, such as term life assurance and buildings cover. The rest appears to be a criminal operation.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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