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I've just come off the phone to M&S home insurance and spoke to an interesting chap who basically said that the "un-named items upto 4k" part of the policy is being seriously reviewed and will probably be dropped in the fairly immediate future. Basically the underwriters have been stung pretty badly on it over the last 2 years, particularly on bikes, and it's not viable for them anymore.
I've had to cancel my insurance with them after making a claim as they will only insure me for 1k per bike max. He said that it was fairly probable that this level would become standard on all new policies in the immediate future.
Might be worth getting that insurance sooner rather than later if you were looking at M&S as an option.
we had exactly the same after a big claim , 3 bikes stolen . spoke to
AXA the M&S underwriters and they said its thier policy not to reinsure at the 4k after a big claim !!
Aye, a riding buddy mentioned at the weekend that he'd recently had exactly the same experience with M&S insurance after a claim. I'm more surprised you managed to talk to "an interesting chap" at an insurance company.
I've just had my renewal notice through and the £4k limit is still on there. It's about £560 for contents only though,, which seems like daylight robbery to me!
Last time I tried a requote online I was refused due to being on/near a flood plain though, which also made shopping around tricky. The 2nd floor flat aspect isn't relevant 🙄 With that in mind, any viable alternatives with similar cover? John Lewis supposed to be good?
PSA - If you are going to use M&S building and contents insurance, use Top cashback, for a £45 cashback.
[url= http://www.topcashback.co.uk/home ]http://www.topcashback.co.uk/home[/url]
Worked for me yesterday 😉
(4k limit was fine yesterday btw)
RichPenny, I had that issue last year on renewal, but last night I tried again as my renewal is up and I was able to get a new quote. My contents only renewal letter was £295 and the new quote was £165 (plus I have gone through TopCashBack for the £45).
I was paranoid I must be doing something wrong, but it looks completely right and the cover is still up to £4k unnamed even though I had to make a claim with them 2 years ago for a broken frame.
I'm more surprised you managed to talk to "an interesting chap" at an insurance company.
I work for an insurance company, I'm [i]fairly[/i] interesting.
Ours is up in October, be interesting to see if they have changed it. Even though I get a 30% discount on our products M&S were still far cheaper!
😆
Mine still has the 4K cover after we got burgled, however there is now a requirement for 3 x 5 lever locks on external doors, burglar alarm which remotely notifies you/people when it goes off and maintenance contract.
Luckily I had all but the maintenance contract, switching the alarm on when we go to bed is a PITA though.
Got declinded in May by M&S due to next door but two getting flooded although I never had - I think the girl on the phone said its now within one mile.
Anyway after hours on the phone Swinton were the only ones who would cover me for house & contents with 6 bikes at specified values, £750!!
£35 back after 90 days due to motorbike insurance with them.
TheGingerOne - was your issue flooding? So have you just lied on your renewal about your locallity to flooding?
I wonder how they treat houseboats in flood risk areas. 🙂
We are in a recession, hence burglaries go up, so everyone is higher risk now and someone has to pay for it.
I blame Thatcher.
Halifax will insure bikes up to £10K per bike; as a specified item.
They are usually middle of the road on premium and service tends to be good.
Dickie, no I can't lie as the location is based on postcode and a flood map (as far as I know). I'm assuming they have either changed their underwriter (which I don't think they have as it was and looks like it is still Axa) or they have changed their criteria / the flood map upon which it is based has been updated to reflect the fact that my property is very unlikely to flood even though it is technically close to the river.
Edit: Just looked on [url= http://www.environment-agency.gov.uk/homeandleisure/37837.aspx ]http://www.environment-agency.gov.uk/homeandleisure/37837.aspx[/url] and I'm still just in the area marked as 'extent of extreme flood'.
My next door neighbour who is closer to the flood & my other flooded neighbour are with Halifax but Halifax won't insure me due to the flood risk - now changed under writer.
Another good one when getting quotes - I live in a barn conversion, the insurer wanted to know 10 years either way when the structure was built - the conversion was 1985 but they weren't interested, had to be the year the structure (barn) was built - no records exist so would not continue with quote.
I said 2000BC & he laughed, so I said prove it - then the call ended.
That is possibly because they are obliged to renew insurance, but not give new quotes. Your neighbours are possibly just renewing their insurance each year, thus are able to still use Halifax.
M&S decided I live in a flood area after they changed their underwriter to Axa .... I don't, but no amount of talking to them would sort it. They renewed my policy as an existing customer, and I only swallowed the steeper renewal (still high after dropping some aspects) cause of the bike cover. Looks like I will be properly on the hunt for something better come year end.
ps LOL at dickie 🙂
Ooo, good spot on Topcashback. My car insurance is due and Aviva are doing 20% off for new business plus £80 cashback. That'll be £40 less than this year. Yum. Goodbye (much)Morethan.
M&S isnt the be all and end all
I have £10K of bikes insured as named items with Halfax and the premium is only £90/yr (and thats in Oldham)
bland, how did you get the cycle cover onto Halifax? Their website only seems to offer £500 per cycle!
Phone them up and add them as named items with a value attached, simple.
Most insurers now use the [url= http://www.environment-agency.gov.uk/homeandleisure/37837.aspx ]Environment Agency Flood Maps[/url] to gauge whether to give cover or not. You can put your postcode in & check for yourself.
Even if you're on the extremes of a flood plain then some won't entertain cover as they believe flooding will only get worse due to climate change.