Property Insurance Excess

[tamborine]

My property insurance excess is now £2k; this makes claims almost prohibitive or inflate repair costs.

What is your excess ?

[hc4361]

£250

Have you made any claims recently? Do you live in a risky area?

[tamborine]

Plate glass for patio door had a chip that spread due to temperature changes or maybe tight fit. The excess was £200 & repairs cost £250. Its the second claim in 10years.

[hc4361]

Good grief - find another insurer if you can.

[soapnumpty]

That sounds an awful lot. Is it the same for all perils, ie flood, theft, fire, accidental damage etc? Usually it would be around £100-£250 for those perils, increasing to £1000-£2500 for subsidence. If you are unsure why, ring them and ask them. If your renewal is due soon then shop around.

[tamborine]

As it is I underinsured my house to basic 2b instead of its present period property. If it was lost to fire I would apply for multiple development rather than a rebuild.

Will take your advice HC.

[tamborine]

It says excess £2k excess & I presume thats for anything, Soapy. I was burgled years ago but never claimed as the loss was minimal. If the tractor is stolen, am up the creek ;)

[twix123]

Speak to a local insurance broker and get them to research and negotiate with the market on your behalf.

If you're under-insured, any claims will only be paid in proportion to the value of the loss! If this is a period or a listed property, you would probably be required to re-instate to the original specifications and any application for a multiple development could be refused by the planning authorities.

[hc4361]

Do you mean buildings or contents insurance, or both?