Insurance

[Christel]

Posted by Rob128


Newmoon quote...

"...insure £10,000 of shot guns and rifles with £3,000 of scopes."

Annual premium for all risks cover is £219.10 including insurance premium tax.

No excess.

Like for like Home and Contents appears to be around £200 from the comparison websites.

Going back to Barclays to see why so high.

Removing gun cover from Barclays only reduces their premium to £555.

Looks like I can do the lot for about £420.... a saving pa of £260.

Thank you BASC.,, and Andrew Weir at Newmoon.

Rob

[Christel]

Every year I check for a cheaper quote. Always pays off.

That is quite a good saving you got there.

[Robin128]

I've been all over it today...gonna check the fine print tomorrow. The savings appear to be material.

:)

Rob

[Christel]

Because Ovenpaa is over 50 he gets the insurance cheaper. Saga and Axa are good at that.
Also always ask if the quote you got from your insurance is the best they can do and don't forget to tell them you can get it cheaper elsewhere, do they want to match?

Saga renewal this year for the car was £213, I checked and I checked elsewhere and couldn't find it cheaper, first time ever I have renewed with the same company two years running.
We drive a big old 4x4 so I have to admit it was a good price.

Don't trust the price comparison sites either, always call the insurance company directly. I have always got it cheaper calling them directly.

[Polchraine]

I have around £7k of guns insured with NewMoon - £90 last January. No issues with them, great service, speedily done by phone and email. Most household companies are starting to say no - they just don't seem to realise that gun owners take more care over general security for doors and windows, the guns are always secured away - how many women lock their expensive jewellery away?, and number of alarmed premises is probably much greater than the general population.

[Sim G]

Lloyds cover mine "all risks", including accidental, as part of my contents cover for no additional premium.

[Robin128]

I went on line with Barclays and got same home and contents cover for £266.

I set up guns cover with Newmoon for £219.

I rang my old insurer...yes Barclays who said hold on a minute. They went thru new proposal meticulously. They offered same cover as before (ie wider than online quote) less gun cover but with home emergency for £275. I took it and cancelled earlier online deal.

Renewal quote of old policy.......................£683.

Revised Home and Contents....£275
Gun cover from Newmoon.......£219...£494

I just saved £189 for more cover.



All down to BASC and a bit of cheek.

Rob

[targetman]

Just as a general view on insurance premiums, you can expect all premium rates to rising over the next few years.

The thing to understand is that insurance companies make little money of underwriting. Cheap insurance rates are/were used by insurers to to generate premium income. This income was invested and profits made on that investment. With investment returns being so low and likely to stay that way the only other means of turning a profit is to increase premiums.

Simple economics...

[Christel]

Yes I agree with that which is also why I renewed this year, for the first time ever, I did try a few places that I knew would have been cheaper a few years ago but not this year. Renewal was the cheapest I could find.

[Robin128]

On insurance it's market forces...there is a lot of competition...comparison websites, brokers and the main insurance companies.

Barclays would not budge on two occasions asking them why they were charging me so much when the last time I claimed was over 22 years ago when my roof in a previous house went. They would only start negotiating when I had already got new cover arranged online for the same cover for much less. I got the tip to go online from their own call centre that dealt with my current policy.

Barclays told me I reported a theft in 2007...WTF are you taliking about? He looked into it and it came down to a credit card fraud that had nothing to do with me. I reported it to them. Credit card co didn't argue, given that when they rang me I was in the Tesco car park in my local town when the fraudster was trying to by an air ticket in Europe. Never pay by debit card. If that number gets around your account can be emptied and bank will not cover loss like they do with credit cards.

I arranged the same time to get cover from Newmoon for my guns.

The Barclays negotiator went back to his underwriters and got £408 written off my renewal. I got better cover than online, to include emergency call out also.

Apart from the gun cover all the rest of the terms, including excesses were same or better.

I think insurance companies are taking the p1ss.

Rob