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Hi all
A recent purchase has taken my total for watches / jewellery just above £20k and my current home insurer has now told me that I will need to get a fixed safe, which I would prefer not to do at the moment.
Is this pretty standard across insurers or is it worth me shopping around for an Ins. Co that has a less conservative approach? Any recommendations?
Thanks all
Roy
Shop around, £20k shouldn’t trigger a safe requirement - for context that safe being installed will likely cost £750+ for purchase and fitting
Just shop around, that limit shouldn’t be an issue
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I had to shift to marks and Spencers home cover in the summer because my current insurer were changing terms.
Iirc marks covered individual items up to £15k without being specified and a total of around £50k+ as standard.
I had to pay about £100 more per year than the previous insurer, but I got a £40 national garden centre voucher and I now had adequate cover.
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Not sure if standard across the board, but certainly is the same with Esure (who I’m with) I made arrangements to take out a safe deposit box in a bank, but was told they wouldn’t insure for this, so ended up getting a rated safe. Cost me around £250 and took about 1/2 hour to fit to both the floor and wall (it helps I’ve got all required tools to do the job)Quote:
Originally Posted by therooster
Aviva
Martyn
Another recommendation for M&S. As above individual items up to £15k, with a total of £50k for value for valuables and no requirement for a safe.Quote:
Originally Posted by stefmcd
I can also vouch for M&S insurance. My brother also moved to them on my recommendation. They were excellent for him when he unfortunately had to make a (non watch related) claim.
Thanks for sharing M&S home insurance guys, mine is just coming up for renewal and with the appreciation of some of my pieces I will most certainly be over the 20k limit too.
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I’m with them. Wouldn’t recommend if you ever need to claim.Quote:
Originally Posted by MartynJC (UK)
I’ll not be renewing.
Same here, expensive, argue the toss over everything. My father actually worked for Commercial Union which eventually ended up in Aviva and got decent service and discount because he was ex-staff but as soon as he left us and it was my mother only they bumped premiums and argued over every little thing. We took her elsewhere.Quote:
Originally Posted by Montello
I'm moving to M&S next renewal as similarly, our jewelry/watch total is getting high and by the time you've added most insurers additional charges and the need to specify items M&S are actually good value.
I’m pretty sure M&S home insurance is provided by Aviva?
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The flip side of watch hyper inflation …
Just checked and you are correct........ "M&S Home Insurance is underwritten and administered by Aviva Insurance Limited"Quote:
Originally Posted by peterdo
I’m moving next month so needed to insure the new house and transfer over existing policy.
I thought I might as well revalue the collection at the same time so looking at recent Rolex prices I gave existing average values. LV have now stipulated I need a burglar alarm.
I’ve got 28 days from when we move in. Bugger.
When I renew I will leave the awful Aviva I’m going back to the NFU. Which will be this March.
Try Halifax, they were best for me. Pretty sure it covers £25k away from home
Can anyone recommend and providers for high value single pieces? I currently have my blue overseas on my house insurance as a named item for 20k and also insured out of the house, but obviously with the recent price movements 20k now represents less than 50% of market value going by chrono24 prices
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Thanks guys, this is very helpful. I am currently with eSure but sounds like M&S or Halifax will be the way to go. I'll do some research.
We’re currently with Esure as well and after my last watch purchase they also stipulated that I would need install a safe. I bought the correct rated one for £250 and installed it myself in less than half an hour. It does give price of mind but I’ll be looking to move when it comes round to renewal time.
I’ll take a look at M&S as well.
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I'm in a similar position, so let us know how you get on with the research - that would be v. helpful.Quote:
Originally Posted by therooster
I have looked at getting a safe on and off. I thought the insurance approved safe had to be fitted by an 'insurance approved' installer to qualify. I would prefer to fit it myself.Quote:
Originally Posted by Andyp1973
What did your insurance company say?
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This happened to me 15 years ago with NFU, I bit the bullet and had a safe fitted. I then moved house, left the old safe behind and had a larger one with higher rating installed in the new place. It was back in 2013 but recall it cost in the region of £450 inc delivery and fitting from a safe manufacturer in Birmingham. Its not only used for watches and jewelry but important paperwork due to the fire rating. Im still with NFU by the way, never had a problem when ive claimed and its a very personal service, not the cheapest but good stuff usually isnt in my experience.
Keith
They just said to me that it must have the correct cash rating to what will go in it and must be secured to the floor or a supporting wall. Nothing about it being professional fitted.Quote:
Originally Posted by noidea
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Ah ok thanks for the reply, I think I will contact them to ask for clarification.Quote:
Originally Posted by Andyp1973
I can't see why they would insist on professional installation.
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When I was insured by LV, condition was that it was fitted by an approved installer, each will have their own requirements, worth checking
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If not installed correctly, they can just be ripped out of the wall quite easily. I don't know what your experience is and can only share mine.Quote:
Originally Posted by noidea
It all depends upon the type of safe and what surface it's being mounted to. For instance, the wall mounted ones are usually installed with a long through bolt that goes into an outside wall. The hole has to be drilled to the correct diameter and the debris removed. This works well on house bricks, but with other materials, such as breeze blocks or stone, you don't get as clean a hole or as good friction so may need to expoxy the bolt in, or choose a different location.
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I would be installing it on a concrete floor and drilling directly into that.Quote:
Originally Posted by AKM
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GrovesJohnWestrup might be worth a look.Quote:
Originally Posted by wuyangkid
They now insure my collection at about 75% of the premium I was paying.
Quote:
Originally Posted by noidea
Quote:
Originally Posted by peterdo
Yep I’d recommend professional installation wether you’re insurers demand it or not.
That would seem to be ideal.Quote:
Originally Posted by noidea
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I had it installed professionally, had to drill into stone wall, but have to fit completely flush to wall and floor so need to cut skirting and remove carpet, cannot allow any leverage point at all.
The safe is usually to complement an alarm I.e. if you’re broken into and the audible alarm goes off, the time it will take to open or remove the safe will be while all of that racket is happening
Also worth speaking to the insurer, as if you gave a monitored alarm, they will increase the rating on the safe, for example if you have a £20k rated safe, they may give you an insurance rating of £100k if you have extra mitigants for theft
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I went with M&S - higher coverage both overall and for individual items, with materially the same premium.
I recommend John Lewis specialist home insurance.
Provided by covea.
This is definitely something I need to look into.
I don't have any one piece that is high value, but collectively, there's a fair bit tied up in them.
My renewal was up this month so went with M&S thanks to the recommendations. Very helpful on the phone and hopefully never need to call upon them.
Try Direct Line Select / Premier…
I tried Direct Line today. The quote made my eyes water.Quote:
Originally Posted by l6sev
In fact, whenever I've tried DL for car or home insurance, they've been consistently a good few hundred quid more than anyone else. I wonder how they get any custom?