Specialist Insurance

[Scorps]

Hi folks house insurance due in next month or so. So was wondering if anyone used a specialist hifi insurance company or has any feedback on a good one.

[WullieD20]

Hiscox..... Quite expensive, but good reputation for 'no quibble' claims.

I've got building and contents (all risks - new for old) and had no trouble claiming once after destroying my Dynavector cantilever. Had to pay for a rebuild at >£4k..!!
Hiscox do not require any single component specified if the value is under £10k. So if you have some expensive gear they can be recommended.

[hifinutt]

Hiscox has run into a lot of flack recently !!!

Businessman Simon Ager says his company, the Pinnacle Climbing Centre in Northampton, is at risk of being bankrupted because his insurer is refusing to cover losses as a result of the coronavirus lockdown.

He is one of a number of business owners who have said they might take legal action against insurers Hiscox, which has said it will not pay business interruption claims resulting from the outbreak.

Mr Ager's policy covers the climbing centre for losses of up to £100,000 if it is forced to close in certain circumstances, although he says the lockdown is likely to cost him more than that.

https://www.bbc.co.uk/news/business-52280012

[Pete The Cat]

Hiscox has consistently had the best reputation for household insurance involving collections.

Most property insurance companies, not just Hiscox, are currently waiting for the outcome of a test case brought by the FCA on whether pandemic closure of businesses is/isn't covered. Same in the US and elsewhere since it's a potential "wipeout" event for them. Your average household insurance claim is very unlikely to hit that sort of obstacle.

[Barry]

I use John Lewis for both contents (unlimited cover and no single item limit) and 'bricks and mortar' insurance.

[Lawrence001]

Actually I need to think about single item limit since I got my Amphions. What's the chance of some burglars nicking massive heavy speakers though?

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[chrisph]

Actually I need to think about single item limit since I got my Amphions. What's the chance of some burglars nicking massive heavy speakers though?

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Lawrence, probably very safe as if I recall from the sales thread they are large beasts. :)

OP - sorry but no knowledge on hi-fi insurance specialists but your post has made me think I had better check whether I am sufficiently covered as I have made a few costly upgrades in the last 12months.

[hifinutt]

I use John Lewis for both contents (unlimited cover and no single item limit) and 'bricks and mortar' insurance.

I use aviva , no limit on hi fi items as far as i know . last time i had a quote it was about 9 times cheaper than hiscox

[WullieD20]

I use aviva , no limit on hi fi items as far as i know . last time i had a quote it was about 9 times cheaper than hiscox

Aviva small print: "Limits do apply for certain parts of cover, such as single item limits for valuables or personal belongings".

I haven't managed to confirm a figure yet, but a few others, (Halifax, Direct Line, Bank of Scotland etc) all quote a maximum of £10k per single item!

[doodoos]

Agree with hifinutt. Hiscox is in the hands of bean counters now and I wouldn’t use them again.

[Pharos]

OK, my burst of cynicism; the aim of an insurance company is to provide a contract under which no claims can be made.

I pay about £100 per annum for both home and contents, and it covers my expensive Hi-Fi which, because of their definitions does not come under their's of valuables.

[WullieD20]

I pay about £100 per annum for both home and contents, and it covers my expensive Hi-Fi which, because of their definitions does not come under their's of valuables.

So, if I'm reading this right, in the event of a 'total loss' situation (fire) you'd have your house rebuilt and your contents (including your expensive hi-fi of course) completely replaced throughout (New for old?), all for an annual premium of £100 per annum?
I need the name of your insurers please. . . . .:D