Home Insurance ?

Yes - I now use Hiscox on the advice of my original insurer who couldn't insure my Linn/Naim system. Hiscox did it as part of their standard contents insurance - the premium was related to the total value of my house contents including my system. So far very happy with their service. Another forum member recommended them to me as well.  

If, for example, my 282 was stolen they'd replace it with another 282 or equivalent model from Naim should they supersede the model. 

Cheers Guido,

          will wait to see if any further replies but will now google for contact details.

samtheman

Insurance is a poverty trap, where those least able to afford it are effectively "forced" to insure things as they, by definition, cannot cope with the financial implications of loss. A wealthy person, despite the high value of the goods does not need to insure their posessions. They can easily afford to replace them.

Insuring luxury items like Hi Fi is illogical, the odds are not in your favour. Put the money aside and buy yourself something nice.

I have never insured anything beside a motor car as required by law against third party liabilities. I do intend to insure myself against injury and third party risks on the bike. More self preservation than anything else, as my own ability to work is more than I can afford to loose ...

The real secret is to avoid buying anything that you cannot afford too replace if it is lost through theft or fire and so on.

This guarantees that there is nothing worth stealing in my house!

ATB from George

We insure through Direct Line. When we purchased an artwork of significant value they arranged a free security assessment of our home, in light of that the original quote fell substantially and we stayed with them as an insurer. Maybe it is worth seeing if they suggest that?

One other thing about Direct Line; some years ago we had a very substantial and complex legal claim due to damage to our property from a third party. Absolutely could not fault their prompt and efficient handling of that claim. Another reason we have stayed with them.

Bruce

I have a similar concern about insuring my Naim system. We currently insure with the Coop and I had difficulty getting them to understand that a HiFi system was not a box you bought in Argos. That a single component like a 552 would cost around £15K to replace was not appreciated. And none of the staff I talked to knew what a cartridge was, let alone that they can cost £1-3K.

So when we renew shortly it will be with Hiscox who seem to be experienced in insuring high end audio kit. The only downside is that they have a mandatory £500 excess.

Mike

Another vote for Hiscox.

I had similar issues with my now previous insurer.

Changed to Legal and General who, whilst not being the cheapest provider, provided adequate cover without any issue.

Sam

I alternate between Direct Line and Churchill, I change every year and get a 30% discount as a new customer.

I asked one of them if my CDS2, which cost me £1400 was insured on my current policy. They advised the following.

They would reimburse the price I paid, as long my insurance covered items up to that amount and I had proof of purchase. It didn't cost me any extra, but I think I had to give them details of item/value.

Items purchased at the same time are valued as one item. Items purchased separately are value individually.   If you purchased your 282 / 200 / Hi cap at the same time you may be above your limit, or below if purchased separately.

Give Direct Line a ring.

Thanks again to the forum members,

          plan to get an online quote from Hiscox and will then shop around for a comparison.

If you want to check altenatives - ask for a quote from Greenbee (now John Lewis) insurance. No problem with high value HiFi.

I am with Hiscox. I have done the research and they are the best by far. My kit is too valueable to entrust with anyone else.

I've used Hiscox in the past and they are good. Currently with L&G through the Halifax, who handled all the predictable stuff with the underwriters very nicely....

Probably just about to change to Hiscox (got a quote). I rang them to ask about the value of individual hifi items and was told that as long as the amount that the home contents were covered for (£63000 on my quote) covered the value of the hifi then it was fine. There only seemed to be an issue for jewelry, watches, artworks and guns over £15000 that would need listed separately.

I'm with DL and last time they matched a quote from Hiscox and I'm just about to play the game again.

DL did understand the facets of insuring the hi-fi (> 120kgs exc speakers and numerous items - and the individual item limit restrictions don't play as the items aren't designated valuables) albeit I find it's always best to revisit their cover levels and definitions very closely, as these can change. Overall the 'new for old' value of a large CD/vinyl collection can be immense - and the usual insurers trick is to mark down any claim ('average down' I think it's called) if the cover level held is materially < new value. Naim's list prices work against us here!

My main worry is the damage to the kit if someone were to try and lift it off a Fraim etc.

Many years ago, I read of a burglary where to get out of a window, the burglars moved a 40kg amp to use as a stepping block - this item being the most valuable! All the hi-fi got left behind - they went after the plasma and some CD's/small items.

Reccomendation - do take some pictures of the house internals and store them somewhere safe. These can be invaluable if there is ever a claim/dispute with an insuranceco.

I am with Hiscox.  I tried to obtain a quote from Direct Line and was referred to their special division (whatever that might be).  Major sticking point was that DL required the installation of a maintained burglar alarm.  This is no doubt  a function of the area in which I live.  I have remained with Hiscox.

Peter

I have been with Hiscox for 3 years and have just had cause to use their claims service. One of my Focal JM.Lab Micro Utopia Be speakers was accidently knocked off its' stand. The cabinet and front fascia paint finish were damaged and not repairable. The speakers or the cabinets themselves are no longer available. Hiscox have now supplied me with a nice shiny black gloss pair of Diablo Utopias, the considerably more expensive direct replacement - result!!   By the way, they are quite stunning and a massive improvement on the not too shabby old model.

Mark

This a classic insurance company risk reduction strategy. The burglar alarm does approximately nothing to reduce the chances of your gear being nicked, but does increase the chance that the insurance company won't have to pay the claim (because you forgot to turn it on, because it wasn't installed to specification, or because it was somehow "faulty" etc).

No! Wouldn't happen!

If you're of a certain age then Saga are ace. Great customer service, very very good coverage and they don't give a whatsit if your alarm system is switched on or not.

....but they wouldn't cover our items with individual values above £1500.

Which is the problem with a lot of companies.

Has anyone ever had to claim with John Lewis, Hiscox or others?

The John Lewis quote is by far the most competitive so far.

F.A.O.  R. Dane

Richard,

                 There's a similar thread running on the HiFi corner forum.

Don't know the appropriate section but shouldn't they be merged.

Regards,

                  Graham

Graham,

this thread is an old one, whereas the the one over in Hifi Corner is current.  Best close this one and recommend that Michael ask on the other thread;

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