Hiscox insurance renewals.

Posted by: dave marshall on 31 March 2016

Hi,

I know that quite a few forum members have their home contents cover with Hiscox, largely because they treat our hi fi systems as being composed of individual items, rather than an overall figure.

I recently received my renewal invitation, and noticed that the single item limit of £15,000 was now worded "any single item, any pair of items or set of items".

I've spoken with them, and they've confirmed that their interpretation of things remains, as before, insofar as, that,  if the items are available for purchase separately, then they are regarded as individual items, rather than as a set of items, as above.

Just hoping to prevent other forum members wasting time on the net seeking alternative quotes. 

Dave.

Posted on: 31 March 2016 by MDS

I moved to Hiscox last year and had a very helpful chat with the agent when I explained the nature and value of my system.  He gave me the same explanation: each unit would be viewed separately if you could buy it separately and the value limit of £15k would be applied to each, not in aggregate to the system. The premium was competitive too so Just what I was looking for.

Mike   

Posted on: 31 March 2016 by dave marshall

Hi MDS,

Yes, it was just that phrase in my renewal details which prompted me to contact them.

So, kudos to Hiscox, and I must try to be less suspicious of what might at first seem to be a major change to the cover on offer.

Mind you, we're all generally all very happy with our insurance cover until the time comes to submit a claim, (and I do talk from previous experience).

Dave. 

Posted on: 31 March 2016 by Harry

Speaking to Aviva won't be a waste of time. They don't impose an upper limit on a HiFi item so unlike Hiscox, will cover something like a 552 fully. As long as the total for the contents is set sufficiently high. So far they are the only insurer I have spoken to who say they will cover an item of any value. 

Posted on: 31 March 2016 by blythe

Chubb Insurance also cover unlimited value of items, subject to conditions of course (alarm etc.)

Posted on: 01 April 2016 by Harry

That is well worth knowing. Thank you.

Posted on: 01 April 2016 by Graham Clarke

Doesn't the 15K limit only apply to items that haven't been specifically noted?  They didn't bat an eyelid at the suggestion of a 57K preamp, they just explicitly listed it on my policy.

Posted on: 02 April 2016 by Southweststokie

John Lewis £15k limit is only for valuable items e.g. Jewellery, works of art. HiFi is not classed as a 'valuable item' and as such is covered and each separate box is just that, or so they advise me! As said previously one can never be completely sure one is covered until a claim needs to be made.

Posted on: 02 April 2016 by Harry
Graham Clarke posted:

Doesn't the 15K limit only apply to items that haven't been specifically noted?  They didn't bat an eyelid at the suggestion of a 57K preamp, they just explicitly listed it on my policy.

Again,  extremely useful. Thanks for the clarification Graham.

In a situation where you are not sure if an item is actually covered until a claim is made I would advise finding another insurer as a matter of priority. If something isn't insured then what are you paying for?

Posted on: 02 April 2016 by rjstaines

I'm with Hiscox and have listed my 552, 500 and LP12 Klimax with their replacement values with them.   (Note to self: better check the new Naim price list for 2016.)

Does anyone know when the Scottish company publishes their price list for this year ?

Roger 

Posted on: 02 April 2016 by impy

I'm with Aviva and there is no upper limit on Hifi, as it is not considered a valuable as Southweststokie said.

I contact them every year and they are not concerned about separate items being listed, as long as your total contents insured is sufficient to cover your hifi plus ll other contents.

Trev