Hiscox insurance
Posted by: Consciousmess on 05 February 2009
Hi,
I had to write this post, as based on a previous forum thread, I have just got my Naim equipment insured by Hiscox. I understand several other Naimers do this, so I went ahead on that basis.
Obviously I am intending to speak to a customer advisor ASAP, but they aren't available right now. The question I have, and would be really grateful if any other user could advise me, is that the setting up of the policy was....
FAR TOO SMOOTH!
They didnt ask me any details about what my house is like, other than what type it is. They also did not ask about the retail prices of the items I want insured. They just asked for my bank details and address and essentially, that was it!!
Is this the same with you guys (the ones who use Hiscox)?? It just seems bizarre as I am now 'insured', and I haven't specified WHAT I've insured!!!
Again, I thank you in advance for any advice you can give!!
Jon
Posted on: 06 February 2009 by 555
That's how Hiscox works Jon.
Depending on where you live & the type/value of your contents,
Hiscox might ask more questions such as door/window lock types.
If they didn't ask it's because they don't consider you a high enough risk.
Just make sure you've accurately estimated the replacement cost of your contents,
& reconstruction costs if you've got buildings insurance with Hiscox too.
Posted on: 06 February 2009 by DaveBk
Jon,
Did you just insure the Naim stuff or go for a complete contents policy?
I can't get all my kit within my current policy limits with Halifax so need an alternative for just the Hifi. Thanks
Posted on: 06 February 2009 by Happy Listener
Check very carefully the policy requirements and exemptions re lockable windows (which you must keep locked when not in!), alarm contracts etc...
Plus item limits within contents - I also were quoted by Hiscox but stayed with Direct Line after some negotiation.
I think insurers realise that hi-fi isn't that risky, it's more like portable and 'liquid' gear like laptops etc, where the risks sit.
Unless of course, you site the hi-fi stack under the cold water tank in weather like this.
Posted on: 06 February 2009 by Consciousmess
Thanks for the feedback, guys.
I still havent managed to speak to a Customer Services member and still endeavour to do so, but you have put my mind more at rest!
DaveBk: As it happens, I have my Mortgage with Halifax and buildings and contents insurance - the hifi. Just taking that part off my cover substantially reduced our payments. I have to say that based on the Naim forum, others have gone to Hiscox, so I have followed them...
...I must add that I feel more secure now, as my equipment hasnt been insured since I bought it. NOW it is fully and for its original purchase price. I advise Hiscox for you too!!
John (555) thanks for your advice!
Happy Listener: thanks for your tips too!
Munch: great advice too, although I have already signed on the dotted line and clarifying in retrospect. Doh!
Regards,
Jon
Posted on: 06 February 2009 by Bob McC
quote:
and for its original purchase price
or its replacement price?
Posted on: 06 February 2009 by count.d
quote:
That's how Hiscox works Jon.
Yes, you pay a high premium for a carefree application.
Good to see Consciousmess is receiving top notch customer service.
Posted on: 06 February 2009 by 555
Posted on: 07 February 2009 by hungryhalibut
We've used Hiscox for a few years. We have something like £100k of contents cover (not that our contents are worth that much I must add!!) for less than direct line charged for a lot less. And no silly security restrictions. Direct Line wanted every unnoccupied upstairs window closed and locked at night which is simply stupid in the summer. Hiscox have no such requirements, and are really good to deal with. The customer satisfaction surveys rate then very highly, so I'd relax.
Nigel
Posted on: 07 February 2009 by count.d
I don't know where you get your library of pics from 555
Posted on: 07 February 2009 by 555
One of the few benefits of being a meeja whore count.d.
Posted on: 08 February 2009 by teabelly
Just did a quote with them and it was roughly half what my current insurer wanted. Only downside is the excess. Current one is only £50! Can only get the hiscox down to £250. Better cover and seems less hassle to be involved with them though so I may switch.
Posted on: 08 February 2009 by Consciousmess
I just had good advice about getting my system... 'verified'!
You see, I do not have the original receipts for all my items and so proving ownership could cause problems. However, I was advised to contact my local Naim dealer and ask them to come round (at a fee) and verify that I own my respective Naim components. I'll get them to take down the serial number and write on headed paper that these are the components I presently have.
This would give me the security in case the worst happens!!
Do you agree with this advice?
Regards,
Jon
Posted on: 08 February 2009 by scottyhammer
Jon,
I am also with Hiscox and found them all so laid back but rest assured they are excellent to deal with. the only drawback as mentioned is the excess of £250 which with the hi-fi is not an issue but we have entire contents cover and recently claimed on a laptop worth £400 which with a £250 excess made a huge dent.
I sent pictures of the hi-fi showing the serial numbers and boxes into Hiscox and they were happy to give me new for old replacement cover.
Good luck-hope this helps, Scotty.
Posted on: 08 February 2009 by 555
I didn't get ownership verification requested when I went with Hiscox.
I imagine being in physical position might do, so why not ask if they will accept photos?
I would also contact HQ for advice; did you register your equipment with Naim when you purchased it?
Posted on: 08 February 2009 by Consciousmess
quote:
Jon,
I am also with Hiscox and found them all so laid back but rest assured they are excellent to deal with. the only drawback as mentioned is the excess of £250 which with the hi-fi is not an issue but we have entire contents cover and recently claimed on a laptop worth £400 which with a £250 excess made a huge dent.
I sent pictures of the hi-fi showing the serial numbers and boxes into Hiscox and they were happy to give me new for old replacement cover.
Good luck-hope this helps, Scotty.
Posts: 2955 | Location: Hammerland | Registered: Tue 23 September 2003
Ignored post by scottyhammer posted Sun 08 February 2009 18:34 Show Post
555
Senior Member
Posted Sun 08 February 2009 19:03 Hide Post
I didn't get ownership verification requested when I went with Hiscox.
I imagine being in physical position might do, so why not ask if they will accept photos?
I would also contact HQ for advice; did you register your equipment with Naim when you purchased it?
That is all good information and advice, thank you!
Jon
Posted on: 08 February 2009 by Roy Donaldson
One other insurer I'd consider is Marks and Spencer.
I'd never have thought of them, but quite a few of my friends are now insured with them. £5k single item limit. Will insure high value contents. Good pricing.
Found them half the price of the nearest insurer with higher levels of cover.
Roy.
