CGU plc (CGNU)

...have!!) these are my results; CGU saved me £109.37!! I used to pay £300 and shopping around got me this highly competitive quote from CGU and now I pay only £191!! I have been with CGU before, so I know I can rely on them in the event of a claim.

Getting the quote was simple, I used the freephone (0800) telephone number so it didn’t cost me anything to get the quote. I requested them to send me the quote so I could study it. ...
...pay monthly, not annually (as CGU don’t charge you more for paying extra, as some insurance companies do)

About this time in November just to the build up to Christmas I was burgled! No forms to fill, just a simple telephone call. The claim was settled easily, items replaced (electrical, audio, camera etc), non-replaceable items were paid for, and damage repaired.

OTHER TIPS IN EVENT OF A CLAIM:

... more

I used to pay about £300 for my household insurance which was a lot, so I decided to shop around and to my amazement I ended up saving over £100 by taking out a combined buildings and contents policy with CGU, who are a large and well trusted name in the world of insurance!!

Before I tell you about the service offered by CGU, I think it is of paramount importance to understand how to get the best quote. The names and terms insurance companies use can be very confusing and each company has its own definition.

So Household Insurance, …do you want buildings only, building and contents, voluntary excess, no excess, extra accidental damage, legal expenses, single item/high risk items cover, away from home cover etc etc.. the list is endless…

I think it is very important to bear a few things in mind before getting quotes: so that you only get quoted for what you need NOT what the insurance company wants you to have!!!

Here are a few simple guidelines I feel will help: (before you pick that phone up!!)

Connoisseur_haggler's TOP 10 TIPS:-

1) first decide what level of cover you need
2) how much are your contents really worth (£20,000,£30,000?)
3)do you have any high risk items you want to specify separately
4) do you travel a lot, if so you may want to consider "away from home" or worldwide cover
5) do you want standard accidental damage or “extended accidental damage” ?
6) do you want your outbuildings covered (i.e. shed, greenhouse etc)
7) do you have any bicycles (if not, don’t pay extra for this cover)
8) do you have any security devices fitted (alarm, 5-lever mortice lock, window locks, is your area part of neighbour hood watch)
9) do you want legal cover? (If so how much; £50,000,£100,000)
10) ALWAYS ask for the Policy or Schedule booklet (so you can read the small print)

Once you have decided what you need and what you don’t need the task should be very straightforward (I say…!! But don’t hold me to that!!!)

I will take my personal example for illustration purposes, I have saved at least £100 on my household insurance by taking out a combined buildings and contents policy with CGU. My previous household insurance was just under £300 which was a lot, so I decided to shop around.
I suggest getting at least 8 quotes from different insurance companies.

CONTENTS COVER:

Firstly try to establish the insurance companies definition of what is included in “contents cover”. Some companies include things like TV’s , Hi-Fi’s, coffee tables, sofas, furniture, carpets, fridges, freezers, washing machines, even computers etc. Other companies leave things like computers and Hi-fi’s as your “valuables” list. If all the items are included under “contents”, you may need to make an allowance for this, and add an extra £5000 for example onto your contents cover. If the company has a separate quota for valuables then a lower level of “contents cover” should be sufficient.

Say, for example you calculate the cost of your contents as only £10,000 then I would still think it wise to take out a minimum of £20,000 worth of contents cover (as this appears to be the minimum amount of cover insurance companies start with). There is no point paying more to have say £80,000 contents cover when in reality your contents are worth no more than say £20,000. This is simply wasted in unnecessary cover which you don’t actually need and you are overpaying in premium s for this unnecessary amount.

Insurance companies will often say, oh, but we have negotiated a special deal with X, Y, Z and we offer a cover of £80,000. So what? When in reality your contents are only worth up to £30,000.Find out if the policy is replacement for “new for old” or simply on a “wear and tear” basis replacement based on how long you’ve had the item.

ADDITIONAL COVER:

Many companies include additional cover such as; bicycle cover, outdoor buildings cover, freezer contents which is all fine, but if you don’t have any of these you may be paying for things you don’t require. For example, I don’t have a bicycle, so I removed the additional bicycle covered they added which lowered my premium further. Do you really need £500 of freezer contents cover? When in reality £250 will do..? These are all "hidden extras" which they add on, always assuming we do not notice. By all means take out as comprehensive cover as possible for your needs, but don’t make the mistake of paying for cover for items/products you don’t have!!

ACCIDENTAL COVER:

It is worthwhile to note that nearly all insurance companies include a standard level of accidental damage cover. e.g., glass in coffee table, mirrors etc but if you want “extended accidental damage” which will include things like dropping a china plate etc then you will have to add on “extended accidental damage”, which will definitely bump the premium up!! If you have small children though its worth considering, though it is pricey!!

WORLDWIDE COVER: or "away from home"

One additional cover I did add was "away from home" which is extremely useful if the many items you have in your house you take with you on your travels, e.g. camera, camcorder and so on. Please bear in mind if you already have a personal “travel insurance”, then this may not be needed and again it will be an unnecessary addition.

CGU....
Now that you know what to ask when you ring up for a quote, (not what they - the insurance company want you to have!!) these are my results; CGU saved me £109.37!! I used to pay £300 and shopping around got me this highly competitive quote from CGU and now I pay only £191!! I have been with CGU before, so I know I can rely on them in the event of a claim.

Getting the quote was simple, I used the freephone (0800) telephone number so it didn’t cost me anything to get the quote. I requested them to send me the quote so I could study it. After being satisfied that I had insured myself adequately, I rang up and accepted this quote. The excess charged on this policy was a standard £50. Within 2 days my direct debit forms arrived as I decided to pay monthly, not annually (as CGU don’t charge you more for paying extra, as some insurance companies do)

About this time in November just to the build up to Christmas I was burgled! No forms to fill, just a simple telephone call. The claim was settled easily, items replaced (electrical, audio, camera etc), non-replaceable items were paid for, and damage repaired.

OTHER TIPS IN EVENT OF A CLAIM:

Try and keep your receipts for expensive items as this will help may the claims process more easier. If you do not have receipts say for more rare unusual items i.e. gifts etc, take photographs of them such as ornaments, even things like jewellery, with you wearing them, this is all proof that you owned these items.And remember you don’t always have to use their set of repairer for damage, though it will be less hassle for you. If you know of a reputable firm that is registered with the relevant professional bodies (i.e. building, plumbing etc) then you may be able to use your own, subject to approval from CGU.

Another point to bear in mind many companies charge interest if you wish to pay monthly, but with CGU it doesn’t cost me a penny extra to pay monthly by direct debit!! Plus they will pay you upto £25 towards cancellation charges from your previous insurer (Can't be bad!!) So I SAVED £109.37 plus got a cheque from CGU for £25 towards cancellation charges which my previous insurer charged me for cancelling, PLUS I got an additional £20 off my car insurance as its with CGU as well!!

So shopping around for the most suitable insurance policy for "your" needs can save you both money and often give you a more comprehensive cover designed especially for you!! Many factors will come into the final amount you are quoted, such as where you live, are you in a high risk area of flooding!!!!, how many claims you have made, do you have extra security features etc etc. CGU worked out best for me..it may not for you so take my advice decide what "you" what and follow these simple tips.

Its sad but so often very true in the build up to Christmas the number of household burglaries increase. So make sure you are covered!! This is the time to make sure you are covered adequately for all your needs and save money for unnecessary cover. Many of our insurance premiums will no doubt be rising again due to the £0.5 billion flooding bill claims. So act now, make sure you are covered, save money and protect yourself!! If you can eliminate the extra unnecessary cover you may be paying for and maybe increase or decrease cover in some areas, then all in all I guarantee you should be able to SAVE money!!! If you follow these few tips before you ring up for quotes you should definitely be able to save money and at the same time get the cover that is right for you.

So folks, make sure YOU are Covered, have a happy, safe and secure Christmas and 2001,2002 onwards!!

Since writing this CGNU have merged with Norwich Union, whilst my existing policy has NOT changed, you may find new policies may have slightly different clauses and rules under Norwich Union, i.e if you pay monthly you may be charged 4-8% interest, please do check at the time.
 

...less