Best Insurance price for my apartment

gio41uk



Joined: 19/08/2008
Posts: 45

Message Posted:
05/06/2009 12:49

hi

im looking to renew my insurance on my apartment, a 3 bedroom flat in upper kyrenia.



Can anyone tell me if this is the average for my flat



60.000 stg For a Rebuld of the place

8.000 stg for contents



And the cover: fire, theft, indoor plumbing, landslides, and smoke damage.

£85 stg yearly cost.



does this sound the average and if u dont claim is it suppose to go down or does that not happen here.



cheers

gio

Pogle


Joined: 28/08/2008
Posts: 1536

Message Posted:
05/06/2009 13:02

Sounds reasonable IF Earthquake is covered.



We pay approx £90 for a 3 bed, £35k/£5k with earthquake cover and they do pay out.



I would make sure you are not over insuring for the re-build cost, as the insurers would only pay out on the Per square meter cost whatever you had insured it for. The re-build cost was £450 per square meter, not sure what it is now. Ideally, your neighbours should have insurance, as in the event of a total loss that cannot re-build only X apartment.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
05/06/2009 14:18

doesn't sound like much cover for £85 quid - do what most folk do - don't bother !

gio41uk



Joined: 19/08/2008
Posts: 45

Message Posted:
06/06/2009 11:50

dont think it does cover earthquake. £60,000 was what it cost to buy it so i think im wrong there then.Its an apartment block with 5 (2-2-1) the average building. god knows what my neighbours have i dont see them.



negativenick thats a wee bit negative (no insurance)lol.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
06/06/2009 12:02

the insurance policies here have more holes in them than swiss cheese.....