Policy benefits
You can rely on a Hiscox home insurance policy to ensure that everything you value is
protected. The quality of service and breadth of cover is everything you'd expect from Hiscox,
the UK's leading insurer of higher value homes.
Because we are selective about who we insure, we are able to pass on the benefit of lower
claims costs to you through broader cover at excellent value. Detailed below is a general
comparison of the Hiscox policy against a typical, run-of-the-mill home insurance policy.
The advantages of having a Hiscox policy are self-evident.
If you have any specific queries please contact us by telephone (0845 330 4105)
or email
(contactus@hiscox.com) and we promise to give you
a comprehensive & prompt answer.
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Features
Benefits of a Hiscox policy
Standard insurance policy
Your buildings - what are you covered against?
Standard cover (against storm, flood, fire etc) but also automatically includes accidental
damage (eg. spilling paint on wooden floors).
Standard cover only (against storm, flood, fire etc). Accidental damage available in return
for extra premium.
Your contents and possessions - what are you covered against?
Standard cover (against theft, storm, fire etc) but also automatically includes accidental loss and damage inside and outside the home (anywhere in the world).
Standard cover (only against theft, storm, fire etc). Usually need to pay extra for limited
amount of accidental loss and damage cover.
Cover outside your home
Your possessions are covered wherever they are, anywhere in the world as standard (eg. whilst
on holiday, during a house move or simply whilst on a day out).
Standard cover often restricted to the home only. Usually have to pay extra for cover for personal possessions away from the home.
Policy conditions
Relatively minimal & designed not to hamper your lifestyle (for example, if we require a
burglar alarm we will usually not insist that it is put into operation each time you leave
the property - this is left to your sensible discretion).
A range of restrictive conditions will often apply (in the burglar alarm example, insurers often
insist that the alarm is set each time you leave the property - even if you are just popping out
to collect your Sunday paper).
Individual items exceeding £1,500
In most instances, there is no need to list any item or provide valuations. All we need to know is the overall contents sum insured and the overall sum within that for valuables. NB. Proof of ownership and value may be required at time of claim. Full cover given outside the home.
Usually need to list individual items exceeding £1,500 in value and provide valuations when applying, otherwise cover is limited. Extra premium is charged.
Fine Art and Antiques
Covered under general contents with no need to list individual items.
Usually need to list high-value items separately to ensure they are properly covered.
Claims philosophy
When you have a claim we deal with it quickly, fairly and flexibly with no need to fill in a
form. We fast track smaller claims. Emergency 24 hour service for complete peace of mind.
Often an inflexible and drawn out process.
Basis of claims settlement
New-for-old (meaning that any item damaged beyond repair is replaced as new).
New-for-old but often with a deduction for wear and tear on items like clothing and pedal cycles.
24 hour Home Emergency cover
Included with all policies as standard (emergency repairs up to £500).
Many insurers offer this at an extra cost (sometimes up to £84 per year)**
*This table is illustrative only and should be read in conjunction with the full terms &
conditions of a Hiscox policy. As you move through the Hiscox quotation process we
will highlight any terms and conditions which are specific to your own unique circumstances.
The 'Standard Insurance Policy' column above is a genuine attempt to reflect the cover provided by
most household insurance policies today. We suggest that you check your own policy for a
specific comparison.
**Information sourced from Datamonitor Home Emergency Report June 2006.
Category
Hiscox cover
Typical cover offered by standard insurance policy*
Moving house
Fully covered during move.
Usually excluded or cover restricted.
Garden furniture, ornaments, statues etc
Typically covered to £500.
Theft of contents of outbuildings
Typically covered to £2,000.
Students away from home
Included as standard offering up to £2,500 of cover per student.
Bicycles
Covered to £1,000 per bicycle.
Typically covered to £500 (you may have to pay extra for cover away from the home).
Money
Typically covered to £500.
Credit cards
Typically covered to £500.
Lost keys (replacement of locks)
Many policies do not provide this cover. If covered, a limit of £500 usually applies.
Frozen food
Unlimited (with no excess to pay).
Typically covered to £500.
Possessions in unattended motor vehicle
Usually excluded or low limit.
Loss of value
Included as standard. This is particularly relevant if you own fine art or antiques, where the market value of an item may reduce following repair of the item after damage. This cover compensates you for the loss in market value following repair.
Cover not normally provided.
Family Legal Expenses
24 hour Home Emergency cover
Included with all policies as standard (emergency repairs up to £500 per incident).
Many insurers offer this at an extra cost (sometimes up to £84 per year)**.
Home office / business equipment
Liability and property cover included for clerical home business.
*This table is illustrative only and should be read in conjunction with the full terms & conditions of a Hiscox policy. As you move through the Hiscox quotation process we will highlight any terms and conditions which are specific to your own unique circumstances. The 'Standard Insurance Policy' column above is a genuine attempt to reflect the cover provided by most household insurance policies today. Information has been sourced from Defaqto, an independent financial research company. We suggest that you check your own policy for a specific comparison.
**Information sourced from Datamonitor Home Emergency Report June 2006.
If you need to make a claim,
please contact us on:
0845 330 0505
From overseas, please call
+44 1702 443686
Defaqto is an Independent Financial Research Company
and have created a comparison tool where products offered by Hiscox
can be compared alongside their competitors.