Monzo is offering contents insurance


((╯°□°)╯︵ ┻━┻) #1

Just had the below in a feed item. It’s a shame I’ve just bought insurance otherwise I’d have looked into it.

Anyone else got this?


#2

No, but it’s interesting, there was a poll a few weeks ago about insurance.

Out of interest what happens when you click ‘TELL ME MORE’?


((╯°□°)╯︵ ┻━┻) #3

Here are more screens.

I obviously haven’t clicked the last one…






#4

Thanks for sharing. Slightly strange that there is no clear indication of how much it will cost, especially since it seems like it is based on assumptions, rather than customer input.


(Daz Fisher) #5

£5 per month.
But not enough cover for me!


#6

Tempting - but no ad on iOS just yet. R-


#7

Is that after ‘I understand’?

Also perhaps more for Monzo is the pricing greatly impacted by the customers history or is it more generic?


((╯°□°)╯︵ ┻━┻) #8

It says on the first screen and in the feed notification that it is £5 per month for £10k cover.

I assume that once they pass your details over you can negotiate higher amounts etc? :thinking:


(Dan) #9

Doesn’t cover loss/theft by the looks of it


#10

We’re definitely the target market for this in my household. We probably need it and are happy to pay a small amount but cannot be arsed to go looking for it or tiptoeing through the minefield of dodgy providers to find a decent one.

We got contents insurance from some random provider via a comparison site when we started renting 4 years ago. Living in a new build, extremely secure property and area with low value contents, we didn’t really see the point but purchased it for peace of mind.

Then after a year they decided the premium was going to double (teaser rate apparently), so we cancelled it and never got round to getting another policy elsewhere.

If Monzo serves it up on a plate for us and the provider has similar values ie. not becoming predatory after a year, then they can :zipper_mouth_face: and take our money! :grinning:


(Simon B) #11

I legit think I’ll go for this - don’t think staff are getting early access or anything though. I defo paid more than £5 a month last time I had contents insurance.


(Sacha Zarb) #12

I need Buildings and Content, so can that be considered in the future?


((╯°□°)╯︵ ┻━┻) #13

They offer this and gadget insurance on their website so I don’t see why not. I guess they are just trailing this with one type of cover before allowing all?


(Kieren) #14

You probably had cover for more than 10k - that seems quite low to me - by the time you put in TV, Laptop, Consoles, Sofa, White Goods, Clothes etc…


(Sacha Zarb) #15

So we have cover for about £15-20k on ours (2 adults 2 children), accidental damage cover, plus a number of certain items which have high value (engagement ring, Road bikes) so this wouldn’t fit my needs, but can see it fitting others, so good move.


(Chris Rimell) #16

Ooh this looks like an exciting development.

Is 10k enough though for an average person/family? I think my existing policy is this for just high risk items as standard and 75k for contents… it’s hard to judge these things, better to be overinsured than under though!


#17

Seems like a good deal. I’m currently paying £10.12/month through Wrisk for £11 000 worth of cover.


#18

Interesting. I was offered the same kind of contents insurance in the app but with a £20,000 cover for £6.25 per month.

It seems though that they won’t accept someone (for now) if that person lives in a house with more than 2 adults.


(Dan) #19

I’m paying £14 but with an excess of £25 for phones & £50 for other, plus I can take my Apple products to an Apple store or authorised service provider and claim expenses back


(Simon B) #20

Yep, I believe we are testing three different options right now - the two already mentioned and a third one for £7 which also includes some out of home coverage.