Monzo is offering contents insurance


(Ben ) #42

Seems pretty useful this one. Is this a demo for a Market Place type offering or a Plus type offering?

What would everyone here feel about either (dare I go there…?)

Anyway I just had a look at their website to look at different options etc…

The Web quote has a basic offering of £20k for £7, which if you are renting could be a pretty nifty price point.

You can add gadget cover for £4-6 online, depending on number of gadgets.

A comparable quote for my actual stuff, is between £10 and £15, depending on how many gadgets I actually have.

If it’s the same basic package as you get building a quote online, then that’s about £2k of cover - and online that would cost £10.50.

So seems feasible I could get a better deal going through Monzo. Sign me up once my current home insurance is due for renewal)

(Also you can turn the Excess to £50 to £0 online too, if interested).

Edit, just to add - if the in Monzo App version is about similar to doing online - you can go from start to Checkout page in less than 2 minutes with this quote. I don’t think I’ve ever had an insurance quote be so straight forward.

Big fan of this type of integration, for my use case.


#43

Do you get access to that document before you sign up?


(Kieran) #44

Yep on this screen


#45

This seems super expensive to me. I pay about £20 a month for contents and buildings on a four bedroom house!


(Kieren) #46

I’m glad I’m not the only one that thought it was steep - £5 a month - £60 a year. I got contents for 50k of contents, including accidental damage last year for around £80…


#47

Interesting! It’s nice to see them branching into different products and it seems like a good deal for users who might not have as many (or as expensive) items to consider.


(Jamie) #48

Interesting idea but it seems very expensive compared to other insurers I’ve looked at recently.

You should always shop around and check out prices when taking out any kind of insurance


(Dan) #49

I think paying for the convenience and seamless integration of insurance may not always work out to be the cheapest, but is sometimes the best way. Sometimes the convenience is worth the money.


(Chris C) #50

Has anyone used Kinsu before?


(Dan) #51

Yep, me


(Chris C) #52

What’s your opinion on them? I’m considering signing up!


(Dan) #53

They’re okay and reasonably priced imo. They have an app. My only “thing” is they want a photo of you with the product you want to insure if you don’t have a receipt, but it’s not that big a deal. They will let me get my apple products fixed at apple then claim the money back less the excesses which I think is competively priced.


(Dan) #54

Really surprisingly and annoyingly, I just got an email from Kinsu to say they are closing :disappointed:.

I’m afraid that we have some sad news to share, Kinsu will no longer be providing insurance cover [from the 1st May 2019


(Ruben) #55

Me too, such a shame. I liked their service. Does anyone have a good alternative? I had the contents insurance.


(Emma (still not the app)) #56

I’m using Wrisk

Here’s my code if you want

You have been given £5 off your first Wrisk insurance cover.
To claim your gift, download Wrisk from the Apple App Store and buy a policy using the promo code: rH7dq7tA


(Ruben) #57

Thanks for the tip, but I’m not a fan of Wrisk. They make it way more complicated and more expensive than Kinsu. I just want 1 insurance for all my stuff at home and on the go. At kinsu I paid £14 with £50 excess fee. Wrisk lets me pay for every single gadget I have and has a high excess fee.


(Dan) #58

Their excess fee seems to be £25-£50 more than Kinsu, so it’s not that drastic, plus a slight increase in monthly premiums.

One thing I need clearing up, as a tenant, I have contents insurance. Is Kinsu/Wrisk the same thing?


(Ruben) #59

My main thing is that Wrisk wants you to insure everything seperatly. I found an interesting insurance company My Urban Jungle: https://myurbanjungle.com. They have simular type of coverage like Kinsu with some extra’s and arround the same price. After reading the policy I found that they use the same company for handeling the claims as Kinsu: davies group.


(Splodf) #60

Isn’t that who Monzo are using for this trial?


(Ruben) #62

Yep :see_no_evil:, I arrived on this tread because of the end of Kinsu and didn’t read everything :sweat_smile:.