Saturday, December 08, 2007

How I got this years home contents and buildings insurance for free

Now that I've been paid I'm happy to write up my home insurance story...

1) I don't live in the biggest house
2) I don't tend to make claims on my home insurance so I am happy to accept a slightly higher excess on insurance policies, eg £150 instead of the default £75/100.

Looking at the cashback on offer at Quidco it seemed that the fixed amount of cashback is comparable to what I pay for my insurance. So when it came to renewal time I got quotes from all the insurance companies that offered a decent amount of cashback.

For each site, I worked out (quote) - (cashback), and made a note of the excess. I was also slightly wary of sites with higher quotes and higher cashback amounts, in case the cashback didn't come through and I ended up with only the higher quote.

I decided on:

Contents - Co-operative - £56 quote - £70 cashback
Buildings - Prudential - £93 quote - £85 cashback

The transactions "tracked" immediately so I could tell that I should get the cashback. The funds cleared about 2 months later and I got paid via a BACS transfer on December 1st.

Overall, I got paid about £5 to have my home insured for a year. T'is a crazy old world.

PS You should also use Quidco for purchases you make online whenever possible, eg Comet, HMV, Tesco, GAME, Woolworths, Asda, Waterstones, Hilton Hotels.

PPS I also got £10 when I applied for and was accepted for an American Express Platinum credit card that gives 1% cashback on purchases. I used this card when I paid for my home insurance so it was actually even cheaper :)