Home insurance

Pak_Doo_Ik

Pak_Doo_Ik

Well-known member
Just another thing that is going up for no reason.

My premium for buildings and contents has gone up from £177 to £245 despite not having made a claim for Christ knows how long. Just checked on a comparison site and this is still the cheapest I can get it.

Just more businesses thinking ‘why not put our prices up, every fecker else is’
 
It's mad, our renewal came in went from about £210 to £230 - just over a quid a month. So for ease, just stuck with it. Last year the renewal figure went up well over £100, so sacked that off. Think they just make figures up tbh. 🤦🏻‍♂️🤦🏻‍♂️
 
Had exactly the same with direct line when they auto renewed it ....cancelled DD they brought it back to original price sharply , some bare faced profiteering going on all over sadly,
 
Sadly loyalty doesn't get you better deals, your just a statistic who can make them money.

Never accept the renewal price. Always shop around and threaten to leave. If they want your business that bad they will offer you a fair deal.
 
Benjiboy said:
Had exactly the same with direct line when they auto renewed it ....cancelled DD they brought it back to original price sharply , some bare faced profiteering going on all over sadly,
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Interesting, it was they who hiked my renewal but couldn't get anywhere near other deals.
 
Ours went up and I rang them and said I would change out of principal, and said I could get £80 cashback by switching to bring it down. they knocked a load off so was worth calling even though it was a bluff.
 
Fully agree it's shocking. I can just about understand Fuel and heating etc. Things are going on in the world that effect that.

No excuse for home insurance to go up significantly unless you've claimed etc. Ok maybe at a push £10-20 a year just 'because' . Yet no reason for massive increase.

I think many things are just jumping on the band wagon.

The most annoying thing about this is like sky and phone contracts etc. You phone up and threaten to quit they will reduce it. Just don't increase it or offer me that price anyhow. You shouldn't have to phone up so someone can say 'I'll see what I can do' like it's a favour.
 
The premiums are based on risk, more people have been home and that increases the chance of a claim. More people are working from home and have a few grands worth of kit given to them so again increases the value of a claim should you be broken into. As said the cost of the repair in itself has shot through the roof too. Whether you've made a claim or not all of that is taken into account because you might make one.
 
Is it true that you should pay a bit more for house insurance and go with a bigger company or is this a myth?

I was under the impression that cheaper companies would be less likely to pay out in the event of a claim.
 
Uwefuchs said:
Is it true that you should pay a bit more for house insurance and go with a bigger company or is this a myth?

I was under the impression that cheaper companies would be less likely to pay out in the event of a claim.
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Depends on the exclusions in the policy to be fair. It's certainly the case with travel insurance though, the cheaper end of the market will do anything to get out of paying, but again it'll tell you in the policy wording that no one reads but says they do when accepting the T&C's
 
Northstand126 said:
Depends on the exclusions in the policy to be fair. It's certainly the case with travel insurance though, the cheaper end of the market will do anything to get out of paying, but again it'll tell you in the policy wording that no one reads but says they do when accepting the T&C's
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Might be worth looking at, is there any specific wording to look for in the T&C's?

Cheers
 
Yes its based on risk but how do you explain a scenario where a customer get a renewal quote that is £100+ pounds more expensive but if you threaten to leave or cancel your policy and make a new one with same company your suddenly a much less risk. Money grabbers.
 
Benjiboy said:
& thats what they hope for , people who just say sod it & pay
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Not true anymore, a new customer can't be charged less than an existing policyholder now. If you've been with an insurer for over 5 years they'll tell you to look elsewhere but people don't. If you get a discount it's because you'd been with them a few years
 
All companies overheads are going up so they’ll need to increase their income to satisfy their shareholders
 
Northstand126 said:
Depends on the exclusions in the policy to be fair. It's certainly the case with travel insurance though, the cheaper end of the market will do anything to get out of paying, but again it'll tell you in the policy wording that no one reads but says they do when accepting the T&C's
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Ye look for defaqto 5* then you know they have the best level and less likely to look for ways not to pay
 
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