Just had an email to say my buildings and contents insurance is going up over 60% next month, obviously I’ll go on some comparison website to see if I can get a better deal, just wondered if anyone else was getting huge increases, without having made any claims, I know they rely on inertia, but this is crazy!
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So, your insurer either hasn't read the rules, is making hay while the sun shines or perceives you to be a higher risk for some reason. Might be worth having a word with them and asking why they aren't getting themselves sorted out before they are forced to.
Of course this will mean that the savings the more astute used to make by switching insurer every year will be much more difficult to find.
* These are the FCA's words. But I assume that's an aggregate saving and that there weren't 6 million people spending more than £1.2bn each on home insurance. But it's still £200 pp which is shockingly huge frankly.
She is totally cheesed off with her hubby who filled out the policy details and it seems went for cheap coverage. The irony is, her hubby is a copper. So beware, check your policy details VERY carefully and learn how to put a curse on tricky dicky insurance assessors.
There is always a deal giving you a better quote as new business. Its just the way insurance companies work, when they have people tied in & not changing after a few years they try it on.
We were with Halifax for a couple of years and unfortunately last year had to make a claim for the first time in 20 years on home insurance. As I expected our premium jumped up for renewal. I was surprised even with the claim against us stated, we still got a very good quote via the comparison site with 'More Than'. Basically what we paid the previous year.
My friend of forty years David died about four years ago.
David was like the big older brother I never had.
When he died he left just his wife of 90years old and no other relatives.
They had a very traditional marriage, David looked after the finances and his wife Joan cooked the meals.
So because of our friendship, we (my wife and I) look after Joan.
Keeping a eye on her and without being to intrusive her finances.
We had to get her used to banking and to start using her debit and credit cards.
I remember taking her shopping and waiting as she used her card for the first time.
"What's my pin number John?" she shouted.
Very embarrassing.
I digress.
So you get the idea.
We called in to see her as we do at least once a week and she showed us a letter from her house insurance renewal from Halifax.
She wasn't sure if her renewal £450 was ok.
I was horrified and rang Halifax to explain their cost which seemed excessive.
The nice lady on the phone said she would send alternatives for Joan to consider.
The next time we visited Joan they had indeed sent her a revised cost, £400.
I rang Halifax to explain the cost and the nice lady said they had reduced the sum by £50 as she was renewing the policy.
I asked how the policy was set up.
The nice lady said Joan had a garage with £5000 pounds worth of goods inside.
Her garage was actually empty.
The nice lady also pointed out that Joan had a study with £3000 pounds of valuables.
All total nonsense.
After much bargaining I got the lady down to £156.
Now the above may seem annoying but, I asked the lady when the policy commenced.
She said 2012.
I was a bit confused as my friend David was vehemently opposed to insurance and insurance companies for all the years I knew him.
But in 2011/12 he started to suffer Alzheimer's disease.
I would hate to think he was taken advantage of, but I wonder.
Didnt even bother ringing them, just cancelled it straight away- was an automatic renewal too, so they were probably banking on me not doing anything.
Spent 10 minutes online and have got a quote from Aviva for the exact same cover at less than half what I paid this year, let alone what those scouse fuckers wanted to raise it to.
Seriously. How are they allowed to get away with this shit? Its shocking.
Edit just looked up at the top of the thread, as I thought that looks familiar, didn’t realise I’d started it lol.
Hopefully me cancelling has just fucked up their spreadsheet, in it's own small way.
I've never made a claim but surely there is a big difference in service levels when you do make a one?
Whilst every insurer has different views as to the type of business they want and therefore price accordingly, do read in full exactly what you are buying, often to the untrained eye they will look the same but not always the case.