Home insurance through the roof

[PositronicRay]

(So to speak)

£200 last yr renewal £280. No claims or change of circumstances. I know things are getting expensive but feels like a ridiculous increase.

[alscar]

As a percentage certainly seems a lot on a clean renewal with no changes - what does the meerkat say for comparison purposes ?

[jimmytheone]

PositronicRay said:

(So to speak)

£200 last yr renewal £280. No claims or change of circumstances. I know things are getting expensive but feels like a ridiculous increase.

Ours went from £300 to £500 (e sure) so went with someone else at £200 (Hastings i think).

As ever it pays to shop around

[TimmyMallett]

Ours did the same. Called them, they immediately dropped it to last years price, no questions.

[megaphone]

I usually switch providers every year, go through a cash back site like Quidco for extra money back.

[PositronicRay]

Ahh yes Meerkats coming out with better options.

Strongly one insurer is £133 through Meerkat and £330 on their own website.

[the-norseman]

All insurance companies try it on with renewals these days in the hope that your too lazy to either switch or call them and they make £££ out of you for nothing.

[ro250]

PositronicRay said:

Ahh yes Meerkats coming out with better options.

Strongly one insurer is £133 through Meerkat and £330 on their own website.

Often the case. In the past I've tried to use the comparision site then go through TopCashback to generate a new quote to get the cashback - it's always a much higher quote. The comparison sites must get exclusive discounts.

[The Leaper]

Is this thread about home buildings insurance or home contents insurance, or both?

[bigpriest]

jimmytheone said:

PositronicRay said:

(So to speak)

£200 last yr renewal £280. No claims or change of circumstances. I know things are getting expensive but feels like a ridiculous increase.

Ours went from £300 to £500 (e sure) so went with someone else at £200 (Hastings i think).

As ever it pays to shop around

esure have gone mental with both car and home insurance renewals. A quick check on comparison sites saved 50% on each.
They must be hoping existing customers either auto renew or can't be bothered.

[ro250]

bigpriest said:

jimmytheone said:

PositronicRay said:

(So to speak)

£200 last yr renewal £280. No claims or change of circumstances. I know things are getting expensive but feels like a ridiculous increase.

Ours went from £300 to £500 (e sure) so went with someone else at £200 (Hastings i think).

As ever it pays to shop around

esure have gone mental with both car and home insurance renewals. A quick check on comparison sites saved 50% on each.
They must be hoping existing customers either auto renew or can't be bothered.

I was with esure for my car and home - in last 2 months I've gone elsewhere for both as they were wildly more expensive despite no change in circumstances. On the second one I even told the operator how they'd lost me as a customer for 2 policies by hiking their prices so much and they didn't care or even try to offer me something better.

[jimmytheone]

ro250 said:

bigpriest said:

jimmytheone said:

PositronicRay said:

(So to speak)

£200 last yr renewal £280. No claims or change of circumstances. I know things are getting expensive but feels like a ridiculous increase.

Ours went from £300 to £500 (e sure) so went with someone else at £200 (Hastings i think).

As ever it pays to shop around

esure have gone mental with both car and home insurance renewals. A quick check on comparison sites saved 50% on each.
They must be hoping existing customers either auto renew or can't be bothered.

I was with esure for my car and home - in last 2 months I've gone elsewhere for both as they were wildly more expensive despite no change in circumstances. On the second one I even told the operator how they'd lost me as a customer for 2 policies by hiking their prices so much and they didn't care or even try to offer me something better.

Yeah, something weird going on at e-sure fo sho - they could not explain why the increase was 50+%
we've had no claims, no change in circumstances...

[Flooble]

ro250 said:

PositronicRay said:

Ahh yes Meerkats coming out with better options.

Strongly one insurer is £133 through Meerkat and £330 on their own website.

Often the case. In the past I've tried to use the comparision site then go through TopCashback to generate a new quote to get the cashback - it's always a much higher quote. The comparison sites must get exclusive discounts.

I suspect you just appear to be a "repeat quote" - i.e. keen to buy - to the insurer when you go back for the second look and/or the cashback link itself triggers an increase.

[Grumps.]

the-norseman said:

All insurance companies try it on with renewals these days in the hope that your too lazy to either switch or call them and they make £££ out of you for nothing.

It's been the same for many years.

[Condi]

the-norseman said:

All insurance companies try it on with renewals these days in the hope that your too lazy to either switch or call them and they make £££ out of you for nothing.

I thought that was outlawed? Fairly sure they're not allowed to offer new customer discounts any more.

Anyway, with insurance you only find out why it's cheap when you really need it, and at that point the extra £50 or £100 will be the last of your worries!!

[PositronicRay]

Condi said:

the-norseman said:

All insurance companies try it on with renewals these days in the hope that your too lazy to either switch or call them and they make £££ out of you for nothing.

I thought that was outlawed? Fairly sure they're not allowed to offer new customer discounts any more.

Anyway, with insurance you only find out why it's cheap when you really need it, and at that point the extra £50 or £100 will be the last of your worries!!

If that's the case, is the Meerkat thing a workaround?

[Simpo Two]

ro250 said:

Often the case. In the past I've tried to use the comparision site then go through TopCashback to generate a new quote to get the cashback - it's always a much higher quote.

I'm not surprised at all. I'll take photos for £400pd, or £500pd with £100 cashback.

Cashback companies are just another layer of profit that the punter pays for somewhere. Same for comparison websites - but they survive and thrive because the insurance companies mess people about.

[guitarcarfanatic]

Home Insurance should be rising now - quite a few changes enforced by the FCA so Insurers need to push the premium up.

Also, most insurers make a loss on home insurance and then rely on financial investments - it’s a tougher financial climate to do this. So expect increases to bring us in line with other markets in the next decade or so.

Add in rising claim costs (materials and labour up 30%), higher cost to do business and some extreme peril years driven by weather (several unusual storm events, two back to back subsidence surges and several big freezes)…

And then all the ESG stuff they are signing up to…which will increase their operational costs, and as they push to supply chains, add more cost in claims…

Average home insurance policy in Germany = 1200 euros. Average home insurance point in the UK is circa £200…something has to give!

So policies are going to get more limited in what they cover and the cost is going to go up. Insurers are pushing efficiencies, but ultimately, we as customers will be paying for it.

[Lonoxe]

In our case, albeit a listed property, the difference in auto renewal and going out for new quote was four figures! Bad business model but it just serve them well on the whole as they persist with it

[The Leaper]

The Leaper said:

Is this thread about home buildings insurance or home contents insurance, or both?

Nobody responded to my earlier post, so, assuming it is just contents insurance, mine has come up for renewal and all the sums assured have automatically increased by 11.1%, which I acceptable, but the premium has gone up by 37%. I made the call and was told "that's life" !

R.