Home Insurance Premium

[Sim75]

Has anyone else seen their premiums skyrocket?

In 20 years it's always been around the £500 mark (for full fat cover), yet this year the quotes have shot up to £1k.
Cheapest is just shy of £900.

...and nothing has changed.

[skeeterm5]

Nothing has changed on your side. For the insurance companies the cost of repairs and replacement goods have increased substantially. No real surprise that premiums have gone up too.

[TwigtheWonderkid]

Mine's down £150, from around £650 to £500.

[55palfers]

Mine's up 50%

Lloyds. By your side!

[Dixy]

Wow what are you insuring, mine went up a tad but is no where near the sort of figure you are talking.

[alscar]

If nothing whatsoever has changed what do they say when you ask them why it’s doubled ?

[ARHarh]

Dixy said:

Wow what are you insuring, mine went up a tad but is no where near the sort of figure you are talking.

Last year my house and contents cost £135, even if quadruples it wont cost that much.

[Sim75]

alscar said:

If nothing whatsoever has changed what do they say when you ask them why it’s doubled ?

Haven’t asked yet, premium only arrived yesterday morning. I doubt the call centre will know though, or they’ll blame cost of living…

[valiant]

55palfers said:

Mine's up 50%

Lloyds. By your side!

Lloyds were always chancers when it comes to renewal.

Mine more or less the same as last year.

[OldSkoolRS]

Churchill went up such a small amount this year I couldn't be bothered shopping around like I did last year and in previous years.

Also our policy has some benefits that seem to be a PITA to add to a quote on the usual comparing websites too, so I felt lazy this year. I don't have to list my individual items (guitars in my case) that might be over a certain value and the cover they offer for those is more than any one guitar would be worth. Same for hifi gear.

[dalenorth]

We broker home insurance and across the board premiums renewals are pretty much level this is year, so something doesn’t sound right.

Feel free to email the docs over and I’ll get one of the team to sense check it if you wish.

[Mr_J]

Renewed with my current insurer last week. I think it went up £25; £450 to £475 for a 6 bed Georgian property in Lincolnshire.

[Dixy]

Do you have a thatched mansion on a flood plain in a crime hotspot earthquake tornado area.

[Armitage.Shanks]

Just had a quote. Last year £104, renewal £145. Confused.com best price £122 + website perks. I'll be going with the lowest quote. I think high value but low rebuild costs must have something to do with it. A rebuild of a 'standard' house is more or less the same price wherever you are in England I suspect.

Ten years ago I remember I was paying near £300 for the same house so how things have recalibrated is beyond me.

[Sim75]

Dixy said:

Do you have a thatched mansion on a flood plain in a crime hotspot earthquake tornado area.

You’d have thought.
A 4 bed semi in a leafy London suburb. Go figure!

[alscar]

Pointless comparing pricing unless 2 people here live in identical houses next door to each other with identical sum insureds for building and contents but just be aware that rebuild costs over the past year 1-2 years have probably increased somewhat so make sure you aren't under insured and are insured to value.
In the event of a loss you could then find yourself in a position where the insurer applies average which wont be good !

[CLX]

alscar said:

Pointless comparing pricing unless 2 people here live in identical houses next door to each other with identical sum insureds for building and contents but just be aware that rebuild costs over the past year 1-2 years have probably increased somewhat so make sure you aren't under insured and are insured to value.
In the event of a loss you could then find yourself in a position where the insurer applies average which wont be good !

Mine went up a lot so I shopped around and chose Aviva. I was surprised to see that I didn't have to discuss rebuild costs because the policy is unlimited. The premium is based on my address of course, but there's no concern about what it would actually cost to rebuild

[alscar]

If truly unlimited or insured for an amount that looks acceptable then of course you are correct.

[Mr Whippy]

55palfers said:

Mine's up 50%

Lloyds. By your side!

By your side, nice and close, fingers in your wallet.

[TwigtheWonderkid]

Unlimited buildings cover with premium based mainly on number of bedrooms, location, claims history and contents sum insured, is quite common. My Halifax policy provides the same.