House Insurance - what on earth is going on???

[dasherdiablo1]

I've just had my home building and contents renwal come through; last year it was £238, this year it is £527. That's nearly £300 more expensive and nothing has changed - we haven't made any claims either.

Plain riduculous. Has anyone else had this?

[danyeates]

Does seem a lot.

It's about what I pay for contents and buildings insurance, but we've just bought our first house so have no previous insurance. We have the Marks and Spencer Premium cover.

[philmots]

One quick phone call through to cancellations will see it drop back down to what you paid before.

[Roo]

They're probably assuming you haven't noticed the auto renew bit in the T&C's.

Mine did the same this year. Couple of phone calls and I actually got it cheaper than last year with the same insurer.

[Use Psychology]

spurious whiplash claims basically.

[Steffan]

philmots said:

One quick phone call through to cancellations will see it drop back down to what you paid before.

You are correct but I detest this practice.

Lets see what the prat (insured) will accept is the modern approach.

Then drop the price if he complains.

All the hall marks of the barrow boy culture in insurance today.

Pity.

Edited by Steffan on Saturday 18th February 16:12

[CatJ]

I had been expecting a large increase this renewal, based upon how my car insurance and pet insurance had rocketed. I nearly fell off my chair when the increase was £4.32 for the year.

[Deva Link]

dasherdiablo1 said:

Plain riduculous. Has anyone else had this?

My next door neighbour did last year with SAGA - in fact the premium was £800. He had a massive row with them, they said they would knock a bit off for loyalty but the best they could do was £650. He got cover elsewhere for £200 (same as we pay, with LV=).

This year he got a mailer from SAGA offering him cover for £200. He's absolutely livid with them again and has fired off a letter them.

Edited by Deva Link on Saturday 18th February 16:15

[dasherdiablo1]

I'm going through A-Plan and they've told be that my current insurer are no longer doing home insurance and this is the cheapest they can find for the same cover. I cannot believe that A-Plan have the audacity to send me through a quote with such a huge increase. I have used them for years so at the very least I would expect a phone call to explain why it has gone up so much!

I will be voting with my feet and using esure who have come up with £290! Does anyone have any experience of esure?

[Steffan]

dasherdiablo1 said:

I'm going through A-Plan and they've told be that my current insurer are no longer doing home insurance and this is the cheapest they can find for the same cover. I cannot believe that A-Plan have the audacity to send me through a quote with such a huge increase. I have used them for years so at the very least I would expect a phone call to explain why it has gone up so much!

I will be voting with my feet and using esure who have come up with £290! Does anyone have any experience of esure?

My wife uses them has done for years. As good as any other insurer.

[Paul Dishman]

Deva Link said:

dasherdiablo1 said:

Plain riduculous. Has anyone else had this?

My next door neighbour did last year with SAGA - in fact the premium was £800. He had a massive row with them, they said they would knock a bit off for loyalty but the best they could do was £650. He got cover elsewhere for £200 (same as we pay, with LV=).

This year he got a mailer from SAGA offering him cover for £200. He's absolutely livid with them again and has fired off a letter them.

Edited by Deva Link on Saturday 18th February 16:15

On a slightly different note he'll continue to get mailings from SAGA for ever now. I think I've got them to stop mailing my Mum now shes passed away but you can never be quite sure. I made sure they didn't get my address....

[Wacky Racer]

Try AXA online.....saved me over £300 with more cover.

[TankRS]

Steffan said:

philmots said:

One quick phone call through to cancellations will see it drop back down to what you paid before.

You are correct but I detest this practice.

+1

my mate uses this tact all the time.

i have however used this to my advantage recently.

Sky box broke again for the 3rd time in a year, called them up to say it's gone again and they said i must be doing something to make it go all the time (i honestly don’t, its kept in a well ventilated unit and is usually on standby more than it is used as i'm rarely in the house to watch anything, and if i am its usually something that been recorded). This time they said it would be £75 for a new box or £50 for an engineer to come and have a look at fixing it. told them I’d leave it. hung up. Redialled and asked for cancellations.

I received my new HD+ box with upgraded Hard Drive and free HD for 6months all for saying I was cancelling. My mate only ever pays for half a year Sports subscription as he calls to cancel after the footy season finishes, simply saying he rarely watches it, how they haven’t cottoned onto it yet is beyond me!

regarding Insurance quotes, its almost as if they hit you with a ridiculous quote, expecting you to get furious and threaten to cancel only to issue you with the quote they should have given the 1st time round!

[otherman]

dasherdiablo1 said:

I will be voting with my feet and using esure who have come up with £290! Does anyone have any experience of esure?

They're fine. Don't forget to Quidco it as well for an extra £45 cashback.

[Chrisgr31]

I really fail to understand why insurance companies offer introductory discounts in the ways they do. Its basic maths its hell of a lot cheaper to keep your existing customers than win new ones. The number of customers is relatively fixed aand at the end of the day we'll all be going round in circles just to get discounts. Better to have a fixed low price and save all the marketing advertising admin costs of everyone moving annually.

[condor]

Deva Link said:

dasherdiablo1 said:

Plain riduculous. Has anyone else had this?

My next door neighbour did last year with SAGA - in fact the premium was £800. He had a massive row with them, they said they would knock a bit off for loyalty but the best they could do was £650. He got cover elsewhere for £200 (same as we pay, with LV=).

This year he got a mailer from SAGA offering him cover for £200. He's absolutely livid with them again and has fired off a letter them.

I had the same with SAGA - used the price comparison sites...and went with MO>E THAN as it was a lot cheaper.
Have just cancelled my green flag car breakdown insurance as they increased my annual charge by 50%. When I told them that on one price comparison site there were 10 companies immediately who were cheaper than them - they said they'd look at it again. I told them not to bother as they should have given me a decent quote first.

[Migsy]

Steffan said:

philmots said:

One quick phone call through to cancellations will see it drop back down to what you paid before.

You are correct but I detest this practice.

Lets see what the prat (insured) will accept is the modern approach.

Then drop the price if he complains.

All the hall marks of the barrow boy culture in insurance today.

Pity.

The real pity is the elder generation that always believed in loyalty are getting royally stung.

My 73 year old parents have been complaining for a few years now about substantial renewal premiums for car and home insurance, but wouldn't listen to us children guiding them to use comparison sites.

Eventually, it's sunk in. Recent car insurance renewal with a 60% increase made him use a comparison site and he's paying less than he did last year now!

There's no stopping them since that episode..they are comparing and changing almost everything - from the Sky cancelling trick (beware not to do it too near to end of month when they've hit their max quota), to electric and gas.

Since they've lots of time on their hands being retired, he can do mine! I find it tedious and frustrating, but a necessity.

[Migsy]

Chrisgr31 said:

I really fail to understand why insurance companies offer introductory discounts in the ways they do. Its basic maths its hell of a lot cheaper to keep your existing customers than win new ones. The number of customers is relatively fixed aand at the end of the day we'll all be going round in circles just to get discounts. Better to have a fixed low price and save all the marketing advertising admin costs of everyone moving annually.

I think they rely on:

- auto-renewal "Mr Customer you don't need to do a thing now we've got your bank/CC details, we'll automatically renew your insurance and you'll never have to worry about not being covered"
- people with busy lives who haven't sussed that 30 mins is all it takes to save a load of money
- loyalty of people like my parents, who've stuck with the same company because they've never had a problem or claimed and it's the old school way of doing things (as it used to be with mortgages).

[otherman]

Migsy said:

Chrisgr31 said:

I really fail to understand why insurance companies offer introductory discounts in the ways they do. Its basic maths its hell of a lot cheaper to keep your existing customers than win new ones. The number of customers is relatively fixed aand at the end of the day we'll all be going round in circles just to get discounts. Better to have a fixed low price and save all the marketing advertising admin costs of everyone moving annually.

I think they rely on:

- auto-renewal "Mr Customer you don't need to do a thing now we've got your bank/CC details, we'll automatically renew your insurance and you'll never have to worry about not being covered"
- people with busy lives who haven't sussed that 30 mins is all it takes to save a load of money
- loyalty of people like my parents, who've stuck with the same company because they've never had a problem or claimed and it's the old school way of doing things (as it used to be with mortgages).

It seems like a flawed strategy though, doesn't it. Because the only people they can attract are the ones who switch to get a better deal.

[kooky guy]

It's not just insurance companies doing this. The RAC and AA both do this each year too.