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Home insurance rip off!

 
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John W



Joined: 07 Dec 2006
Posts: 3360
Location: Warwickshire, UK

PostPosted: Fri May 30, 2014 8:29 pm    Post subject: Home insurance rip off! Reply with quote

Just had our renewal letter 420 annual home and contents insurance, been going UP steadily for the last 5 years.

Went on to the 'meerkat' site and most quotes are 130 annual !!!! That's 10 quid a month!!!! And the cover is up to 500,000 building and 75000 contents (even though I entered figures of half that)

I had ticked the boxes for accidental damage (building and contents). Excess is 100.

Think I'll be changing. Low quotes might be to do with: one of us is over 60, the kids have left home, the house is brick detached, we have a burglar alarm on every night. We are in West Midlands and in a Neighbourhood Watch zone.
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John W
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ruddlescat



Joined: 16 Sep 2010
Posts: 18010
Location: Near Chester

PostPosted: Fri May 30, 2014 8:47 pm    Post subject: Reply with quote

Without wishing to appear critical John - and at the risk of sounding like Martyn Lewis - you should NEVER accept any renewal quote from an existing insurer

Every year you should go on line and check prices not just on one comparison website but a selection and also the sites of companies like Direct Line who do not appear on comparison websites

When you've found the best deal available you then go back to your existing insurer and tell them all about it and it's amazing how your renewal price suddenly drops

My home insurance for buildings and contents in the current year is costing me the mere sum of 40 because I found the cheapest deal through comparison websites which was Legal and General and then I went to their website through Topcashback.co.uk and the premium was less than 200 but I also got 60 back from Topcashback plus 75 in M &S Vouchers for being a new customer plus I got a further discount for doing the deal on line which was a very nice little deal from my point of view

Next year when I renew I told my existing insurers that I expect them to be paying me for the privilege of having my business - providing I don't have any claims Smile
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John W



Joined: 07 Dec 2006
Posts: 3360
Location: Warwickshire, UK

PostPosted: Sat May 31, 2014 2:26 pm    Post subject: Reply with quote

Right, almost annually change my car insurance via the compare sites, so yes I should have done this a couple of years ago with the home.

I'm going to take up a new one from the compare meerkat site

a) not talk to the current as they ripped me off for two years
b) Mrs W wants a free baby Oleg

Smile
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Angela W



Joined: 11 Dec 2006
Posts: 6862
Location: North Yorkshire

PostPosted: Sat May 31, 2014 8:44 pm    Post subject: Reply with quote

Ironically we had decided to find a new insurer in 2012 but then we were flooded, so we stayed with the same company while our claim was getting sorted out. We still hoped to change when renewal time came round again but now no-one will insure us apart from the company we were with in 2012.
Sad Crying or Very sad
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ruddlescat



Joined: 16 Sep 2010
Posts: 18010
Location: Near Chester

PostPosted: Sat May 31, 2014 8:56 pm    Post subject: Reply with quote

Tesco Insurance told me that they've put a complete ban on insuring my postcode for exactly the same reason

Luckily for me they're the only one so far - although of course others could follow suit

Arguing against my own view my uncle recently died aged 101 and because of his age he'd never bothered to shop around for home insurance and had been with the same insurer for over 30 years

After he died as his executor I discovered that his former home was suffering from extreme subsidence and duly reported it to his insurers and they tried to wriggle out of the claim by claiming that the problem was a historical problem and had not been disclosed - to which I replied that they'd been his insurer for over 30 years so they would be liable anyway - and they duly paid out over 20000

I suppose if he'd changed insurers every year I couldn't have argued the case so strongly but it's always nice to get one over on those type of organisations - and that's putting it politely Smile
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Colin



Joined: 26 Sep 2013
Posts: 916

PostPosted: Sun Jun 01, 2014 10:33 am    Post subject: Reply with quote

Out of curiosity, I did a quick online check to see what alternatives were available and one of the questions I noticed was: "Is your property within 1/4 mile from water?"

Our house overlooks the Grand Union Canal and it's about 30 yards away on a decline from our house! How would I respond to that - and would it be a perfect excuse for them to rip us off?
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Angela W



Joined: 11 Dec 2006
Posts: 6862
Location: North Yorkshire

PostPosted: Sun Jun 01, 2014 8:16 pm    Post subject: Reply with quote

Colin wrote:
Out of curiosity, I did a quick online check to see what alternatives were available and one of the questions I noticed was: "Is your property within 1/4 mile from water?"

Our house overlooks the Grand Union Canal and it's about 30 yards away on a decline from our house! How would I respond to that - and would it be a perfect excuse for them to rip us off?


Who knows? Its all a bit of a con as far as I can see. We can't see water and our nearest is probably about a mile away........it was the Fire Brigade who
got us, as we found out later.
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