I know DIY is a good place to come for information and advice from real
I have stopped being loyal to my home insurer. I got hiked over by RBS after
20 years of being with them and now this year RIAS has hiked my insurance
cover by £100 and I dont know what for. So comparison sites here I came -
and now I have their deals but when I have called up ( or they called me
more like) the price got hiked from what the quote to much higher even
though the cover quoted has stayed the same and then to add to that, I have
done all the sites and have got the same deal with different sites under
Then there is the reputation issue. So many independent reviews say
experiences are rubbish.
Can someone suggest a decent insurance company maybe?
Not one charging me an arm and two legs.
I haven't got a big house ( 2 bed bungalow) and I am not the possessor of
many antiques, fur coats or jewellery.
I have narrowed the field to three - Aim ( never heard of) Co - op and
Halifax ( except Halifax gave me a quote on money supermarket and then when
they called it went up by £30 odd quid , so I am not pleased.
I haven't heard from Aim nor the Co Op by " the can we help reduce this
even further" call hype.
In short - HELP!
Phone your existing company and tell them the best quote you've got.
There's a good chance they'll match it - or go some way towards doing so.
Many will put you through to their 'loyalty' department.
If there was one honest company I'd stick with it - but they all seem hell
bent in getting new custom at the expense of their existing ones.
*Don't worry; it only seems kinky the first time.*
Dave Plowman email@example.com London SW
Yes. Sadly you quickly learn that serial disloyalty is the optimal
strategy where utilities, insurance and supermarkets are concerned. They
all have the attitude that winning new business is rewarded.
It is true of banks too, but a lot more hassle to move between them even
in this era of notionally "easy" portability of accounts.
The OP failed to mention if his bungalow was a listed building on heavy
clay or in a war zone - all of these tend to affect the premiums.
As does the age of the building and its postcode floodability.
Thanks but I
doubt they would match the new quotes I have. RIAS is quoting me £276 for
renewal. I don't know why. I know when I signed up last year it was a
hindered and something. So its a £100 hike - and no changes in details.
Most of the comparison sites are offering me deals between £89 and around
£130 . You can tell the difference is in the level of cover.
However, even there I am getting different prices for the same cover from
the same companies ( eg Halifax) according to whether I went with go
compare, money supermarket or the meerkat. Then when Halifax called me, the
price was different again! This time about £30 higher but still a darn sight
lower than RIAS.
Also I cannot understand why RIAS has suddenly put my policy with AXA ( it
was with them last year) . Also Halifax is AXA and AXA themselves have
offered a much lower quote. Go figure.
I give them all the same details. I have another quote from Insure 4
retirement which is £237 and I cannot understand that either.
I tried Hiscox because Which? ( why do I believe them for anything)
recommend them. They came in ( same details) at £461 ! Why??
I don't live in a mansion. I have never made an insurance claim in 30 odd
years - for anything on home and contents.
I did make a car claim about 10 years ago.
I am just confused and I have decided that I will make the decision on
reputation as well now- Like how people view them.
Quite likely the new customer disloyalty bonus. Play the system and move
insurers if they try to fleece you. Sometimes you can even move from one
bit of the same insurer to another brandname still with the same
ultimate insurer behind it and get the new customer discount.
The message is clear customer loyalty doesn't pay any more.
Try haggling since you have a cheaper quote for the same cover.
Crumbs that is way over the top.
Are you sure you didn't declare it as a 20 bedroom bungalow?
I have seen some pretty wild quotes by companies that didn't want the
business but never a range of >5x between top and bottom quote before.
Hiscox always seem expensive. It's not worth wondering why the premiums
vary so much. They are so many variables/reasons.
Well FWIW, I used to be with Co-op, later with Nationwide (a small claim
with both, both dealt with efficiently) Currently with HSBC. The reasons
I moved each time was really becuase my cover requirements change and
another company was a better deal/better cover
I suspect that 1958 throws up a red flag and some insurers just seem not
to like bungalows. The post war re-building period, which continued into
the 1960s, saw a lot of experiments in building materials, not all of
them successful. Even where traditional materials were used, shortages
meant that a number of short cuts, like missing out timber cross-bracing
or wider spacing of timbers, were adopted.
There are also some quite specific risk factors that could lead to
expensive claims on your property. Wall ties made to the 1945 British
Standard had a predicted life of 60 years, although many did not achieve
that. Asbestos was 'The Miracle Fibre' and was widely used in building
materials in the 1950s and 1960s. Finally, depending where you are in
Cornwall, radon gas may be a risk.
Hello blast from the past
What are the rebuilding costs, not the "value" of the property
What contents do you NEED to insure?
Now go back and check what they all have to offer, show no loyalty, they
Check also when you get a renewal quote that the terms are the same.
If the renewal quote looks reasonable check the small print - an excess
of hundreds of quid may have been added (to the existing excess) making
claims of less than £500 pointless.
Claims of under £500 frequently are pointless since they will just up
the insurance premiums as a result and get it back off you twice over.
Provided you can stand a £300-500 excess that is one way to bring down
the extortionate cost of insurance.
This happens every year with my car insurance. Huge uplift in premium on
the renewal notice but, one phone call later, the price drops.
Last year = 293.00, renewal this year = 345.00, after phone call 263.00.
It seems there is no such thing as recognition of loyalty in the
insurance world now. I tend to shop around using a comparison site each
year and pick up an introductory discount each time.
Unless your requirements are unusual or (importantly) that company has
lots of policies already in your postcode, the premium should be fairly
sensible (compared to others). If they jack up the premium there is
usually a reason such as something they ask you that the comparison
engine did not.
When talking to company C, always have a couple of lower prices from
companies A & B to use as a negotiating point - you don't have to say
who they are, just say "I'm already looking at quotes £x cheaper. Can
you offer me a better price"
If you do have something that is driving up the price, try and find out
what it is and then use the services of a broker who is likely to know
of companies who are more tolerant of that something.
However for bog standard insurance, the broker may not be the cheapest.
Whatever drives it up isnt in all cases. When swinton and swift cover will
give me a deal ( although quite basic) for £89 and then Hiscox say £461 for
thesame cover I am stuck.
Most , other than RIAS are around £120 for roughly the same cover ( I say
rounghly some have higher specs than others.).
Then I can get three different prices from the same company for the same
Its not a fancy house.
Have you tried SAGA? I assume that at least one of you qualifies on age
Provided you can answer No to all their questions about past floods and
subsidence, etc., they'll probably offer you a pretty good deal - with
quite a high limit on the buildings and contents cover, so you don't
have to scratch about trying to work out how much cover you *actually* need.
On Thu, 09 Aug 2012 16:54:45 +0100, Roger Mills wrote:
I used SAGA a couple of years ago then at renewal the premium went up by
about 25% or so.
Looked around and finally settled on Age UK
if you're old enough to qualify.
The premium wasn't bad cf other companies and last year, at renewal time, it
had gone up by about 2% so I didn't bother to hunt around.
Insurance is going up to pay for all the flood damage.
There is a row going on with the gov over flood prevention schemes, there
was a holdoff pending the outcome.
But now there is a bust up. A lot of people won't get insurance and others
won't be able to afford it.
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