OT: Home Insurance

[RJH]

Just renewed by home /contents insurance - went from the PO to Nationwide. Couple of things seem to have changed recently:

Premiums have gone right down. I paid £390 last year - this year, using a compare market site, £108. Not especially grand 4 bed terrace. Pretty sure I would have checked at the last renewal date, so I don't know what's going on there.

Cover has gone up. They weren't interested in anything under £2000, or building costs below £1m.

When I phoned to cancel, they did the usual 'we'll try and beat that quote', but I'm tired of that now. I'm taking all of these renewals as final and best, even it does cost me a few quid.

[Dave Plowman (News)]

If only everyone did it. Always. We'd maybe get to the sensible way of a company wanting to keep good existing customers.

[alan_m]

Your previous £390 seem high.

I've found that these £500k/1m buildings and £30k/350k policies have been the best buy for many years. You may find the same assuming that you can answer yes to all their questions - no flooding etc.

Accidental damage cover can add significantly to the cost of the policy.

One thing to watch when you get a renewal quote is that the insurance companies may only raise the cost on buildings/contents by a small amount but in the small print they have have increased the excess amounts by a large figure, thus minimising their risk.

[Brian Gaff]

It is very odd, considering on the amount of money needed for all thefloods and weather damage in recent years. Are you sure the small print does not mean you end up paying half the bill or something like that? Brian