Assurant premium hike.

Dick_here

JimmyTheWig wrote: »

My point is that it seems logical to always go for the cheapest, unless you can quantify the probability of any one company putting their prices up. Hmmm.

Spot on. With this type of insurance, go for the cheapest. If premiums go up, cancel and go with the cheapest. And so on.

TechnoBoy

I got a letter today outlining why I got a refund ... basically I cancelled due to the price increase and had no benefit from the insurance as I was still inside the qualification period.

The letter explained that the refund was due to feedback from other folks in the same position ...

dunstonh

!!!!!!_here wrote: »

Spot on. With this type of insurance, go for the cheapest. If premiums go up, cancel and go with the cheapest. And so on.

That assumes that these policies are all the same. They are not.

JaneH_3

weeklyrunner wrote: »

We have just put in a claim with the above company, within 1 week we were informed that the premium would increase from £17 to £34, is it coincidence? We have just received our first cheque, with it came a letter from Assurant, that each month we needed to send evidence of 2 jobs applied for (they will only accept rejection letters, or letters from employer offering interviews, which must include the HR contact! In our experience, many companies are too busy to send rejection letters!) we have looked through the terms of the policy and can find no mention of this being required. Can anyone explain, or has anyone else come accross this>

within 2 months of me claiming through Ant insurance they put my premium up from £24 to £40. It seems more and more that this might not be a coincidence.

JaneH_3

JaneH wrote: »

within 2 months of me claiming through Ant insurance they put my premium up from £24 to £40. It seems more and more that this might not be a coincidence.

p.s. with regard to providing evidence - I have to send form ABI1 from the jobcentre confirming that I signing on 2 further pieces of evidence. I keep my own record of jobseeking (instead of the jobcentre form) I put all details on there with contact info - the jobcentre sign and date it for me and, 6 months into claim, the insurance company seem to be happy with this. Like you I very rarely get rejection letters or even and acknowledgement to my application.

sons_2

dunstonh wrote: »

That assumes that these policies are all the same. They are not.

Spot on mate, like your posts as you speak a lot of sense and seem to help a lot of people.

I have never understood people only shopping on price as what is covered is just or even more important. I am not saying people should go for the most expensive as that would be foolish but they should read about what is covered.

dunstonh

within 2 months of me claiming through Ant insurance they put my premium up from £24 to £40. It seems more and more that this might not be a coincidence.

It was co-incidence. They re-priced everyone.

tobyjug

I know there has been loads of comments about this but this may just bring it to everyones attention again. My husband had a policy with ANT payment protection last April £25 per month in June it was increased to £48 we kept it ( due to current climate!!!) today he has received a letter stating it has gone over to British Insurance to say that it is being raised to £84.85.

Out of interest I did a search on the Bristish Insurance site and the quote was £35 per month for Age/like for like cover.....what a rip off.

I am not happy with this at all I ...I believe they are exploiting people and taking money under false pretences and that this is going to the fsa.

I am aware that this is a reviewable policy AND that it was too cheap to begin with I accepted the first hike but this is completely unacceptable as the policy is still available to buy at a low price. If I were to ask for a quote and be given £85 as a current price fair enough....surely this cannot be meeting fsa regulations?

Does anyone know or recommend a fair and troublefree policy provider.

dunstonh

Out of interest I did a search on the Bristish Insurance site and the quote was £35 per month for Age/like for like cover.....what a rip off.

I believe they changed their underwriter (or the underwriter made changes as they had to withdraw for a while). So, there is probably a difference in the policies. Although, even if there isnt they would have got a different price as the odds of different underwriters offering the same terms at the same price is unlikely.

surely this cannot be meeting fsa regulations?

There are no regulations for a retailer to sell different versions of the same products at the same price. Effectively, you had a version 1. People now are getting a version 2.

Does anyone know or recommend a fair and troublefree policy provider.

They have all gone up or will have by July. Quite a few had their product withdrawn and have now re-entered with a new product. So, its a common event.

diamonz

Hi - we have just received a huge hike in our premiums also - can anyone tell me what Martin is advising about this please as I used the links from this website to take out the insurance.
Thanks