Big increase in monthly cost

continualdiamond

Should i look around now as just got a letter to say that from June my monthly premium will increase to £17.64 an increase of £9.67.

Now i understand the reason for the increase with the economy being the way it is, but part of me feels that too much of an increase.

What do people think?? As this is the 1st time i have had this kind of insurance (loss of job/injury).

Would i be lucky to find anything cheaper? I'll definately do some quotes online later, i was just after peoples thoughts on this as well to help me out.

Thanks

dogbot

This kind of increase seems fairly standard at the moment because the risk is regarded as much heightened - see unemployment stats out this week!

It still doesn't seem like too bad a price, but it might be worth having a shop around, or contacting an IFA to see if they can build you a more comprehensive package of protection.

cattie

Before you consider shopping around, be certain that there is no chance of you suddenly losing your job in the near future, as with a new policy you will have to go through a new exclusion period.

It wouldn't be wise to leave yourself with a period where you weren't actually covered.