Home Insurance Discussion

dacouch

You should be refunded some of the balance, which Insurer are you with and which Insurer has the mortgage adviser quoted you with? I guess its Payment Shield

CAE

My Buildings and Contents Insurance from Tesco has gone up by around £140 from last year. I have searched and now taken out a new insurance with More Than for £249, with a £60 cashback.

I have this morning phoned Tesco to cancel the renewal, and immediately they offered to match my new quote and give me a £20 Tesco voucher. I declined this and explained I would get £60 back from a cashback site. She went away for a few minutes, then cam back and said 'OK, your insurance renewal will be cancelled'. Guess they didn't want to price match that!!

If they will automatically match a lower price and give a voucher, why don't they just give the renewal quote as a lower figure in the first place. OK, I know why they don't do that as I guess many people will assume it is the best price already and not shop around. I'm so glad I don't do that anymore.

dacouch

Its because all the Insurers including your cover with More Than include a New Customers discount that is in effect subsidised by the existing customers who do not shop around.

Be prepared for your premium with More Than to go next year when they invite renewal without the new customer discount.

The More Than premium will go up by around £100 if you put a claim in as you will no longer qualify for the "Free" Contents cover.

If every single customer shopped around every year without fail the premiums would all be higher for everyone as the existing customers would not be subsidising the premiums and the Insurers costs would go up with all the extra work.

CAE

I take on board what you have said, but why should I as an existing customer subsidise new customers? If I shop around I can become a new customer and take advantage of any discounts available. As can anyone else.

lynn5854

I have a slightly different problem: I have a shop and live over the premises. My landlord has just sent me a bill for the buildings insurance of £1183 !! I tried to challenge the bill last year and he said that the only way I could do this was to get a chartered surveyor to value the property (cost??) if I couldnt do that cough up! It has gone up by over £100 since last year but I havnt made any claims. I have never seen any insurance certificate and when I asked for one I got a typed letter from them with what they said the charges were, not from the insurance company. What are my rights here, do I just have to pay what he says, or can I challenge it?Under the terms of the lease it says that the landlord insures the property and I have to reimburse him, but surely there must be some way that I can make sure that what I am paying is fair and reasonable, after all I have no proof of what HE is paying!

dacouch

Do you know who he is insured with and how much cover he has taken?

What sort of shop is it you run?

Is it a listed building and / or does it have a flat roof

What a lot of landlords do either intentionally or unintentionaly is pass the portion of the premium that covers them for the Loss of Rental Income you pay in the event of a damage claim eg a fire. If you find out how much of the premium that part of the policy is then he should pay that.

scandi

Hi,

After my flat was broken into last week (just moved in a couple of weeks ago), I’ve decided to get a home content insurance. I’ve never had one before.
All insurance companies want to know if I ever made a previous claim or if I experienced any losses in the last five years. I do understand why they want to know about the claims, but why are previous and unclaimed losses important to them, especially if this happened in a different property?

I’ve experienced another break-in once before, I lived in a shared flat but we didn’t have insurance and therefore didn’t claim. Do I still have to tell the insurance company? Of course I will tell them about the break-in last week.

beanypie

Can anyone help? We have recently been the victim of a burglary and have had to claim on our contents/building and car insurances. We have, therefore, had to pay 3 lots of excess which has come to a lot of money! Is there any way of getting this money back as we were the victims of a crime? It seems really unfair that we are out of pocket (quite substantially) through no fault of our own.

Many thanks

dacouch

Not unless they catch the burgalar.

How come you claimed on your car insurance, did they steal the vehicle?

Who is your home insurance with?

haggle_2

I started looking at confused, moneysupermarket etc to reduce my house insurance but found I could get lower prices by going direct. Will compare house insurance again next year for sure.