I think we've been overcharged for home insurance

kittygirl_2

looking back at all our home insurance payments for that last 7 years our premiums started at £455 for a 3 bed mid terraced house - rising to £825 in 2010. We recently moved into a 4 bed detached and shockingly i got house insurance for less than £150. I was so amazed at this price that I got angry with my last insurance company as I now think they have been over charging us for years and I would like to get some of my money back. We've never made a claim in all the years we were with Halifax, and I baulked at their insurance quote of over £1500 for our new house. Does anyone have any ideas and suggestions on how i could get some moneyback from Halifax?
Thanks

InsideInsurance

Why could you get your money back? Each year they gave you a quote and you were able to compare that to other insurance companies as you did when you moved this year. Why is it their responsibility to ensure that you did that?

A shop could charge you £5,000 for a can of beans, its your choice if you buy from them or the shop down the road selling them for 32p

dunstonh

4 bed detached and shockingly i got house insurance for less than £150.

A £150 annual premium for a 4 bedroom detached in the cheapest areas would indicate you have a bare bones policy.

I got angry with my last insurance company as I now think they have been over charging us for years and I would like to get some of my money back.

Be angry with yourself for leaving it 7 years. You cant get your money back. They offered terms each year, you agreed them.

Almost certainly you are not comparing like for like as well. You tend to find a lot of the old Halifax plans are comprehensive in cover and include accidental damage to building and contents, personal possessions cover, legal expenses and other things that are added extras on other plans. The premium you are paying will have removed all those things. So, it would obviously be cheaper. That doesnt make it wrong.

somethingcorporate

You may have been overpaying (through your own apathy) but have not been overcharged.

mikey72

Sadly, all insurers punish loyalty.

Shop around every year, car insurance, house insurance, breakdown cover, never renew without getting new quotes from other providers.

_Andy_

LOL I love this idea that just because you don't like the price or you haven't claimed on it, you should be able to get your money back. How exactly would insurance companies make money from this?
LMFAO, 88 miles per hour!

dunstonh

My milkman has been delivering milk for the last 15 years. I didnt realise that if I bought less milk from a different retailer that I would pay less. Can I reclaim my milk bill for the last 15 years?

That is what you are asking for with the insurance policy.

.....Let's see if you !!!!!!!s can do 90.

mikey72

dunstonh wrote: »

My milkman has been delivering milk for the last 15 years. I didnt realise that if I bought less milk from a different retailer that I would pay less. Can I reclaim my milk bill for the last 15 years?

That is what you are asking for with the insurance policy.

.....Let's see if you !!!!!!!s can do 90.

Well, if it was like insurance, you probably bought one pint 15 years ago, then he just kept delivering, whether you wanted him to or not, even though you'd been buying milk from tescos.

fred7777

You can;'t get your money back. It's just the way insurance companies operate these days.

Two years ago I paid just over £200 for home insurance last year it was £250 and this year the quote is £380. They just keep raising the premiums each year once they have you that way they get more from return customers who don't shop around.

dunstonh

Well, if it was like insurance, you probably bought one pint 15 years ago, then he just kept delivering, whether you wanted him to or not, even though you'd been buying milk from tescos.

Like the insurance that gives you their price each year, the milkman is paid every week and tells me what the price is when it goes up.

Come mikey, even you must surely see that there is no scope for refund here and that it is a daft request.

kittygirl_2

InsideInsurance wrote: »

Why could you get your money back? Each year they gave you a quote and you were able to compare that to other insurance companies as you did when you moved this year. Why is it their responsibility to ensure that you did that?

A shop could charge you £5,000 for a can of beans, its your choice if you buy from them or the shop down the road selling them for 32p

Actually we didn't check as we trusted them