I think we've been overcharged for home insurance

rs65

Macalan wrote: »

I agree that shopping around is wise - but can a provider really have such a difference in prices?

Any one insurer can have various levels of cover - usually the lowest level available through any comparator website so they appear higher up the list.

My mortgage provider gave me a quote of £600 and asked what I thought. It was 3 times what I was paying. I have never known a bank or mortgage provider to offer a competitive quote.

Macalan

I ran the same info through Halifax's (darn - I've named them) own website and it was about £580 cheaper online than they are charging for a policy through the door!

I don't think the difference is there because of it being an online quote (sure - some discount can be expected)...I think somehow I am being shafted goodly and properly!

Is it something I can whine about ? - not sure but I will be in their office on Monday morning.

ACG

You wont get anywhere....
Halifax - heres the cost of your insurance, carry on paying if your happy
Macalan - carries on paying

Its not like you have been forced or blackmailed into it. I agree its very annoying but whats done is done, weve all made mistakes.
Same providers offer different levels of cover so there could be a difference in cover (forget excess etc for things like amount of cover, what they cover eg trace and access, legal cover, emergency cover etc etc).

I personally dont like comparison sites after some research i did earlier this year, cheapest isnt always best - there are cutbacks somewhere - whether you can see it or not. For basic cover i think theyre great for something more in depth and offer better cover theyre not so good.

dunstonh

What P's me off more than anything is that both the current policy and the online quote are the same provider!!

Is it the same retail version?
Is it the same level of cover?
Is it the same distributor (just like retailers, different distribution channels can price the product differently)?
Are the figures net of discounts or are you comparing one with a discount vs one without?

Should be a punishable offence! I agree that shopping around is wise - but can a provider really have such a difference in prices?

Who says it is the provider and not the retailer?

Macalan

Thanks for your comments.

I have a quote from Halifax's own website of £226 and they are asking/taking £823 (for exactly the same policy cover) through my letterbox.


Grrr....

opinions4u

Macalan wrote: »

Thanks for your comments.

I have a quote from Halifax's own website of £226 and they are asking/taking £823 (for exactly the same policy cover) through my letterbox.


Grrr....

So set up the cheap policy and cancel the existing one.

Or go elsewhere.

Macalan

I will go elsewhere....once I have made my feeling clear on Monday.

Gutted - as the policy has been running since 2005 - and I have dumb enough not to shop around. It is currently around half the price it started at back then (£450 then compared to £226 now). That original £450 has gone up by almost £400 since 2005.

Maybe the manager will be kind enough to write 'MUG' on my forehead on Monday...least they can do!

opinions4u

Macalan wrote: »

I will go elsewhere....once I have made my feeling clear on Monday.

Gutted - as the policy has been running since 2005 - and I have dumb enough not to shop around. It is currently around half the price it started at back then (£450 then compared to £226 now). That original £450 has gone up by almost £400 since 2005.

Maybe the manager will be kind enough to write 'MUG' on my forehead on Monday...least they can do!

You do realise that a bank branch doesn't do anything other than sell policies for the premium set elsewhere within the business.

There is absolutely nothing to be gained from going in to branch.

Set up your replacement policy then ring up and cancel the one you've got.

dunstonh

Gutted - as the policy has been running since 2005 - and I have dumb enough not to shop around.

Chances are that it is not the same retail version or the same distributor then.

mikey72

Always shop round, usually a much better price if you go direct, or through a comparison site.
House, car, insurance usually attracts a penalty if you renew, rather than get a new quote.

Brokers and other re-sellers always add their profit on.