Home insurance renewal ...confused!

Clynne

Hi

Can anyone tell me if, when using comparison sites, it's simply a case of entering the details that are on our current policy as near as possible?

We've received our home & contents renewal which is £1004 annual premium (about £83 a month) which I've been told is really high! So I've just entered details of what is on our current schedule, with some additions, and the amounts that have come up range between £250-£800 ....I'm amazed that some have come in so low which makes me wonder whether I've done something wrong in the details I'ves entered!

The annoying thing also is that our current insurers have come in at £350 annual premium .....what's going on?!? I find it so confusing as to whether I'm entering details in the quote screens correctly or whether it's simply that we are being ripped off!

Also our renewl letter says that the price included the current insurance premium tax rate. I can't see any mention of that on the quotes I've got on the website - should that be listed seperately?

Thanks for any advice!

ACG

Comparison sites presume a lot of information. They also may not offer what you requested.

Your current policy may have some differences between the new quote, however companies are usually cheaper in the first year and then bump it up in year 2.

In short, if you want to know the differences you need to read through the policy documents. But bare in mind you probably get what you pay for.

A £250 policy is unlikely to offer as many benefits as one that is close to £1000.

thriftytwosome

We had a renewal from our home insurance which we thought was high, not anything like yours though, so tried the comparison sites entering the same information regarding the cover as on the renewal and then rang our insurers to see if they could give a lower quote, which they did after we told them of the lower quotes we had had. They reduced their renewal by £120, so worth giving it a try.
Good luck.

dwsjarcmcd

ACG wrote: »

A £250 policy is unlikely to offer as many benefits as one that is close to £1000.

Possibly but depends who you bought from. Many of the policies sold by Banks and Building Societies are priced to include massive commissions and often include cover that many who have these policies probably don't need.

The question is whether the £250 policy covers what you need/want.

dunstonh

Possibly but depends who you bought from. Many of the policies sold by Banks and Building Societies are priced to include massive commissions and often include cover that many who have these policies probably don't need.

Also typical of banks and building societies was to set the policy up with maximum cover. i.e. accidental damage, personal possessions etc. A frequent "mis-sale" many years ago, which they got away with, was the direct companies quoting lower quality products with options left off and comparing them as like for like against what was held.

So, whilst you expect the bank or building society to be more expensive, A different of £750 should put you on guard that you may not be comparing like for like. It could be if the previous plan is very old but I would want to be sure the details are correct and cover is like for like.