SAGA Home Insurance Premium up by 90%

moorem_2

Well it was that time of the year again and the SAGA renewal notice came through.
To our horror it had jumped by nearly 90% despite NO change in circumstances, NO claims etc....
First things first - check for some comparisons then phone SAGA. SAGA explains it was because Zurich had put its premiums up... Hang on I thought I was insured through SAGA... nope - SAGA are just farming it out to Zurich. Same with Boiler cover - that was out to the AA.
Called Zurich and had the quote for roughly £200 and then called the AA and that was for around £120 = £320 per year as opposed to SAGA £650 for the year.
BIG SAVING GOING DIRECT.
SAGA is just an insurance brokerage farming the work out to other companies and raking in the money playing on the SAGA "Care for the elderly" line....

PasturesNew

You must live in a mansion, mine's a fraction of that.

InsideInsurance

Saga arent an insurer they are a broker but with their own bespoke wording. There are many "big names" that do exactly the same, in particular retail brands, eg the AA Car, Marks & Spencers Car and Post Office with the later two actually just being white labels of another broker but with their own wording.

So the AA Home policy if you check will tell you who the actual insurer is.

nobbysn*ts

Saga are appalling. I had the same, brilliant premium in year one, then a massive increase in the renewal. I can only imagine it's because their target customers are not always internet savvy,

rs65

http://www.bbc.co.uk/news/business-21717085

*Scarlett

It is fairly normal for a policy to be underwritten by an insurer other than the supplier that you bought it from.

I'm sure your previous Saga docs told you that the underwriter was Zurich.

Obviously a 90% increase is unacceptable so you have gone elsewhere which is great.

(I hope you noticed that your AA boiler cover does not appear to be directly underwritten by them but by Acromas (ACIL)!

The issue is not that a company is not directly underwriting the policy. If you are going to limit yourself to this criteria the you might miss out on a good deal.

It's just that you need to shop around if your renewal premium is not competitive.

nobbysn*ts

*Scarlett wrote: »

It is fairly normal for a policy to be underwritten by an insurer other than the supplier that you bought it from.

I'm sure your previous Saga docs told you that the underwriter was Zurich.

Obviously a 90% increase is unacceptable so you have gone elsewhere which is great.

(I hope you noticed that your AA boiler cover does not appear to be directly underwritten by them but by Acromas (ACIL)!

The issue is not that a company is not directly underwriting the policy. If you are going to limit yourself to this criteria the you might miss out on a good deal.

It's just that you need to shop around if your renewal premium is not competitive.

I think the issue is a completely unacceptable mark up, on a very specific target audience that would be less inclined to shop around, rely on the brand name, and are more vulnerable in some areas.

rudekid48

*Scarlett wrote: »

It is fairly normal for a policy to be underwritten by an insurer other than the supplier that you bought it from.

I'm sure your previous Saga docs told you that the underwriter was Zurich.

Obviously a 90% increase is unacceptable so you have gone elsewhere which is great.

(I hope you noticed that your AA boiler cover does not appear to be directly underwritten by them but by Acromas (ACIL)!

The issue is not that a company is not directly underwriting the policy. If you are going to limit yourself to this criteria the you might miss out on a good deal.

It's just that you need to shop around if your renewal premium is not competitive.

Acromas own both The AA & Saga

SimonSays

*Scarlett wrote: »

(I hope you noticed that your AA boiler cover does not appear to be directly underwritten by them but by Acromas (ACIL)!

I guess you know the AA and Acromas are owned by the same group. Acromas is the AAs underwriting arm.