Massive Increase in Home Insurance

Mannion

Future Girl is the only one who read my comments and a tually pro ided ANY useful advice

Nasqueron

Mannion wrote: »

Great some intelligent relevant posts. Thankyou. Now we really are getting to the specifics of the problem. Auto renewing in itself isnt the issue. Its when providrers use it with impunity to hike premiums up by astonishing completely unjustifiable levels. Thats where the vulnerable get hit thats whats morally bankrupt and THAT and THAT ALONE is what Im complaining about

The problem is that you are using words with no legal meaning:

"astonishing completely unjustifiable levels"

There has been no court case or legal ruling that says insurers can't ramp up premiums, nor do they have to justify them. Indeed, there does not need to be as the comparison sites help you avoid it. Costs go up, insurance premium tax was increased, updated figures for accidents/crimes in your area are factored in.

The simple thing is to either ring up and ask for a price match or move providers

enjoyyourshoes

With any insurance, pay for the premium as a one off annual fee, don't get seduced by monthly payments as the pesky blighters charge you high interest charges.
Once you have done that produce a cash flow with all your annual, 1/4ly and half yearly charges and calculate what you need to stash away each month to meet these future costs. Then stick that in the highest interest account you can find and benefit from compound interest.
Review the calculations every time you get a insurance (etc) renewal and change the monthly saving plan.
Write in diary one month before each premium up for renewal, and read MSE web on rentals and try to get a better deal.
Good luck.

[Deleted User]

Any thread where an OP is posting repeatedly without any replies and also name-calling is to be avoided.
Once again, do not feed. The thread is long past due moderator intervention.

tomtontom

Moneyineptitude wrote: »

All I will add now is "do not feed"….

But how will all those poor, unfortunate vulnerables ever survive without mouthpieces like the OP? :eek:

Faith177

Mannion wrote: »

Great some intelligent relevant posts. Thankyou. Now we really are getting to the specifics of the problem. Auto renewing in itself isnt the issue. Its when providrers use it with impunity to hike premiums up by astonishing completely unjustifiable levels. Thats where the vulnerable get hit thats whats morally bankrupt and THAT and THAT ALONE is what Im complaining about

As mentioned before an insurer can charge what they like for a risk after all it's them that will lose if they have to pay you out. It's up to you to say no to the price if you don't like it, if you don't then you pay extra it really is that simple

The FOS will not look into complaints regarding pricing as it is the insurer's discretion to price their products based on their statistics and claims history for the risk that's why some insurers are cheaper than others it keeps the market competitive

I can't believe that you are so busy that you can't look for alternatives. You don't even really need the internet just a phone and the yellow pages and most of the big insurers have adverts with numbers on via a variety of medias

Mannion

I have never said auto renew should not he available. I dont even have a problem with autorenew myself unless it is cynically flouted In the specific context I am referring to with ludicrous price hikes it could never be said to benefit the vulnerable
Please READ my comments and answer the specifics not just generic related queries

Mannion

I meant disabled in the context of being unable to check premium increases. Please dont twist my words. I didnt respond because I really havent the time to answer so many unhelpful comments. Im writing this on my phone walking between buildings at work
Lets have brief crack shall we All the software industries I have worked in Digital Credential managemnt aerospace automotive and clincal trials are intensively regulated and auditted If the siftware oer procedures do not meet with thousands of strict criteria the cinsequences for the company would be devestating
The insurance industry can maje wildky unjustifiable price increases with absolutely no confirmed agreement (look up that word in the dictionary it might help) Even if they ate proved wrong throughbthe hard work and effort of the complainant the ONLY penakty is to reimburse part of the overcharging (look that up too)
An equivalent doftware misdemeanor would result in the company filding completely. That is why they can behave with such an immoral code of conduct That is my definition of a REAL lack of regulation no consequences

Mannion

Not bad with big fingers at a brisk walk Id say 8)

Mannion

Ineptitude Im not the only on posting repeatedly. Im getting some useful replies (now) and I havent resorted to name calling
Could it be that now Im getting some advice which you couldnt come up with you want to pull the plug?

TomTomTomTomTom You asked me to reply Now that I have you have resorted to sarcastic digs. Was the answer too comprehensive perhaps?

If you can put forward a reasoned statement or argument then do but less of the snide remarks and accusations thankyou
Edit: Actually you two You havent helped at all and Ive had quite a few useful helpful replies (thanks sent guys) so could you stop posting please. It was my query, my problem and all you seemed to do was take some sick pleasure at my obvious discomfort. I dont normally mix with such people. Please dont force me to endure that severe displeasure now)