M&S Home Contents Insurance

dav8t

Hi,

I have just received my renewal offer from M&S. My policy (like for like for same cover) has increased from £322.89 to £436.20. I took the time to query the price increase with their customer service team and the explanation given was that I had made a small claim for £77 for a lost item.

I am not going to renew but I just thought I would flag this for others who might be considering taking out a policy. I did wonder if there would be an increase of some description but I presumed that any price increase would be trivial given the very low value of the claim, alas no.

For instance, it would have been cheaper for me to replace the lost item using my own funds, even using a low interest credit card than to process a claim with M&S and suffer the rather large price hike.... at which point contents insurance becomes pointless (if you intend to renew). Food for thought!

FutureGirl

If you have a £5,000 claim would you expect your premiums to rise that much? No of course you wouldn't.

Premiums are based on risk statistics. The fact you've had a claim will be taken into account, but the value of the claim usually isn't taken into account.

You could always 'buy the claim back' from the insurer, and pay them the £77. That will at least reinstate your ncd.