Hoiuse insurance increase with NFU

Brilley

Hi all, first time post on this area of the forum.
Every year the usual "battle" with house insurance annual renewal.

Many years ago had our insurance with Barclays as they provided the mortgage so seemed logical, (pre internet).

Many years later suddenly realised they had been putting the price up every year and I was paying probably "double" what I could have been paying so changed provider ASAP. Roll on a good few years and now check every year until we "found" NFU". Brill, they offered a 5 year "no increases" policy.

OK it was more than I could have paid but they have a good reputation and not having to mess about each year for 5 years really appealed. 2 years in and they are now advising a 15% increase?

When I questioned this "it is because house build and contents have gone up", (fair enough but the figures they quote suggest about 2% in line with inflation).

When advised that I had only signed up originally based on "no increases for five years" they now deny this statement.

To be fair I have no problem with an inflationary increase and I understand that with all the recent disasters there costs may well have gone up, but I also think a "no increase commitment" should mean that?

(NB for a guide Compare the market prices are suggesting I could get cover for around £100, NFU are now asking for £250...time to move?

MEM62

Brilley wrote: »

When advised that I had only signed up originally based on "no increases for five years" they now deny this statement.

What do you have in writing to support your claim? That will be the key to making your argument.

Brilley

...diddly squat, which I know leaves me "exposed", but it was this particular conversation that persuaded me to spend more than I needed to to go with them for five years.

If this had not been stated I would have used a lower cost provider and put up with the usual annual "showdown"...

csgohan4

loyalty doesn't pay, always shop around, as you do for your utilities

nick74

I think you may have misunderstood what the offer was.

I used to have home insurance with NFU and the arrangement was that if you committed to renewing with them for a certain number of years they would give you a fixed % discount off the premium each year for that period. There was nothing to say that the premiums would be fixed for that time, and in fact they did used to increase each year, albeit with a percentage discount then taken off.

Brilley

..ta for the replies. Ref the above comment, it is more likely that they used the wrong terminology to explain it. Again the only reason I went with them at a higher price than everybody else was quoting was because I was told the prices would not go up each year, so I remember thinking "fix at a higher price" but at least I can budget the same for the next 5 years.

Interestingly I have now started to look elsewhere and Saga are offering a "fixed" 3 year deal, (at less money for the same cover)...so it may be a bit of a no brainer to move anyway!

nick74

Perhaps it was badly explained to you at the time.

I used to find NFU Mutual's premiums very reasonable, and the long term discount was an added bonus, but then it seemed they began increasing their premiums way above inflation a few years ago. It reached the point where they were quoting me around three times more than anyone else and I thought enough was enough. It's a shame because they were generally a nice organisation to deal with, but not at that price.

Brilley

nick74 wrote: »

Perhaps it was badly explained to you at the time.

I used to find NFU Mutual's premiums very reasonable, and the long term discount was an added bonus, but then it seemed they began increasing their premiums way above inflation a few years ago. It reached the point where they were quoting me around three times more than anyone else and I thought enough was enough. It's a shame because they were generally a nice organisation to deal with, but not at that price.

..who did you change to?

nick74

I'm currently with Sun Life but did use Esure for a few years in the intervening period.

I had my car insurance with NFU at one point too, mainly because I wanted 'any driver' cover and they were the only insurers who would offer it at a sensible premium. That too crept up in price though, and even after restricting it to named drivers they were more expensive than anyone else so I switched that to Direct Line.

Dangermac

csgohan4 wrote: »

loyalty doesn't pay, always shop around, as you do for your utilities

I dont agree that loyalty does not pay. Loyalty can have a value.

Too wide a subject to discuss in a single post.

But it is absolutely incorrect to say that loyalty has no value at all.

DM