Homeserve Plumbing and Drainage

tdolly

I've been using Homeserve for their plumbing and drainage plus cover. It started off reasonably but seems to have escalated rapidly over the last few years.
It's currently £162 and will renew to £192 at the end of this month.
Are there any similar products / options out there that people would recommed?
Thanks in advance

greendr2

Sorry that my information is probably too late for you.

I have a Plumbing & Drainage Plus policy and I too had noticed that my annual premium (I pay monthly), was approx £287, with zero excess.  I looked on the HomeServe website where I could see the price for the same cover, for new customers.  That price was £5 per month, which equates to £60 per year.  The price for the second year jumps to £15 per month, which equates to £180 per year, providing no claim has been made.

There was also an option for the same policy, which carried a £30 excess, priced at £1 per month (£12 per year) for the first year and £10 per month (£120 per year) for the second year, providing no claim has been made.

I went onto their Live Chat to enquire about the huge difference between what I pay and what new customers can obtain the same cover for.  Live Chat couldn't help me, but referred me to a HomeServe freephone number (0800 876 6268).

I called, explained my situation and was immediately offered the same policy at a much reduced rate.

I can't recall the figure for a zero excess policy, but I was quoted £12.50 per month (£150 per year) for a policy with a £30 excess.  On verbally agreeing to change, my original policy was cancelled immediately and the new 12 month policy  commenced.

The chap I spoke to at HomeServe was absolutely calm about everything and didn't try to up-sell me at all.  In all, it's probably the easiest 'haggle' I've ever had to do.

That call saved me £137 per year, albeit that I chose to have a policy with a £30 excess.

Having read the HomeServe literature, I could find no reference as to how they calculate the policy charge increases, year on year.  It appears to me to be random and whatever they can get away with.  Because my policy ramped up to £287 per year, I now feel guilty of not checking this on year three and subsequent years.  Lesson learned.