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Insurers banned from charging more for renewals but Homeserve???


https://www.moneysavingexpert.com/news/2021/05/-insurers-banned-charging-existing-customers-more--new--loyalty-/

This change came into effect on 1st January I think, so why can Homeserve - which is just an insurer - charge £18 a month for the first year, then £48 a month from year two?

https://www.homeserve.com/uk/insurance/heating-plumbing-electrics-plus-cover-service-xs1?aboutyou=true


Comments

  • Farway
    Farway Posts: 14,156 Forumite
    Part of the Furniture 10,000 Posts Homepage Hero Name Dropper
    You are comparing apples with oranges.
    However you are free to pay £48 per month for the first year if you feel strongly that new customers should not get a discont to previous customers
    Eight out of ten owners who expressed a preference said their cats preferred other peoples gardens
  • Sandtree
    Sandtree Posts: 10,628 Forumite
    10,000 Posts Fourth Anniversary Name Dropper
    As the article you linked to, the new rules apply to Home and Motor not all classes of insurance.

    Whilst not the case here, many similar things are also structure to be a service plan/warranty and not legally insurance which will be the other route to avoid the issue should the rules be broadened to other classes.
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