Home Insurance Renewal - Whats extras are worth it?

IAMIAM

Ive noticed my quotes are ridiculous now compared to last year, I normally change every year but have everything included (Home Emergency Cover, Legal Cover, Accidental on Both Buildings and Contents). I definitely use the home emergency cover every year, but are the other extras actually worth it?

My premiums are going from £125 this year all in (Esure) to around £225 the cheapest all in with various other companies. Thoughts?

Sandtree

New customer discounts have been banned... price rises for those shopping about were predicted.

Accidental damage is one of the most claimed on sections and can cover more things than people think about... depending on exact wording there are times when damage to a roof or plumbing isnt covered due to various clauses however the resultant damage from water ingress etc can be picked up under AD cover.

Personally much more likely to use a legal advice line once a year than a home emergency policy and solicitors charge more per hour than plumbers (and it doesnt count as a claim that has to be declared)

It all ultimately comes down to your personal needs... in our old place we had an expensive kitchen with several elements that no longer are made so for us matching set cover and accidental damage were both really important. Drop a pan coming out the oven and smash the oven door, damage the unit door below and a floor tile and we would want the oven,steam oven and warming draw all to be replaced as they were a matching set of items, are stacked and visually coherent... same with the floor tiles and unit door, dont want one patch of mismatched tiles or one odd door.

If your kitchen is cheap and cheerful and you intend to replace it in 12 months then maybe you wouldnt claim at all so no need to pay for the bells and whistles

dunstonh

I normally change every year 

And that is why you are noticing the difference.  Early year discounting (new customer discounting) is now banned.

So, previously, you were getting large discounts which usually meant the insurer was suffering a loss on those.   They would then increase the premiums of those that renewed to cross-subsidise your discount.    That was considered unfair and resulted in the majority paying more.  So, the regulated has banned it.

Things should settle down on the pricing soon but at the moment, the providers are having to make guesses on the impact of the changes on their business model.