WOW - 67% increase on home insurance

chocolatekimmy

I've just had my renewal quote from Admiral - a 67% increase on last years policy cost.   No claims, no changes.  

After contacting them they've offered some 'discount' meaning its now 'only' a 51% increase.  Apparently its inflation and the cost of everything going up.  I did mention inflation isn't that high.

Any recommendations for experience with good insurers to switch too (whilst I'm doing some comparisons)?

MorningcoffeeIV

chocolatekimmy said:

Any recommendations for experience with good insurers to switch too (whilst I'm doing some comparisons)?

Go for one that not only gives an acceptable premium, but also one that provides the cover you need.

Cheap insurance can end up being worthless.

DullGreyGuy

chocolatekimmy said:

I've just had my renewal quote from Admiral - a 67% increase on last years policy cost.   No claims, no changes.  

After contacting them they've offered some 'discount' meaning its now 'only' a 51% increase.  Apparently its inflation and the cost of everything going up.  I did mention inflation isn't that high.

Any recommendations for experience with good insurers to switch too (whilst I'm doing some comparisons)?

Average inflation isn't that high but inflation isn't uniform. The problem is that its been combined with a couple of years of hot dry summers (subsidence claims) and cold wet winters (storm, flood claims) whereas insurers hope to have one or the other rather than both. That said, most are seeing smaller increases than that for Home, Motor is at that sort of increase on average. 

As to recommendations... what attracts you to Admiral's offshore based Home Insurance? 

Are you wanting cheap and cheerful or wanting a full fat product and willing to pay the price for it?

Really, just do quotes on the aggregators, look at those that don't play on the aggregators and find your sweet spot of quality and price. 

GrubbyGirl_2

I've been with John Lewis for home insurance for 20+ years and always found them competitive.  This year they changed the underwriter.  I've just had my policy renewal which I confess is the all singing and dancing policy, unlimited everything, and it has gone up 50%.  I have now renewed with Direct Line with their top policy for £60 less than my current policy and £270 less that JL wanted.  So much for loyalty, but I'm not crawling to them for a discount, they've lost my business

DullGreyGuy

GrubbyGirl_2 said:
I've just had my policy renewal which I confess is the all singing and dancing policy, unlimited everything, and it has gone up 50%.  

They are far from unlimited everything... £40k valuables, £10k business equipment, £1,000 cash, £5,000 garage/outbuilding content and not full matching set cover. May be enough for most people but far from unlimited everything.  

chocolatekimmy

Thanks for the replies.  I've had Admiral Platinum cover - I've never chased the cheapest at all.  

RavingMad

Been with Aviva for 10 years and policy has gone from £150 last year to £200. Quick comparison and the cheapest is £194.
I chase the cheapest that fits my needs.