Home insurance quotes for this year seem to have gone crazy!

anotherquestion

Hi folks,

Home insurance both buildings and content are to be renewed near end of April. Currently with Tesco bank, last years prices were under £200, I had my details with both Confused and Moneysupermarket so I have just let them do a quote for coming year. I did have one claim in 2016 but that is over five years now, and it never seemed to affect the insurance premium in following years

Over £500 with Tesco bank with all the rest more expensive for the coming year. I live in N Ireland house value is about £180k

Has home insurance prices gone crazy this year or what is going on.

Thanks for any advice o n this.

user1977

In short, yes - look at the rest of the forum.

TheGardener

...you think that's bad...my pet insurance has more than doubled and now costs more than my car insurance!!

anotherquestion

Thanks, The thought has crossed my mind to just get building insurance only, which would cover any major disaster and would reduce the premium to £352.

I know contents can be expensive to replace but most of my contents could be considered well used anyways.

Opinions on this option.

Thanks.

dunstonh

last years prices were under £200

So, in the scheme of things, you are not really a profitable customer for many insurers (borderline)

 I did have one claim in 2016 but that is over five years now, and it never seemed to affect the insurance premium in following years

So, really not a profitable customer (most people go through life never having claimed).  

Has home insurance prices gone crazy this year or what is going on.

No, not crazy.  Just reflects the reality of Covid (supply lines), inflationary pressures and higher than typical claims (drought year followed by very wet one).

Flugelhorn

mine is due at the end of the month and the quotes have gone up from £150 to £180 so not too bad

Martyn_H

Flugelhorn said:

mine is due at the end of the month and the quotes have gone up from £150 to £180 so not too bad

May I ask who you're insured with?

Flugelhorn

HomeProtect - quote was via comparison website - they aren't the cheapest this year, seems the Post Office can do me a better deal

anotherquestion

Will see what the renewal is when Tesco send it out to me, maybe will be lower than comparison site, I take it that getting a quote through a comparison site, doesn't affect the renewal quote that the insurer gives, or is there a chance it does?

Thanks.

Flugelhorn

anotherquestion said:

Will see what the renewal is when Tesco send it out to me, maybe will be lower than comparison site, I take it that getting a quote through a comparison site, doesn't affect the renewal quote that the insurer gives, or is there a chance it does?

Thanks.

I used to reckon that it sometimes meant that the current provider was a bit more competitive as they may know you have been looking. But that may not be the case - definitely worth hunting round

DullGreyGuy

Flugelhorn said:

anotherquestion said:

Will see what the renewal is when Tesco send it out to me, maybe will be lower than comparison site, I take it that getting a quote through a comparison site, doesn't affect the renewal quote that the insurer gives, or is there a chance it does?

Thanks.

I used to reckon that it sometimes meant that the current provider was a bit more competitive as they may know you have been looking. But that may not be the case - definitely worth hunting round

Your current insurer used to be a bit more expensive as someone had to fund the big discounts offered to new customers but that practice was banned a couple of years ago for Home and Car