Home insurance 22% up

DullGreyGuy

Lookz4Dealz said:

Hi, another question is, do I need home insurance?, obv I would like to but its shot up from £9pm, to £12pm, to £19pm, then last year £23pm now £30pm, Ive never made a claim, my house is on a hill so no floods for me etc, built 20 years ago and have had zero issues, so what if I just did'nt get insurance until it goes to a resanable price again?? I would only claim if my home fell down, everything else I would just fix myself, plumbing , electrics etc, I tried to push the max voluntary and mandatory I would pay to see if that took the price down and it didn't move at it.

Do you have a mortgage? If you do then almost certainly you are required to have buildings insurance. 

If you dont have a mortgage then you are free not to insure if you dont want to, if however you are struggling to afford the £30/month for insurance how will you afford the £211,000 to rebuild the house if the worst happens (average rebuild cost in the UK 2021)?

Mandatory excess isnt in your control, changing the voluntary excess will typically change the premiums but not always how you would expect. Some will get cheaper quotes with a £0 excess than £300. Many will get cheaper quotes with a £300 excess than a £3,000. The combined effects of negative selection and amount of insurers offering those options. 

dunstonh

, Ive never made a claim, my house 

as said by anyone who has claimed on their home insurance for the first time.

Annemos

We had always considered that we lived in a nice quite area. Until an Arsonist went on the rampage due to Personality Disorder issues! 

The house behind me was very badly damaged. All the inside had to be redone and the whole roof replaced. 

Policewoman said: "now you realise that this type of thing can happen to anyone". 

(I could also drone on for hours about Subsidence which can also happen to a home.)

vacheron

Lookz4Dealz said:

…my house is on a hill so no floods for me etc, built 20 years ago and have had zero issues,

Our street is also well elevated, and our houses about 25-30 years old, but that didn’t stop the 140 litre thermal store in the loft of my neighbour’s house from springing a leak while he was away on holiday.

Long story short, the leak soaked into the plywood base that the thermal store was sitting on in the loft. this caused the wood to soften and eventually the entire thermal store (basically a large hot water tank) fell through the softened plywood, through the roof of his bedroom, through his bed (that he would otherwise have been sleeping in) and embedded itself in his bedroom floor.

The pipes in the loft, having been torn free from the thermal store then proceeded to spray mains pressure water through the new hole in his loft for two further days until he returned home and opened his door to 5 or 6 inches of water right throughout his ground floor!

He didn’t think that would happen to him either….  but he was insured!

Grockleman

I switched to Admiral in February 2024 after years with Nationwide. They had increased my home insurance to over £300 from £256.
Did a comparison and decided on Admiral for £176.86p with the same cover, as nationwide refused to budge on their quote.
I've just had my first renewal with Admiral and they quoted £197.78p. So I went on their online chat, and managed to receive a £13.84p discount. so my insurance price is now only an increase of £7.08p pa, which I'm quite happy with.
Found Admiral very easy to deal with so far.