NU Home(building) Insurance

capate

I recently received my house (building) insurance renewal from Norwich Union Direct, £126.00 for £105,450 sum insured (basic policy - no extras)

I do check each year that the cost is market competitive and today found:

Norwich Union Online £94 for £500,000 sum insured (for the same policy as above - I’ve spoken to them) thats a 34% mark-up to the existing customer - so much for loyalty!

Halifax Online - £118 for and an end terrace and £80 for a semi-detached - why would there be such a large difference ( a 47% mark-up) and what is the significant difference?

Any thoughts?
Steve

kiwichick

Steve, meant to reply then but pressed thanks instead

We have our H&C with RIAS, they do specialise on insurance for older people, 50+ but take on younger ones too - I am 25.

Our H&C for a 3 bed mid terrace in the SE is £226 annually, that includes the £2.00 per month they charge me for the privilage of paying by DD. Have since read an article by MSE that says you should pay for they whole lot in one go even if it is on a CC as the interest rate on this wont be as much as you are charged for the DD payments. INTERESTING.

It also includes loads of add ons like legal fees, accidental damage, home emergency cover etc.

Dont know how this compares to yours but might be worth looking into?

Al.

EDIT:Forgot to say this is for £500,000 house and £30,000 contents. Now, how house is NOWHERE near that sort of amount, more like a quarter of it but I think this is their standard rate.

dunstonh

Norwich Union Online £94 for £500,000 sum insured (for the same policy as above - I’ve spoken to them) thats a 34% mark-up to the existing customer - so much for loyalty!

NU online and NU direct may two different policy pricing structures as online is cheaper than direct. Also, its possible that NU are pushing the pricing on one to buy business and not on the other. NU are known to do that quite a lot.

Halifax Online - £118 for and an end terrace and £80 for a semi-detached - why would there be such a large difference ( a 47% mark-up) and what is the significant difference?

A major incident may involve demolishing the house. A semi affects two houses. A terrace can effect a number. An end terrace should be insured as a terrace and not a semi.