pippamdm
pippamdm
Posts: 1 Newbie
Huge hike in premium for Residential and Commercial property insurance this year: approx 70%. No reason given. Has anyone else had this problem? Any ideas why premiums have gone up so wildly?
0
Comments
-
Huge hike in premium for Residential and Commercial property insurance this year: approx 70%. No reason given. Has anyone else had this problem? Any ideas why premiums have gone up so wildly?
Premiums have increased but in my experience of residential/Commercial property, generally around 5% (+ index-linking).
I guess it may depend on: claims, change in rating etc. I would recommend that you review your provider and obtain alternative quotations.
DM0 -
Agree with DM broadly. I'm advising clientd 8% to 12% inclusive of index linking (predominantly London and SE book though and less than 25% of my book is commercial.)
I know post Grenfell that some colleagues who deal with buildings that have certain types of cladding are seeing much harder rate increases though.
If you are looking to try a new broker, try the BIBA find a broker service to see if you can find someone near to you who can help.Lloyds broker working in Private Clients and Property Owners.
Looking to help and be helped.0
This discussion has been closed.
Categories
- All Categories
- 343K Banking & Borrowing
- 250K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.1K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards