Talk Morgan Forums Community The Malvern Arms House Ins. 29% up!

I got my home ins renewal with basically no changes.
The cot shout up 29% so off to visit the fat opra singer & the meerkats. Result the same or higher.
A cartel I suspect that is robbing us blind!!!

Try NFU. Our smallholders insurance (House, workshops, barns, 25 acres) went up by less than £60 to £1589 this year. They are also flipping brilliant when it comes to claims, which is a great deal more than can be said for many of the companies.

Our broker the Headley heir saved us £310 by hunting around instead of us having to bother.

None of the £200 policies suit us as we have outside the home cover for the good ladies bits and pieces so not straightforward. £1000000 buildings and £75000 contents excluding the high value bits previosly mentioned.

Sounds all too familiar John.

Excuse I got was two-fold: 'although you haven't ever claimed, claims in general are on the up due to a rise in theft and general claims due to inclement weather" and secondly, a few of the companies who used to supply home insurance, at a more reasonable price, have closed their doors or been taken over by the larger groups - the excuse being providing cost effective home/contents insurance was not lucrative and put said companies in commercial jeopardy.

Needless to say, this means the companies who are active will hike their prices up because there is now less choice in the market.

The above info came from the mouths of two brokers whom I respect and know their markets well.

I've always understood that during periods of economic hard times or recession, the number of insurance claims rises, no surprise there then.

The recent widespread and extensive floods will be hiking claims upwards, and these companies are not charities and are here to make an economic return so premiums are bound to rise in general to pay for it all. More worrying is the increasingly more restrictive covenants and exclusions entering into insurance contracts reducing the true level of cover provided. The less insurers in the market place does reduce competition but also increases the risk profile of those that do remain as they bear a proportionately greater % of the risk so unless they can reinsure and offset some of the risk, they finish up with a bigger slice of the insurance losses,

I arrange insurance for a small block of 4 flats, and post the Grenfell fire and the storm damage to roofs across the UK a few years . our premium has nearly doubled within a few years and in addition we are required to have a roof inspection every 2 years and undertake all resultant repairs within 30 days as a precondition of continued insurance. Try getting a decent roofer or builder within 30 days of being made aware of something to have the area fixed..

My daughter and son-in-law had the ground floor of their Oxfordshire cottage flooded on Sunday night.
Fortunately the damage has turned out to be not too serious.
The assessors were with them quickly, checked the damage and checked the electricity supply.
So excellent response from them.
I’m not sure of the value of the total claim, but thank goodness they had that insurance policy.

Bud
4/4 - Stanley

Mine went up from £154 to £192, my bank offered me home insurance at £564 !!!!!!

I have the CX with Aviva they wanted 803 vs the current provider at 240

Just renewed ours. £20 increase with no reduced cover and one small section with increased limit.
We have called them once about 6 years ago for a small water leak and their plumber was here within a couple of hours. No damage from the leak as it was spotted and isolated very quickly by me.
I hav3 used a local broker in the past for insuring an empty house whilst it was being sold. They found a good deal a lot cheaper than my searches for a company. Many companies don't do that cover so a lot of searching effort saved. Cost was significantly lower than what I could find.

John, worth a call to Gott & Wynne as they are brokers for all insurance types, not just vehicles & Mogs, & you get to speak to a real person