Home Insurance 27% increase

tjamesbo

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I was with legal and general who have been taken over by LV re my home insurance and have just had my renewal House & Contents has gone from £256 to £327 an increase of 27% i rang them up.......... no excuse...... no reasoning they dont care........ no offer of a reduction , i know inflation and power bills have gone up but 27% with everything else going on ? maybe it was a good deal for a 5 bed detached in the midlands but I'm not happy as ive now got the rigmarole of inputting all my details against a cheap quote from money supermarket etc only to find it increases once ive spent the time putting all my details in
grrrr!
 

Chrishazle

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I've just had the same experience with LV. I have buildings and contents on seperate policies with them (as well as both cars!), the building renewal last year was £171.15, this year £278.24. Quick once round comparethemeerkat, like for like policy with Aegas £107! Hope I don't have to do the same when the contents are due, as we have a number of specified items on that policy that have not been professionally valued for quite a few years - although LV have upped the value each renewal. Don't want the hassle and expense of gettingnew valuations!
 

ChrisEdu

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I wish my buildings and contents insurance was that cheap!
I'm currently with Saga, having swapped from M&S when the premium hit about £850!
Unfortunately, needing high value contents, plus a decent whack for stuff away from home, bumps up the cost. However, at least I know I'm not under insured. The trouble is, most standard policies only cover £60-70k of contents, which is laughably low.
 

ChrisHGTV

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We used to be with Hiscox as they had good bike cover, and their policy covered everything unless specified. Now with M&S as Hiscox was getting near a grand. For us it’s the pushbikes that are always a pain but M&S are pretty good. I did look at independent bike insurance once but it was laughably expensive!
 

MrGreedy

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Yeah push bike insurance on your home insurance (because that's still the cheapest way to get it) puts the good value of car insurance into perspective.
 

ChrisEdu

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We used to be with Hiscox as they had good bike cover, and their policy covered everything unless specified. Now with M&S as Hiscox was getting near a grand. For us it’s the pushbikes that are always a pain but M&S are pretty good. I did look at independent bike insurance once but it was laughably expensive!
M&S were good. Our trouble is needing a policy that covers all the bikes, watches, AV gear, camera equipment, etc, etc...
Specialist bike insurance, likewise watch insurance, is stupidly expensive.
Saga's policy is also very good though.
Other companies that I'd consider are Hiscox, NFU, and John Lewis Bespoke
 

ChrisHGTV

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Yeah push bike insurance on your home insurance (because that's still the cheapest way to get it) puts the good value of car insurance into perspective.
For sure - i had 6 bikes stolen once and it took a year to get the compensation so i really scrutinise the bike insurance part these days to make sure we're covered. Although that always comes at a cost.
 

ChrisHGTV

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M&S were good. Our trouble is needing a policy that covers all the bikes, watches, AV gear, camera equipment, etc, etc...
Specialist bike insurance, likewise watch insurance, is stupidly expensive.
Saga's policy is also very good though.
Other companies that I'd consider are Hiscox, NFU, and John Lewis Bespoke
Hiscox were good on their cover for sure, but the cost increased quite a lot year on year and they wouldn't negotiate. So i built an almost equivalent at M&S. Not that much cheaper but Hiscox not willing to negotiate put my back up! I hate trying to evaluate insurance though - that question of risk vs cost.
 

ioweddie

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Try TESCO...amazing prices for both car and house insurance
 

ChrisEdu

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Hiscox were good on their cover for sure, but the cost increased quite a lot year on year and they wouldn't negotiate. So i built an almost equivalent at M&S. Not that much cheaper but Hiscox not willing to negotiate put my back up! I hate trying to evaluate insurance though - that question of risk vs cost.
Indeed. I pulled the plug on M&S after a number of years, as their price kept creeping upwards until the point where it was getting silly. Saga came in way cheaper, although that also now creeping inevitably upwards too!😡
 

zipdip

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As always you need to shop around,I got mine this year £30 cheaper,I always go for the accidental damage which brings the quote up a little,a few years ago I nearly stopped it when we lived in a detached house at the end of a close,but decided to keep it,and my elderly next door neighbour put is Mercedes through the front lounge,with 27 grands worth of damage
 

ChrisEdu

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As always you need to shop around,I got mine this year £30 cheaper,I always go for the accidental damage which brings the quote up a little,a few years ago I nearly stopped it when we lived in a detached house at the end of a close,but decided to keep it,and my elderly next door neighbour put is Mercedes through the front lounge,with 27 grands worth of damage
And how much was the damage to your property!🤣
 

whitenemesis

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Indeed. I pulled the plug on M&S after a number of years, as their price kept creeping upwards until the point where it was getting silly. Saga came in way cheaper, although that also now creeping inevitably upwards too!😡
SAGA offer a 3yr fixed price, both on motor and home insurances :thumb:
 

l5foye

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It is interesting to reader about others' experience with house insurance. Over the past 3 years my insurance cost has gone down significantly- in fact it is cheaper than at any time in the past 40 years. I always combine building and contents insurance.
 

RonFleet

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LV increased the cost of my house insurance when the renewal was due in January. Compare the Market found me a policy with better cover through Churchill for less than last year's renewal. LV will probably lose my car insurance in September.
 

ChrisEdu

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I wonder how many people are getting sufficient cover from standard policies? Considering most policies only give 60-70k of contents, I suspect many people are under-insured
 

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