House insurance costs.........there must be some logic in the variations but ??

[Dave7]

So mine is up for renewal. I have 2 bikes specified but no other high value items.
3 years ago we were broken into and my bikes stolen. £3K claim was quickly settled.
As expected, the next year the cost went up and again the following year. But this year it has gone up again, quite a lot.
When I phoned them I was told it has nothing to do with us (as they don't take notice of claims over 3 years ago) but it could be a spate of crime in the area which puts all premiums up.
Now........
My brother lives in North Wales. His house is worth a lot more than mine. Like me he includes legal assistance but he has no high value items and..........................
his premium is £70 less then mine. (he is with Halifax).
So.................
I went on the Halifax web site and started to put my detail in. I got as far as the 2nd page when a note was flagged up..........."sorry but we cannot offer you insurance". Obviously no explanations.
I then went on a comparison web site and after what seemed like hours of answering a million questions I got...............
Best price virtually what my present insurer is asking
Worst price....some £500.00 more expensive
So, apart from moving house It looks like I am stuck with high premiums

 

[accountantpete]

Ours is £99 a year but it's a relatively crime free area of South Cheshire.

Let's face it - apart from Crime and subsidence/flooding it's a licence to print money, so that must be the reason.

 

[welsh dragon]

Maybe he lives in an area where crime is lower. Higher crime area = higher risk to the insurer = higher premium.

There are other factors as well, an example of which is above. It won't be just 1 thing that effects your premium and makes a differance between you and someone else.

 

[Drago]

Check the police website. You'll soon see if crime is up or not. My car insurers trotted that one out to me once - I went back to them with the data showing autocrime had gone down, and without demur they restored my premiums to their old level

This guff about 'risk' isn't based on any real science or research, but is simply a justification to screw more money out of people

 

[Dave7]

Ours is £99 a year but it's a relatively crime free area of South Cheshire.

Let's face it - apart from Crime and subsidence/flooding it's a licence to print money, so that must be the reason.

Ours is £320:00. One of the questions is........do you live with 150 metres of water. I have to put yes even though it is a stream which mainly trickles about 3" deep.

 

[midlife]

I guess we are talking contents and not "bricks and mortar". I think mine is about £114.

 

[numbnuts]

Mine is contents only with the AA it's the only one I could find that would insure my stuff (bikes kayaks fishing gear ect) in the garage, because it is 100 yards away from my property and it is £177 this year

 

[Dave7]

I guess we are talking contents and not "bricks and mortar". I think mine is about £114.

I should have made that clear......its house and contents.

 

[midlife]

I have house and contents split, the house is Naf West and the contents through a broker called Whytes. It worked out cheaper that way.

 

[Paulus]

I have always used Direct Line, and it is only this year I have realised just how much they are ripping me off. A search on Compare the Meerkat has shown me I can get the same cover for less than half the price. This is with reputable companies.

 

[PaulSB]

Mine is contents only with the AA it's the only one I could find that would insure my stuff (bikes kayaks fishing gear ect) in the garage, because it is 100 yards away from my property and it is £177 this year

Just for reference I have the same issue though my garage is further away. Hastings Direct gave me cover at a very reasonable cost. They class it separately, i.e. it’s not part of my house, as a garden outbuilding but cover the garage and contents under the same policy.

I had a long conversation and an email to confirm the cover as it surprised me.

 

[User269]

So mine is up for renewal. I have 2 bikes specified but no other high value items.
3 years ago we were broken into and my bikes stolen. £3K claim was quickly settled.
As expected, the next year the cost went up and again the following year. But this year it has gone up again, quite a lot.
When I phoned them I was told it has nothing to do with us (as they don't take notice of claims over 3 years ago) but it could be a spate of crime in the area which puts all premiums up.
Now........
My brother lives in North Wales. His house is worth a lot more than mine. Like me he includes legal assistance but he has no high value items and..........................
his premium is £70 less then mine. (he is with Halifax).
So.................
I went on the Halifax web site and started to put my detail in. I got as far as the 2nd page when a note was flagged up..........."sorry but we cannot offer you insurance". Obviously no explanations.
I then went on a comparison web site and after what seemed like hours of answering a million questions I got...............
Best price virtually what my present insurer is asking
Worst price....some £500.00 more expensive
So, apart from moving house It looks like I am stuck with high premiums

Never auto renew insurance. Use gocompare, moneysupermarket & other search engines to obtain a new quote each year, as suggested by @Paulus. Try it out and let us know what you find.

 

[slowmotion]

Ecclesiastical Insurance and the NFU are worth trying. My mother's place in Cornwall has a tidal creek four yards from the front door. That gets some insurance companies over-exercised, others are completely relaxed about it. You just have to shop around every year.

 

[Beebo]

Remember that all insurance policies are not the same.
A more expensive policy will usually offer better and wider cover with fewer penalties.
The cheapest policy will be cheap for a reason.

 

[screenman]

Ours for both is £500 a year. Due to having some customers coming to the house we are limited to who will insure us.