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

Discussion in 'CycleChat Cafe' started by Dave7, 18 Mar 2018.

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  1. Dave7

    Dave7 Guru

    Location:
    Cheshire
    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
     
  2. accountantpete

    accountantpete Legendary Member

    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.
     
  3. welsh dragon

    welsh dragon a permanent vacancy now exists

    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.
     
    classic33 likes this.
  4. Drago

    Drago Guru

    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
     
    raleighnut, classic33 and Dave7 like this.
  5. OP
    OP
    Dave7

    Dave7 Guru

    Location:
    Cheshire
    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.
     
  6. midlife

    midlife Veteran

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

    numbnuts Legendary Member

    Location:
    North Baddesley
    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
     
    Drago likes this.
  8. OP
    OP
    Dave7

    Dave7 Guru

    Location:
    Cheshire
    I should have made that clear......its house and contents.
     
    midlife likes this.
  9. midlife

    midlife Veteran

    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.
     
    Dave7 likes this.
  10. Paulus

    Paulus Getting older by the minute

    Location:
    Barnet,
    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.
     
    Dave7 and keithmac like this.
  11. PaulSB

    PaulSB Legendary Member

    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.
     
    numbnuts likes this.
  12. whiskywheels

    whiskywheels Guest

    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.
     
  13. slowmotion

    slowmotion Quite dreadful

    Location:
    lost somewhere
    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.
     
    Dave7 likes this.
  14. Beebo

    Beebo Firm and Fruity

    Location:
    Hexleybeef
    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.
     
  15. screenman

    screenman Legendary Member

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