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Money supermarket has found insurance for me but is it too cheap?

(13 Posts)
Fridayschild Sun 13-Oct-13 08:10:40

I used their search engine to find new house and contents insurance and as far as I can tell I seem to have been paying twice as much as I should have been. Last year I paid £1.2k and now I am being quoted about £600. And I made a claim last year so I would have expected the price to go up.

So my question is, is this too good to be true?

As far as I can tell I have checked obvious stuff like the level of the excess, new for old cover etc.

DorrisM Sun 13-Oct-13 08:18:53

Regardless of who the provider is google reviews of them. I've just changed our car insurance which was £680 last year and got quotes as low as £250 but when I checked out the reviews of the low cost providers they were dire. I paid £400 so saved money but with an insurer with good reviews.

Fridayschild Sun 13-Oct-13 08:23:51

Now that's good advice because I have not heard of any of them. The ones I have heard of won't quote on line for them. Thanks!

fuckwittery Sun 13-Oct-13 08:28:59

1.2k sounds ridiculously high! Did you just renew last yr without price comparison? I saved this amount by renewing my great aunt's insurance for her, she'd never changed provider before and their renewal charges were scandalous, taking advantage of an old lady's loyalty I felt!
Can you ring current insurer and ask to price match or explain price difference if happy with their service?
Just check excess, and what's covered.

BlackberrySeason Sun 13-Oct-13 08:32:41

My old provider charged us 1.4k and I've just gone with London Victoria for around 600k. Endsleigh quoted us similar. What I did was, got quotes on us witch, then called round the top few which recommended providers - you can find them on google. LV hadn't come up on us witch but quoted a fab price and the policy is just as good as our old one.

17leftfeet Sun 13-Oct-13 08:33:16

What's the name of the company the have quoted you?

Some are very cheap and it is a case of you get what you pay for

hermioneweasley Sun 13-Oct-13 08:34:42

How long had you been with previous pRovider? Industry model us to do cheap first year then push up prices every year because must people don't bother to change.

Fridayschild Sun 13-Oct-13 08:37:58

Oh yes I have renewed automatically like a fool for a couple of years. However I didn't realise what a complete gullible twit this made me.

I was unhappy with the way the insurers handled my claim after I was broken into so I'd like to change insurers anyway. For example, when I rang to say I'd been burgled and my lap top had been stolen, the person on the phone suggested I email them with various details hmm.

LightasaBreeze Sun 13-Oct-13 08:54:03

We hadn't changed our insurance for years and were paying £900 buildings and contents, realised this was high and managed to get a similar insurance from same provider for about £350 when I told them I was cancelling as it was too high.

LightasaBreeze Sun 13-Oct-13 08:56:14

We had renewed automatically for years, this is how they get their money, not going to be caught like that again.

Fridayschild Sun 13-Oct-13 09:01:38

The insurers are home protect, underwritten by AXA, Endsleigh prestige and fresh insurance.

I was a bit glib earlier, I have head of AXA and Endsleigh.

CogitoErgoSometimes Sun 13-Oct-13 09:17:11

As I pay around £400/year for buildings and contents insurance for a 3-bed semi in Hertfordshire I'd say £600 sounds reasonable not knowing what size or location property you have. Check the excesses and the details about what exactly is covered to make sure you're comparing like with like.

Fridayschild Sun 13-Oct-13 09:41:39

I have a 3 bed terrace in London.

I think the quote from Home Protect, who have the least bad reviews on line, requires me to have a burglar alarm, which the current insurers do as well. This is probably due to the theft last year. I'll ring on Monday to check.

Thank you to everyone for the comments and prices!

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