AIBU?
to wonder why our house insurance has gone up 10% (no claims)
PollyPerky · 30/06/2017 09:19
Got the renewal letter. 10% increase since last year. Changed insurers last year so this would be the 2nd year with this company (JL Financial services.)
i know all insurance tends to go up but is it worth calling them to query why it's 5 x the rate of inflation?
Iambubbles86 · 30/06/2017 09:26
Major changes came in the last year particularly relating to how personal injury claims on motor claims are handled (not the fault of insurance companies BTW) meaning insurance companies are having to pay out even more on injury claims, the losses have to be recouped somewhere so its pulled back by increasing premiums across the board
wasonthelist · 30/06/2017 09:44
Some of it is due to the "tax cutting" Tory government increasing tax (as they always do)
www.bbc.co.uk/news/business-40107955
As for the "query why it's 5 x the rate of inflation?" you could try but it's a pointless comparison isn't it?
ShotsFired · 30/06/2017 09:47
@snotato I always shop around when my insurance comes up for renewal,then ask my current insurer if they can beat the lowest quote I received.they always at least match it as they don't want to lose my custom.
Why would you do all the legwork and then let your current insurer get the benefit? They have a fair chance to retain my custom by offering me their best quote first off. If they send me a stupid renewal quote, I will take my custom to the firm that wants to be more competitive for my business.
I'm certainly not going to let them chance their arm and still reward them for it! 
BarbaraofSeville · 30/06/2017 09:48
Insurance premium tax went up again on 1 June. The percentage has tripled since it was introduced - it used to be fairly trivial but now it can be quite a hefty chunk.
With insurance (and utilities and TV/mobile/broadband etc) you should shop around annually or risk paying over the odds. That's the business model these days. PITA but the alternative is that they will overcharge anyone who doesn't question prices.
Also keep an eye on elderley relatives. There has been reports on Moneybox and the like where elderly people have been paying over £1k per year for house insurance for standard 3 bed semis with not much in the way of expensive contents becasue they don't tend to have lots of gadgets or sporting equipment in low risk areas because they've just taken the renewal at face value. Particularly disgusting that it's often from companies who claim to champion older people's rights and market their services at this sector of the market.
I don't see an issue with price comparison sites really - they serve a purpose and Moneysavingexpert is a good place to find advice on using them effectively, along with pointers about other places to check that aren't on price comparison sites. I've never found cheaper outside price comparison sites BTW - Direct Line are one of the bigger ones not on there, and they've never been a good deal for me.
ShotsFired · 30/06/2017 10:13
@user1471545174 It's easier than switching.
I don't find switching notably difficult though?
And I do take exception to companies who try to take the piss, and I refuse to reward that with my hard earned money.
In my opinion, the (non-)effort of switching is more important to me than rewarding a company who will happily try to screw me over unless I take the trouble to stop them.
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