Furious - home insurance

[clpsmum]

So angry. Just did an online quote for buildings and contents cover. Policy with lower excesses etc than my current policy. Best deal was with my current provider but for the better policy it is a whopping £700 a year LESS than I currently pay. So annoyed I've been ripped off for so long 😡😡😡

Do you not check every year?

They don't force you to buy it. It's up to you to shop around.

Blimey, how much is your house insurance if you got a quote for £700 a year less?!?! We pay about £200 a year I think!

Did you get it from an agent? They get paid a commission based on your premium, so they'll try to sell you the most expensive policy they can.

That's a lot of money.

wow, we've never paid more than £150. That includes a couple of claims over the years.

My own stupid fault for not checking. I had a quote for £154 and am currently paying £885!!!! It's in with my mortgage so stupid as it sounds I've never really thought until now to check! Lesson learned!

Yes, they rip you off if you don’t shop around. Didn't you think to check a lot earlier if it kept going up year on year.

Insurance simply doesn't cost £885 per year if you live in a normal house without significant extra risks like flooding.

@BarbaraofSevillle no didn't think to check any sooner tbh. Stbxh always dealt with it. Don't even k ow if it's gone up or always been that as it was in with mortgage. Only now Im paying it I'm going through everything. No flood risk and never claimed!

Change every year. There is no reward for loyalty.

I change mine every year, pay approx £100 for house contents & building insurance

@babysharkah Exactly this.

Oh dear, in with your mortgage, says it all. Never mind, you're in control now.

If you're going through everything you need the moneysavingexpert money makeover and their weekly email for a systematic way to review your finances and regular reminders to check what you're paying.

Basically you have to check everything at least once a year or so and be prepared to swap or else they will rip you off. Tedious, but it really makes a difference in making your money go further.

Just wanted to thank you op, you have just saved me £600!

My home insurance was also 'in' with my mortgage and was fucking astronomical - I just thought that was the going rate for these things.

I have wasted so much money and we have been struggling so much financially for years.

However, I'm not going to dwell but celebrate my new financial awakening and look at all my other direct debits to see where else I can save.

at least you know now. I pay less than £100 and I'm next to a river that floods.

@MrsBobDylan glad to be of service

I had this with Breakdown cover. I just renewed with the AA every year until i was paying £35 a month. I'm so angry with myself about it!! Never again.

Arh never get your insurance with the mortgage its a con!!! Just increases the commission income for the broker or lender. Always cheaper separately

We had this with our life insurance and critical illness cover. Our broker sold us this 'great deal' that would as she put it 'cost less than a coffee every day!!' When we got home and proudly announced that we'd signed up for a whopping £230 a month our family laughed we now pay £80 a month with Vitality and we both get a free coffee once a week through them. Like you I was none the wiser!