My home insurance renewal has gone up loads.

[CormorantStrikesBack]

So have had insurance over 20 years and have never claimed. The renewal came through from nationwide, previously paid just over £400 for house and contents and it’s gone up to £685.

did a compare the market and actually increased the amount of contents cover and still got quotes of £540.

Rang nationwide up expecting some bartering to occur and he said the only thing he can do to make it cheaper is reduce the amount of cover. So I cancelled. Why the massive leap this year? Another inflation/cost of living/cost of building materials benefit?

Are other people getting increased quotes?

All our insurances went up, but we shopped around and were able to get better deals elsewhere

That’s good, i certainly couldn’t get anything comparable to last years price. I knew people were saying car insurance had shot up, oddly mine didn’t. But hadn’t realised it was house insurance as well.

I’ve been shopping around to renew my home and contents insurance, and for the same cover the cheapest I can find is £525, was £400 last year. Luckily I’d been putting extra aside in case of an increase, but it was a shock how much it’s gone up. More than 30% feels like someone is extracting the Michael.

Insurance costs have increased overall. Pricing depends on the insurers claims as a whole and their reinsurance costs. The cost of materials has gone through the roof together with labour costs. This all reflects on the rates that are charged overall by the insurer. Best thing is to shop around, ensure you are not under insured and the alternative quotes give you the cover you require rather than just looking at the price. Don’t be tempted to under insure as in the event of a claim this could impact the insurer paying out for the loss.

Mine was nearly 400% higher, despite no claims!

Snap! My nationwide insurance renewal quote has gone up from £600 to over £950!

I'll be shopping around in the next 3 weeks for sure. Absolute joke

Come on op stop being so unreasonable. How’s the CEO going to get his big bonus if people like you stop paying overinflated prices?

You’re right, I’m sorry 😁

We only pay our contents insurance as we’re leasehold and it actually went down a smudge this year (gentrification I think) but the buildings insurance paid through our service charge has gone up about 25%. It’s tripled since pre-pandemic.

Welcome to 2024. All insurance premiums have rocketed. Insurance inflation is running at 25% (last time I checked), and I had a 300% increase on a vehicle policy renewal this year (no change in circumstance, no claims).

You definitely need to be ringing around. Find a proper High St broker, they'll usually beat the so-called direct insurers and the comparison websites for value.

I paid £200 last year for both. Hope it stays in this ballpark…