DIYbanter - View Single Post - House insurance

Sam Plusnet

In article ,
says...

Renewal came in from my house insurer that I've been with for perhaps 25
years. Never made a claim of any sort.

I'm happy enough to chop and change insurers with the cars - but do prefer
to have a history with something as valuable as a house. I could replace
the car if it got totalled and no insurance, but not the house.

I'd noted down what I paid last year - both the original amount and the
actual premium after getting their 'loyalty' discount. Which was
substantial.

This renewal was some 8% higher than last year's full amount.

So I phones them up. Asked the very pleasant bloke to look at what I'd
paid last year. And the figure he had was the high quote - not the amount
I'd actually paid after discount.

After simply saying their price was way out of line with all of the
comparison sites, he reduced the premium by over a third to almost exactly
what I'd paid last year. Still quite a bit higher than I could have paid
with a different company, but I decided on balance to stay with them.

Depends how you look at it.

An insurer does its best to rip off its existing long-term customers.
However, if you jump up & down they will drop the premium just enough to
keep you with them.

Some customers pay the inflated price & increase their profits.
Other customers haggle & get (roughly) the going rate.
Win-win for the insurers who go in for sharp practice.

--
Sam