Home Insurance Renewal

[Paultry]

We have been with Halifax home insurance for four years, renewal time mid October, we pay monthly so the two direct debits qualify for the £3 monthly cashback on the bank account.

Yesterday I enquired about the policy renewal, buildings & contents last year was £226.99, this year the quote was ££265.65

I mentioned that I have been inundated with offers from Santander, Barclays, AXA and etc..

The £265.65 then became £217.83 which I accepted over the phone.

But this morning I filled in the AXA application form and was quoted £99.83 for what appears to be the same cover.

I anticipated it would be less, but not half the price. Is this a typical experience for Lemonfools? Paul

[didds]

Obviously the premium will depend on size of building and rebuild cost etc etc... but even while it seems to me B&C insurabnce has been coming down in recent years, nonetheless £99 seems very cheap.

Are you within the 14 day cool of period? If so you could cancel and get the £99 quote.

didds

[Loup321]

I have a 3 bed semi (so you can gauge how similar the quote should be), in a town on the London/Kent border. It's about £130-£140 for combined buildings and contents from Direct Line. Quotes range from just under £130 to well over £400 for pretty much the same cover. I select one just a bit up from the cheapest that has a good cashback offer.

At just over £200, I would say that was a bit high. Halifax have never been competitive in quoting for me (I do get a quote from them every year because I have their Reward Current Account). I would think £99 was a bit too low though, but your house will probably differ from mine, unles you are one of my neighbours.

[YeadonLad]

Just sorted out the home insurance for my parents - I've recently taken over running Dad's affairs since he has dementia.

Quote from Wesleyan (using Aviva) was £404.
Checked Aviva on-line and for similar insurance quoted £136 (OK the excess has gone from £100 to £200), agreed with Mum that we would take this.
Wesleyan then wrote stating that they had renewed the policy for the next year and would Dad please send then payment within seven days (Dad paid by cheque). For some reason the price was then quoted as £329 (was the £75 difference Wesleyan's commission?).
Rang Wesleyan to make sure they cancelled the policy - they wanted Dad to confirm that it was OK for then to speak to me. Told then that he wouldn't understand anymore but it was only when I pointed out that they wouldn't be getting paid that they decided they would cancel.

[Alaric]

It's about £130-£140 for combined buildings and contents from Direct Line.

Direct Line comes in a number of guises. I have house cover with Nationwide which is supposedly underwritten by a company named UK Insurance. I believe this is either a Direct Line subsidiary or marketing name, the give-aways being that the style of the schedule is the same as for my motor insurance which is through Direct Line as itself and the renewal or policy schedule came through the post in a Direct Line envelope.

You can certainly arbitrage them by changing the marketing provider and becoming a "new" client. If you have a problem with their attitude to claim settlement, you may not have escaped if you notionally change provider.

[Clitheroekid]

I have house cover with Nationwide which is supposedly underwritten by a company named UK Insurance. I believe this is either a Direct Line subsidiary or marketing name, the give-aways being that the style of the schedule is the same as for my motor insurance which is through Direct Line as itself and the renewal or policy schedule came through the post in a Direct Line envelope.

Direct Line is just a brand name. Its general insurance policies are underwritten by UK Insurance Limited.

[Alaric]

Direct Line is just a brand name.

It's a bit more than that. The quoted Company is Direct Line Insurance Group PLC.

The small print for Direct Line branded motor insurance does say "underwritten by UK Insurance Limited".

I reckon it competes with itself quite a bit where what seems an in house offering by Nationwide or the Natwest is actually Direct Line's in house company.