Home Insurance 2022

[Itsmedoctortea]

I couldn't find a thread for this but mods feel free to delete and merge if there is, thanks

So i have received my home insurance renewal for the incoming year and my premium is now going to be £998.12 which works out at approx £83 per month - an increase from 2021 of £66 overall, not massive i know.
Our policy was set up by our Mortgage Advisor at the time of our house purchase and i know it is a very good policy (going by everything that's included)
We are in a 4 bed, 3 reception detached house, semi rural and a couple of outbuildings (NI)
Hoping for some feedback as to what others are paying, is this fairly average or am i paying too much??
Thanks x

 

[Snowjoke]

I couldn't find a thread for this but mods feel free to delete and merge if there is, thanks

So i have received my home insurance renewal for the incoming year and my premium is now going to be £998.12 which works out at approx £83 per month - an increase from 2021 of £66 overall, not massive i know.
Our policy was set up by our Mortgage Advisor at the time of our house purchase and i know it is a very good policy (going by everything that's included)
We are in a 4 bed, 3 reception detached house, semi rural and a couple of outbuildings (NI)
Hoping for some feedback as to what others are paying, is this fairly average or am i paying too much??
Thanks x

That does seem expensive but it very much depends on what your covered for, rebuild values, contents value, any all risks or specified items, cover for outbuildings etc… it would also be based off postcode etc too so comparing to another persons premium wouldn’t really be of any benefit being honest.

What you could do is shop around for like for like cover and see if you can get it cheaper elsewhere. Or even contact your current insurer and see if they will give you any discount. They normally can give a renewal discount to try to retain your custom

 

[Itsmedoctortea]

Thank you so much for your reply @Snowjoke i will give them a call and also do a wee shop around

 

[Snowjoke]

Thank you so much for your reply @Snowjoke i will give them a call and also do a wee shop around

I know it’s bold but if you say you have a cheaper quote elsewhere for the same cover they will normally give some money off

 

[Itsmedoctortea]

I know it’s bold but if you say you have a cheaper quote elsewhere for the same cover they will normally give some money off

Defo worth a shot

 

[Former_Antelopee]

Can I ask a question about this sorry to jump in I was looking at home insurance and found it weird that it was cheaper to pay monthly rather than a one off payment? As with car insurance it’s the opposite? Is this normal?

 

[Itsmedoctortea]

Can I ask a question about this sorry to jump in I was looking at home insurance and found it weird that it was cheaper to pay monthly rather than a one off payment? As with car insurance it’s the opposite? Is this normal?

Really? I never noticed, strange isn't it. Yes everything is normally more when paid off monthly

 

[Snowjoke]

Can I ask a question about this sorry to jump in I was looking at home insurance and found it weird that it was cheaper to pay monthly rather than a one off payment? As with car insurance it’s the opposite? Is this normal?

That’s random! Normally it’s the opposite lol

 

[Former_Antelopee]

Really? I never noticed, strange isn't it. Yes everything is normally more when paid off monthly

It wasn’t much difference maybe like £20 but I thought it’s usually the opposite way

 

[Jellybean79]

If you get your quote from a mortgage advisor or an insurance broker you’ll be paying commission too. It’s cheaper to go direct to the insurance companies themselves. There were new rules bought in by the FCA at the beginning of the year that insurance companies (for certain insurances including home) can’t charge more for a renewal than a new customer, but this means that new business prices have gone up! It’s worth looking at things like TopCashBack for offers too to help save some money, you just might have to wait a bit for any cashback.

 

[Definitelyme]

We have 4 bed, 2 reception room and are semi rural also in NI, ours was £250 this year (that was with approx £100 of discount to due to using the building society we have accounts with).

 

[JoeBloggs]

I would say that’s expensive, it’ll include commission.

I would certainly look around, we went with direct line premium, it’s unlimited rebuild cost. We pay £250 ish a year for a 3 bed in a semi rural village in Surrey, UK.

 

[Itsmedoctortea]

Thanks all defo will be pricing around, didn't realise they would be getting commission on home insurance but I do know they are getting commission on our life insurance policies - which are another bane of my life so many bills!

 

[jharpz]

For what its worth, Direct Line offer discount if you have more than one product with them. I have both car and home insurance with them and pay £21/month for a 3 bed townhouse in NI

 

[Itsmedoctortea]

Just an update on this thread, i shopped around a got a much cheaper quote from Halifax with the same level of coverage £408 for the year!!!!
To say i'm delighted is an understatement, just annoyed i let it renew each year and could have been paying a lot less the past 6 years

 

[Snowjoke]

I’m

Just an update on this thread, i shopped around a got a much cheaper quote from Halifax with the same level of coverage £408 for the year!!!!
To say i'm delighted is an understatement, just annoyed i let it renew each year and could have been paying a lot less the past 6 years

Im so glad you got a cheaper quote sorted