Reducing home insurance bill?

OneOfThem Stumbled

Has anybody had any success in reducing their premium or altering any details concerning their insurance with their current insurers? I would consider moving, given the current (in my opinion very expensive) insurance, but am concerned by the prospect of changing to a "cheap" insurer who will either go into liquidation or sell insurance that would prove almost impossible to claim from if ever required! :eek:

dahamsta

The only way to reduce your insurance with your current supplier is to reduce your premium. Have you calculated the current value of your property? Adjusted your contents values?

rameire

cost to re-instate not value.
you need to check the reinstatement cost as every insurer increases this on the policy every year.
it is not the same as the value of the property. ( it includes the cost of clearing and rebuilding a property)

dahamsta

I use the "Guide to House Rebuilding Costs" from the Society of Chartered Surveyors of Ireland every year, from here:

http://www.scsi.ie/publications/digital_publications

flower tattoo

I raised my excess when I renewed. That lowered the quote but obviously it will hit me if I need to make a claim.

dudara

Moved to Banking & Insurance & Pensions

dudara

oldyouth

dahamsta wrote: »

The only way to reduce your insurance with your current supplier is to reduce your premium.

Anyway, apart from reviewing your sum insured to reflect current reinstatement value, there are a number of ways to maximise discounts.

Have you smoke detectors and, if so, have you told your insurers?
Do you have a burglar alarm?
Has the daytime occupancy of your house changed? Perhaps someone is in the house more regularily during the day than they were before.
Are you over 50? Insurers discount for this
Increase the policy excess.
If your contract is one where Contents cover is automatically calculated (say 40% of Buildings sum insured), it may be more economical to switch to another one of their products that has a stated sum insured

nohow

you should shop around every year to get new customer discounts,make sure you get like for like.you should also chck out your life ins.a good broker will serch the markets for you.

dahamsta

oldyouth wrote: »

It was pretty clear from the remainder of my post that you went out of your way to delete from your quote than I was referring to values, pedant. You seem to spend an inordinate amount of time following me around Boards nitpicking my posts, do you like the shape of my arse or something?

/ignore

oldyouth

dahamsta wrote: »

It was pretty clear from the remainder of my post that you went out of your way to delete from your quote than I was referring to values, pedant. You seem to spend an inordinate amount of time following me around Boards nitpicking my posts, do you like the shape of my arse or something?

/ignore

Don't flatter yourself. I post here more than any other forum because I feel, having spent 32 years in the business, that I might sometimes be able to assist. The line I quoted in your post made no sense whatsover and the 2nd line referred to the current value of the property, which has nothing to do with insurance and could have led the OP down the wrong path

Your subsequent post referring the OP to the SCSI for a rebuild cost was good advice. You don't see me disagreeing with you anywhere on that do you?

Biglad

We received our renewel quote at the start of December as per usual and paid little attention to it, again as per usual. Next thing my wife notices during some online banking that our premium went up from around 64 to nearly 103.00 Euro!!

A quick call with our financial institution resulted in somebody explaining that there were several claims made "from our area", although none by us, and that for that reason the premium had gone up...

We were then offered a 30% discount...what a load of bollix...

oldyouth

Biglad wrote: »

We received our renewel quote at the start of December as per usual and paid little attention to it, again as per usual. Next thing my wife notices during some online banking that our premium went up from around 64 to nearly 103.00 Euro!!

A quick call with our financial institution resulted in somebody explaining that there were several claims made "from our area", although none by us, and that for that reason the premium had gone up...

We were then offered a 30% discount...what a load of bollix...

There are lazy insurers/brokers out there. Discounts and alternative companies are always available. However, if you don't question them, you can often pay the price. Shouldn't be that way, but it can happen