Home Insurance (With Lodgers)

[jaizan]

I thought there were some new rules restricting insurers from quoting low to win business, then excessively jacking up the premium at renewal time?
However, LV have increased my home insurance by 49% from the initial quote to renewal.
I have never made a home insurance claim, so there should be no material change from my side.

I find home insurance is very inconvenient. I have lodgers, so the number of insurers is limited.
Then certain providers have unreasonable conditions, such as requiring me to inform them every time the number of people in the house changes. I just expect to insure the worst case condition and be done with it.

[mutantpoodle]

I thought there were some new rules restricting insurers from quoting low to win business, then excessively jacking up the premium at renewal time?
However, LV have increased my home insurance by 49% from the initial quote to renewal.
I have never made a home insurance claim, so there should be no material change from my side.

I find home insurance is very inconvenient. I have lodgers, so the number of insurers is limited.
Then certain providers have unreasonable conditions, such as requiring me to inform them every time the number of people in the house changes. I just expect to insure the worst case condition and be done with it.

try AVIVA..((NOT))) .30 years no claims (not all at AVIVA) 40% increase last year and now wanting 35% more.........they claim to be customer friendly

not renewed obviously

[the0ni0nking]

ISTR Morethan might be quite good with lodgers - I'm fairly sure it's a question as part of the homeowner script so might be worth putting the data in online and seeing if they come back with something better.

[Niksen]

I thought there were some new rules restricting insurers from quoting low to win business, then excessively jacking up the premium at renewal time?

Not quite.

The new rule is that they cannot quote you a higher price on renewal than they would quote someone new who is the same risk as you, and (and this is the important bit) that is being quoted through the same route as you took on the policy.

Thus if you paid £500 when you took on the policy via a phone call to them, and now were quoting £1,000 on renewal then that is absolutely fine if they are quoting someone who phoned them up £1,000 as a new quote.

However the same 'route' means that they are free to quote someone new via their website £750, someone via a comparison site £500, someone coming through one of their other named companies £1,250, etc.

What it all means is that doing a comparison on renewal is still worthwhile.

[jaizan]

try AVIVA..((NOT))) .30 years no claims (not all at AVIVA) 40% increase last year and now wanting 35% more.........they claim to be customer friendly

I was with Aviva for years and left them when they suddenly tried jacking up my premium for no obvious reason.

[LucasMorro]

Sorry to hear about the hefty increase from LV – that's a tough pill to swallow, especially when you've been claim-free. And don't even get me started on the headache of finding coverage with lodgers. It's like insurers forget that real life happens and people actually share living spaces. I totally get where you're coming from with wanting to just insure for the worst-case scenario and be done with it. Who has the time or energy to constantly update insurers on every little change? As for renters insurance companies, have you looked into the best renters insurance companies out there? Sometimes they offer more flexible options that might better suit your situation.