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    Home insurance bombshell with record rise in premiums by almost double
    United Kingdom

    Home insurance bombshell with record rise in premiums by almost double

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    26 Comments

    1. Status_Record_8220 on

      A friend told me that her premium had more than doubled this year. Mines not due for renewal until the next few months, so I’m not looking forward to it.

      It seems that insurance companies are still using the global supply chain excuse to push premiums up.

      I’m keen to find out what their profits are going to look like over the next year.

    3. daiwilly on

      Are we now waking up to the realities of Global warming? More claims due to flood, wind, heat and erosion. We all pay the price eventually!

    4. Equivalent_Pay_8931 on

      “extreme weather events partly to blame.” Sure thing buddy whatever you say. Profiteering.

    6. rustynoodle3891 on

      Mine went up 48% and that was enough for me to consider reducing coverage, but I’m sure the moment I did something would happen that wasn’t covered.

    7. urfavouriteredditor on

      My insurer put mine up by £200. Got another quote on a price comparison site and got it down by £200 vs last years cost.

      Its almost too good to be true. But I’m checking the details and everything looks to be correct.

    8. Disastrous-Yak230 on

      and everybody will roll over and pay it because it makes them feel “safer”

      that is, until you actually need to use the insurance.

      haha

    9. BartholomewKnightIII on

      We’re being fleeced, I wonder at what point we’ll do something about it.

    10. PolarPeely26 on

      Doubled is very extreme but build costs have gone up by about 40% over the last 3 years. A year on year doubling is just stupid though. What is going on in this country…

    11. sammmooo on

      I swear all of this is due to that container ship blocking the Suez Canal a few years ago. Ever since then insurance prices have continued to rise as insurance companies claim back all that they had to pay out at that time.

      Honestly a racket but what can you do? Not get house insurance?

    12. Beer-Milkshakes on

      Our home insurance went up by 40 pound this year. And we utilised our right to legal action for a shitty porch that wasn’t built completely or competently. Their elected legal team decided it wasn’t profitable to take our case to court and dropped it. Despite admitting that we had proper cause to bring our case before a court. Not profitable.

    13. bukkakekeke on

      The business of mandatory insurance has to be the biggest gravy train going.

    14. ollielite on

      Bit ignorant, but can we opt out of home insurance, or is it like car insurance and a legal requirement to have?

    16. 7inky on

      I guess a lot of houses have been getting into the road traffic collisions and the mechanical parts just gotten very expensive.

      Wankers.

    17. Ryanthelion1 on

      My motorbike insurance tripled rang up to figure out why and even though theft is down the increase in fixing bikes has gone up increasing premiums on average 50%, couldn’t explain why that meant my premium was going up 300%

    18. shadowed_siren on

      It’s only a matter of time before one day our wages increase to keep up with all these payments, right? Right?

    19. amarrly on

      Insurance is a scam these days, it needs tougher regulations. It has started to effect every aspect of our lives.

    20. paul_h on

      I heard some theory about electric cars being more expensive to repair if you hit them. As a personal observation our street in Edinburgh has ppl doing 50mpg at times if they can get away with it, since about 2021. It’s a 30 zone. Edinburgh is taking down speed cameras soon.

    21. r3xomega on

      “Wait, but i’ve never made a claim and my car is older than it was when i last renewed, why is it going up….again?!”

      “That’s just how it is at the moment sir i’m afraid”

    22. virindimaster on

      If car insurance is doing the same, I probably picked a really shit time to get 3 points for speeding then!

    23. shanep92 on

      I was with esure, they wanted almost double this year, i compared and I got it less than half what I paid last year. Nothing but a scam – they probably got rid of half their costs too as to actually speak to anything but a chat bot is impossible with esure. No matter how many buttons you mash together on the “automated” line and the “ automated” chat bot

    24. tomoldbury on

      Mine went from £140 per year to £320 per year, I was shocked. 4 bed detached, ~£340k valuation. Most of the increase is due to buildings changes – the contents-only quotes were barely changed. I’d imagine the shortfall in trades is a problem. No claims, shopped around.