Insurance - are they all going up this year again?

I have this theory that a lot of competitive insurance offers, such as your Homeserve, come with pre-forecast increases to promote business, although of course you wouldn't know it. When I paid my mortgage off, I went with Saga for Contents and Buildings Insurance as they were undoubtedly competitive. The next year the premium rose out of recognition. I transferred to HSBC as another competitive deal and sure enough, that rose dramatically the next year. This year I have gone to Aviva Direct who again were competitive even though they were not the cheapest.

Insurance costs have become victims of the recession it seems and sad to say, I do believe that insurance companies have jumped on that 'corporate greed bandwagon' just like our dear utility providers.

When I worked as a Prudential agent, premiums rose dramatically from year to year and I kept business based on 'service' and 'quality of the product'. That simply doesn't work nowadays and people buy on premium competitiveness. The trouble is, you have no idea of the 'quality' of the cover provided until you make a claim and that's when the haggling starts!

You are quite right Snoopy. Anyway they can keep their insurance as I have now cancelled it. You watch they will come back now with an even better offer - we shall wait and see.

I would generally agree with Snoopy except I was surprised to find that when I renewed my buildings and contents cover, my current providers Sheila's Wheels and M&S Money were the most competitive for my requirments. Maybe this was just a one off,as I have moved every year for car insuarnce in the last 14 years that I have been driving. I will find out next year if my home insuarnce from current providers will still be still competitive.

one thing to no though, especially when comparing quotes from the coparison sites. There always seems to be quotes which are cheaper, but when you find out more they are not always suited for your needs.

It's a bit different with this Insurance because it's Yorkshire Water and
it's their pipework and their own insurance on it and I don't think any other insurance company would insure the pipework outside.

Yes to car insurance,yes to home contents and buildings insurance and any other insurance. Insurance is becoming more and more like legalised theft.

Hi Sabre. I have also noticed all insurances have increased! I have british gas homecare and i also had a burst boiler in dec (boiler only over 2 years old) anyway they offered me water pipe insurance from outside my property to the main water supply for an extra £2 a month and last year it was £12 a year!! So it has doubled up here but i can't believe it increasing by x5!! I would investigate that futher.