Is your bank ripping you off on home insurance?
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We’ve been pretty hot on the topic of banks ripping off customers on home insurance.
It’s because we keep hearing of loyal customers being bled dry by banks overcharging them for auto-renewed policies. Phillip Yarnall was a steadfast customer of Barclays for 25 years, paying £1,300 a year for his home insurance. Until the day he talked to his neighbours and discovered he could get the same cover from Direct Line for £260. Here’s another one we’ve heard recently: Nik Hegarty, from Leicestershire, was coughing-up £970 to Zurich for his house insurance. He thought the price was fair and the fact his policy auto-renewed was a bonus – it meant he didn’t have to do anything. That was until he spotted our piece on renewal rip offs. And he didn’t look back – Nik has saved £850 by voting with his wallet and ditching Zurich. “I thought that I would check what I could be paying for the same insurance on Go Compare,” he told us. “I was astonished to find that instead of the £970 I was being quoted by Zurich I could in fact get the same insurance for £120 with More than.” 
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Switch and Save
It’s a no brainer: get online, check out a price comparison site and find out what savings you can make by switching house insurance. Research shows 40% of us have been with our home insurance provider for three or more years and 13% of us have NEVER switched. You don’t owe your current provider anything, so shop around and find yourself the best deal. When you get your renewals notice through the post, ring up your provider and negotiate a better deal. Tell them you know you can get it cheaper elsewhere and will leave if they don’t climb down on cost. Plenty of insurers offer cash back deals to tempt you to switch to them. Have a look online and see which companies are ready to pay you to become their customer. It doesn’t matter who you are, the £850 Nik saved is a lot of money. |
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What could you do with £850?
Here are a few ideas for what you could do with the £850 Nik saved. European city break to Rome For £850, you could treat the family to a city break in Rome. Soak up four days and three nights in the Eternal city for £725 for two adults and two children with lastminute.com. That even leaves you with some spending money. You’ll be staying at the Starhotels Michelangelo, a four-star hotel situated a stone’s throw from the Sistine Chapel. Get a car for your 17 year old For £850 you could buy your 17 year old their first car. They won’t be cruising around in a Lamborghini, but switching insurance could save you enough to get them on the road. Have a party! Why not get all your family and friends round and celebrate the savings you’ve made with a blow-out? You can spread the good news about switching and saving. £850 could get you: * 200 packs of party rings - £100 from ASDA * 150 packs of Walkers multi-pack - £150 from Tesco * 43 bottles of Bartenura Prosecco - £600 from Sainsbury’s. How to complain about your home insurance? If you’re having a problem with your home insurance provider, or you’ve had an issue switching, we’re in your corner. Make a complaint on A Spokesman Said to publicise your case and demand action. |
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