Home Home Insurance renewal Quote up 60%

ranger

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Hi,

Just received my home Insurance renewal quote from my broker(insured via RSA) and the have vey kindly put my premium up by almost 60%. Last year I paid €465 this year €737. I've been living in my home for 7 years and never had a claim. How can these people get away with this practice? I've even reduced my building costs by 30K and left contents the same as last year roughly 40% of rebuilding and my premium is increasing. I am going to be quite selfish here and say "I don't care if somebody over the other side of the country got flooded last year" (my sympathies) but I shouldn't have to pay for it!!!!! After all if anything ever happens to my home and I do have to make a claim MY premium will increase the following year without fail.
Anyway, I've been doing bit of research on the net and I found a company that will do my insurance for €432.17. My advice to people out there is Don't accept the first quote shop around. It's the only way to teach these insurance companies a lesson.

Ranger
 
I always shop around before I accept the renewal quote. Last year the quote was outrageously high but the competitors didn't do much better. When I called my current insurance company they asked me a couple of questions e.g. do you live near a river (no), the sea (no) and then I got it reduced to what I wanted (price I found acceptable).
 
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