So a NI couple have been quoted £99,999 to renew their home insurance policy and when challenged the company said it was an error as they wouldn't be offering them a new policy at all.
I've been advised that they won't renew mine either.
Another household name sent out letters offering policies for as little as £175 but when I've gone through the online application I've been told they aren't able to provide a quote. When I rang customer service and quoted my unique code the call was ended as soon as I gave them my NI postcode.
A third insurer are advising on their website that they are no longer providing quotes to new or existing customers and are redirecting to someone else.
On a comparison website the only companies I've ever heard of are looking twice what I paid last year.
What's going on? Is this all over the news? |
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"So a NI couple have been quoted £99,999 to renew their home insurance policy and when challenged the company said it was an error as they wouldn't be offering them a new policy at all.
I've been advised that they won't renew mine either.
Another household name sent out letters offering policies for as little as £175 but when I've gone through the online application I've been told they aren't able to provide a quote. When I rang customer service and quoted my unique code the call was ended as soon as I gave them my NI postcode.
A third insurer are advising on their website that they are no longer providing quotes to new or existing customers and are redirecting to someone else.
On a comparison website the only companies I've ever heard of are looking twice what I paid last year.
What's going on? Is this all over the news? "
Last year we had a letter from our car insurance company LV at the time, they could no longer offer us insurance on our make and model of car due to the amount of claims.
This is to do with keyless entry something that millions of Toyota and Lexus owners have! |
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"That's ridiculous. 🤯 Do you know if the gouging is limited to NI? "
That was my first thought but then I saw the company who said they are not offering quotes to anyone, new or existing for home insurance. They still have options for car and pet insurance but I didn't check if they were available. |
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By (user no longer on site) 14 weeks ago
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Working in car insurance myself (albeit with no pricing experience in my role) it’s a common theme I’m hearing and down to so many factors. Some plausible and logical others non sensical.
Saw the OPs item in the news and that just screamed complete and utter non sensical bureaucracy ang stupidity on that insurers behalf |
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The couple who received the ridiculous quote said they assumed the follow up correspondence denying them a quote at all was because they had made a claim for damage caused by Storm Eowyn.
I've never made a claim on any insurance policy, home or car and the notification I received weeks before the renewal date said it was because of an underwriting review.
I found it strange that one company no longer provides home insurance but is happy to recommend another company on their website.
It looks like the pool of providers is getting shallower which will allow them to increase premiums even further. |
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I assume that they are trying to pull out of the market and are just trying to set prices so that no one insures with them?
I would guess the market is not profitable - probably because of claims costs - and they have had enough. |
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