written by on 18/05/2017
Half way through the second year of our insurance policy and we notify Home Protect that we're having an extension built. Following extensive Q&A, we're then told that our annual insurance premium will increase by more than 100%.
Explained there must be some mistake, reiterated that we're still resident during the work and that the entrance to our house was bricked up (so more secure than any back door). Also provided a copy of the Builders insurance (£1m+ public liability) etc. which all fell on deaf ears. The reason - it's not us, it's the underwriters who set the premium...
So, my options - accept a £500+ increase in my annual premium with significant exclusions to the original policy (so much less cover) or Home Protect will involve a cancelation of my policy, effectively black listing me against any form of insurance in future.
So, I call the underwriters, who also offer home insurance and guess what... I can take out an insurance policy with them. Wait for it... for less than I was previously paying Home Protect (£3+ p/month). AND, they do not impose increases on insurance premiums when a policy holder is undertaking building work / renovations.
A very quick call back to Home Protect and as of tonight, I am an ex-Home Protect policy holder. Never, ever again...