Cost of Living - Shrinkflation is speeding up at an alarming rate

So last month it was car insurance with an increase of 46%.

This month it's the turn of the home insurance companies to fleece. The renewal notice for the house insurance has gone up 42% from £670 to £950.

No surprises that the petition to "Look into unjustifiable increase in car insurance premiums in the UK" was rejected by the government, citing it's **** all to do with them ( https://petition.parliament.uk/petitions/641465 ).

For these insurance increases we have the Competition & Markets Authority (CMA), the Financial Ombudsman Service (FOS), Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) all "looking into" the situation. I'm sure this is code for "let's have a massive party, er, meeting at swanky hotel and scratch each other's backs".

If this type of premium increase become the norm and acceptable can I expect a premium of £1,350 next year?

Corporate greed, pure and simple.
 
How is home insurance worth it?

In the 17 years I have lived here i got burgled and lost phones with an estimated value of around £700, however i did get the more valuable phone back, fortunate but got it back via my nephew texting the phone.

I then got a quote from a home insurance website (this was years ago so will be much higher now) and it was close to £100 month. Lets say it was 7 years ago so after a decade of living here.

I would have paid circa 12 grand to claim back £700 stolen phones. I also bet there would have been a clause to wiggle out of it, excesses etc.
 
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Iamzod said:
Ketchup is basically ketchup, however brown sauce is another matter.

If it's not HP it's basically a waste of time, I even used to carry a bottle of HP in my glove box.
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I decided to boycott HP sauce when they moved production of "Houses of Parliament" sauce to the Netherlands. Wilkin and Son's brown sauce is now the preferred choice, Tracklements also do good sauce.
 
chrcoluk said:
How is home insurance worth it?

In the 17 years I have lived here i got burgled and lost phones with an estimated value of around £700, however i did get the more valuable phone back, fortunate but got it back via my nephew texting the phone.

I then got a quote from a home insurance website (this was years ago so will be much higher now) and it was close to £100 month. Lets say it was 7 years ago so after a decade of living here.

I would have paid circa 12 grand to claim back £700 stolen phones. I also bet there would have been a clause to wiggle out of it, excesses etc.
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You will find a lot of mortgage lenders have a condition that the home is insured (buildings only) if you have a mortgage with them.

What do you do if you don't have house insurance and your mortgaged to the hilt home burns down?
 
chrcoluk said:
How is home insurance worth it?

In the 17 years I have lived here i got burgled and lost phones with an estimated value of around £700, however i did get the more valuable phone back, fortunate but got it back via my nephew texting the phone.

I then got a quote from a home insurance website (this was years ago so will be much higher now) and it was close to £100 month. Lets say it was 7 years ago so after a decade of living here.

I would have paid circa 12 grand to claim back £700 stolen phones. I also bet there would have been a clause to wiggle out of it, excesses etc.
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£100/month for home insurance? Where are you getting your insurance?

We pay like £150 a year for buildings and contents, not including accidental damage.

House insurance is like the no brainer cheapest insurance you’ll ever get.
 
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cheesefest said:
Mr Kipling makes exceedingly good cakes but they are exceedingly bloody expensive. Anyone paying £3.90 for 8 minuscule slices of cake must be mad.

I bought some reduced to 20p at work the other day and couldn’t believe the original price!
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Exceedingly dry cakes these days I've noticed, so bad I don't bother any more.
 
Richie said:
You will find a lot of mortgage lenders have a condition that the home is insured (buildings only) if you have a mortgage with them.

What do you do if you don't have house insurance and your mortgaged to the hilt home burns down?
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Apologies I got confused with contents insurance, two different things, of course home insurance is typically a requirement. So discard my post, pretend it isnt there lol.
 
b0rn2sk8 said:
£100/month for home insurance? Where are you getting your insurance?

We pay like £150 a year for buildings and contents, not including accidental damage.

House insurance is like the no brainer cheapest insurance you’ll ever get.
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Well I meant contents insurance, sorry. But yeah in my area its high, I assume because it has a high rate of claims.

If you tell me the company you use I dont mind asking for a quote, but I be very surprised if its anywhere near £150 a year.
 
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chrcoluk said:
Well I meant contents insurance, sorry. But yeah in my area its high, I assume because it has a high rate of claims.

If you tell me the company you use I dont mind asking for a quote, but I be very surprised if its anywhere near £150 a year.
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I think the problem is that in many areas the police simply don’t care about burglaries or thefts to the point where they no longer take any steps to prevent or investigate them.

They basically don’t see it as something that should be their job. They just leave folk to take the hit and fight it out with insurance companies which has sent policy prices in many neighbourhoods spiralling in recent years.
 
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silvagti said:
I think the problem is that in many areas the police simply don’t care about burglaries or thefts to the point where they no longer take any steps to prevent or investigate them.

They basically don’t see it as something that should be their job. They just leave folk to take the hit and fight it out with insurance companies which has sent policy prices in many neighbourhoods spiralling in recent years.
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Yeah I was about to post something about that.

When I reported to the police at the very least I was expecting them to check the camera footage which covers my street, but the attitude seemed in line with in that they thought I was just reporting it to get a claims number for easy money from my insurance company. After a lot of pushing I got them to take swabs from the door handle but not much else happened. When my nephew agreed a return of the phone, I thought the police would jump on it, but they were just like go and pick it up yourself.

My sister however had a totally different attitude from them, she tracked her stolen ipad, and the police escorted her to the address to collect it, she thinks because they consider female's more vulnerable, but I suspect because she lives in a better area, they treated her more seriously.
 
silvagti said:
I think the problem is that in many areas the police simply don’t care about burglaries or thefts to the point where they no longer take any steps to prevent or investigate them.

They basically don’t see it as something that should be their job. They just leave folk to take the hit and fight it out with insurance companies which has sent policy prices in many neighbourhoods spiralling in recent years.
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I know first hand how you can scam someone out of £5,000 and get away with it. Local fella is up to just over £20,000 now. In my mind that's either straight theft or fraud but it seems that's not technically the case.

I've been emailing someone from CID, and rather cheekly asked if I did it would I be treated the same (ie, get away with it). Just waiting for a reply.
 
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chrcoluk said:
How is home insurance worth it?

In the 17 years I have lived here i got burgled and lost phones with an estimated value of around £700, however i did get the more valuable phone back, fortunate but got it back via my nephew texting the phone.

I then got a quote from a home insurance website (this was years ago so will be much higher now) and it was close to £100 month. Lets say it was 7 years ago so after a decade of living here.

I would have paid circa 12 grand to claim back £700 stolen phones. I also bet there would have been a clause to wiggle out of it, excesses etc.
Click to expand...

Do you live in Bakhmut?
 
Well since there is curiosity, I filled in form on confused.com, although didnt register on the site (so they might ignore it), I felt the form was already doing enough data harvesting (needing my phone number e.g. for a quote), it also made an assumption I already have insurance and on the existing months of no claims question was no option for dont currently have insurance. So I selected the longest duration for lowest possible quote.

The other time i got a quote I only had very basic questions and my address to fill in with no personal details needed.
 
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chrcoluk said:
Well since there is curiosity, I filled in form on confused.com, although didnt register on the site (so they might ignore it), I felt the form was already doing enough data harvesting (needing my phone number e.g. for a quote), it also made an assumption I already have insurance and on the existing months of no claims question was no option for dont currently have insurance. So I selected the longest duration for lowest possible quote.

The other time i got a quote I only had very basic questions and my address to fill in with no personal details needed.
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Just fill it in using junk name, address, contact details etc.

If there's a deal you actually want to get, then of course you'll need to do it again, but using your real details when just 'browsing' is madness!
 
NotAGolf said:
Just fill it in using junk name, address, contact details etc.

If there's a deal you actually want to get, then of course you'll need to do it again, but using your real details when just 'browsing' is madness!
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Well have to use real postcode as I think the address is likely the biggest impact on the quote. But yeah I did use fake phone number. I already get enough spam calls.

But anyway I have had had no quotes emailed to me, maybe they wanted me to actually register, which I am not going to do.

Uswitch has the exact same form as confused, same pixel to pixel layout, questions etc, they owned by same company?

Ok I got one from AXA (they asked for email, but wasnt needed as instant quote, so more data harvesting).

To be fair much cheaper than that previous quote I had £210 which I assume is for the year (one off price as they said monthly requires a credit agreement with interest). They also sensibly had a no previous insurance on the no claims question.

Still dont think its worth it, but at least not a completely ridiculous quote this time.
 
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