Why are Insurance Policies Going Up?

D

Dace69

Registered User
Messages
27
Can anybody explain to me why insurance premiums are going up when everything else is coming down? I have a Serious Illness Policy & Income Continuance also & the premiums for both are increasing. I'm seriously considering not bothering index linking them or would this be a bad idea? Thanks for your help.
 
If you requested indexation on your policies at the outset, they will index-link annually as per your request. You can usually stop the indexation if you want, although if you stop it, you may not be permitted to add it again later. Check this with your provider.
 
I just got my home insurance renewal and it is almost double! I paid 333 last year and this year they want 592. Obviously they indexed the cover for inflation etc which I will be reducing seeing as the rebuild cost has come down but that price is seriously crazy. I have started looking at the online quotes and most of the insurance companies are in the 400-600 bracket. FBD seem to be the cheapest so far. Ironic as I left them last year for being uncompetitive!!
 
Try 123.ie for your house ins. I got a great rate and not much more from the previous year.
 
I have noticed there was an increase in the government levy on insurance from the 1st june. there seems to be an extra 1% levy added
 
I have a large flat roof extention which some insurers have a problem with. Limits things a little. I will do a proper trawl at the weekend when I have more time. Thanks for the tip off though.
 
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