Why Did This Home Insurance Premium Jump 900%?

Imagine this: last year your home insurance was £300. This year, the renewal quote lands in your inbox and it’s over £3,000. No claims, no major changes to your property. What’s going on?

That’s exactly what happened to a 91-year-old homeowner as reported in Which?. When they queried it, the insurer blamed age and the fact they now lived alone. Both can affect risk, but do they justify a tenfold increase? Highly unlikely.

Here’s the truth: you might have been hit with what’s known in the industry as a “go away quote”. Some insurers, rather than refusing to insure you outright, will throw out a price so high they expect you to walk away. It’s not great practice, but it happens, especially when risk models change.

What should you do if it happens to you?

1. Don’t panic and don’t just accept it. Shopping around is key.

2. Comparison sites can help, but they’re not perfect. If your details mean you’re hard to match (for example, age or property type), you may need extra help.

3. Speak to a broker. They often have access to specialist insurers and can find a fair price. In this case, the homeowner secured a new policy for under £500, a far cry from £3,000.

   
   

Why this matters now

Home insurance costs have been rising across the board, driven by inflation in building costs and weather-related claims. But a 900% hike? That’s not the market average, that’s a red flag.

My advice

If you’re facing a big renewal increase, get in touch before you sign anything. As a mortgage and protection adviser, I regularly help clients review their insurance options.

I can guide you on where to look, what’s reasonable, and how to avoid overpaying.

Don’t get stung by an inflated quote. Message me if you need some help.

Your home may be repossessed if you do not keep up repayments on your mortgage. This is for information only and not financial advice. Always speak to a qualified adviser before making decisions.

Your home may be repossessed if you do not keep up repayments on your mortgage.

For Buildings & Contents Insurance we act as introducers only