Buildings/Contents Insurance

[blackbirdxx]

Hi,
I made quite a large claim back in March 2018 following damage caused by a burst water pipe. 2 years later this claim is not fully sorted due to snagging etc. During this time my insurance policy price has crept up which I fully expected. In fact, every year since this accident my policy has increased by appx £150. It now stands at around £650 from the original £150 for both Buildings and Contents insurance.
My policy comes up for renewal in April this year and I'm wondering if there is any benefit in staying with this insurance company as my claim was over 2 years ago now and it isn't fully sorted. I've recently received quotes of between £200 and £300 with competing insurers taking into account my large claim. Problem is, I still don't know what the exact final claim value is as its still dragging on. In the circumstances, for the sake of obtaining a quote, I approximated a figure.
Anyway, whats the consensus?? Should I stay with my current insurerer or should I move to a cheaper one. Is there any benefit in staying with a claim still outstanding??
Thanking you all in advance...

 

[conny]

I don't think you are obliged to stay with the same insurer if your policy is due for renewal and you can find a cheaper one, even while a claim is still unsettled.
There must be an answer on Google if you type in your 'simplified' question.
Something like, "Can I renew my insurance with another provider if I am in the middle of a claim?"

 

[Doug99]

As long as you declare that you have yet to settle the claim, you should still be able to seek a new provider.

 

[securespark]

They need a good kick up the @ rse.

https://www.which.co.uk/consumer-rights/advice/how-to-complain-about-your-insurance-provider

 

[KenGMac]

blackbirdxx, good evening.

OK I work for [various] Insurers, Via Loss Adjusting and Surveying Companies.

The general overriding "principle" is that all parties, including the Insurer must act in utmost good faith. [a basic premise of the Insurance Contract] in your case because your insurer has "accepted" your insurance Claim then the Insurer must conclude that claim and get you back to a [so called] Pre-Loss Condition. Which includes the property and the Contents.

How about you consider informing your Insurer to "price match" the new Insurance quotes you have obtained?? The one thing Insurers hate is to loose Customers? Or to be really cheeky ask them to pay an uplift on the funds that you are still waiting to be paid, along the lines of Mis-Sold PPI?

As an aside, I am the Secretary for a club that I am a member of, there was a break in we lost [as I recall] about £ 3,000 worth of kit, an Insurance claim was made, before a settlement was agreed with this original Insurer our Broker changed Insurers? The claim was settled in full by the original Insurer with whom we were originally insured.

Ken.

 

[^woody^]

Should I stay with my current insurerer or should I move to a cheaper one

Why would you not want to move to cheaper insurance if the cover is the same?

 

[blackbirdxx]

Good info Ken, thanks