Our Insurance Prices,
Below are the factors we consider before setting your insurance price.
How we work out the price of your product
Our products are designed to be affordable to our customers, priced fairly and provide choice of cover and price.
You could choose a cheaper ‘boiler only’ insurance cover with a £95 excess, or our most complete cover, Home Care including Boiler Service, with no excess. This would cost more but give more peace of mind, as repair costs can be significant without the protection of insurance.
We want you to have the chance to try our products and customer service, so we’ll often provide price discounts, a free boiler service or maybe both.
What Your Product Covers
Our “boiler only” products will cost you less than our more complete “home care” products which include heating, plumbing, drainage and more.
Your Chosen Excess
You could choose a product with no excess. This would usually have a higher price than if you’d chosen a product with an excess. If you choose a £95 excess, your monthly price will be lower.
We don’t charge you more if you want to pay monthly and this will help you to spread the cost over the 12-month length of your agreement.
Why might the price of your product change next year?
First we should explain that we are authorised and regulated by the FCA. Like other FCA regulated firms, we stick to rules so the price you pay is fair. In 2023 the FCA introduced a new Consumer Duty. This means our products must be easy to understand, meet your needs, support you when needed, have a fair price and offer good value.
When your product renews the introductory offers you may have received when you joined us, will no longer apply.
Claims and the Cost of Claims
We expect a certain number of claims each year and expect them to cost, on average, a certain amount. If there are more claims (maybe due to very cold weather) or costs go up (inflation) then we may need to put up prices.
If you ask us to change your product (for example, you choose a different excess or different cover) then your price will change. Also, if we improve the amount covered by your product, then its price might increase.
The price of your product includes Insurance Premium Tax (IPT), Value Added Tax (VAT) or both. If the government changes the IPT or VAT rates then we will change the price of your product straight away.
How to save money on your price
The cost of living can be a challenge. Our most complete products come with no excess to pay. This might be the right choice if you want peace of mind, no unexpected costs and value being able to budget monthly for a fixed cost. We encourage you to check you’re paying for what you need and that your product is right for you. We have different products and excess options to help you choose what’s best for your needs and your budget. Please contact us if you’d like to discuss your options.
Please see our more detailed guide to our pricing for more information.