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25% increase on home insurance renewal
Paid £400 last year for contents insurance. I made no claims. Renewal came through for £500 which is a 25% increase! I rang to cancel the renewal to be informed that all costs had risen due to inflation blah blah blah. Went and did a comparison on Money Supermarket and got almost identical insurance but insured for £25k more and paid £250! Clearly they are just price gouging, costs have not risen 25%. I fail to see how this meets the FCA consumer duty outcome of price and fair value. It clearly doesn’t.