To help better understand and learn more about your policy, we’ve put together some important FAQ’s. These include information about the price of your cover, any potential changes to your premium and ways to bring down the cost of your insurance.
Your premium explained
To make things easier for you, you’ll receive a new quote four weeks before your current policy ends. This will include your new price, the price you paid last time, and the cover details at this time. This gives you plenty of time to review and update your policy if needed.
Your new quote is based on your latest cover and the details you’ve provided.
Why is my new quote different from what I initially paid?
This could because of a change you have made to your policy in the past 24 months that may have affected the price of your coverage.
As the insurer of your policy has changed, this may result in a different assessment of risk and so your premium may have changed.
If your price has increased more than expected, there could be several reasons:
A change in your circumstances with your property and location
Your price might rise due to changes in the risk associated with your property or location, even if nothing has changed for you personally. This could include more claims in your area or increased repair costs.
Severe weather
Prolonged periods of cold weather or rain can damage homes. Flooding claims have risen over the past few decades.
Present and future claims
Trends like the volume of claims from previous years, expected claims in future years, and how much they could cost are all factored into the cost of your insurance. That’s why price increases can affect everyone, even if you haven’t claimed, or your cover details haven’t changed.
If you find a cheaper price from another provider
If you get a new quote elsewhere and you compare it to your Sky Protect policy, make sure that you are comparing “like with like”. Check that the sums insured, the cover limits, excesses, and any optional covers you selected with us are mirrored in the new quote.
Just remember that cover levels, terms, and exclusions can differ between insurers. So make sure you choose a policy that’s right for you.
How can I bring down the costs of my insurance?
Although there are things you can do to try and reduce the cost of your insurance, it’s important to make sure that you’ve still got the cover you need. Here are a few ways to help manage your premium:
Your optional cover (add-ons)
Make sure that your optional covers are still relevant before you continue to be covered. Keep the add-ons you need and remove any unnecessary ones.
Your details
Even the smallest of changes can affect your price, so always keep your details up to date.
Voluntary excess
You may want to review your voluntary excess. You can increase it to lower your home insurance premium.
If you have any questions or would like to discuss your cover, please call us on 0333 759 5097 or email renewals@skyprotect.sky. We’ll be more than happy to help.