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Why Working with a Trusted Advisor is the Best Policy

Posted on: 4th June 2021

H&H Insurance Brokers highlight how using a broker to help shop around on home insurance can save you significant amounts. 

It’s becoming increasingly apparent within the world of insurance that rather than be rewarded for loyalty, customers who deal directly with an insurer can in fact expect higher premiums year on year. Termed ‘price walking,’ this concept sees insurers increasing their prices for existing customers at each annual renewal, which distorts the market for everyone. As a result of concerns, the FCA have recently implemented a package of measures to protect home and motor insurance customers from loyalty penalties.

Here Paul Graham, Managing Director of H&H Insurance Brokers elaborates on these, and emphasises how using a broker can give you a trusted solution to issues over pricing.

“The FCA have identified that price walking within home insurance markets causes millions of customers to lose out financially each year. These new measures are welcomed by us and many across the industry, who are keen to protect customers from these costly penalties and ensure that the market stays fair.

“One new recently introduced protective rule ensures that renewal quotes for existing insurance customers cannot be more expensive than they would be for new customers. This stops insurers gradually increasing renewal prices over time, unless of course they are in line with increased risk. This legislation forces insurers to really consider how and why they are amending their pricing policies, making sure they offer fair value to customers.

“A further new directive brought in by the FCA requires home and motor insurance to report new data to the FCA themselves, so that they will be able to supervise the market more effectively. They emphasise that this will make the whole insurance market work significantly better for millions of people.

“The FCA advise clients to shop around for policies, however independent insurance brokers like ourselves, do this for clients as standard, factoring in whether the cover comprehensively meets all needs in addition to finding the best price. 

“Lastly, it’s also important to highlight that just because two individuals might have the same type of house, of the same value and with the same claims experience, the two will not be quoted the same price. Other factors such as location, occupation, accidental damages or different levels of cover desired for example can all significantly influence a policy. Insurance brokers have a comprehensive understanding of how all these implications work in tandem and have the specialist experience to get you the right quote at the right price.

Here at H&H Insurance Brokers our primary aim is to arrange tailored insurance solutions for our customers, though our help doesn’t just end after you’ve taken out your policy. We are there when it’s time for renewal to ensure you don’t get caught out. Being independent brokers importantly we’re not bound to one insurer either, meaning we are completely unbiased in the policies we source and secure the cover that’s right for you.”  

For advice or to discuss your insurance renewal, please call our friendly and knowledgeable team at your local office. 

What our customers think

Great to speak with a human being & very pleasant. Sorted in one short phone conversation.

Neil - 04 June 2021

Saved us money by finding a better quote with a different provider

David - 02 June 2021

Excellent service as ever, policies looked at in detail, update or upgraded, as it should be.

02 June 2021

Smooth renewal transaction

Mark - 02 June 2021

fantastic and very helpful

Allan - 02 June 2021

Dylan was spot on and advised us perfectly. He was a pleasure to deal with.

Peter - 09 May 2021

A successful zoom meeting was set up. Very knowledgable H & H adviser. Able to offer useful advice.

07 May 2021

Yes I would recommend them as they are very good. Word of mouth is so important and that is how we came to know of H+H and we would recommend them without any problem

Arwel - 07 May 2021

The contact between the Company and client is excellent. Queries are responded to very quickly.

Linda - 07 May 2021

Customer Focussed
Lee took the time to understand my needs and was very responsive to the questions I had, and worked out the best solution for my situation.

07 May 2021

Great service
always great to deal with. helpful, responsive, flexible.

07 May 2021

Politeness and efficient

Robin - 07 May 2021

First Class service, would highly recommend H & H Insurance Brokers for all property and vehicle insurance.

Janice - 06 April 2021

Excellent Service - very supportive and human
Reminded me about the renewal of my policy. Provided documentation and responded to questions quickly and fully.

Lily - 06 April 2021

give excellent details of cover/cost etc in a friendly manner

04 April 2021

Very efficient and professional and Know what they are talking about will recommend them to anyone

Robert - 02 April 2021

Very helpful sorting out a not so straight forward tractor insurance.

Adrian - 02 April 2021

Good service as usual
Farm insurances

N & A M - 02 April 2021

First class service.
Very helpful friendly service. Nothing was too much trouble.

Jennifer - 02 April 2021

Good communication. Extremely helpful. Prompt service. Reasonable cost

Rhys - 02 April 2021