Review of Hiscox


Rated 2 out of 5 stars

The Only Way Is Up..... And Up... And Up.... in over inflationary rises

Upon receiving my 9th renewal notice, featuring a 9th circa double inflation increase in premium I decided to call them, bearing in mind I've never made a claim, or if memory serves ever troubled them for anything . I thought perhaps that I was probably overpaying for contents at £625.

The perfectly pleasant but ludicrously nonchalant Jordan told me that, and I quote
"I was lucky to only have a 6% premium increase as many customers were experiencing a 30-40% increase as this is a decision which has been taken at board level"
He then came back to offer £30 off - in other words 5%. Less than any of the past 9 years increases.
Hiscox don't have the rep of being the cheapest, however they did have provenance for value and service for many years and being reasonable on pay out.
It wrankles however when reading many other recent comments here about increases of a ridiculous nature. Whilst I am sure that insurance premiums are going up, they haven't outstripped inflation x2 for a decade every single year.
Companies who take these kinds of liberties with customers usually come unstuck in the long term.

September 19, 2018
Unprompted review

Reply from Hiscox

Many thanks for your feedback Keith.

I am sorry for the frustration our renewal pricing has caused. Some customers are seeing larger than inflation premium increases this year and this is due to a number of factors. Individual circumstances can affect our prices, as can external factors such as weather, Insurance Premium Tax and inflationary trends.

We prioritise providing extensive cover and being fair and reasonable when our customers need us, and we aim to offer good value in doing so.

I apologise for the unsatisfactory service you experienced on your call and can assure you we have taken steps to address this internally.

We are grateful for your long standing custom. Thank you for your continuing to insure with Hiscox.

Kind regards

Gavin Abbs
Head of Direct Home Insurance, Hiscox