Your HomeCare price explained

Our handy guide into how we work out your HomeCare price

A price that's right for you

We base your HomeCare price on a combination of things, which may include where you live, your claims history and more. We’ll analyse these things and work out a price that is tailored to you.

We’ve explained each of these things below, so you know what to expect – whether you’re a current HomeCare customer or thinking about becoming one.

Your introductory price

When you join HomeCare you’ll pay an introductory price. So, if your HomeCare price has changed recently, it may be because your introductory price and any associated discounts no longer apply.

Your renewal price will reflect the risk and cost of covering your appliances. But we’ll try to make sure you don’t see a big price increase in one go. Instead, we’ll try to spread the price rise over a few years.

Where you live

We’ll take a look at your address and postcode when we work out your HomeCare price. For example, if you live inside London’s Congestion Charge Zone, you’re likely to pay more than you would if you live outside it.

Properties on the same road or in the same building won’t necessarily pay the same price as each other, as we’ll consider other factors listed below.

Your claims history

If you’re already a HomeCare customer, we consider claims you’ve made in the past, how often you’ve made them, and how much they cost.

We also consider the severity of the faults and use this information to predict how likely you are to make future claims.

Making a change to your HomeCare

If you make a change to your HomeCare agreement – like adding additional cover or changing your excess – it’s likely to affect the price you pay now and in the future.

For example, if you choose to add Home Electrical Cover to your current HomeCare agreement, your price could go up. If you choose to increase your excess, your price could go down.

Your boiler and/or central heating system

We’ll also consider the age, type, make and model of your boiler and/or central heating system. And we’ll continue to learn more about your appliance during your cover period. For example, some boiler models tend to break down more than others. And depending on the size of the property, some boilers have to work harder to heat up the home. As such, they’re more likely to require our services.

If you’ve recently replaced your boiler, added radiators or modified your home, do let us know. That way, we can keep an up-to-date record of your appliances and heating system.

Your excess explained

Your excess is the amount you’ll pay for every completed claim. Your HomeCare price will depend on the amount of excess you’ve chosen for your agreement. Put simply, the higher the excess, the lower the premium.

Parts and repair costs

We’ll also consider the cost of parts and repairs to your appliances when we work out your HomeCare price.

For example, expensive boilers can be costly to replace and repair, and finding parts for older boilers can also be tricky. This increases the cost of providing your HomeCare and – as a result – the price you pay.

Other considerations

Your HomeCare price is also influenced by changes in the world around us, such as increases  in Insurance Premium Tax (IPT), fuel costs, congestion charges and severe weather.