I have worked for British Gas for many years. I have noticed that when a customer renews their policy, the renewal price is a lot higher than what a new customer would pay. This unfair in my opinion and I would like to change this.
I will offer customers a fixed price for their home cover, and renewal prices will be based on the customers claim history. If a customer hasn't made a claim all year, the customers renewal price will match what they initially paid when they took out a policy.
A lot of home cover companies get out of paying for boiler repairs by claiming the boiler is beyond economical repair. This leaves the customer with two options, have the boiler repaired privately or have their boiler replaced. What's the point of insurance then? With my policies customers will not have to worry about beyond economical repair. As long as we can source the parts required to successfully repair the boiler, we will repair it!
If a boiler is in fact beyond repair, we will buy a new boiler ourselves, the policy holder would just have to pay the labour for installation.
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