2-YEAR FIXED PRICE HOME INSURANCE

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How our fixed price home insurance works

Saga’s 2-year fixed price is a benefit of our Saga Plus cover level. You’ll get a comprehensive policy that covers you for buildings, contents, or both with excellent features, such as Accidental Damage cover, included as standard – plus the additional benefit of knowing your price will stay the same for the next renewal.

We’ll fix the price of your policy and any additional cover options added at the start. The price will only change if one or more of the following happens:

You make any changes to your policy
You make a claim for Accidental Damage or accidental loss or any claim made under the personal belongings section of your cover
The rate of Insurance Premium Tax changes
A change in the VAT rate for the Annual Boiler Service.

Is Saga Plus a two-year insurance policy?

No, your Saga Home Insurance policy will run for 12 months at a time. Towards the end of the year, we'll invite you to renew your policy. If nothing has changed, your price will be the same as what you paid in the first year. You’re not tied in and if we can offer you a lower price at renewal, we will.

Once you've checked the details over, you’ll be able to easily renew your fixed price home insurance policy online or over the phone, if you prefer.

Fixed price cover with no ties

You’re not tied into your Saga policy for both years. You choose whether you stay with us when it's time to renew or when you need to make changes to your policy. If you cancel your policy, we won't charge you a cancellation fee.

Is 2-year fixed price home insurance a good deal?

If you choose our Saga Plus cover level, your price will be fixed for two years if nothing changes. This means that you can choose to stay with us for two years, if you wish, safe in the knowledge that your home is covered. You’ll be protected against price increases due to market changes and saved from any surprises when it’s time to renew. If we can offer you a lower price at renewal, we will. You are, of course, free to shop around.

When comparing home insurance policies, it’s important to look at the cover in detail not just the price. The cheapest option might not fit your needs and you won’t necessarily find out until you need to make a claim.

What is covered by the Saga Plus policy?

Saga Plus is our top cover level and includes Accidental Damage, Worldwide cover for your personal belongings (such as mobile phones) and Matching Sets cover (this includes important matching items such as your kitchen cupboards and bathroom suite).

For a quick comparison, view our table which compares Saga Select with Saga Plus or for full details please see the policy book.

What happens if I move house?

If you move house during the two years, you’ll need to let us know. We'll recalculate the cost of your home insurance for your new home and then this price will be fixed for the remaining time of your 2-year fixed price insurance. If you decide to shop around, you’re free to cancel your policy at any time. There’s no cancellation fee, and your Saga 2‑year fixed price policy will end when you cancel.

If you have our Buildings Cover, your current and new homes can be covered for the time between exchanging contracts (or concluding the missives in Scotland) until you move in, as long as it’s within eight weeks. This cover is only in place when agreed by Saga so please contact us to arrange this cover prior to exchanging contracts on your new home.

If you have our Contents Cover, we'll automatically cover loss of or damage to your furniture, soft furnishings and free-standing kitchen appliances in your new home for seven days before you move in.

Please see the new home sections of the policy book for full details.

Who provides Saga Home Insurance?

Saga Home Insurance is arranged and administered by Ageas Retail Limited and underwritten by Ageas Insurance Limited.

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2-year fixed price T&Cs

1. Saga’s 2-year fixed price benefit is offered to you for a 2-year period. Your total price (including the policy set-up fee, any monthly interest charges and the price of any additional cover options taken out at the start of your 2-year fixed price period) is the price you will pay each year of the fixed price period, subject to these 2-year fixed price Terms and Conditions.

2. The Saga 2-year fixed price benefit applies to a Saga Plus policy taken out at the start of the 2-year fixed price period and renewed for the following year. You may cancel your policy at any time, in accordance with the cancellation process as shown on page 37 of your Policy Book, and you will not be charged a cancellation fee. Upon cancellation of the policy your Saga 2-year fixed price policy will end.

3. During your 2-year fixed price benefit,

If we are able to offer you a lower price at your renewal then the lower price would be effective upon renewal of your policy in the second year.
If you have made a claim detailed in 4b, we may still offer a lower price however your excesses and endorsements* may change. If the new terms do not meet your needs, you have the option to cancel in accordance with the cancellation process as shown on page 37 of your Policy Book. You will need to let us know if you want to do this.

4. The price of your insurance may change during the 2-year fixed price period if:

You make any changes to your policy or amend your cover options at any time. Such changes may result in adjustments to the price, excess amounts, and/or policy conditions (for example, if you move home, increase or reduce your cover limits or add or remove covers). These changes will be clearly detailed in your Statement of Fact. Any change in price will take effect immediately upon making the change and will remain in place for the remainder of the current 2-year fixed price period.
You or your joint policyholders make a claim under accidental damage, accidental loss or personal belongings section(s) of your cover on this policy. Claims made under these sections of cover can also lead to a change in your policy excesses and/or endorsements. These changes will not take effect until the next annual policy renewal after the claim occurred and will continue for the remainder of your fixed price period. Any other claims made will not affect your price or terms.
There is a change to Insurance Premium Tax (IPT) (or VAT in respect of Annual Boiler Service). Any change in IPT or VAT (related to Annual Boiler Service) will take effect at the next annual policy renewal period.

Any changes will be shown in your Statement of Fact. However, if the new price and/or terms do not meet your needs, you have the option to cancel your policy in accordance with the cancellation process as shown on page 37 of your Policy Book, and you will not be charged a cancellation fee. Upon cancellation of the policy your Saga 2-year fixed price policy will end.

5. There may also be occasions where we cancel your policy or may not be able to continue to offer you cover such as:

Changes to your circumstances (such as moving house, making multiple claims, being convicted of multiple or a serious non-motoring offence)
Fraud, or deliberately or recklessly providing us with incorrect information.

If this happens, your policy will be cancelled in line with our cancellation process, and a full list of reasons is shown in your Policy Book (page 39). Upon cancellation of the policy, your Saga 2-year fixed price policy will end.

6. The Saga 2-year fixed price benefit is not available with Saga Select cover.

7. The Saga 2-year fixed price benefit is provided by Ageas Retail Limited. Registered in England and Wales. Registered office: Ageas House, Hampshire Corporate Park, Templars Way, Eastleigh, Hampshire, SO53 3YA. Ageas Retail Limited is authorised and regulated by the Financial Conduct Authority, Financial Services Register reference number: 312468.

*Endorsement – An endorsement is an extension or restriction to your policy. An endorsement can include:

1. An exclusion – things your policy will not cover. Such as if the property is undergoing building work, an endorsement may then be applied to exclude accidental damage cover to your buildings and/or contents.

2. A condition of cover – existing policy cover remains in place, but there are things you must or must not do to remain fully protected. An example is that if you have an individual item of jewellery worth over a certain value, we ask that it be inspected or valued by a professional jeweller every 5 years.