Its common practice to get a honeymoon rate when you sign up for new insurance. Subsequent years are more expensive. A curious thing ive noticed with insurance from RAC WA is you can get a quote for a new policy on a property you already have insured with them. It appears their system will allow you to take out a new policy straight after the date the old policy is due for renewal. I would have thought it would detect this and alert you with "you already have a policy on that property". So, whats to stop you taking out a new policy with the same company every year?