Insurance 'Renewal' Premiums.

Don't we just hate insurance companies... are there any companies which don't try it on at renewal time?

Get my renewal quote, obviously gone up from last year. Looking at the same cover, (as near as I could get) from other companies, was clear I'm paying over the top this year. Phone them to tell them they will have to do much better or I'm off this year, after several years with them. I can get the same cover for about £70 - 80 less, without dropping to the 'suspect' companies.

"Let me see what I can do...." comes back with over £60 knocked off. Why couldn't they simply quote the 'best price' as the renewal quote?

We hear or read of this, over and over again. Loyalty used to be rewarded, now it seems being loyal means it's easier to be mugged.

Peter

 

because it is not good business practice to quote the best price first off, to many people just leave a policy to auto renew and dont notice that their insurance company is stiffing them, i would say for every person that questions the renewal another person just pays up and doesn't even question it

 

@Peter I'm in exactly the same boat having got an email regarding renewal from my Insurers just the other day, uncannily with almost the same figures.

I haven't started on the 'dance of comparison' yet, to be followed by the 'phone call of loyalty' . I've posted before on these exact circumstances - it's the same every year. Shame we don't seem to have any alternative to the current setup.

P.S. How are things at home - PM me if you prefer, to keep the thread on topic

 

Really?? Just shows how inured to rising costs [across the board] Joe Public has become.

Perhaps some compulsory time living in either Yorkshire or Scotland ought to be introduced.......

 

I agree they are hoping we just auto renew. I see it as opportunist, "chancers" rather than good business practice, particularly when there is so much competition. If I was a new customer I'd get a quote very similar to the figure I eventually paid. But as a repeat customer they attempt to rip us off. Almost 20% different than their 'best price'.

Then I suppose we expect it, same for a lot of the utilities, services and phone/broadband suppliers. A "let's see what we can get away with" approach.

Peter

 

I had a claim on a home insurance policy a couple of years ago (farmer drove a slurry hopper into garden wall ), upon renewal the price had increased. Fair enough, i'd just claimed.
Fast forward 12 months and the next renewal has increased by more than the original increase straight onto the blower and the chap explains it was because of the previous claim. Just a minute son, my claim was 16 months ago, I've had no claims in the last 12 months so why has it gone up by £120???
Puts me on hold a few minutes and explains that it's gone up for everyone and not just me. So I ask if removing my business insurance cover / public liability from the policy will make it cheaper as I can do without it this year. (holiday home - thought about letting it). He requotes and it comes out £1 more expensive!?

In the end I went with a different company and saved myself £160! I haven't a clue how insurance companies work out premiums going by my experience!

 

My car insurance was due last month, ignored about 5 phone calls from current provider (A plan) got a similar (but not as good) quote online. Without me prompting they reduced their broker fee by 50% and the legal cover by 50%

 

I was with a sea faring car insurance group. Had a bump, my fault. Premium went up markedly, I rang to discuss. "Ah well see its because you have had an accident and our figures show that when you have had one accident you are likely to have another shortly after"

Me...so if I don't have another accident for say 18 months will you reduce my premium ?

"Ah no sir it doesn't work like that"

Another customer lost

 

One of the worst sectors is breakdown cover - which just increases year on year. At one point Green Flag were wanting £150 out of me, went onto their site and got exactly the same quote for £89 I think. Told them where to shove their renewal!

I had that happen to me with Admiral - except for me I wasn't even at fault. I wasn't even in the car at the time either - I'd witnessed a neighbour reversing into my car. Come renewal they tried the same trick with me. I was about to let off steam when the chap apologised and reduced the premium to something more sensible. Never went with them again.

I mean, how do they work out I'm more risk because someone else drives into me??

 

Just been doing my Mum's insurance. Has 7 days notice before it is due tomorrow. We are still arguing over an agreed value for the SL and the fact that they have an incorrect model for it as it is a 55AMG and not a 350.

Trouble is we forget and never get enough time to shop around. The premium has gone up by nearly 180 as they have had to pay out for claims. Well, we haven't claimed so why should we pay more for other people?

Next year we will try to remember to shop around. But, we say that every year...

 

And that's what they rely on.

 

You have all day to look around.
A few clicks could save you a lot of hard earned.
Just make sure you don't tick auto renew.

 

Not all companies increase every year.
I have been more years than I can recall with the nfu [House , cars etc] this year about 4 month prior to renewal my wife had a claim [entirely her fault]
renewal came in a few pound cheaper than previous year.
I do check them every couple of years to make sure they are still OK., I find cheaper prices but when I look at the overall cover levels I found I had about 4 more extras to add on with lv to get same cover.
Also I can just call in the office [not a call centre] never charge for sending duplicate documents [they just emailed my son a cover note for his DMax as he is off the LeMans without having it with him, but first attempt they sent the one for his 1952 ser 1 Land Rover !!!!]

 

It s the same Every year , the annual bugbear .

 

Don't forget the MOT. That's later in the month for me.

Peter

 

Thanks for the interest John. We're coping pretty well, Jill is very slowly improving. If we both hadn't had the flu back at the beginning of the year, I believe we both would be in a better place. It had a go at my nervous system, the last thing I needed with the stress levels still being quite high.

The superb weather up here at present is a two edged sword, great for the spirits and best early summer we've had since 2006. But Jill has found the heat hard to cope with, saps her energy levels. Energy is low anyway, easy for her to get totally exhausted. Working in the garden is a great temptation, have to pace it out and stop before it's payback time. Then I know you will understand this John, we want to get going, but have to watch it isn't one step forward and two back.

How are you doing John?

Peter

 

@Peter Thanks for the update Peter, glad to learn of the improvement, however slow and gradual. Please accept our good wishes and hopes for the future for you both - I'm sure I can safely speak for all the Members on that one. Have a few of these......

I'm doing not too bad, I just keep taking the tablets.... Last two clinics they allowed me 2 months between so they're happy with results and I cope well with the side effects so win, win. I had an electrocardiogram a few weeks back to investigate breathlessness following exertion, but there's been no immediate feedback by way of phone call, letter or flashing blue lights at the door so I'm assuming there's nothing at which they've thrown their hands up in horror. I'll find out when I'm due bloods again in 3 weeks time.

I've decided they can't afford not to keep me alive & kicking [cue the beer advert - good old Sisyphus ], given the £000,000s they've 'invested' in me already........


Apologies to the rest of the Membership for taking this thread so ridiculously off topic

Aaannnd back to the rip-off that is insurance.

 

Its all good John, I've been contemplating should I ask or should I ask for a while.. you beat me to it

Kev

 

I had the same thing with insurance renewal - renewal quote was getting on for £800..... Only way i could reduce it to nearer hat i paid last year was to increase my excess so im now paying about £688!! Its getting a bit silly tbh.. just too much money to drive the car mostly at weekends and maybe on occasion during the week when i.e holiday or days off work or if my Dad uses it occasionally.

Kev

 

Thanks John for your encouraging words and your own update.

I think we can get away with the 'slight drift' off topic. Won't be the first or last topic to go sideways, or completely off subject.

The insurance company have sent me a request to comment on their service... will make a few choice comments.

Peter