Car insurance.... Increase

[Welshbeef]

walm said:

Welshbeef said:

But these people are often old people who don't have he money to waste. They are your grandparents/parents why should hey on fixed low income get mugged off?

Oddly loyal customers are treated badly where is the logic in the business model? Retention is key for a business and it's far far cheaper then trying to win new customers / growth elsewhere.

If you don't have money to waste then you can "earn" good money by spending your time online/on the phone finding a competitive price.
Why would it be grandparents or parents in particular?
Frankly I imagine they are the ones with more time on their hands than the time poor people who have jobs to do during business hours.

The logic in the business model is simply that the revenue generated from the lazy auto-renewers is higher than the revenue lost to those who shop around.
In any case, most will revise their renewal price down to close to market if you bother to call them up directly.
Retention is important for sure but it isn't like say Sky where they have to throw a new box and router at new subs, it's just throwing some SEO dollars at PCW or GOOG.
Furthermore they want to balance their books for various risks and if you happen to be in a demographic where they are over-weight and looking to reduce that balance they may actively want you out!

Sadly it's always the people who can least afford it who suffer the most. There is no disputing that, plenty will never have been online in their lives.

Look no further than since the utilities were created/privatised gas and electric a huge number of people simply never have moved and are reluctant / old fashioned. Why should those who have plenty get more off at the expense of say someone who is less well educated and doesn't have much money ? What happens is these poor people will simply turn the heating off in the winter and sit wrapped in blankets shivering... Due to worrying about money and not being able to afford it. I'm not comfortable with that situation.

[walm]

Welshbeef said:

Sadly it's always the people who can least afford it who suffer the most. There is no disputing that, plenty will never have been online in their lives.

Look no further than since the utilities were created/privatised gas and electric a huge number of people simply never have moved and are reluctant / old fashioned. Why should those who have plenty get more off at the expense of say someone who is less well educated and doesn't have much money ? What happens is these poor people will simply turn the heating off in the winter and sit wrapped in blankets shivering... Due to worrying about money and not being able to afford it. I'm not comfortable with that situation.

The government completely agrees with you and is trying to work out new regulations to raise churn at the utilities.
Which is definitely a good thing.
I was just explaining the economic incentives for the insurance companies.
Although in fairness I really can't think of that many people who are in the what 6% of people who don't have internet access but aren't in the 24% of households who don't have a car. Surely that isn't many?

I still think the vast VAST majority of auto-renewers are lazy richer folk who don't have the time or for whom the time isn't worth it to shop around.

They are keeping premiums down for EVERYONE.

[hwills77]

Welshbeef, did you ever manage to push your premium down in the end?

I know you're talking about a £100+ rise in premium so this won't take much off, but do you ever shop around for your motor legal expenses? It amazes me how many of my friends/colleagues don't even think about that bit, but a few of them were paying £30ish for something they were just clicking and adding on to their policy, when you can buy it separately to your policy for less than a tenner. This one is £9.75 (they do have more expensive ones but I went for the basic package because it seemed enough for me): https://www.bestpricefs.co.uk/motor-legal-protecti...

Someone posted about them last year some time and I followed through and bought - haven't actually had an accident since but I do tend to value the idea of it. Sister had a bump 3 years ago and had legal protection and it genuinely did help, so I've made sure to buy it since then.

Hope this helps - good luck with your premium if you haven't beaten it yet!

[Welshbeef]

Hi

I got it for £460 in the end best I could achieve

[hwills77]

Welshbeef said:

Hi

I got it for £460 in the end best I could achieve

Not bad, down from £517! Can only imagine it's the insurer's risk criteria going up as mentioned previously, but I know first hand that it stings - hence the scrabbling round to save on add-ons!