Insurance renewal
Discussion
EdT said:
I've grown weary of many years of 'insurance is going up for everybody in the UK' as mine never did.. but for the 1st time.. mine has actually risen. Annoying.
Is everyone finding the same?
OP, have you "done the dance" with all the insurance comparison sites on the internet? The Meerkats, the fat opera singer, the businessmen in hotpants, etc.Is everyone finding the same?
Pretty much every year my existing insurer tries to screw more money out of me, and every time it happens, I get a better quote elsewhere and tell them to naff off.
Annoyingly, I seem to go round in circles with three different insurance providers, so I can never remember who I'm with in any given year!
AudiSport said:
£600 for my wife and I multi-car policy last year. No change in circumstances, its increased to £1000!
Aside from Admeral, can anyone recommend a multi car provider? Is it even worth doing, or is it just a marketing ploy for your business?
We have 3 cars & 3 policies with different insurers, just seems to work out cheaper for us.Aside from Admeral, can anyone recommend a multi car provider? Is it even worth doing, or is it just a marketing ploy for your business?
MorganP104 said:
OP, have you "done the dance" with all the insurance comparison sites on the internet? The Meerkats, the fat opera singer, the businessmen in hotpants, etc.
Pretty much every year my existing insurer tries to screw more money out of me, and every time it happens, I get a better quote elsewhere and tell them to naff off.
Annoyingly, I seem to go round in circles with three different insurance providers, so I can never remember who I'm with in any given year!
Only online with Go Comapre.. bit fiddly though as it's a modified car & I reckon safer to speak to a human because of this.Pretty much every year my existing insurer tries to screw more money out of me, and every time it happens, I get a better quote elsewhere and tell them to naff off.
Annoyingly, I seem to go round in circles with three different insurance providers, so I can never remember who I'm with in any given year!
I'm sure most of you know this, so forgive me, as some will not.
The obvious way to get new customers is to give a low premium, so that you sign up. Most will then NOT change insurers when it comes to renewal, and the price goes up. Same with electric/gas etc.
It's a great con and the way most make their money (I know a bloke that runs one of the companies and he's explained it in detail. Lose on first year, make on second, screw on third.
Most here will be savvy to that but Joe Blogs seems not to see it.
Anyway, I've been with the same company for 40 years and pay sod all, as they know I don't crash, and nobody nicks cars here
The obvious way to get new customers is to give a low premium, so that you sign up. Most will then NOT change insurers when it comes to renewal, and the price goes up. Same with electric/gas etc.
It's a great con and the way most make their money (I know a bloke that runs one of the companies and he's explained it in detail. Lose on first year, make on second, screw on third.
Most here will be savvy to that but Joe Blogs seems not to see it.
Anyway, I've been with the same company for 40 years and pay sod all, as they know I don't crash, and nobody nicks cars here
TwigtheWonderkid said:
richs2891 said:
OK So can you explain and hopefully educate some of us why the premium should not go down assuming no changes to car / address / job ?
Because once you hit max ncb, stats show that the risk doesn't improve. So someone with 10 years claim free driving is no better risk than someone with 9. Whereas someone with 4 yrs claim free driving is a better risk than someone with 3. If you are no better risk than you were last year, and the insurance company overheads have increased due to inflation/tax increase/Ogden table/ etc. why shouldn't your premium go up?
EdT said:
popeyewhite said:
Because I'm a year older, and another year claim free. Because car crime has decreased in my area. Because the cost of replacing my car should it be stolen or written off is now considerably less.
Could be me talking...How do you know crime has decreased? Why is the cost reduced?
I really don't get how people don't get this!
Edited by TheBALDpuma on Monday 3rd April 19:36
TheBALDpuma said:
Being a year older and a year more claim free doesn't mean your risk improves.
It's another year without a claim, so how does that possibly make me a worse risk?TheBALDpuma said:
How do you know crime has decreased? Why is the cost reduced?
Car crime decreased in Cheshire last year because official figures show it has. I'm surprised you didn't know cars depreciate like anything else - Cars decrease in market value, which is what you're offered if it gets stolen/written off. TheBALDpuma said:
I really don't get how people don't get this!
Well... .Last year... for the first time ever, my renewal went down (thanks Tesco!) on one car. I am just doing the other car tonight because the renewal is nearly £100 more than last year. Sadly, most other comparable offers are much the same (likely because I now have a windscreen claim which happened in feb). So its not worth the hassle to change to save a couple of quid.
I did find it funny though that I entered all my details on my current providers website and it came back with a quote over £1000! My renewal with them is £400. I dare say that is probably an artificial price to make you take the renewal rather than get a new price that is better.
I did find it funny though that I entered all my details on my current providers website and it came back with a quote over £1000! My renewal with them is £400. I dare say that is probably an artificial price to make you take the renewal rather than get a new price that is better.
Edited by Otispunkmeyer on Monday 3rd April 20:11
GetCarter said:
I'm sure most of you know this, so forgive me, as some will not.
The obvious way to get new customers is to give a low premium, so that you sign up. Most will then NOT change insurers when it comes to renewal, and the price goes up. Same with electric/gas etc.
It's a great con and the way most make their money (I know a bloke that runs one of the companies and he's explained it in detail. Lose on first year, make on second, screw on third.
Most here will be savvy to that but Joe Blogs seems not to see it.
Anyway, I've been with the same company for 40 years and pay sod all, as they know I don't crash, and nobody nicks cars here
Do you have any stats that most dont change their car insurers? I dont know anyone who stays with the same insurance company year on year.The obvious way to get new customers is to give a low premium, so that you sign up. Most will then NOT change insurers when it comes to renewal, and the price goes up. Same with electric/gas etc.
It's a great con and the way most make their money (I know a bloke that runs one of the companies and he's explained it in detail. Lose on first year, make on second, screw on third.
Most here will be savvy to that but Joe Blogs seems not to see it.
Anyway, I've been with the same company for 40 years and pay sod all, as they know I don't crash, and nobody nicks cars here
TheBALDpuma said:
richs2891 said:
Mound Dawg said:
Mine went down but probably because I turned 55 so went into the next age group.
Used to work in insurance and never understood why people on maximum NCD and in their forties expected their premium to reduce EVERY year. What other things do you buy that are subject to reverse inflation?
OK So can you explain and hopefully educate some of us why the premium should not go down assuming no changes to car / address / job ?Used to work in insurance and never understood why people on maximum NCD and in their forties expected their premium to reduce EVERY year. What other things do you buy that are subject to reverse inflation?
Last renewal I had mine went up from circa 600 to almost £1k! No change in circumstances either.
So I signed up as a new customer with the same company using a different email address but (of course) every other detail being identical.
New customer price was about £550, utter madness! I phoned up and explained the two figures and amazingly the call handler couldn't reduce the renewal quote to match so she cancelled my original policy while I then purchased my 'new' policy online.
So I signed up as a new customer with the same company using a different email address but (of course) every other detail being identical.
New customer price was about £550, utter madness! I phoned up and explained the two figures and amazingly the call handler couldn't reduce the renewal quote to match so she cancelled my original policy while I then purchased my 'new' policy online.
DoubleD said:
GetCarter said:
I'm sure most of you know this, so forgive me, as some will not.
The obvious way to get new customers is to give a low premium, so that you sign up. Most will then NOT change insurers when it comes to renewal, and the price goes up. Same with electric/gas etc.
It's a great con and the way most make their money (I know a bloke that runs one of the companies and he's explained it in detail. Lose on first year, make on second, screw on third.
Most here will be savvy to that but Joe Blogs seems not to see it.
Anyway, I've been with the same company for 40 years and pay sod all, as they know I don't crash, and nobody nicks cars here
Do you have any stats that most dont change their car insurers? I dont know anyone who stays with the same insurance company year on year.The obvious way to get new customers is to give a low premium, so that you sign up. Most will then NOT change insurers when it comes to renewal, and the price goes up. Same with electric/gas etc.
It's a great con and the way most make their money (I know a bloke that runs one of the companies and he's explained it in detail. Lose on first year, make on second, screw on third.
Most here will be savvy to that but Joe Blogs seems not to see it.
Anyway, I've been with the same company for 40 years and pay sod all, as they know I don't crash, and nobody nicks cars here
We did get comments from people about being loyal to brands like Direct Line and therefore they shouldn't be stiffing you, and couldn't believe they'd just let a "valued customer" walk. I just nod and agree, I know it doesn't work like that. There is no loyalty given and none taken... Just move on the moment the price doesn't work for you.
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