why DO insurers requote so high?
Discussion
blugnu said:
VinceFox said:
blugnu said:
VinceFox said:
case in point, my m3. renewal offered at 480 quid. after comparison i get it down to 330. 150 quid. off a 450 quid quote. i'm poo at maths but that's a fair chunk of percentage.
I want to know why I had to pay more than your initial 'high' quote for an M3 to insure a 11 year old Fiat Multipla - and why your final figure is the same as it costs me to insure an 11 year old 1.6 Seat Leon. (no previous, clean licence, 38, 12 years NCB btw)
cheeky
!!
StottyZr said:
Anything under 2k I see as normal. Since I started driving the lowest I've paid is about £1350 for 10months insurance on a 106 1.5d. Paid £1700 last year, after a non-fault accident I'm hoping for under £2k. Fingers crossed ehy!
eh?I pay less that £1.2k for both of mine, mid 30's living in London (zone 2)
£2k is taking the piss!!
sleep envy said:
StottyZr said:
Anything under 2k I see as normal. Since I started driving the lowest I've paid is about £1350 for 10months insurance on a 106 1.5d. Paid £1700 last year, after a non-fault accident I'm hoping for under £2k. Fingers crossed ehy!
eh?I pay less that £1.2k for both of mine, mid 30's living in London (zone 2)
£2k is taking the piss!!
I get a touch irked when I see somebody say "Oh I'm paying £1650" and people are completely shocked at the number. Its genuinely an expected figure in my eyes!
StottyZr said:
sleep envy said:
StottyZr said:
Anything under 2k I see as normal. Since I started driving the lowest I've paid is about £1350 for 10months insurance on a 106 1.5d. Paid £1700 last year, after a non-fault accident I'm hoping for under £2k. Fingers crossed ehy!
eh?I pay less that £1.2k for both of mine, mid 30's living in London (zone 2)
£2k is taking the piss!!
I get a touch irked when I see somebody say "Oh I'm paying £1650" and people are completely shocked at the number. Its genuinely an expected figure in my eyes!
for context.
VinceFox said:
bugger that. at on point the woman on the phone said she could only get within fifty quid and actually used not having to do the paperwork of changing companies as leverage!
you dont want to know what id do for fifty quid, but it goes waaaay past paperwork.
: rofl: we appear to agree againyou dont want to know what id do for fifty quid, but it goes waaaay past paperwork.
Just renewed classic policy with flux. Renewal had gone up by 30+%
20 minutes haggling and we're down by £100, so cheaper than last year.
Mid way through the "process" she gives it some:
"oh but if you move you'll have to pay for another phone call!"
Seriously? So saving £100 for the sake of a £0.45 phone call?
NotDave said:
VinceFox said:
bugger that. at on point the woman on the phone said she could only get within fifty quid and actually used not having to do the paperwork of changing companies as leverage!
you dont want to know what id do for fifty quid, but it goes waaaay past paperwork.
: rofl: we appear to agree againyou dont want to know what id do for fifty quid, but it goes waaaay past paperwork.
Just renewed classic policy with flux. Renewal had gone up by 30+%
20 minutes haggling and we're down by £100, so cheaper than last year.
Mid way through the "process" she gives it some:
"oh but if you move you'll have to pay for another phone call!"
Seriously? So saving £100 for the sake of a £0.45 phone call?
They claim rising costs are due to rising expenses from claims, but then will often chop their prices hugely simply upon being asked to. If they were pricing based on cost + margin, they wouldn't be able to do that.
Which is it? High costs, or a clever chap in marketing who has done some complicated maths and realised that attempting a huge increase year-on-year is the way to go, even if it means churning a huge percentage of the clients every year, and discounting back to 'competitive' for any customer prepared to put in the legwork.
All's fair in love and retail, but taking the biggest margins from your most loyal customers isn't a nice way to do things. Most industries do the reverse.
Which is it? High costs, or a clever chap in marketing who has done some complicated maths and realised that attempting a huge increase year-on-year is the way to go, even if it means churning a huge percentage of the clients every year, and discounting back to 'competitive' for any customer prepared to put in the legwork.
All's fair in love and retail, but taking the biggest margins from your most loyal customers isn't a nice way to do things. Most industries do the reverse.
SWMBO recently renewed her car insurance, she drives a base model Jazz. Her then-current insurer quoted £311 for this year - including a £50 renewal fee...
They also had incorrect details logged for several items that I suspect would have caused problems if they'd had cause to look into them after a claim - we would have had to ring them to go through the rigmarole of correcting several significant errors. The info was correct on last year's paperwork incidentally. Glass repair and renewal excesses had also shot up since last year - but it was the 50 groat renewal fee that stuck in the throat.
We went elsewhere, paid a little (like £30) more than the old insurer's quote (less their 'renewal fee'!) for much lower excesses all round plus better value extensions for things like courtesy cars .
Renewal fees look like commercial suicide to me - why not just give "go away!" quotes instead, like in the good old days?
They also had incorrect details logged for several items that I suspect would have caused problems if they'd had cause to look into them after a claim - we would have had to ring them to go through the rigmarole of correcting several significant errors. The info was correct on last year's paperwork incidentally. Glass repair and renewal excesses had also shot up since last year - but it was the 50 groat renewal fee that stuck in the throat.
We went elsewhere, paid a little (like £30) more than the old insurer's quote (less their 'renewal fee'!) for much lower excesses all round plus better value extensions for things like courtesy cars
.Renewal fees look like commercial suicide to me - why not just give "go away!" quotes instead, like in the good old days?
VinceFox said:
mental innit? what sort of frigging argument is that ffs?
Yup, she also couldn't grasp that I wasn't arsed about commercial use on a frigging classic."poppet" may have come into vocab use, and I did get my fair price in the end.
Now, the ships captains company... Bunch of robbing b
ds NotDave said:
VinceFox said:
mental innit? what sort of frigging argument is that ffs?
Yup, she also couldn't grasp that I wasn't arsed about commercial use on a frigging classic."poppet" may have come into vocab use, and I did get my fair price in the end.
Now, the ships captains company... Bunch of robbing b
ds well, there was one company below it but i suspect it's only used by trainee tyre fitters to insure clapped out imprezas.
just a hunch.
Potatoes said:
aw51 121565 said:
Renewal fees look like commercial suicide to me - why not just give "go away!" quotes instead...
Well said, completely agreeI went on Twitterbook and had a bit of a gripe about my experience (yes, yes, i know). Some people who replied had the nouse to shop around, as they said the same thing had happened to them, but the amount who don't bother and just pay up is surprising.
I had a few 'thanks for the tip' replies......
blugnu said:
VinceFox said:
i'm a little older than you. also it may be postcode or occupation?
I thought it started going up again when you got not much older than me - older drivers being more risky and so on? When does that happen? Postcode is probably the big difference - I pay £250 for my Merc but did a comparison site quote for someone on a Merc forum moaning about insurance. All my details but his Leeds LS1 postcode and the premiums were starting at £700.
One thing to watch, and annoys me about these threads, is when comparing with other people make sure the excess is like for like. I hate excesses and have the minimum (£100) but other people are happy to have £500 and that can make a big difference to the premium.
I use LV= for 3 of our cars and their renewal quotes are usually lower than I can get with them on comparison sites or as a new customer.
blugnu said:
I want to know why I had to pay more than your initial 'high' quote for an M3 to insure a 11 year old Fiat Multipla - and why your final figure is the same as it costs me to insure an 11 year old 1.6 Seat Leon. (no previous, clean licence, 38, 12 years NCB btw)
where do you live? Baghdad?VinceFox said:
weird, theyre who offered the cheapest quote that i cited to flux.
well, there was one company below it but i suspect it's only used by trainee tyre fitters to insure clapped out imprezas.
just a hunch.
Pointy hat boat people were dirt cheap at beginning of multicar policy, but then when it's come to renewal/adding the main car on to the policy, the reaming tool got well used well, there was one company below it but i suspect it's only used by trainee tyre fitters to insure clapped out imprezas.
just a hunch.
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