Insurance rip-off?
Discussion
Does anyone ever just pay their insurance renewal? My renewal came through at £640, best quote on Confused.com was £437, with a company that's part of the same group as my current insurer. Quick phone call to my current insurer and they've knocked it down to £430. A third off just for going to the effort of ringing them up, I wonder how many people don't bother and end up paying way over the odds?
I vowed never to look on those comparison sites, but when I my renewal came through, curiosity got the better of me. As tempting as it was to go with almost half the price of my current premium, I was immediately put off by the unheard of insurers (and I deal with insured parties/inscos on a daily basis) but moreover, most of them were different trading names of the same underwriter (same benefits, but massive price differences).
Not for me.
Not for me.
Both the renewal and best online quite are from companies that are part of a big (£1.1Bn turnover) group so hardly dodgy companies you've never heard of, though there were some unusual names that cropped up. Almost tempted to go with someone else when they're that blatantly trying to rip me off in the first place. I've also only just twigged that the comparison website I used, and about half a dozen insurance companies (so presumably all the ones that I got a quote from on the site) are all part of the same group.
Edited by RizzoTheRat on Monday 26th September 20:36
My Admiral mulitcar policy renewal quote was less than the previous year so we renewed. I was expecting for it to massively increase with all this fraud and whatnot going on. Interestingly the insurance on one of the cars (Toyota Previa) actually increased by £50 due to an alleged increase in repair costs.
I have been with the same insurer for 4 years running now. Every time they send the renewal through no one can ever get anywhere near them.
www.greenlightinsurance.co.uk
www.greenlightinsurance.co.uk
Do remember that even though they are owned by the same company they have different policyholder, statistics etc.
For example brand A insurers Mr jones on a focus and has no accidents therefore they view that risk positively, brand B insurers Mr Smith on a focus he has 2 fault accidents and thus see the risk as higher and increase the premium.
Usually that would mean you would change insurer however as a gesture goodwill (remember they don't have to match the price and you'd have to go through the hassle of changing insurer) as they are part of the same group they'll use brand A rating factors not they're own and will honour the price.
For example brand A insurers Mr jones on a focus and has no accidents therefore they view that risk positively, brand B insurers Mr Smith on a focus he has 2 fault accidents and thus see the risk as higher and increase the premium.
Usually that would mean you would change insurer however as a gesture goodwill (remember they don't have to match the price and you'd have to go through the hassle of changing insurer) as they are part of the same group they'll use brand A rating factors not they're own and will honour the price.
hot metal said:
Tried `More Than` and they lived up to their name 
Ditto here. I actually was with More Than, but this year they wanted about £650 compared to the £411 that they asked me for last year. I haggled but the best they could do was £535, so I went with the £405 that Hastings were asking for.Gassing Station | General Gassing | Top of Page | What's New | My Stuff