why DO insurers requote so high?
Discussion
ok, let me start by saying this isnt a moan. i know ou have to do the dance each renewal and get the prices compared and so on, but the renewal amounts seem to be getting much higher relative to comparison amounts these days.
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.
so why do they go in so high? could the argument not be made that if the renewal wasn't so noticably higher then people might be less inclined to do comparisons?
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.
so why do they go in so high? could the argument not be made that if the renewal wasn't so noticably higher then people might be less inclined to do comparisons?
DanDC5 said:
They pretty much chance their luck and just bank on you being lazy and just paying the renewal. I'd imagine it's surprising how many people don't bother to shop around.
yeah i know that's the concensus but it just seems the differences are getting greater to the point that it prompts people to look round a bit more.A couple of years back my renewal quote was more than double the previous years. After a bit of shopping around I got it back down to about the same as I paid the previous year.
There must be enough people who accept either through laziness or not realising that the company who they have been loyal to for the past 10 years are happy to screw them over.
There must be enough people who accept either through laziness or not realising that the company who they have been loyal to for the past 10 years are happy to screw them over.
hairykrishna said:
I suppose it's because most of them renew automatically and they can rely on a good percentage of people just accepting it through laziness.
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.
VinceFox said:
DanDC5 said:
They pretty much chance their luck and just bank on you being lazy and just paying the renewal. I'd imagine it's surprising how many people don't bother to shop around.
yeah i know that's the concensus but it just seems the differences are getting greater to the point that it prompts people to look round a bit more.Riley Blue said:
VinceFox said:
DanDC5 said:
They pretty much chance their luck and just bank on you being lazy and just paying the renewal. I'd imagine it's surprising how many people don't bother to shop around.
yeah i know that's the concensus but it just seems the differences are getting greater to the point that it prompts people to look round a bit more.VinceFox said:
Riley Blue said:
VinceFox said:
DanDC5 said:
They pretty much chance their luck and just bank on you being lazy and just paying the renewal. I'd imagine it's surprising how many people don't bother to shop around.
yeah i know that's the concensus but it just seems the differences are getting greater to the point that it prompts people to look round a bit more.B'stard Child said:
VinceFox said:
Riley Blue said:
VinceFox said:
DanDC5 said:
They pretty much chance their luck and just bank on you being lazy and just paying the renewal. I'd imagine it's surprising how many people don't bother to shop around.
yeah i know that's the concensus but it just seems the differences are getting greater to the point that it prompts people to look round a bit more.I got my renewal quote through from Admiral - went up from £1,500 to £1,900 (accident in 2010, moved from a '53 Volvo S60 to a '57 BMW 525i touring). Expected a little hike.
I ran a few searches on gocompare to see what prices were thrown up. With some tinkering I got a quote from Elaphant, Admiral's sister company for £1,300... so phoned Admiral who matched this quote, then by adding another driver (who I'd simply forgot to add originally) knocked it down to £1,200!
£1,900 down to £1,200!
How does that even work?!
An image of some monkeys tapping calculators on the upper floors of some office block in Cardiff spring to mind
I ran a few searches on gocompare to see what prices were thrown up. With some tinkering I got a quote from Elaphant, Admiral's sister company for £1,300... so phoned Admiral who matched this quote, then by adding another driver (who I'd simply forgot to add originally) knocked it down to £1,200!
£1,900 down to £1,200!
How does that even work?!
An image of some monkeys tapping calculators on the upper floors of some office block in Cardiff spring to mind
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)Just this week, I had a renewal notice for £841 from my current insurer. Went onto a comparison site and the cheapest quote was £531.
I was pleased with this, obviously. What surprised me though, was that not only was it the same Broker, but the same underwriters as my current ones!
I was pleased with this, obviously. What surprised me though, was that not only was it the same Broker, but the same underwriters as my current ones!
Edited by Baz Tench on Thursday 7th June 11:51
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)Potatoes said:
sleep envy said:
Potatoes said:
accident in 2010, moved from a '53 Volvo S60 to a '57 BMW 525i touring... ...£1,900 down to £1,200!
good work but still, HOW MUCH?!?!
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)
Gassing Station | General Gassing | Top of Page | What's New | My Stuff