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The insurance yo-yo
Neil B
post Wed, 14 Apr 2021 - 03:19
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My time of year again.

Last few years I've been backwards and forwards between insuring through comparison sites (now that you can get decent quotes without huge excesses) and a broker I've been with for years.

Long story short; my current provider wants £950 vs £558 last year. So I go on 'Quotezone', who pinged me cos of renewal due and get offered circa £380!
Query is, it's with that same current provider. Am I gonna get away with taking it?

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It seems to sum up what a farce and how bent the whole thing is.


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post Wed, 14 Apr 2021 - 03:19
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The Rookie
post Wed, 14 Apr 2021 - 06:12
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Yup, I do that often, if you get a lower quote for the same company just phone up the renewal line and ask them to do it at that price and they will. Sometimes the cover may be slightly different but they will still work from that lower quote.


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TMC Towcester
post Wed, 14 Apr 2021 - 07:32
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Often it's a 'new policy' discount which may only be available to online customers - so should be OK. However, beware year 2 when they need to recoup from the unwary......
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DancingDad
post Wed, 14 Apr 2021 - 08:42
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I quite like when I can phone them up and ask them to match a lower quote..... especially when they ask who it is with and it is them.
Never had an issue with them matching their own quote.
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andy_foster
post Wed, 14 Apr 2021 - 20:35
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QUOTE (Neil B @ Wed, 14 Apr 2021 - 04:19) *
Am I gonna get away with taking it?

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It seems to sum up what a farce and how bent the whole thing is.


Considering that business selling to consumers have a duty to act in good faith and treat them fairly (e.g. not exploit their naiveity by charging those that don't notice a higher price), the question is not whether *you* will get away with it, but how much corrupt power and influence do they have to enable them to get away with it - as indicated by your last comment.


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southpaw82
post Wed, 14 Apr 2021 - 20:48
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QUOTE (andy_foster @ Wed, 14 Apr 2021 - 21:35) *
but how much corrupt power and influence do they have to enable them to get away with it - as indicated by your last comment.

Considering s 57 of the Criminal Justice and Courts Act 2015, I’d say quite a bit.


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notmeatloaf
post Wed, 14 Apr 2021 - 22:17
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Since they have brought in the requirement to have the previous years premium on the renewal notice I haven't had this problem. The renewal quote just decreases by circa 10% each year (with Aviva).

I don't doubt I could save a little by comparing but when you're paying less than £200/year it's more hassle than it's worth.
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cp8759
post Mon, 19 Apr 2021 - 10:23
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QUOTE (andy_foster @ Wed, 14 Apr 2021 - 21:35) *
Considering that business selling to consumers have a duty to act in good faith and treat them fairly (e.g. not exploit their naiveity by charging those that don't notice a higher price), the question is not whether *you* will get away with it, but how much corrupt power and influence do they have to enable them to get away with it - as indicated by your last comment.

The simple answer is that an insurer who charges the same to new business and renewal would lose all its new business to its competitors, as they would charge a lower price. Treating customers fairly does not extend to pricing yourself out of the market. The FCA is however looking at regulations to ban the practice across the board, which would be welcomed by the industry (you obviously don't pay commission to aggregators on renewal business).


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roythebus
post Mon, 19 Apr 2021 - 12:10
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I insured through one of the online providers. The cost for my Range Rover went up by about £200 this year on renewal (£650 to 850), despite no claims, not moving house etc.

I tried other online comparison sites, most were the same price or a lot dearer.

I tried Money Saving expert. They came in at about £370. When the current provider called to see why I wasn't renewing with them I told them I'd got a much cheaper quote elsewhere. Who with ? You. Line went quiet..call centre came back and renewed at the MSE price.
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Steven G40
post Wed, 21 Apr 2021 - 03:52
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QUOTE (DancingDad @ Wed, 14 Apr 2021 - 09:42) *
I quite like when I can phone them up and ask them to match a lower quote..... especially when they ask who it is with and it is them.
Never had an issue with them matching their own quote.


I've noticed in recent years some companies point blank refuse to match or negotiate a quote if it is with a different company, especially if the quote was obtained by a comparison site. I've even had some say they would rather not get the sale than come down just £10 or £20 to match or beat a competitor.
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Ocelot
post Wed, 21 Apr 2021 - 16:00
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Strangely, my quote went down this year, maybe because they anticipated I had used the car less due to Covid.
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Neil B
post Fri, 7 May 2021 - 14:42
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QUOTE (DancingDad @ Wed, 14 Apr 2021 - 09:42) *
I quite like when I can phone them up and ask them to match a lower quote..... especially when they ask who it is with and it is them.
Never had an issue with them matching their own quote.

I was dubious about this as it didn't work with Direct Line the previous year.
But wow! No hesitation in honouring their own quote I obtained from the comparison site.

They said the quote had expired but their system showed a record of what the comparison site had quoted on their behalf?
They reworked it and I ended up with recovery added to the breakdown cover for no extra charge.

£933 renewal quote and they've just confirmed they've accepted £387. biggrin.gif biggrin.gif

Me very happy.


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QUOTE (DancingDad @ Fri, 11 May 2018 - 12:30) *
Neil is good at working backwards.

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stamfordman
post Fri, 7 May 2021 - 14:51
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QUOTE (Neil B @ Fri, 7 May 2021 - 15:42) *
£933 renewal quote and they've just confirmed they've accepted £387. biggrin.gif biggrin.gif

Me very happy.


I would not be happy with a firm wasting my time like this. If there are alternatives they deserve to lose the business. I only play the game where there is only one cheap insurer, which is Hastings on my son's car.

You still often have to waste time cancelling an auto-renew because they usually only accept phone calls, which does however give you a chance to tell them where to stick it.
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DancingDad
post Fri, 7 May 2021 - 17:48
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QUOTE (Neil B @ Fri, 7 May 2021 - 15:42) *
QUOTE (DancingDad @ Wed, 14 Apr 2021 - 09:42) *
I quite like when I can phone them up and ask them to match a lower quote..... especially when they ask who it is with and it is them.
Never had an issue with them matching their own quote.

I was dubious about this as it didn't work with Direct Line the previous year.
But wow! No hesitation in honouring their own quote I obtained from the comparison site............


We agreed 10% IIRC
rolleyes.gif

Nice one mate..... it's good to talk.... with insurance renewal agents.
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Incandescent
post Fri, 7 May 2021 - 17:57
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In 2019, I had to claim as somebody knocked into my car then departed whilst we were in the toilets at a motorway service station on the M8. So in 2020, the renewal went up quite a lot, but I managed to knock them down a bit, (this was Churchill), but I thought "I've been stiffed, here", so next year lets see what happens. So it came to pass as the Bible tells it, that I get the renewal again, with almost the same premium. My view of insurance is that the principle of it is "the many pay for the few", if you take total premium earnings againsts accident disbursements. On-line I went and got insurance with Direct Line at nearly half the price ! Yet Direct Line also own Churchill !!!! What a Dog's Breakfast car insurance is these days.
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Neil B
post Fri, 7 May 2021 - 18:54
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QUOTE (stamfordman @ Fri, 7 May 2021 - 15:51) *
which is Hastings

As this IS!

QUOTE (Incandescent @ Fri, 7 May 2021 - 18:57) *
What a Dog's Breakfast car insurance is these days.

I thin they learnt it from double glazing companies rolleyes.gif


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QUOTE (DancingDad @ Fri, 11 May 2018 - 12:30) *
Neil is good at working backwards.

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notmeatloaf
post Fri, 7 May 2021 - 21:51
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QUOTE (Incandescent @ Fri, 7 May 2021 - 18:57) *
On-line I went and got insurance with Direct Line at nearly half the price ! Yet Direct Line also own Churchill !!!! What a Dog's Breakfast car insurance is these days.

Same tactic used all over the place nowadays. "My Indesit washing machine was rubbish so I'll buy a Hotpoint." "My Zanussi washing machine was rubbish so I'll go German and buy an AEG."

Games are always easier if you're playing against yourself.
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cp8759
post Mon, 10 May 2021 - 21:25
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QUOTE (Incandescent @ Fri, 7 May 2021 - 18:57) *
On-line I went and got insurance with Direct Line at nearly half the price ! Yet Direct Line also own Churchill !!!! What a Dog's Breakfast car insurance is these days.


Direct Line, Churchill and Privilege are all just trading names of UK Insurance Limited, none of them are legal entities in their own right.


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