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Car Insurance companies scamming customers for years

Community Veteran
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Registered: 06-11-2007

Car Insurance companies scamming customers for years

Well, that`s my opinion anyway.....
Why?  .... well now, let me see...... My trusty skoda fabia of the last 10 years cost me about £150 (plus usual yearly increments) to insure every year....(fully comprehensive £50 excess)..
original "vehicle value" on the proposal was £4.500 and every year that has depreciated, until last year`s renewal, when they put in the value at £800.00  yet they still increased the premiums yearly,...
This year,... same company  (L.V.) did the usual... increased the premium, and sent it out, expecting me to pay up automatically.... but I went to their website, and put in the details of the new car,..... exactly as I had told them in September when I got the car,... and it came back about £40 cheaper... so phone them up ... and got it at the cheaper price...
Of course,... the value of this car is taken into account... being only 3.5 years old at insurance start... the value being £6500.00 ...... I don`t know what the devaluation will be by the time the renewal comes up at the beginning of March next year,... but I can guarantee, the premium will go up , and I will have to phone them up again.. but they certainly won`t drop the premium in line with the value of the car they are insuring.

Erm.... scam? ...... looks that way to me....
17 REPLIES
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Re: Car Insurance companies scamming customers for years

A few years back I auto-renewed with Churchill for 3 years with what I thought were reasonable increments.
That was until it went up by well over £100 and I did an online quote with a comparison site and found one £200 less.
I called Churchill who said they couldn't match the quote so didn't get any more of my business.
I've done online quotes and switched every couple of years ever since.
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Re: Car Insurance companies scamming customers for years

It's not just car insurance.
Around 5/6 years I found out my parents were paying over £600 a year for buildings and contents insurance with the Prudential who they'd been with for years simply accepting their annual renewals.
I did some checking and could get comparable cover for under £200. The man from the Pru said no so I organized cover with a new company for less than a third of the price.
I dread to think how much was wasted over the years that they stuck with the same company Sad

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Re: Car Insurance companies scamming customers for years

Quote from: shutter
Well, that`s my opinion anyway.....

Vehicle is the biggest legal scam in the world, you HAVE to have it for any vehicle taken onto the public highways, so you have to pay what they charge or you get pulled by the rozzers, and they damned well know it, so they've abused the insurance system to overcharge people for something that isn't even worth the money paid...
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Re: Car Insurance companies scamming customers for years

And as we all know there are people out there who scam the insurance companies with fake accidents and equally fake injury claims.
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rongtw
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Re: Car Insurance companies scamming customers for years

Agree Strat ,, BUT there is no way the payout for accidents claims are equal to the price rises each year for insurance .
i dont know who the biggest scammers are the claimers or the insurers  Sad
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Re: Car Insurance companies scamming customers for years

And so many insurance website push such things as Motor Legal Assistance, premium-type car hire, etc with stories meant to scare you into buying them.
The only extra I take is NCD protection. But I often wonder it's value. Several times I have obtained quotes both with and without a NCD (more than 9 years) and the reduction is always way short of any advertised percentage discount which, I assume, is on the basic cost of the insurance before any addons.

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itsme
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Re: Car Insurance companies scamming customers for years

NCD protection will not stop the insurance going up if you have an accident as you are a higher risk so they up the premium.
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Re: Car Insurance companies scamming customers for years

The insurance not only pays for the vehicle but also to damage to other vehicles, property and very importantly to people. Someone who is hospitalised could cost the insurance company many thousands of pounds.
Kremmen
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Re: Car Insurance companies scamming customers for years

Quote from: Mav
It's not just car insurance.
Around 5/6 years I found out my parents were paying over £600 a year for buildings and contents insurance with the Prudential who they'd been with for years simply accepting their annual renewals.
I did some checking and could get comparable cover for under £200. The man from the Pru said no so I organized cover with a new company for less than a third of the price.
I dread to think how much was wasted over the years that they stuck with the same company Sad

Exactly the same as me. DL increased the auto renewal quote from £400 to £800 !!!
A broker friend looked at my circumstances and got me a tailored policy for £200 with one of his better companies. Funny thing was a few months later Which? did an investigation and AGEAS came 4th and DL were considerably lower.
Let's be careful out there !
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Re: Car Insurance companies scamming customers for years

I have my car and home/contents with Ageas. I was impressed with their ease of setting my policies up. Not only did I get competitive rates but got £220 cashback through one of the cashback companies. Smiley
Kremmen
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Re: Car Insurance companies scamming customers for years

He reckons they are a pleasure to deal with. He's never had any issues with claims. They can't compete on car insurance for me though.
Let's be careful out there !
Community Veteran
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Re: Car Insurance companies scamming customers for years

If you use AgeUK for insurance they insure through Ageas as indeed does RIAS, another good company. The two companies have almost identical products except the AgeUK policy is slightly better in its provisions.
Good to hear what you say about them as you never know how good a company is until you make a claim.
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Re: Car Insurance companies scamming customers for years

I'm with Ageas and they've just charged me £27 to change the car! The broker also charged me £10 admin fee!  Huh
I don't mind a tenner but £27 is just extracting the urine!
Geoff,
York.
PowerLee
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Re: Car Insurance companies scamming customers for years

Im in my 7th year with Admiral, every year there renewal turns up & I check around for a better deal elsewhere & never manage to find one so I just renew again with Admiral.
Admiral even rang me up a couple of years back asking why I was with them for a 5th year  Grin