Insurance renewal (and other rip offs)

[#1]

Read the news today (Rip offs) about people paying over the odds for nigh on everything.

The wife's car insurance is coming up for renewal and like one does, went online to see if I could better it.

Easily bettered. Renewal quote £502, New £235. Errr... same company!

I very rarely do this but I decided to phone up. Bad mistake. I must have been on the phone for god knows how long. All I got from the man was, I'll check this, I'll check that. Hold on. I really felt like hanging up - maybe even feeling suicidal by the end. Eventually got there after a long drawn out conversation, renewed at £235. But it would have been far easier to just click on a 'cancel renewal' button and started a new policy - (they should ban auto-renewals anyway).

The man on the phone said we'd get an automatic 20% discount by applying online but the difference between the two is more than 20%.

Near ripoff, certainly.

[#2]

I always check what the web price is for renewals.

Even if its the same, I always ask for a discount - and usually get at least £20 off the quoted amount.

Can't face using a different Insurance company who will demand written proof of NCD from the old Insurance company who will be really keen to supply it - won't they?

[#3]

I always have asked for a discount and always get something. I have 2 main insurers who I switch between most years as they give me the best value for money. It is a pain having to go through all the questions every time you switch, especially when you have been with them only 12 mths ago and nothing has changed.

[#4]

Can't face using a different Insurance company who will demand written proof of NCD from the old Insurance company who will be really keen to supply it - won't they?

I've changed insurers a few times and never been asked to provide proof of NCD. I understood they obtained the information automatically these days. In any case the written proof is on your renewal invitation.

[#5]

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@Mayfly wrote:

I always have asked for a discount and always get something. I have 2 main insurers who I switch between most years as they give me the best value for money. It is a pain having to go through all the questions every time you switch, especially when you have been with them only 12 mths ago and nothing has changed.

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There's a chance that you may be swapping between elements of the same group too. 

[#6]

There's a chance that you may be swapping between elements of the same group too. 

Yes , I've just had to do that. Had Home INS with Direct Line, they wanted a 25% increase on last year but Churchill (both are actually U.K Insurance) would do exactly the same policy for no increase. Rang Direct Line but they would not budge, fine I said I'll go with Churchill and you will have the additional administration costs of reissuing all the paperwork, crazy!

[#7]

Quite amusing finding this thread on here. The headline issue is the ripping off of loyal customers and here we are discussing it on a broadband site which specialises is subsidising all of its new customers for 18 months or so by overcharging its own loyal customers.

I recently threatened to leave and was immediately offered a near half-price deal. Not different in any way from the various insurance etc. companies.

[#8]

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@MisterW wrote: Yes , I've just had to do that. Had Home INS with Direct Line, they wanted a 25% increase on last year but Churchill (both are actually U.K Insurance) would do exactly the same policy for no increase. 

The opposite for me!  Churchill put up my Car Insurance 30%.  I contacted Direct Line and got exactly the same cover for only 60% of the Churchill quote.  I told Churchill, but the agent said he couldn't get anywhere near the DL price.

[#9]

The first thing I do after renewing is to make sure any auto-renewal is cancelled.

A year later it's like a lottery with quotes varying so wildly it's laughable.

[#10]

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@Mav wrote:

The first thing I do after renewing is to make sure any auto-renewal is cancelled..

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Absolutely. Almost every insurer asks if you'd like them to retain your card details for renewal. I always say NO! But on top of that it's best to check by phone that any autorenewal is cancelled and also check your renewal letter next year to make sure that it doesn't say they'll renew if you don't get in touch.

Sneaky lot!