Insurance renewal a rip off?

Discussion in 'Motoring' started by chieftiff, Dec 16, 2009.

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  1. chieftiff

    chieftiff War Hero Moderator

    I got my insurance renewal today from the that well known vehicle breakdown recovery company where they used to salute you if you were a member (but don't anymore), I've been with them for over 10 years and normally just let them crack on and sort out my renewal on the basis that I know I'm paying a bit over the odds but hey, my time isn't cheap so running around getting quotes would cost me a few quid anyway.

    This year I got a bit upset at their idea of a joke, my renewal is £789 after their supposed member discount of £320, I'm 43, married, 12 years no claims, no points and no convictions ever! This for a little 1.8l MR2.

    So, I have a go at one of those websites where the annoying guy sings whilst hovering over a BMW, the most expensive quote I got was £359! I finally settled on an insurance policy at £348 which includes breakdown and home start and every other benefit my current insurance has (I will therefore now be cancelling my breakdown cover with aforementioned company who think I'm some sort of cash cow)

    So, does anyone know what the score is here, is it simply that companies feel they can happily ripoff their loyal customer base or are all the other companies running some sort of loss leader to trap new customers? There is one hell of a disparity between what I was offered and what I can get by shopping around.
  2. Your 'recovery' company are only a broker and are fixed to a limited number of insurers, unlike the fat singing bloke's company so they cannot compete due to the choice offered by the annoying b'stard, who has fcuked my mute button by the way, and his company's website
  3. Looks like they got confussed with a first time driver with a string of convictions.
  4. Have a look at Ford Insure, they may do you a good deal
  5. Unfortunately the insurance companies and brokers are betting that you'll think it isn't worth the effort to shop around. They usually bump up your renewal quote hoping that you'll just pay to avoid the hassle of getting other quotes, cancelling direct debits etc etc.

    That's why it's always worth shopping around - you might even find they call you to find out why you're not renewing. In that case, you can haggle or tell them to fvck right off.
  6. I had the same experiance with LV renewal price 620 over 170 more than lasdt year .I did not go with them again went with hastingd 388 thats with a named driver onthen a bit later got a letter warning me abouit the pitfalls of not been insured along with a new qoute (this is about 5 weeks apart)for 675 they are taking the piss :D
  7. Yup,

    Agree all above.

    Shop until THEY drop, then drop 'em all some more - Takes time but will save you absolutely £££s (and gives you a high almost as good as S*X.) :wink:
  8. You should have phoned them and told them of the cheaper quote and asked if they could match it. They usually will or if not advise that you cancel and start again as you would then qualify for new business premiums.
  9. Once they've got your first year trade they hope you'll assume they are cheaper every year thereafter and won't look round again. I've been stung in the past, sometimes due to my laziness not shopping around but also been away when it was up for renewal and they happily renewed it for me. I was paying double for a few months until I checked my bank statements and realised.

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