When filling in a quote for car insurance do you lie on your renewal price?

Woby_Tide

given the fact that a lot of insurers change their quotes depending on which internet intermediary you go through i.e Quidco/Google it seems a bit trite to suggest that messing around with prices is a consumer only thing

FlameCloud

MDE wrote: »

Yes I have knocked £20 or so off my cheapest price when getting other quotes. I still often find that the quotes I then get aren't any cheaper than the original so it doesn't seem to make a huge, if any difference!

None of them make a difference to my premium so maybe we should stop getting childish about it.

If it makes any difference at all it is fraud. Whether or not the underwriter takes any action is irrelevent if you want to stay honest with an insurer.

judderman62

I have never encountered the question when renewing my car insurance

greco_2

FlameCloud wrote: »

raskazz is a motor underwriter, I am a fraud investigator. So yes, we do know quite alot about insurance.

The value you put in isnt for market research, as some people here have found out- it will alter the price given depending on what you put in. That, makes it a material fact, and lieing about it can void the policy, whether or not you want to believe it.

Which is not the same as saying that you get it right every time.

FlameCloud

greco wrote: »

Which is not the same as saying that you get it right every time.

No, but it does beat throwing CII qualifications into the mix, like you did.

Insco

Nex0 wrote: »

Hi

Basically has anyone actually put in a much lower amount on a quote when asked what your current renewal is?

When I did this on one site I could save around £220 which is obviously a lot of money!!

It just annoys me how much the insurers are happy to rip you of and with a little bit of digging how much they are happy for your to be paying for your insurance.

What happens if you don't put any amount in Nex0?

A competent prudent Insurer should be able to evaluate the premium that they want to charge without having to know what other Insurers want to charge.

TighterThanTwoCoatsOfPain

Insco wrote: »

What happens if you don't put any amount in Nex0?

A competent prudent Insurer should be able to evaluate the premium that they want to charge without having to know what other Insurers want to charge.

This is the crucial bit for me... obviously will have to bow down to the greater knowledge on this thread.. i can only relay what people who work for insurance cos have advised, and indeed some insurance Reps (perhaps not underwriters).

In my experiance i have never had a price change due to the a quoted renewal value, infact on my most recent years insurance (starting on Saturday!) i wasnt even asked what my renewal price was!

Personally i'm at the point where companies only vary by £20-£30 a year so not worth jumping through the hoops anymore to save buttons.

I'm now interested as to which insurer specifically on confused it was (unless i just overlooked it in the thread) as am dying to see this for myself as i find it bizarre!

Razkazz - Serious question, from an underwriters point of view, why do you give a !!!! that insurance co xyz will insure a given risk for say £800, if you're company assesses the risk to be worth £900? Surely the risk you assess is the risk? Their quote doesnt take into account your companies penetration in a given post code / age group etc etc. Surely the thrill (or whatever reason!) of beating a competitors quote (real or otherwise) isnt worth the risk to the companies portfolio?

judderman62

TighterThanTwoCoatsOfPain wrote: »

This is the crucial bit for me... obviously will have to bow down to the greater knowledge on this thread.. i can only relay what people who work for insurance cos have advised, and indeed some insurance Reps (perhaps not underwriters).

In my experiance i have never had a price change due to the a quoted renewal value, infact on my most recent years insurance (starting on Saturday!) i wasnt even asked what my renewal price was!

Personally i'm at the point where companies only vary by £20-£30 a year so not worth jumping through the hoops anymore to save buttons.

I'm now interested as to which insurer specifically on confused it was (unless i just overlooked it in the thread) as am dying to see this for myself as i find it bizarre!

Razkazz - Serious question, from an underwriters point of view, why do you give a !!!! that insurance co xyz will insure a given risk for say £800, if you're company assesses the risk to be worth £900? Surely the risk you assess is the risk? Their quote doesnt take into account your companies penetration in a given post code / age group etc etc. Surely the thrill (or whatever reason!) of beating a competitors quote (real or otherwise) isnt worth the risk to the companies portfolio?

As I said in an earlier post I have never been asked this - am I really the only one

Also I would not answer it if I was - it's up to you to give me the best quote YOU can - never mind what Fred Bloggs have quoted me - give me your best quote

TighterThanTwoCoatsOfPain

double post

TighterThanTwoCoatsOfPain

Just to follow up my bleary eye'd post from last night,,,

In addtion to my answer to the question not actually changing the assessed risk to the provider, how does the insurer get any comfort that the quote is Like for Like?

There are so many little things / options which are bespoke to insurers which vary their own prices.

eg.
Courtesy Car - Guaranteed / Not Guaranteed / Doesnt have one
Driving abroad - 3rd party only / fully comp / not available
Driving Other cards - Yes / No / not until you're 25
No Claims - Protected / guaranteed / not available for 5 Yrs (but 4 or 3 in cases)

Given that my 'renewal' which is what people sometimes ask for (and NEVER a L4L quote) i cant see as it is material given any of the other factors could change the quote by £100s.