First Direct Car Insurance

mantis7

Hi all,

Have been successfully using the Car Insurance system from this website for the last three years to get my car insurance down.

I did so again this year and checked First Direct due to the mention here.

My Insurance premium for last year was approx. £700 and the year before it was approx. £850, all the quotes I was getting for this years insurance were approx. £600 - £650.

However when my current insurance companies (Prestige Insurance's) renewal papers came through, the renewal premium was £950! I was shocked to say the least and could not imagine why they would have increased my premium by £250 from the previous year. When I rang them they offered the feeble excuse that because I was given very competitive quotes for the last 2 years, this years quotes was more in line with the rest of the industry.

When it came to filling in the details for First Direct, I mentioned that my current renewal quote was £600 as that is what I had been receiving from the other insurance companies.

I got my car insurance with first direct on the 24th September for £540 but received a phone call from them yesterday where they require an additional £300 if I want to continue the policy or I can cancel it and receive a pro rata refund minus a £30 admin fee. However First Direct wont specify in writing how much the refund will be before I accept it

Any ideas as to how I should proceed? I'd appreciate any advice you can offer.

Many Thanks

raskazz

Cancel it and get your pro-rata refund minus £30 then set up a policy with one of the insurers who offered you a price in the region of £600.

First Direct clearly state (I have emboldened the relevant part):

"The availability of the offer is subject to the requested cover falling within the underwriter's normal underwriting criteria and is available through Equity Insurance Brokers Limited. This is also subject to a minimum £100 damage, fire and theft excess and a minimum renewal premium of £200 comprehensive cover (£120 non comprehensive). Qualifying customers will be offered a Car Insurance renewal quotation at least 10% (or 15% for second and subsequent policies) lower than their current insurer's invited renewal premium, on as close to equivalent terms as the underwriter makes available subject to the customer providing sufficient evidence of their current insurer's invited renewal premium."

mantis7

Thanks for the advice, I'd been considering canceling the policy, suppose I just needed to hear it from someone else.

Thanks