Let's teach them a lesson!

JerryK_2

I received a renewal advice from SAGA for my home insurance - which would take place automatically unless I contacted them soon. Price was up on last year (over 500 in total - for a bog standard, no specified items etc policy). I went through the hassle of searching for a better deal and found very many. This is a very time-consuming process. Then I phoned SAGA to cancel, and they of course said they may be able to match the competing quote. I explained to them that this is something they could have done before offering me the renewal. That would have been good service and would have saved me time. As it is, they - in effect - tried to rip me off, perhaps hoping I would not notice. Why should I give them the business, if they have that attitude? So I am going with a competitor.
My suggestion is this: When insurance companies put up their rates quietly, or banks lower their savings rates, quietly, presumably hoping we will not notice till later, we should teach them a lesson - one which will discourage them instead of rewarding them for bad practice.
I would welcome suggestions of how to shaft these people who wish to shaft their customers. The most obvious is to take our business elsewhere, but I'm sure there are other effective ways - like clicking on their ads and costing them money etc, etc.
Let's teach them - service SHOULD be included! :money:
J

McKneff

Every company does this trying to get as much money out of as many people as possible in the shortest possible time. You will probably find it rife in all your other dealings. The utility companies do it. Sames as supermarkets, currys, comet who say they will price match. They are all the same if they think they can get away with it. The company you have gone with will probably do it next year. Its a case of keeping on your toes.
Vengence isnt an option - look on it as them giving you a challenge and keeping your brain cells active.

rudekid48

Out of interest, who did you move to? The reason I ask is that there are probably other threads on here complaining about that company doing the same thing that Saga have done to you!

Unfortunately, it is the way of the world at the moment and will continue to be for some time. It is so competitive to gain new business that most companies go with loss leaders and try to recoup some of the money at renewal and/or with higher charges when people make changes mid-term.

Most companies will target themselves to achieve a least a 60% retention at renewal and most achieve this. This means that there are still a huge amount of people out there that don't shop around and so in a way you could make a case to say that we all owe those people a big thankyou, as they are funding the cheaper new policy prices that more savvy people find.

Having said all that, don't automatically assume that cheapest is best - especially with your home cover. Skimping on quality for a few quid could be the biggest mistake you ever make if the worst happens.

Garetha

I've insured with the same company for the last 7 years (LV).
They were the best quote back then and I've always shopped around but not found a better quote.
This year the renewal was a bit up on last year - £650 (house + contents) - I shopped around as usual (most companies don't even quote for a thatched property so it's a short list) - one quote was £3,400 :eek: - and even the best alternative was over £1,000.
I then rang LV and asked them if they could reduce the £650 (tongue in cheek, not expecting anything) - got it for £450 :j

The moral: always ask for a reduction