No loyalty for renewing with Co-op

Geoffo_M

I bought my car insurance online through the Co-op last year, paying £158. I have just received the renwal notice quoting £196. Shocked by the 24% increase, I thought I would check that the online was similar. I thought it might be a bit less, but it came out at £167!

I phoned Co-op 0845 renewal number to see if there had been a mistake, and was told no, that figure was correct. She couldn't justify the £30 extra, and when I said that if I stayed loyal to the Co-op and renewed every year. it would cost me £30 extra (20%) - and she said yes, because I have to pay for "more overhead costs".

She agreed that policy holders should ignore postal renewals - and always renew online.

dunstonh

Shocked by the 24% increase,

you shouldnt be. Many (if not most) give a first year discount. So, you should expect it to go up in year two. Some to counter that do have extended no claims discounts (which are in effect loyalty discounts) but you have to build those up over time.

She couldn't justify the £30 extra

Thats because they are almost certainly not qualified to understand the pricing and mechanisms. If they were, they wouldnt be answering the phones.

*Jane*

Same happened to me with churchill they sent renewal notice for £235 looked on line and it was £170 with free breakdown cover thrown in as well, rang to cancel and said i would apply on line and the woman i spoke to just matched the online price, and i got the breakdown cover, will do same next year and if they wont match will go elsewhere.