Pulling my hair out with car insurance!!!

Jokaty82

My car insurance is due for renewal on the 28th Feb.

I paid £367 last year, fully comp, because paid monthly worked out at £397 (mini cooper 2002, no claims, no convictions, 6 years NCB etc).

Privilege sent my renewal form and its gone up a whopping £103!!! to £500 (paid monthly).

I rang them up questioned it, no detail have changed. I have 1 years extra NCB and my car is one year older so worth less money.
They wouldnt budge. They claim insurance has gone up due to the bad weather. Fair enough I say, but I havent claimed so why should mine go up. I would understand if stayed the same and not gone down but to go up.

So I cancelled.

Now I must have done about 20 online quotes incl all the comparison ones and the cheapest I can get is £372 with Direct Line. Still more than last year but least not £100 more!!

Has anyone else found the same? Its driving me round the bend if I am honest.

Tried cashback sites but normally those quotes are more expensive to begin with so not worth it.

anewman

Insurers expect you to simply stump up whatever they ask for at renewal time because it's a bit of hassle to cancel and find another insurer. It's part of their business model. Get you reeled in with a cheap insurance quote, then they hope to keep you. I bet a new quote with Privilege would also have been cheaper.

Jokaty82

anewman wrote: »

Insurers expect you to simply stump up whatever they ask for at renewal time because it's a bit of hassle to cancel and find another insurer. It's part of their business model. Get you reeled in with a cheap insurance quote, then they hope to keep you. I bet a new quote with Privilege would also have been cheaper.

Yes you are right it was but not worth it enough for me to go back with them, but their loyalty dept claimed they could do nothing, yet a new quote showed otherwise!!!

I have had insurance go up a few pounds or remain the same, then I have always found cheaper but never gone up by such a steep amount!

Inactive

I read somewhere that car insurance had gone up on average by 18% this year.

I have just renewed mine, the renewal quote was £141.87 which was £7 more than last year, a quick phone call got it back down to last years premium of £134.87 Fully Comp.

AdrianHi

http://www.privilege.com/ wrote:

Privilege Insurance is underwritten by Direct Line Insurance plc which is authorised and regulated by the Financial Services Authority

:rotfl:
And they are both owned by RBS which is now 84% owned by you... and me the tax payer.
I've had exactly the same experience except it's Direct Line massively increasing their premiums. I do wonder if it is a strategy to desperately bring in cash. Milk your existing loyal customer base for all their worth and try and get new customers in the door with good new custoner deals.
My home insurance is with Direct Line too for now, big increase there too.
I recently got a quote via Nationwide which was 20% less... it's from Churchill.
Last bit of amusement, in 2003 Churchill was bught by... RBS :T

I suggest playing them at their own game and moving to Direct Line. I've been with Direct Line since 1996 and think they are 1st class but I am naturally upset by the recent price increases so will have to move on next time I renew.

anewman

The more that customers cancel and go elsewhere, the less companies will employ this deplorable practice :beer:

whatmichaelsays

anewman wrote: »

The more that customers cancel and go elsewhere, the less companies will employ this deplorable practice :beer:

Why is it deplorable?

If people are too lazy to not bother looking for alternative quotes, then I'm quite happy for them to subsidise my cheaper insurance.

vikingaero

When you switch companies you normally get a new customer discount. So in switching to Direct Line you're a new customer. Crazy world that rewards new customers and not loyal customers, but that's the game so play it!

anewman

whatmichaelsays wrote: »

Why is it deplorable?

If people are too lazy to not bother looking for alternative quotes, then I'm quite happy for them to subsidise my cheaper insurance.

You make a good point. And on that note I just cancelled my RAC renewal. It wasn't too bad to be honest at £40.40, but I can get cheaper and cashback elsewhere.

casper_g

My renewal quote from Direct Line came through a fortnight ago, and they'd stuck the price up massively: from about £340 to £580!! I checked the prices elsewhere, and found admiral quoting £350. So, I rang Direct Line to cancel the renewal with them and lo and behold after speaking to the customer retentions people and getting a "loyalty discount" they were able to drop the price to £360.

What gets me is, if they can offer the policy for this price they were originally intending to cream off an extra 60% or so if I'd just let the renewal go through. I can understand "lazy" customers paying a little more than those who shop around, but this seemed a bit excessive!

Jokaty82

Hmmmmn Privilge wouldnt move at all on price.

Loyalty Department - what a joke, I said loyalty, what loyalty. You are willing to let me go as easy as that!! I dont exactly know what her job was as she couldnt do anything for me on the price?!?!