Small print,how can Insurance companies renew premiums without authority!

dunstonh

This website tends to encourage people to save money by shopping around. There's a good reason for that.

It encourages you to check but it doesnt mean it will be cheaper.

Just out of interest, where did you get your 3/4 of policyholders statistics? I find that hard to believe considering the success of all the comparison sites.

Comparison sites still only handle the minority of transactions. They may have high profile adverts and a strong internet presence and are building market share but they dont control the market market yet. The stats are industry published stats. We get fed lots of rubbish stats periodically. Someone posted the exact figure a few months back but it just over 75%. Remember that changing every single year is unusual. Normally you would expect 2 or 3 years before a change unless you are specifically targeting providers that have a high first year discount.

I havent changed my car insurer in over 3 years. Each year they cannot be beaten. My wife's changed this year but she had the same one before that for about 4 years.

mikey72

dunstonh wrote: »

It encourages you to check but it doesnt mean it will be cheaper.

Comparison sites still only handle the minority of transactions. They may have high profile adverts and a strong internet presence and are building market share but they dont control the market market yet. The stats are industry published stats. We get fed lots of rubbish stats periodically. Someone posted the exact figure a few months back but it just over 75%. Remember that changing every single year is unusual. Normally you would expect 2 or 3 years before a change unless you are specifically targeting providers that have a high first year discount.

I havent changed my car insurer in over 3 years. Each year they cannot be beaten. My wife's changed this year but she had the same one before that for about 4 years.

Who are they?
Maybe we should start a survey.
Who's had a cheaper renewal from their existing company, as opposed to a cheaper quote from shopping around?

Triffle_2

dunstonh wrote: »

It encourages you to check but it doesnt mean it will be cheaper.

Comparison sites still only handle the minority of transactions. They may have high profile adverts and a strong internet presence and are building market share but they dont control the market market yet. The stats are industry published stats. We get fed lots of rubbish stats periodically. Someone posted the exact figure a few months back but it just over 75%. Remember that changing every single year is unusual. Normally you would expect 2 or 3 years before a change unless you are specifically targeting providers that have a high first year discount.

I havent changed my car insurer in over 3 years. Each year they cannot be beaten. My wife's changed this year but she had the same one before that for about 4 years.

Hmm still no source info or anything to specifically back up what you are saying.
Sorry Dunstonh, but I'm a truth seeker and don't accept woolly info.

I don't "target providers that have a high first year discount" because I didn't know there was such a thing. But if you can tell me which ones offer a high first year discount, I will do so in future!:D

I'm up for a survey, Mikey!
I would love to save myself the time of comparing different companies to get the cheapest insurance option.

Hey, I wonder if that 75% includes figures for unwanted automatic renewals that are subsequently cancelled.....;)

shelly42

mikey72 wrote: »

Complain, and you have no success, complain to the ombudsman. Even if you get no joy, they will suffer cost and aggravation, if there are enough complaints maybe they will change the policy eventually.

And what will have to increase to cover this cost?

Yes, premiums.

And who pays those?

Yes, everyone does.

So I'll thank you in advance for not wasting my money making stupid complaints which have no grounding and have only arisen due to your own inability to read and understand your policy conditions.

mikey72

shelly42 wrote: »

And what will have to increase to cover this cost?

Yes, premiums.

And who pays those?

Yes, everyone does.

So I'll thank you in advance for not wasting my money making stupid complaints which have no grounding and have only arisen due to your own inability to read and understand your policy conditions.

I'd even send one in for you.
:rotfl::rotfl::rotfl: