Shocking Lloyds TSB Insurance Renewal Quote

HugoRune_2

Just had my renewal through, from memory, last year was just over £200, previous year to that on a slightly cheaper car was about £170, only change in my status from last year is an extra years no claims bonus, new quote £414 !!!!

Is this an attempt to sting a loyal customer? Utterly Ridiculous.
Anyone else had this sort of a ridiculous hike?

Anyhow, more than will do it for 250, plus I can get £25 cashback so not too bad overall, just horrified that companies will try to fleece customers like this.

Anyhow rant over

Biffer

I had a similar thing with Directline and just saved over £1,000 by switching to Admiral Multi Car. DL really take the pee with long term customers, the types like myself that don't even look at the renewal forms. In this day and age it seems that loyal customers pay more than new customers, which I find bizarre.

We had 3 cars insured with DL. 3 years ago we were paying about £500 per car, 2 high group cars with lots of NCD and one low group car with no NCD. I was happy with the main two cars at £500, it seemed like a good price. We only used the people carrier occasionally, so I recently took that one off the road. I thought this was too expensive at £500 per annum, but as DL had pointed out to me, it had no NCD.

I haven't been looking at the renewal forms these past few years and didn't realise that the 2 high group cars had gone from £500 to almost £1,000 per annum each!

I did a new quote online with DL themselves first and for both cars it was £400 cheaper than what I was paying! I spoke to them up about this but they didn't seem that worried and certainly didn't offer me any reduction.

I decided I'd had enough of DL and would switch to another company on principle. I went with Admiral on a recommendation and they insured all 3 cars for just £1,100 per annum.

The DL retentions team still had a go when I went to cancel the policies. They didn't have much of an argument when I told them I'd be saving almost £1,400 on the 3 cars.

It seems to me that after you've been their customer a few years their computer system must automatically flag you as a mug. At which point they push their luck and try to increase their price by 100%. 10% they might get away with, but 100%, come on!

Kristobelle

I have received a letter from Marks and Spencer informing that unless I contact them they will automatically renew. To renew with the existing Insurer (Aviva) would cost an astonishing £722.23. They offered an alternative insurer for £371.11 but I would need to ring up and ask for it. MoneySuperMarket.com offered a ‘Marks and Spencer’ quote for £280.31. My final quote with my new insurer came in at under £250.

Besides the outrageous premium I also note that my NCD is supposed to be protected. That is of little value should I be unfortunate enough to have an accident and be forced to continue with my current vastly over-priced insurer in order to get the discount. So effectively the discount has been rendered worthless.

mikey72

Kristobelle wrote: »

I have received a letter from Marks and Spencer informing that unless I contact them they will automatically renew. To renew with the existing Insurer (Aviva) would cost an astonishing £722.23. They offered an alternative insurer for £371.11 but I would need to ring up and ask for it. MoneySuperMarket.com offered a ‘Marks and Spencer’ quote for £280.31. My final quote with my new insurer came in at under £250.

Besides the outrageous premium I also note that my NCD is supposed to be protected. That is of little value should I be unfortunate enough to have an accident and be forced to continue with my current vastly over-priced insurer in order to get the discount. So effectively the discount has been rendered worthless.

Make sure you cancel the auto renew, and tell them to confirm it in writing.
If they won't, send a letter recorded delivery to them.

dunstonh

Anyone else had this sort of a ridiculous hike?

No. The other dozen or so threads a week we get on this forum are not real.

Anyhow, more than will do it for 250, plus I can get £25 cashback so not too bad overall, just horrified that companies will try to fleece customers like this.

How are they fleecing you? They offered you a price, you didnt like it and found cheaper and have gone with that. Thats retail for you.

MoneySuperMarket.com offered a ‘Marks and Spencer’ quote for £280.31. My final quote with my new insurer came in at under £250.

I renewed my car insurance today. For the first time in 5 years, I have changed insurer as the current one was not cheaper. I used Moneysupermarket and M&S came in about third but they offered what i wanted and I went with them at £480. I thought I would get a requote via M&S Money as they give 1000 points on your M&S card. After putting in all the details, the premium was £1100. More than double. So, I ended up buying an M&S arranged policy via moneysupermarket that was more than half the price than buying an M&S arranged policy via M&S.

HugoRune_2

dunstonh wrote: »

How are they fleecing you? They offered you a price, you didnt like it and found cheaper and have gone with that. Thats retail for you.


QUOTE]

They arent fleecing me because it isnt going to work, but like I said I do think its an attempt.
I guess I am harking back to an era when companies looked after their customers and valued their loyalty rather than trying to extract every penny they can from them by whatever means. Thats world has gone now I know, its just such a pity.

freddi_2

I renewed my car insurance with Swinton, £104 and £60 cash back so £44 for a year's car insurance.

Beat that.

Quote

My car insurance is better than yours. Beat that.

dacouch

The thing with the £44 pound Swintons policy would be in the unlikely event you ever need to cancel it, you would have to pay them about £110+

gordikin

freddi wrote: »

I renewed my car insurance with Swinton, £104 and £60 cash back so £44 for a year's car insurance.

Beat that.

Good luck if you have to claim...Swinton have a dreadful reputation on MSE!

dunstonh

I guess I am harking back to an era when companies looked after their customers and valued their loyalty rather than trying to extract every penny they can from them by whatever means. Thats world has gone now I know, its just such a pity.

I am sure the companies would like to hark back to the era where consumers were loyal and they could reward them accordingly. It works both ways. Modern pricing is largely based around quote portals on the internet. Not local, face to face contact with real people to real consumers.