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CredController

Do providers tend to reduce premiums nearer Xmas to attract more business?

I ask because I got a best quote of £133 two weeks ago and £127 today.

I don't ned to buy for 2 weeks so should I wait longer.

The industry seems to be very competitive with all sorts of companies involved.

huckster

Most Insurers no longer use static rates. They can vary from day to day, sometimes hour from hour.

So just arrange when you need to. Don't leave it until the last minute, as you never know rates might increase. However most quotes are valid for a few weeks, so you should be able to go back to use the best quote, as the basis to arrange the policy.

mrsw

CredController wrote: »

Do providers tend to reduce premiums nearer Xmas to attract more business?

I ask because I got a best quote of £133 two weeks ago and £127 today.

I don't ned to buy for 2 weeks so should I wait longer.

The industry seems to be very competitive with all sorts of companies involved.

I just phoned my insurance company about my renewal quote, and it has gone down £80 since a week ago!

Catatonia

It's unlikely that insurance companies would want to particularly attract lots of new business around this time due to higher risk of claims from flooding, burst pipes etc. But a fair proportion of the price will be varied by the brokers varying their commission rates, and they can be a law unto themselves, and may want additional premium income at the end of the year to hit targets.