WARNING. Direct Line renewal

lordhaldon

I have had my house and contents insurance with Direct Line for the past 3 years. Being a busy chap I have never looked at it - until this renewal. I telephoned them and told them to cancel it and they immediately - without any prompting reduced the premium by 40% The warning is don't get complacent. Always check. I will!:beer:

huckster

Makes you think whether these companies have another price listed on their records which is only revealed if you phone them threatening to cancel.

Shocking way of conducting business if this is what they are doing.

When I first started out in Insurance, I can remember analysts checking into the competiveness of premiums and looking to retain atleast 90% of Home policies. This was provided the business was economical to keep in regard to claims v premiums. But I suppose the world has changed, with these companies now making losses. I noted the other day that RBSI had made a loss of over £30 million. Perhaps they need to look at their business model ?

lordhaldon

True. The conduct makes you want to move Companies but ....................

mikey72

I take the view if they will happily smile and rip you off at renewal, what will they be like later?
I won't re-new if they won't offer me the best price first time.
They're still able to make money at 40% off the first offer, so they are obviously not rewarding loyalty.
Then again, they're all the same, so I usually move every year anyway.

adamc260

My friends car insurance renewal come through from DL, we searched on all the comparison sites, aviva, direct line themselves.... and we still couldnt beat the renewal

jollyme

Well, I've just had DL renewal -silly money!! Did an online quote with DL for same details (well I think it is) and the premium offered is something like 50-60% of the renewal. What is going on. Perhaps I'll ring them tomorrow or perhaps I'll vote with my feet.
Thoughts people!!

mikey72

jollyme wrote: »

Well, I've just had DL renewal -silly money!! Did an online quote with DL for same details (well I think it is) and the premium offered is something like 50-60% of the renewal. What is going on. Perhaps I'll ring them tomorrow or perhaps I'll vote with my feet.
Thoughts people!!

Seems normal. they're just hoping you don't notice, or don't cancel the auto renew in time.

G_M

This is standard across the insurance industry.

I review house, ca,r breakdown etc evry year and always beat the renewal quote, sometimes by moving, sometimes just be threatening to move.

Quote

Well done.

MCIBS

You're lucky!

Despite the fact that I've earned a full 10 years NCD on my Buildings & Contents Insurance, Esure recently tried to bump up my premium by (wait for it.....) 73% in one year. When I phoned to query this, they simply weren't interested. When I emailed them on 19th November, asking for an explanation, they acknowledged it and said they'd get back to me. As of today (1st Dec) I'm still waiting.

If I get a reply, I'll post it on here.