Insurance renewals

King_Nothing

I paid £1600 last year, my renewal came through at £2200, I ran a new quote with them (Admiral) and got £1600 (would be cheaper if an coffin dodger hadn't crashed into the back of me, allowing them to load my policy as a "more at risk driver", but at least it wasn't more than what I paid last year) that quote disapeared, but the elephant one stayed the same, so rang up and said I was going with elephant, but because they're the same company they could do it for that price.

But if I'd had accepted the renewal they would have given me a loyalty bonus of £50, woohoo!

hermum

But if they give you a good price you would stay with them & lose the chance of cashback.

Gettingtherequickly

I got my breakdown renewal last weekend and it has been hiked almost 22%, bearing in mind this includes my NCB discount. Went online and got the same with a different company for 44% less than my old company.

For my contents insurance earlier in the year, having sourced cover for 50% less, I was amused to get 2 letters after I had cancelled my policy, which had been acknowledged, advising that as a valued customer, I could have renewal at a special rate, one of which was more than the original cost!

biscit

tbw wrote: »

I know you're right - but they won't succeed with me. I guess I wouldn't be using MSE or PTS if I was as daft as a lot of companies would like me to be!

One way of looking at it is that the canny are being subsidised by the naive. The bit of work you have to do at renewals to find the better quote is what you need to take advantage of your canny person reward.

split_second

my home insurance is due soon, i look forward to fun and games

charlieann

The RAC did similar with my breakdown renewal this year. No claims yet it's more expensive.
I queried why it was cheaper for new customers and what was to stop me taking out a new policy. They told me this was not allowed, but after speaking to a supervisor they would match the price for this year only as it wasn't fair on other customers. They emphasized this was a one off and they would not do it for me again next time.
Next renewal I will ask again else let my policy expire and take out a new one the day after.

shaun_from_Africa

Next renewal I will ask again else let my policy expire and take out a new one the day after.

I don't know about the RAC, but if you try this with the AA & they find out (their computer system may pick it up), they cancel your membership.
If your policy expires, you have to wait 28 days before you can take out a new one at the introductory rate.