Insurance renewal...do you change every year?

cruger

My insurance renewal is comming up (I have not had the price through yet) and it looks like I am going to spend a bit of time searching around for better quotes as per usual. I have come accross this interesting tool which compares policies not price from Defaqto :-

http://www.defaqto.com/compare/motor-insurance

Last year I paid £280 fully comp with NC protection, legal cover,and £150 excess for Hond Accord 05 2.2 diesel from Nationwide. Nationwide policy comes out quite good on Defaqto so I hope it's not gone up too much otherwise I will look elsewhere. Do most people stay with the same insurers or do you shop around?

Trebor16

Shop around every year. Insurers extract the urine out of existing customers and it is not uncommon for a renewal to come through at X amount and to then go and get a new quote from the same insurer which comes in cheaper than the renewal.

Strider590

My insurance renewal came through £250 more expensive than the year before. I got a quote from my insurers sister company, which actually beat my last year quote. I then went back to my insurer and told them about this quote, they then reduced the premium by £280

blacksta

Hd a renewal come through at £1600 , found another for £977, Current insurance where happy to match the lower premium .

benjus

I just renewed with the same company - when I checked on the comparison sites they were still the cheapest, but the renewal quote was a lot more. A quick phone call and they dropped the renewal quote to match what the comparison site had quoted me. They're just after some quick profit from people who don't pay attention and just let it renew automatically.

colino

As a whole raft of the companies quoted on comparison sites are closely connected with each other (and the site too!) it really is just a big game when you renew insurance nowadays. Just pity the poor people, generally the elderly who believe in "loyalty" and not only stick with the same insurer each year, but don't even get the decency of the best available quote.

colino

Apologies blacksta, forgot to mention your post. Why, on a point of principal, didn't you move insurers when they were milking you to such an extent? An extra £600+ pure profit from you if you didn't quibble shows their intrinsic ethics.

hxm

I totally agree with colino. I shop around every year and have only once stuck with the same insurer because there was almost no difference between the renewal quote and the best one I could find elsewhere. On principle, I will never renew with a company who offers to match or slightly undercut a better quote after they have already given me one that was too high.

Also, don't forget to check what the cashback sites are offering. Last year I got £80 cashback from Aviva on a £230 policy

mikey72

I'll never use a pricematch either. If they can't offer a fair price the first time, they're not getting the chance to offer it later when they're caught out.

avantra

Yes, every year for the last 11 years, 'new client=cheaper deal', if they start change this model to 'loyal client with no claims= cheaper deal' it will save a lot of hassle to many people.

Hintza

Some ofthem even have the cheek to ask you what your renwal quote was when you are filling in the form. I just have to lob 25%-30% when I fill it in..........:rotfl: