Am I being overcharged?

Needsadvice1

I have been a customer of Prudential for a number of years. I am 45 and my partner, who is the second driver, is 51. We have just the one car between us, a Ford Focus. This year, my insurance quote has once again increased, this time by £36. My cover is comprehensive, with £0 voluntray excess, £100 compulsory fire and theft excess, £75 excess for winscreen replacement, £10 excess for windscreen repair. It includes legal expenses and breakdown cover. I have made one claim, back in 2010, when someone had crashed into my car one night and drove off without leaving their details (behaviour which I thoroughly deplore). The insurers paid out £830 on this claim.

The amount of my premium is £540.....and here is the rub. My partner is an employee of the Prudential and this quote includes a staff discount!

I have shopped around online and found that the RAC can offer the same level of cover for £360 and when I add in breakdown cover it comes to £437. This is with a voluntary excess of £0 and a compulsory excess (I assume this is the same as the fire and theft one I have currently) of £100.

I have put this to Prudential who claim to be amazed that this cover is available with £0 excess. They are adamant that they cannot offer me a cheaoper quote. I emphasised to them that I was amazed that their premium was so high because (a) I have been with them for years and (b) we enjoy a staff discount thanks to my partner's employment.

Of course, I am going to switch to the RAC as they are cheaper. What I was wondering is if anyone might have an diea why the Prudential premium is so high in comparison and whether or not over £500 for careful drivers is excessive? Prudential are now underwritten by UK Insurance and not Churchill. Thanks in advance to anyone who responds.

Quentin

If you ask for quotes from the online comparison sites, you'll find a much bigger difference than £100 between the highest and lowest quotes.

So not a lot you can read in to what you have found by shopping round.

Kazzea

No idea why insurers differ so much - the lesson is to ALWAYS shop around EVERY year. Plus go through quidco for your RAC car insurance and get £75 cashback - it will take a month or two to come through but its money back in your pocket

Welcome to MSE

PS - here is a link to a guide to cashback sites (inc Quidco)

http://www.moneysavingexpert.com/shopping/cashback-websites

Needsadvice1

Thank you very much, Quentin and Kazzea. Thank you very much indeed.

I have heard a rumour that if you remain with one company, rather than give you a discount for loyalty they may actually hike your premium up as they think you will accept the extra charge for an easier life or maybe they think you can't be bothered to do your homework and shop around. It wouldn't surprise me if that was true in this day and age which can only serve to emphasise the importance of shopping around. Certainly it has gone up every year with Prudential, and I am fed up with it!

Thanks again.