Renewal Question

money_maker_2

Hi All,

I know that when you sign up with a new insurance company you often get a nice little introductory discount.

When the renewal comes through its usually more than the previous year (has been for me anyway, even with increased no claims etc) and the reps always say that it is because you had a new customer discount at the start blah blah blah.

My question is- If your renewal comes through and is higher, can you decline the offer and cancel, then be quoted from scratch with a brand new application as a new customer?

Quentin

Yes.

(Don't use the word "cancel" when telling them you don't want to renew, but tell them you want the policy to "lapse" - over zealous agents have been known to seize on the word "cancel" and do so, triggering their cancellation charge)

money_maker_2

Quentin wrote: »

Yes.

(Don't use the word "cancel" when telling them you don't want to renew, but tell them you want the policy to "lapse" - over zealous agents have been known to seize on the word "cancel" and do so, triggering their cancellation charge)

Thats interesting. My friend has told me she tried to decline a renewal and asked for a new quote as a customer, but the company (not sure who she was with) said they could not offer her that choice. She wanted a new quote with them because she did a comparison online and her company came up cheapest - much cheaper than what her renewal was offering.

She gave the quote ref number that she got online to the rep and he told her it was not to be used, even went as far as saying she would be commiting fraud by trying to beat the system with a new quote and she had to either go with the renewal or to find a new insurer.

Sounds very odd to me!

Thanks for the advice though! Will make sure not to use the word cancel when I come to renew.

keith1950

Hi , do as Quentin says and let your current policy lapse then sign up with the same company online possibly through a cashback site-I don't understand why so many people feel the need to speak to someone-do it online.