house insurance - is their price fixing going on?

jenz

I have followed Martins tips on renewing house insurance, and used the screensaving websites and got some really good quotes.........saving £120 max.

Phoned my insurance company and tried to barter with them, they spent ages going through all the details and asking who the companies were that were offering the deals etc but in the end they would only match the previous years insurance price (a fiver off) so I told them to cancel it. Went back online and tried AA first which was like for like, but I kept having trouble with their online system so telephoned them. They found up my details asked some more questions including who my existing insurer was and the policy number - I decided to play dumb and say I couldn't remember- sorry they said the company they had got for the cheapest quote needs the details. I reluctantly gave them it and they came back with a figure which was more or less what I am paying now.

I have just spent the past couple of hours going through the rest of what the screensaving websites threw up, but every time I proceed with a cheaper option the price has changed to within a couple of quid of what my renewal quote was!

I know they keep everything on a central data but this really does seem strange that the final costs have increased.

---lee---

jenz wrote: »

They found up my details asked some more questions including who my existing insurer was and the policy number - I decided to play dumb and say I couldn't remember- sorry they said the company they had got for the cheapest quote needs the details.

The reason they are asking this information is because they are brokers so if it's an insurance company that's on the panel, they can access your quote to see what you paid. Also, they need the cover start date - without that, it's impossible to quote as prices change all the time. It’s also a good way of getting rid of timewasters who are trying to say that they have a cheaper quote when they don't - remember the sales reps are on commision so they don't want to waste time.

I have just spent the past couple of hours going through the rest of what the screensaving websites threw up, but every time I proceed with a cheaper option the price has changed to within a couple of quid of what my renewal quote was!

That's what I don't like about aggregator websites. Once you refine the risk information, the premiums nearly always change.

I know they keep everything on a central data but this really does seem strange that the final costs have increased.

Only very limited information is shared to protect against fraud (claim info). Insurance companies are competing against each other and do not want to share any more data than necessary.

iceicebaby

The main information thats shared centrally is claims info in order to prevent fraudulent claims. Premium amounts are not shared between insureres