Lowest admin charges for car insurance

ceh209

I know I'm going to be moving house during the next year, but it seems practically impossible to find out who charges what admin charges for changes during your policy.

Obviously I'll have to accept a change in premium (I expect it will go up, based on where I want to move to!) and I'll do quotes based on both areas for comparison, but does anyone know what any companies charge as admin fees for changes?


ETA: Shock horror, just did some quotes and the best is £16 cheaper in the new area :eek:

InsideInsurance

Its very practical to find out as each insurer/ broker will declare it, its just a pain that you have to go through each website to find out rather than having them all in one place.

Fees can be anything from £0 to £50 (realistically) and so just check the ones you have short listed that are in this sort of range of prices difference

Be careful when looking at brokers and getting new business quotes for the two different areas as the underwriter may be different with the two prices but once you buy and do the mid term adjustment they will have to stay with the same insurer and so the revised price may be wildly different to that which you'd get as a new customer put onto a different insurer on their panel.

ceh209

Be careful when looking at brokers and getting new business quotes for the two different areas as the underwriter may be different with the two prices but once you buy and do the mid term adjustment they will have to stay with the same insurer and so the revised price may be wildly different to that which you'd get as a new customer put onto a different insurer on their panel.

Yes I did think that, fortunately although the lowest quote is with a broker, it does say both quotes have the same underwriter. :beer:

Do they have to declare it? One I've been with before I'm sure they said something like 'we reserve the right to charge a fee of up to £50', and when it came to me moving before, it was actually £20?

JimmyTheWig

InsideInsurance wrote: »

Its very practical to find out as each insurer/ broker will declare it, its just a pain that you have to go through each website to find out rather than having them all in one place.

Yes, would be good if the comparison website had an option for "number of changes during policy" and added that cost to the total presented.

[Are you listening, @MoneySupermarket?]

InsideInsurance

ceh209 wrote: »

Do they have to declare it? One I've been with before I'm sure they said something like 'we reserve the right to charge a fee of up to £50', and when it came to me moving before, it was actually £20?

If they are saying up to £50 then they are declaring it.... just it is variable. They have to declare the maximum it will be, effectively anything less is a bonus!

For example with a previous client they charged up to £X, if the change made for a refund and it was less than £X then they reduced the admin fee to simply balance out the refund (rather than saying your premiums are going down but you need to pay us more because of the fee).

Likewise for small premium increases of say £5 they have a stepped approach to the admin fee which very roughly was they'd up to double the premium increase until the increase exceed £X at which point the admin fee was the full £X no matter how much more the change incurred.