Admiral wanted £373, £130 more than my cheapest quote!!

*Kat*

I just don't understand their logic?! I've been with Admiral for 2 years now, so have 2 years NCB.

I ran a quote online (well a few) and found my cheapest to be £240'ish, called Admiral and told them, and they just didn't care when I said that'd I'd go to Tesco or More Than instead. What a hassle.

Well. I just looked at my renewal document - will this be accepted by other insurance companies? I called Tesco and they said as long as it said Two years, but I just want to double check.

carrottsforlunch

They probably don`t care , seems weird when there is so little money around and people are trying to get the best deals , that in a lot of cases these companies have very little in interest in trying to keep customers . Can`t get my head around it to be honest .
I would say they would accept that but just ring up admiral and ask for official proof of no claims , they should send you it if they can be bothered that is

rev_henry

Ok. Thanks for that.

Does that bit of paper not say 'Proof of no claims' at the top? There you are then.

Aretnap

Perhaps the business model goes something like...

Year 1 (and maybe year 2 at a push): underprice the risk and sell policy at an effective loss

Subsequent years: ramp the price up and make big profits from people who let it renew automatically.

So long as a critical number of people let it renew automatically it makes good business sense. Meanwhile if you're not going to renew automatically and will only stay if they give you the same type of premium as they gave you in year one then it's better for them to let you go than to keep selling you insurance what is effectively a loss leader price every year.

Whenever I've moved the new insurer has accepted the renewal document as proof of no claims.

ic

Is your question to do with the fact you've been on an accelerator policy and have gained your two years no claims bonus over 20 months, rather than 24? (304 days). Maybe, maybe not - depends on the insurers.

When I went with Tesco, they didn't even want to see proof, they contacted my previous insurers and confirmed the NCB themselves.

alun4

ic wrote: »

Is your question to do with the fact you've been on an accelerator policy and have gained your two years no claims bonus over 20 months, rather than 24? (304 days).

When my son had been on this type of policy for 3 PERIODS !, the problem was his date of birth and our claimed NCB time was rejected as an error on price comparison sites.

FreddieFrugal

People are still acting surprised by this.

It's pretty much a given that most insurers ask for a higher renewal amount and leave it to you to do the leg work in beating it down with alternative quotes etc. Reason being lots of people will still just renew stuff without bothering to look if it's a good deal.

I've never been offered a cheaper renewal - until I looked elsewhere

wba31

IanRi wrote: »

People are still acting surprised by this.

It's pretty much a given that most insurers ask for a higher renewal amount and leave it to you to do the leg work in beating it down with alternative quotes etc. Reason being lots of people will still just renew stuff without bothering to look if it's a good deal.

I've never been offered a cheaper renewal - until I looked elsewhere

I agree with this, my renewal quotes have never been cheaper than shopping around. I used to live with a mate who had just stayed with Direct Line for 8 years, and having had no accidents or incidents was paying £800 a year. When renewal came through at £750, I made him shop around and he got a quote of £250 or something like that... safe to say he moved...

FreddieFrugal

wba31 wrote: »

I agree with this, my renewal quotes have never been cheaper than shopping around. I used to live with a mate who had just stayed with Direct Line for 8 years, and having had no accidents or incidents was paying £800 a year. When renewal came through at £750, I made him shop around and he got a quote of £250 or something like that... safe to say he moved...

Lucky for him you were there with your head on!

If people weren't prepared to waste such a ridiculous amount of money then maybe renewals would be offered at a better price.

dacouch

Sexual equality

westwood68

Try getting an online quote with Admiral. If it's cheap enough, take it out then when they ask for prove of your no-claims bonus, give them their old policy details. That's what I've done before.