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Car Insurance Supermarkets Commission payments

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Hello all,

Just wondered if anyone knows what commission is paid to Car insurance supermarkets such as gocompare, confused, comparethemarket ect

Im asking as this could be a could negotiation tool when discussing renewal premiums!


More specifically the commission paid to comparethemarket by hastings direct as that looks like the lowest price at the moment

Thanks in advance! :beer:
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Comments

  • SimonSays
    SimonSays Posts: 716 Forumite
    Thats commercially sensitive information.

    If you tried that one on me when I worked in renewals and you threatened to go elsewhere I'd lapse your policy so fast for your cheek.
  • Quentin
    Quentin Posts: 40,405 Forumite
    What power you must have enjoyed
  • TSx
    TSx Posts: 867 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    The odds are it won't make a difference - the person will be able to discount the premium up to a figure on the screen, they aren't going to be able to listen to logic!
  • dacouch
    dacouch Posts: 21,636 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If this is Hastings we're talking about surely they should be paying you to insure with them, it would not be worth the risk otherwise
  • Norman_Castle
    Norman_Castle Posts: 11,871 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Its unlikely anyone working in renewals would know. Someone may be able to advise on how much you may be able to negotiate.
  • The other guys have more or less summed it up - renewal negotiations are nothing to do with logic as such. Agents will have discount limits (usually x%) that they are able to apply to a policy, plus they will often have the ability to price-match an online quote for their own company (as long as it's like-for-like).

    I would just tell them that you've got a cheaper quote elsewhere. Decline to tell them who with and how much until they've given you their absolutely best possible renewal price. If you feel that they're still not giving enough of a discount, call their bluff and tell them that you just need to confirm something with the new company before cancelling the renewal. If they won't budge then that's probably the best you'll get so call them back and take them up on the reduced price.
  • nobbysn*ts
    nobbysn*ts Posts: 1,176 Forumite
    1,000 Posts Combo Breaker
    Easiest way is to use a cashback site. You can usually get the best price then £50 or back.
  • rudekid48
    rudekid48 Posts: 2,382 Forumite
    Part of the Furniture 1,000 Posts
    The price comparison sites charge anything from £45 - £75 for each policy sold.
    All matter is merely energy condensed to a slow vibration, we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves.
  • jaylee3
    jaylee3 Posts: 2,127 Forumite
    1,000 Posts Combo Breaker
    SimonSays wrote: »
    Thats commercially sensitive information.

    If you tried that one on me when I worked in renewals and you threatened to go elsewhere I'd lapse your policy so fast for your cheek.

    As a boss, I would not have you as an employee; threatening to lapse people policies because they have the audacity to suggest they may go somewhere else. Good grief, what kind of Customer Service Assistant are you?! You're supposed to help people, not threaten them!
    (•_•)
    )o o)╯
    /___\
  • nobbysn*ts
    nobbysn*ts Posts: 1,176 Forumite
    1,000 Posts Combo Breaker
    jaylee3 wrote: »
    As a boss, I would not have you as an employee; threatening to lapse people policies because they have the audacity to suggest they may go somewhere else. Good grief, what kind of Customer Service Assistant are you?! You're supposed to help people, not threaten them!

    As he said, when he worked, key being worked, not works. Retention figure of 0% doesn't look good.
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