Insurance Renewal "CHECK YOUR QUOTE"

Richard_Pee

Dear all,


I have just received my Car, Wife's Car and house insurance renewal Paperwork from NATWEST in the post. I opened all three as I deal with the paperwork for the family. I was horrified as all three had increased by over £100.00 for renewal, went on line and got quotes from various websites as detailed in the regular e-mails and all came out considerably cheaper. So I decided to challenge NATWEST, as I thought there might be a mistake. What I surprise I got when they told me that a mistake had NOT been made but it was a policy Decision to increase the cot of insurance in case anything (Material Facts) had changed and I had not notified them of these changes. I am pleased to say that they have reduced all premiums down to last years prices but feel that everyone needs to be aware of this action by the insurance company, as it could be an industry wide policy that could cost consumers millions of pounds collectively. :j


The car insurance quotes are comparable to the online quotes for a like for like policy, therefore I intend to allow these to renew. However the house policy is even after reduction 4 times higher than a quote from Direct Line (Part of the same parent company) how can this be representative of an insurance industry that is supposed to be fair and reasonable to their customer s. :mad:


Richard Pee

OnanTheBarbarian

This is standard industry practice for the vast majority of insurers, hook you in as a new customer with an appealing premium and hope you just roll with the auto renew figure the next year.

agrinnall

The bad news for the OP is that this has probably been happening for years and had they taken action at a previous renewal they would be hundreds of pounds better off now. The good news for the rest of us is that he's been subsiding our premiums.

nidO

Richard_Pee wrote: »

how can this be representative of an insurance industry that is supposed to be fair and reasonable to their customer s. :mad:

"Fair" does not mean charging a price you'd like them to - They quote you a price, it's your decision whether to accept it or not.

If it's any consolation, in my experience Natwest's home insurance has always been exceedingly expensive compared to other comparable (or better) policies, so you've quite possibly been paying over the odds since you first decided to insure through them, rather than them only ripping you off now at renewal time.

JJ_Egan

Usually my DL house insurance can be a few pounds higher than i can get online . Requires a phone call to adjust DL car insurance just received a notification of auto renewal and its significantly lower than other quotes and even lower than DL online quote .
But in all cases its a quote or an notification that i can choose to use or not .They don't increase the price an not tell you .