Car insurance provider not suggesting reduction

order

I've changed vehicle and wanted my provider to update the policy. They suggested a one off payment of £143.25 and additionally my instalments of £18.70 a month, for the remaining 7 months. This totals £274.16.

Checking on comparison sites my provider was the cheapest offering a years insurance at £194.

I pointed this out to them and they reduced my one off payment to £88.58 (nice a reduction, as they use a 'different scheme than on-line') totalling £218.58 including my additional existing monthly premium.

This new amount is £24.58 more than the full year offer against the new on-line offer. With a few calculations, in the next 7 months existing in the current policy, I'll be expected to pay £105.42 more for upgrading the policy than starting a new one.

Is this acceptable practice for an insurance company? Should I think about going to an ombudsman and making a formal complaint or something as I feel I'm being shafted

megaginge

Depending on how worried you are about nullifying 5 months of NCB accrual by doing this, consider tell them if they don't match your yearly renewal at least, you want to cancel your policy and take out the new one at the advertised price.

It'll cost you a £30 admin fee, more or less if they make you go through with it.

Or they might honour the price as it's less hassle all over

rudekid48

Are you using a Broker?

order

yes through broker, apparently.

rudekid48

Which insurer is it?

order

Entire Cover Ltd is an Appointed Representative (FRN655134) of Xpekt Limited, Certified by Marker study Insurance Company Ltd.

ninetyfables

With a broker they would have insured you with one specific insurer that obviously does not offer a good rate for your vehicle. When you go online, they are offering you a better price with another insurer.

I'm not sure if all brokers do this, but as about a 'cancellation replace'.