Compare the Market - Quotes disappearing?

tain

So we got a quote from compare the market about three weeks ago to start on June 7th, everything was fine and locked in for that date. Turned out that our current insurance provider (Tesco Bank) were cheapest. Got the email, all was fine.

Then the day we get our renewal letter from Tesco Bank (£45 more expensive that CTM), our quote on CTM disappears and says no longer available. Totally gone from their site, even when our quote from last year still remains (albeit invalid).

We run the quote again on CTM, and Tesco Bank is now £1600 more expensive.

Anyone else had this? I'm guessing there is little recourse other than taking it up with Tesco, which will almost certainly fail as they know they're going to be the cheapest?

Aretnap

Most insurers offer a discount to new customers in one form or another. They may also offer different prices via different distribution channels, eg the price offered through a price comparison site may not be the same as offered through the insurer's own website.

At a guess when you got a quote before your renewal quote had been generated the CtM quote included a new customer discount. Once your renewal quote was generated the system was set up to recognise you as an existing customer, so when you go through CtM now it either won't apply the new customer discount, or won't quote at all.

Basically you can

(1) Ring them up and argue - they might reduce the renewal quote a bit
(2) Go elsewhere (rather cutting off your nose to spite your face if this means going to someone more expensive and/or with worse cover than your renewal terms
(3) Suck it up

You don't have much in the way of real recourse if push comes to shove - basically Tesco are free to change their prices, and you're free to go elsewhere if you don't like their price.

Harald

Comparison sites slowly becoming utterly useless. Every year they presenting results from less insurers. Last month checked comparethemarked, uswitch and moneysupermarket. Two thirds of the results were from insurers never heard of. Cheapest was more expensive than my renewal quote.
Finally found a quote from one of the biggest insurers for.. wait for it... HALF PRICE of my renewal. With some extras included.
Exactly same insurance was slightly over A THIRD of my renewal price. And quarter of best price from comparison sites.
It looks like you have to do all hard work by yourself. But it's very good paid job.

tain

Harald wrote: »

Comparison sites slowly becoming utterly useless. Every year they presenting results from less insurers. Last month checked comparethemarked, uswitch and moneysupermarket. Two thirds of the results were from insurers never heard of. Cheapest was more expensive than my renewal quote.
Finally found a quote from one of the biggest insurers for.. wait for it... HALF PRICE of my renewal. With some extras included.
Exactly same insurance was slightly over A THIRD of my renewal price. And quarter of best price from comparison sites.
It looks like you have to do all hard work by yourself. But it's very good paid job.

I think legislation came in that meant they can't fix the prices their insurers give, which means their business model has changed quite a lot.

tain

Update on this:

Spoke to Tesco, who despite knowing they were cheaper than anyone else and already our insurers, still matched the previously quoted price. Can't argue with that.

Still think the whole thing was a bit suspect though as they found our previous quote, but it had disappeared for us online.