Incentives/rewards to switch insurance?

nightofjoy

It's insurance time of year again. Home contents.

Don't suppose any of the banks or providers are fighting over people to the extent they're offering rewards to switch?

Cheers.

Quentin

Better to check the whole market for the bottom line rather than just any rewards/incentives if you are looking for the cheapest premium.


All covered in the MSE article:


http://www.moneysavingexpert.com/insurance/home-insurance?_ga=1.29925887.198962445.1489706615

csgohan4

rewards would be cheaper premiums, but you could find at the cost of customer service and/or cover

nightofjoy

But not like bank account switches where they offer cash incentives?

Quentin

nightofjoy wrote: »

But not like bank account switches where they offer cash incentives?

If you want cashback rather than the cheapest premiums, try the cashback sites (all covered in step 5 of the MSE guide linked in #2)

Aretnap

nightofjoy wrote: »

But not like bank account switches where they offer cash incentives?

"Our insurance costs £500, and will give you a £100 cash incentive". It would be easier all round if they just charged £400 for the insurance. So that's what they do.

Bank accounts are a very different market as they don't typically charge a fee for the service (at least not an upfront headline price) so there's nothing to discount - if they want to attract more customers a cash incentive makes sense.

As above the are cashback sites which act as middlemen and will give you a cash incentive, which is paid for from the commission they get from the insurer for selling you the policy. You should still check whether using them gets you a better deal overall than buying direct or through a comparison site.

nightofjoy

Aretnap wrote: »

"Our insurance costs £500, and will give you a £100 cash incentive". It would be easier all round if they just charged £400 for the insurance. So that's what they do.

Bank accounts are a very different market as they don't typically charge a fee for the service (at least not an upfront headline price) so there's nothing to discount - if they want to attract more customers a cash incentive makes sense.

As above the are cashback sites which act as middlemen and will give you a cash incentive, which is paid for from the commission they get from the insurer for selling you the policy. You should still check whether using them gets you a better deal overall than buying direct or through a comparison site.

Ah well, worth a shot. Thanks anyway.

Guess it's back to selling my blood on the Russian black market....