LV quote lunacy

paddyandstumpy

Quentin wrote: »

So actually no statutory "shop around" advice till they have held them a minimum of 5 years!

Sorry I confused 4 renewals with 4 policy years. The project to get the paperwork live in time was one of my last at my last role, and almost a year ago now. I'd forgotten the detail.

rs65 wrote: »

Thanks. So not as straightforward as I read your earlier post. Brownie points can still be earned as described by the OP.

I'd be surprised if LV would volunteer their client should shop around unless they were a long held client (and therefore duty bound to have done so).
Not sure how they have therefore earned brownie points?

rs65

paddyandstumpy wrote: »

Not sure how they have therefore earned brownie points?

I read the first post as verbal advice given but maybe it was part of the renewal notice.

DavidH72

Amst wrote: »

People like you would still complain about an inflationary rise. From my ten years in insurance the main thing I've learned is that tight people think insurance should go down EVERY year.

I'm not sure what you mean by 'people like me.' I think you're making a lot of assumptions and ignoring what I actually said.
I'm not complaining about a small yearly rise (once NCD is maxed) but a 30% increase is unreasonable, especially when they are advertising a rise of less than 0.5% on an alternative platform. To suggest that I could look elsewhere and then come out top of the list with a far lower price suggests that they are being disingenuous at best.

DavidH72

Yes, this came as part of the renewal advice. I'm surprised that there is any statutory requirement to advise to look elsewhere but I think it's sensible, especially as I've been with the same provider for many years.

paddyandstumpy

OP, if you call their renewal team and tell them you've had the cheaper NB quote; they'll check it and match it.

Most (if not every) insurer has this dual pricing with renewals, especially those held for a few or more years.
Unfortunately loyalty doesn't pay and the insurer simply sees you as 'easy meat' and loads your price to offset the cheaper prices at NB.

It's sage advice to shop around each year, spending an hour or so on the price comparisons usually pays dividends.

Most insurers will then match an alternative quote or reduce their initial renewal offer at the very least; it's cheaper to retain a policy then get it back as NB and pay the exhorbitant aquisition fee from the price comparison websites.