Loyalty does not pay - so sad

Maharg11

I worked in the insurance industry for 35 years where keeping loyal customers was paramount. They were cheap to keep, no expensive aquisition costs.

I have a friend who is totally loyal to the old Commercial Union, now Aviva. He regularly pays £900 + a year for his 4 bed detatched home ins whith no special extras. Ive told him I could go on line and arrange the same cover with Aviva for around £150, but he insists on renewing with them at the full price --- it cant be the same he says.
Sadly, inertia, ignorance and auto price increases are a part of all insurers stategy.

ConMan

Let them pay it then. Don't be sad. You've told them they can get it cheaper for the same cover and they insist on renewing.

Some people like to spend their money on cars, holidays.

Some, like your friend might want to spend it on an insurance product.

tacpot12

It will be very disappointing for him if Aviva don't honour a future claim, but his high premiums might give him some leverage with Aviva, whereas a client paying £150 a year would get an immediate "No".

At the end of the day, it is his choice. You might suggest to him that if he were to spend three or four hours carefully comparing the cover he gets for £900 to that which he would get for £150, he might find that it is worth £200 per hour to him to do so. Few of us can earn £200/hr, so an opportunity to do should not be ignored lightly IMHO.

happyandcontented

Show him this thread:

https://forums.moneysavingexpert.com/showpost.php?p=75967143&postcount=1