Car Insurance Renewal Prices

kreb

Motor Renewal up from major insurer. Its £275.
I put all my details into their web quote engine and it came back as £202! I ASKED THEM WHY.
Here's the reply, doesn't make any sense to me, especially this AIN malarkey. Any reason I shouldn't just get the cheaper option? Thanks.

I have checked your existing policy and the new quote you have done for any significant differences, I can confirm that both policy and quote are accurate and the same as each other.  The only differences I can see is a non-fault claim recorded on the policy is not on the quote, (this would not affect your premium) also on the policy you have 5,000 miles and the quote is 4,000 miles but this would not make such a difference in the premium.  The reason for the difference is because the current motor policy is on our standard insurance, and the quote is on our Ask it Never policy (AIN).  AIN policies use less details and questions such as where the vehicle is kept overnight for example and instead uses more averages as rating factors, this can result in the premium being less or more than our standard policy.  As the products are different, we cannot rate them the same, therefore, if you would like to go with the quote you have done online, this can be arranged, alternatively if would like to remain on the current policy, please let us know if you have any changes you wish to make.

RobM99

Morethan doubled my insurance to over £500 for a 20 year old Astra (MoreThan last year!) so I moved to First Central - half the cost + RAC cover included!

naedanger

kreb said:

Motor Renewal up from major insurer. Its £275.
I put all my details into their web quote engine and it came back as £202! I ASKED THEM WHY.
Here's the reply, doesn't make any sense to me, especially this AIN malarkey. Any reason I shouldn't just get the cheaper option? Thanks.

I have checked your existing policy and the new quote you have done for any significant differences, I can confirm that both policy and quote are accurate and the same as each other.  The only differences I can see is a non-fault claim recorded on the policy is not on the quote, (this would not affect your premium) also on the policy you have 5,000 miles and the quote is 4,000 miles but this would not make such a difference in the premium.  The reason for the difference is because the current motor policy is on our standard insurance, and the quote is on our Ask it Never policy (AIN).  AIN policies use less details and questions such as where the vehicle is kept overnight for example and instead uses more averages as rating factors, this can result in the premium being less or more than our standard policy.  As the products are different, we cannot rate them the same, therefore, if you would like to go with the quote you have done online, this can be arranged, alternatively if would like to remain on the current policy, please let us know if you have any changes you wish to make.

There is no reason not to take the cheaper option. Just tell them you want to go to with the cheaper online quote.

The reason they have given for the difference is that they use two different pricing systems that take into account different factors. So the existing quote might have been based on you car being on the road overnight which would be more expensive that it being off-road overnight. The new online quote doesn't ask, so uses the average which is cheaper than your existing quote. (This is just an example.) 

Sea_Shell

It would be interesting to see what insurers claims costs are this year, to justify any general premium increases, considering how many of us haven't been able to go far for a large chunk of the year!!

Surely claims would be down on an "average" year!!

No doubt they'd just cite increased operating costs instead!🤔

They've always got you over a barrel, you just get to pick a slightly different barrel each year!! 😉