LV Car Insurance renewal beaten by.......LV!

EdMoses

My wife's car insurance renewal is due this week and we received the renewal details from the existing company, LV, who are quoting £280 for the new year.

I ran a few alternates as is sensible and found the same cover for £205 - also with LV based on the same details, cover, indemnities and excesses. 

I appreciate new business rates are trimmed etc but the quote stands, rather than cancel and take up the new policy it would be better if LV just discounted the rate to £205 to match they're own quote. In the past when I've had similar situations - not with LV but other insurers - the only way around has been to lapse the renewal and take up the new policy, creating the ridiculous situation whereby the insurer has to send themselves proof of No Claims Bonus. 

Just wanted to ask if anyone else has had a similar experience with LV and if they've found that they will renew the policy at thee lower rate - I'm still trying to reach them by phone to discuss bit wondered if anyone else, on proving the new quote, has had any success? 

dunstonh

I ran a few alternates as is sensible and found the same cover for £205 - also with LV based on the same details, cover, indemnities and excesses. 

Was that via the same distribution channel?

Just wanted to ask if anyone else has had a similar experience with LV and if they've found that they will renew the policy at thee lower rate 

Yes.  One of our cars was with LV and the comparison site came in marginally cheaper with LV than the renewal price.  So, that itself is not unusual.    However, I chose not to use LV for the renewal for ethical reasons and went with the next option.

EdMoses

dunstonh said:

I ran a few alternates as is sensible and found the same cover for £205 - also with LV based on the same details, cover, indemnities and excesses. 

Was that via the same distribution channel?

no - the renewal came through directly from LV whereas the new quote was via an intermediary, in this case Comparethemarket.com

Just wanted to ask if anyone else has had a similar experience with LV and if they've found that they will renew the policy at thee lower rate 

Yes.  One of our cars was with LV and the comparison site came in marginally cheaper with LV than the renewal price.  So, that itself is not unusual.    However, I chose not to use LV for the renewal for ethical reasons and went with the next option.

That’s fair enough

Marvel1

Yes happened to me, but with different company, they dropped to match, I stayed. 

Sandtree

Some companies will price match themselves, which helps them avoid paying aggregator fees etc whereas others won't because the new customer discount is funded from a different area and they want the books to balance properly.

Have done this many times and never once had to send their proof of NCD to themselves... think Admiral asked once and a phone call sorted it.