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Gocompare car insurance quote rejected because

Gocompare has thrown up a car insurance quote with my existing insurer that is significantly cheaper than my renewal quote. No surprise there, but the purchase won't go through. I've just called the insurer to see why. They've told me that there's an industry-wide new rule that comparison websites can't give a lower price to existing customers and that I shouldn't have been given that quote!

This smells really fishy to me. Has anyone any experience of this?

My current insurer has offered to price-match the quote, but then I'd lose the Gocompare deal where they pay the excess of I should ever need it. 

Comments

  • TELLIT01
    TELLIT01 Posts: 17,901 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper PPI Party Pooper
    The industry wide rule, as I understand it, is that existing customers can't be charged more than existing customers.  That is somewhat different to what the agent said.  Unfortunately, no insurer can be forced to accept any potential customer.
  • dunstonh
    dunstonh Posts: 119,516 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I suspect go compare were relating the rule change to them rather than the industry.   

    As there is a difference in premium on the existing plan to the one on go compare, I suspect there is either a difference in the product version you have and the one go compare are offering or the commission take/discount is different. Or a system fault/software issue that hasn't been sorted yet that is still applying an early year discount by mistake.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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