Car Insurance that you can cancel online

Andy50v

This has been my first forum post and everyone has been incredibly helpful and I've had some great tips. Thanks!

Flight3287462

I have auto renewal only because we went 6 months on a car with no insurance, had completely forgotten about it (was manic time through illness and building a house) fortunately were never stopped but I doubt we can be lucky again (was second car for local runs station, shops etc and no ANPR cameras).  Never want that to happen again so auto renew can be useful.

Ectophile

eskbanker said:

Andy50v said:

Flight3287462 said:

Why do you think you will need to cancel your insurance?

You get a great price year one, then they jack up the price dramatically each year after that. So you need to cancel every year if you want to pay a reasonable price.

Which is also pretty annoying.

The practice of charging more for renewals than new customers was outlawed a year ago:

https://www.fca.org.uk/news/press-releases/new-year-delivers-fairer-home-motor-insurance-renewals

Do you actually believe that's made much difference?  No insurance company ever tells you how the insurance premuim is calculated.  So they can still increase the price, and you won't know why.  Then if you phone them up, they can offer you a slightly different policy at a lower price, and still not explain how the price difference was calculated.

eskbanker

Ectophile said:

eskbanker said:

Andy50v said:

Flight3287462 said:

Why do you think you will need to cancel your insurance?

You get a great price year one, then they jack up the price dramatically each year after that. So you need to cancel every year if you want to pay a reasonable price.

Which is also pretty annoying.

The practice of charging more for renewals than new customers was outlawed a year ago:

https://www.fca.org.uk/news/press-releases/new-year-delivers-fairer-home-motor-insurance-renewals

Do you actually believe that's made much difference?  No insurance company ever tells you how the insurance premuim is calculated.  So they can still increase the price, and you won't know why.  Then if you phone them up, they can offer you a slightly different policy at a lower price, and still not explain how the price difference was calculated.

It's straightforward to validate whether renewal pricing is the same as for new customers, but naturally that's not the same thing as guaranteeing price freezes or even indexation, etc!  Clearly any company that operates on the basis of 'jacking up the price dramatically each year' is going to struggle to attract new customers though....

DullGreyGuy

Ectophile said:

eskbanker said:

Andy50v said:

Flight3287462 said:

Why do you think you will need to cancel your insurance?

You get a great price year one, then they jack up the price dramatically each year after that. So you need to cancel every year if you want to pay a reasonable price.

Which is also pretty annoying.

The practice of charging more for renewals than new customers was outlawed a year ago:

https://www.fca.org.uk/news/press-releases/new-year-delivers-fairer-home-motor-insurance-renewals

Do you actually believe that's made much difference?  No insurance company ever tells you how the insurance premuim is calculated.  So they can still increase the price, and you won't know why.  Then if you phone them up, they can offer you a slightly different policy at a lower price, and still not explain how the price difference was calculated.

Yes, its pushed prices up for many that shopped around each year as the FCA predicted. It was designed to help those that are not internet savvy and were renewing blindly each year, by definition you arent going to have many of those people turning up here to say how much lower their premiums are now. 

Most direct insurers dont have a wide range of products to offer you, there is significant costs in maintaining historic products with different terms which is why most will bring people in line at renewal. Brokers can be slightly different as firstly they have a whole panel of insurers to choose products from and secondly the claims headache it causes isnt their problem.

They absolutely can increase prices and dont have to tell you why as long as they have also increased the new business price by the same amount. Given how much of a commoditised distress purchase consumer insurance is thats just a great way to reduce your sales as almost no one buys on quality. 

oldagetraveller1

Moja, Axa online only.

MEM62

Andy50v said:

Flight3287462 said:

Why do you think you will need to cancel your insurance?

You get a great price year one, then they jack up the price dramatically each year after that. So you need to cancel every year if you want to pay a reasonable price.

No, you don't.  You just need to ensure that you do not sign up for auto-renewal.  In that case your policy will just lapse at the end of its term.