why more because of how i want to pay my insurance

carefulwithcash

After 14 years with the CIS insuring my car the normal yearly quote came through the door, it was for £480. I then called them up as a new customer gave same personal details etc and was quoted £325, still waiting for them to explain this, promised to call me back ( 2 days ago), one reason they came up with is because i use a bank giro slip to pay with it gets cheaper if i use direct debit or credit card (which i dont use). So because i want to use bank giro to pay my insurance is an extra £133 a year, seems harse any feed back please on what to say to them or good advice.

Steve1981

carefulwithcash wrote: »

After 14 years with the CIS insuring my car the normal yearly quote came through the door, it was for £480. I then called them up as a new customer gave same personal details etc and was quoted £325, still waiting for them to explain this, promised to call me back ( 2 days ago), one reason they came up with is because i use a bank giro slip to pay with it gets cheaper if i use direct debit or credit card (which i dont use). So because i want to use bank giro to pay my insurance is an extra £133 a year, seems harse any feed back please on what to say to them or good advice.

new customers get better deals, thats pretty much a fact
companys can charge what they like for different payment methods - have heard that one company even charge up to 30% for monthly payments.
unfortunatly thats the companies perogative

noh

My advice is take the quote at £325 or go else where.
Most car insurance companies give lower quotes to new customers compared to existing ones. Its the way they do bussiness, low quotes to attract new customers who stay with them through inertia.The method of payment is not usually relevant although it may cost more if you wish to pay by monthly installments.
So either take out a new policy with CIS or go elsewhere as a new customer.

Nigel

carefulwithcash

The thing that upsets me is that on the original qoute there is a bank giro slip to pay the £478, on the new qoute no bank giro slip, says nothing about paying more by using the slip, surely they cannot discriminate against someone who wants to pay cash through the bank, someone who doesnt use a credit or debit card and doesnt want to use direct debit, have paid through giro slip at the bank for 14 years. Seems harse to be able to justify paying an extra £133 just because i want to use this option.
Thanks for your advice, still hoping they will ring with an explination.

Inactive

Sadly, Insurance Companies thrive on people that are loyal, I would go elsewhere.