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Car Renewal date missed -now a new quote with my company is significantly higher!?
johnny_c
Posts: 55 Forumite
First post so bear with me!
I have been successfully continuously car insured, with various companies for 4 years. 2 years with my last company. But at the start of this year i decided to try and sell my car due to lack of use. In doing so , i therefore decided to ignore the insurance renewal date - because of course i wasn't using it! (But it was still taxed and MOT'd)..However, the car didn't sell , and i thought i'll just insure it again for another while .When i went back to my company , and said ''OK i would like to renew my insurance'', they told me that because i hadn't renewed with them at the time of its expiry, that they wouldn't honour the original given quote.They said because i had broken the run of insurance with them, i was basically starting from scratch, and that their (very good) quote was now gone. THey subsequently quoted me at another £70 more! Is my insurance costing more just because i didn't immediately renew? Was this renewal quote a carrot to tempt me?? i know the insurance game, but sadly no-one else is quoting me any better?? in fact the comaprison site are quoting 2/3/4 hundred more!!! WHy has my company's quote increased?? thanks ( my driving situation points etc..remains unchanged)
I have been successfully continuously car insured, with various companies for 4 years. 2 years with my last company. But at the start of this year i decided to try and sell my car due to lack of use. In doing so , i therefore decided to ignore the insurance renewal date - because of course i wasn't using it! (But it was still taxed and MOT'd)..However, the car didn't sell , and i thought i'll just insure it again for another while .When i went back to my company , and said ''OK i would like to renew my insurance'', they told me that because i hadn't renewed with them at the time of its expiry, that they wouldn't honour the original given quote.They said because i had broken the run of insurance with them, i was basically starting from scratch, and that their (very good) quote was now gone. THey subsequently quoted me at another £70 more! Is my insurance costing more just because i didn't immediately renew? Was this renewal quote a carrot to tempt me?? i know the insurance game, but sadly no-one else is quoting me any better?? in fact the comaprison site are quoting 2/3/4 hundred more!!! WHy has my company's quote increased?? thanks ( my driving situation points etc..remains unchanged)
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Comments
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Believe what they told you.
You were getting a loyalty discount of some sort built in to the renewal price.
You didn't renew, they will have closed your file and so have lost that loyalty discount.0 -
I suppose that's the case! missing the carrot lost me£ 70
Just another thought. What if i do eventually sell the car, and therefore go without insurance for about 5/6months for example.Will i lose the chance of getting offered these good quotes? AM i going to go back to sqAURE one with all the insuracne companies because i haven't kept continous insurance cover running?0 -
Believe what they told you.
You were getting a loyalty discount of some sort built in to the renewal price.
You didn't renew, they will have closed your file and so have lost that loyalty discount.
This is correct. it is a common misconception that a new business quote will always be lower than a renewal - it frequently is, but this is not always the case.0 -
Another reason why your premiums are going up might be maybe because they found out you sometimes tell fibs, and may not have told the truth on your proposal form.First post so bear with me!
But you always get found out in the end!
See post #15 from 2 years ago:
http://forums.moneysavingexpert.com/showthread.html?t=1718240
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