Double Discount Car Insurance Loophole!

robpitt

I'm in the same situation as others : NationWide's quote is £200+ more expensive. As I see it the absolute worst case scenario is:
-nationwide resist refund on technicality.
-I waist several hours of my life arguing the point.
-eventually I cancel the policy after 1 month and get a pro-rata refund. => I am out of pocket by about £20.

Of course if they're true to their offer then I'd be £200 richer!

The question is do I have the balls to do it...

smartiepants

I'm a scardycat really :eek: , I could be in with a refund cheque of £220 but I'm scared to do it, I just don't want to lose out financially. Or should I just do it and say to hell with it. My renewal premium is with Esure. I think I will re-read my policy wording.

balsingh

I think we are all waiting for someone to successfully make the claim ... then everybody will jump at it.

smartiepants

Dangermoose"""Nationwide windscreen excess is 75 and covers sunroofs (I don't have one)
Admiral is 50 (no sunroofs covered)"""

I have checked my esure docs and they too, do not cover sunroofs, but Nationwide do cover glass sunroofs, so maybe that is where their getout is???

Rocket01

I think you are all being afraid for no reason. I don't think they will look for a tiny difference in policy as a get out.
My insurance is only £167 with them and £135 renewal. The trouble is I have already gone with Lloyds at £177 through greasy palm. This was 7 days ago though and I am still waiting for my £60 cashback to be credited. Will give it another day or 2 before chasing up and possibly cancelling and going with Nationwide. I know my premium is peanuts compared to most peoples but the principle is the same for the cashback office people.

smartiepants

Rocket01 wrote:

I think you are all being afraid for no reason. I don't think they will look for a tiny difference in policy as a get out.

If nothing else comes from this at least I have a better understanding of what I am actually covered for on my car insurance and realize that Esure is actually a damn good policy and not expensive.

johnlyle

point 7 of the Price Promise T's & C's would wipe out any saving/profit.

"7. Nationwide reserves the right to withdraw this offer at any time."

If they did this, legally you would have no argument - they win. Therefore, you have to decide whether they want to take the risk in negative PR on sites such as MSE, to make a killing. Oh, wait a minute, they're a bank aren't they - of course they don't care about bad PR!!

Incidentally, my quote on my Touran was £605. Barclays (through Insurance Supermarket site, (who own Nationwide I believe)) came up cheapest at £338. Would I take the risk - not with clause 7 and the Nationwide directors scenting blood - no.

J.

cribden

Hi there,

Just taken out Nationwide cover on-line £600.00. NU appears to offer similar product at £350.

Hopefully NU will still offer same product tomorrow!

Will let you know how I get on...

MSE_Martin

OK further clarification for you:

Some Q&As I've asked Nationwide


Q. Can I check, the excess on claims must be within £25 (and is this within £25 or a difference of £25 or less)?

Yes. So if you have a compulsory excess of £100 and voluntary excess of £100 with us, we would allow a combined excess of any where between £175 and £225.

Q. If the policy you're comparing doesn't have European cover, would this knock it out?

Yes. We work hard to make sure our standard policy is a great package. The comparison quote needs to include all the things we cover as standard. This includes cover for driving in Europe for up to 90 days, temporary courtesy car and any additional options like legal assistance and breakdown services.

(addition from martin: this is one to be vary careful of, I belief the offer is rather disengenuous of Nationwide, as these are options on many insurance policies, still just search for the cheapest with the equivalents)

Q. If you are going for a monthly policy then are you factoring in the interest cost in the APR

Yes. Just multiply the monthly cost by 12 for both ours and the competitors quote for a like for like comparison.

Q. What happens if the difference is more than the cost of the second policy (ie nationwide is £1000, the second policy is £400)

As long as the quote is on a like for like basis, we will honour the price promise.

FYI, this is what we say about the price promise: "BUY from us and if you then find a better quote, we'll refund double the difference." The policy needs to be purchased from us before the price promise can be claimed upon.

(addition from martin: duh.... as if i hadn't noticed!


Q. I presume though it says "Nationwide can cancel this promise at any time", if you took out the cover when the promise is on, but then it was cancelled before you claim, it'll still be valid?

Yes

cribden

Spoke to Norwich Union. They confirmed standard policy includes 90 days 3rd party cover throughout the EU. Cover can be extended to "same cover as in UK" plus extended list of European countries, again up to 90 days for £21 extra.

If carphone is a factory fit they have unlimited cover.