Insurance renewal.

[CXRAndy]

Just had my wife's renewal for her Model 3.

Needless to say cancelled my renewal with them, got it elsewhere for £80 more than last year's premium.

Change insurers every couple of years , because they rely on apathy to overcharge lazy customers.

 

[Richard A Thackeray]

Just had my wife's renewal for her Model 3.


Needless to say cancelled my renewal with them, got it elsewhere for £80 more than last year's premium.

Change insurers every couple of years , because they rely on apathy to overcharge lazy customers.

Sadly, no bonus (reduction) for loyalty

Mine's due in June, so see what happens with that?

 

[glasgowcyclist]

Just had my wife's renewal for her Model 3.

View attachment 725848

Needless to say cancelled my renewal with them, got it elsewhere for £80 more than last year's premium.

Change insurers every couple of years , because they rely on apathy to overcharge lazy customers.

That’s someone saying they don’t want your business, but for that price they’ll take you on.

I look to change every year if it goes up by more than a tenner.

 

[geocycle]

Is this thread showing there is a coordinated effort by the insurers to bump premiums up 40-60%? In most years a rise was reduced by a phone call, this year they are all at it. Seems like a cartel of the big companies is forming.

 

[Buck]

The cost increases are frustrating as well as expensive but they had to change their pricing models a year or two ago as a result of some legal challenge around differential pricing?
Let’s not forget they are also responding to increase in the general price of cars, costs for repairs, more expensive labour costs and such. Ultimately, they are a business and need to provide a return for their shareholders/investors.
Cheap insurance is not always good insurance either.

None of that describes a cartel, oligopoly or otherwise does it?

 

[craigwend]

My quote for renewal just about trebled this year - I rang up to cancel and ask why - the genuinely helpful person couldn't explain it, said they got a new system for calculating premiums and when having a look she could not see why. Changed companies at a similar premium to last year.

 

[CXRAndy]

I've got my own car's renewal coming up this month. It will be interesting to see what they quote

Decided to have look to see if my renewal quote was available, it is

Time for a quick check online what is available

 

[chris-suffolk]

I've got my own car's renewal coming up this month. It will be interesting to see what they quote

Decided to have look to see if my renewal quote was available, it is

View attachment 726157

Time for a quick check online what is available

Never, never, ever set to auto renew. That's the first thing to go on any new policy when it's set up. That puts me in control

 

[Electric_Andy]

I seem to remember they were not allowed to offer new customer discounts anymore, so now they are charging everyone the expensive renewal premium for current customers and new customers alike. Which was not supposed to happen

 

[fossyant]

Mine only went up by £10-£20 on auto renew, about £160, but that's on a 22 year old car with maxed out NCD. The 'kids' Aygo is costing me about £1,200 though. That said, mine costs a fortune 'per mile' if you factor that in.

 

[simongt]

Been insured with the AA for over twenty years. Until recently, when they've sent the renewal, as it's always been too high in my view, I've gone on the ComparetheMeercat, gone back to the AA and had the quote reduced to a 'sensible level'.
Last year, for the first time ever, the quote was only a little more than the previous year, but this year when they realised that I'm now retired, it actually went down - !
Result - !

 

[bobzmyunkle]

but this year when they realised that I'm now retired, it actually went down

Interesting. I changed my details as I retired and the renewal quote went up. Maybe I was previously in a profession deemed more sensible than pensioner?

 

[rogerzilla]

Mine's expensive for the Mazda 3 because my SO is insured to drive it and she passed her test last year, although she is 49, which helps. The Jimny is cheap to insure because only I drive it.

What really rankles is that they increased the premium by £30 because I changed my occupation from "finance manager" to "retired"!!!

 

[DCLane]

Son no. 2 and myself have a combined policy for our three cars. The renewal was up £300 despite an extra year's no claims and him having a clean licence.

Cue some online quotes and a phone call to the insurer - it's back below last year's and renewed. Just why this rigmarole is needed is daft.

SWMBO's insurance was renewed last month; hers went up £20 and I couldn't be bothered with the hassle of changing as online checks showed we'd save only about £10. And yes, she could/should do it but never has.

 

[midlife]

Was reading the BBC news, car insurance up on average 40 plus percent for renewal and 50 plus percent for new customers this year

Apparently going to drop by 20% next year.