Car Insurance Saving

[Krypton]

Got my annual renewal papaerwork in the post and was surprised as it was quite a bit more than I was expecting.

I went online to compare other insurers and one of the cheaper ones on the list was my current insurer.

Went onto their website and filled in the more detailed form, making sure I picked all the same options and it was £100 cheaper than the paper renewal quote I had in my hand.

Ic alled the compay this lunctime and asked them why the quotes were so different and they gave me some blurb about online discounts etc. but then offfered me my renewal at the cheaper online quote price.

The reason for posting this?

Well, if you'res is due for renewal soon check it against your insurers online quote, and if it's cheaper give them a call. It may save you a few quid.

 

[oxbob]

Not just car ins,in the present financial climate most retailers are desperate for sales, its a buyers market if you have the ready cash/ credit

 

[Night Train]

This is what I've been doing for the last couple of years. I end up taking out a new insurance online each year and so only have a year history with the insurance company and a new policy number. It is still the same company but they tell me on the phone that it is cheaper to do it this way then to renew or quote on the phone. I still check though and use the phone call to ensure all aspects of my policy are covered before clicking to pay.

 

[Globalti]

Amazingly having paid £135 fully comp for our Land Rover 90 last year, we were invited to renew this year for £119.

 

[allen-uk]

I've been doing this with confused.com for 4+ years now, for motor insurance and household.

And every year, but EVERY year, each time I thought I'd got down to the rock bottom price, I found some other company (big names all, not Fred Blogs Car Insurance and Window Cleaning Ltd) who would offer it for LOADS cheaper.

If nothing else, it proves what an absolute rip-off most insurance premiums are, if they are able to slash them by such huge amounts.

A.

 

[purplepolly]

Often both the insurer and broker will have set a price at which they have to sell the policy in order to break even and above that there's a variable amount that represents profit.

Insurers generally have several schemes that have varying degrees of cover - usually the ones offered through quotes engines will be pared down versions (less extras) of the ones they offer direct so that they can be sold cheaper. Going through an on-line quotes engine or insurance broker may not be the cheapest option though as they take commission on top of the insurance premium. Go direct to the insurer and you cut out the middle man but have to do the leg work yourself.

Rip-off? It's actually hard to make a profit in general insurance (household and motor) because of the competition, a lot of which is due to fraudulent claims and an increase in personal injury claims. So if you're going for a cheap option you have to ask yourself how are they making a profit - either you're getting a more basic cover (and that's not always things you select in the options) and so have to read the small print carefully or they're going to be very careful about paying out on claims. But insurers aren't charities so the profit has to be coming from somewhere.

 

[Mr Pig]

I found this out many years ago. Basically, they hope that you'll be lazy and just assume that because they were cheaper one year they'll still be the best the next. Heck of a lot of people just renew it.

We found exactly the same thing. Direct Line were the cheapest but the next year Admiral were twenty quid cheaper. I called Direct Line and said 'If you match the Admiral price I'll happily renew'. They said they couldn't so too bad. We switch insurers most years too. It's more forms but we've saved a lot of money, hundreds I reckon.

 

[PaulB]

Where would you stand on giving out/not giving out your credit card details under the following circumstances? (Caution; only those with a strong stomach need read on!)

On Wednesday morning this week I had a prang in a Tesco car park. It's a company vehicle so I called our insurance company, Zurich, who told me we had a guaranteed 8 hour service for them to provide me with a replacement vehicle. This would have been Wednesday evening/Thursday morning when delivery should have occurred. It didn't happen so I had to call them (me making all the calls, they never once called me) and ask what was going on because by this time my car had been uplifted so I was sans vehicle.

Thursday comes and they tell me they will get me a car that day. It doesn't arrive. They tell me it will be Friday. It doesn't arrive. They tell me Saturday morning. Amazingly, just 60 or so hours after the expiration of their "guaranteed" 8 hour limit on the replacement, it turns up. The driver wants my driving licence details, no problem, but then he wants my credit card details. Why? They've got my car in their garage and all our insurance details and the driver himself tells me he doensn't blame me as he wouldn't give his details under such circumstances. I refuse to give out these details. Was I right? I think so but would like your opinions.

Of course it means I'm still without a car but I'll hire one on Monday until mine's ready but is it right that such a company needs credit card details under these circs? Seems mad to me.

 

[TheDoctor]

It's so they're covered if it doesn't come back in one peice with a full tank. The people supplying the replacement are a hire company, in all probability.

 

[allen-uk]

We switch insurers most years too. It's more forms but we've saved a lot of money, hundreds I reckon.

Not sure about all those forms, Mr.Pig. If you use a site like confused.com (no, I haven't got shares), all you do is fill in all your details ONCE, then each year they are retrieved and new quotes searched for. Similarly with cars - the only time I've had to fill in new details is if I get a newer one.

A.

 

[Mr Pig]

If you use a site like confused.com all you do is fill in all your details ONCE

I know, but what I've found is that these comparison sites are NEVER the cheapest quote you can find. Don't ask me why, but I gave up on them years ago because I found that if I phoned the companies directly I got a lower quote.

 

[Mr Pig]

PS. I would have given the guy my card details. It's more than their life's worth to try anything dodgy as if they take unauthorised money off your card they'll have the card company to deal with!