Insurance it's like one big game.

[DRHysted]

At least it’s easier now with the internet. I used to set aside a day to go through the insurance companies in the yellow pages.

 

[SkipdiverJohn]

I get all this nonsense with my RAC membership as well. It drives me bonkers, but it's clearly a profitable business model otherwise they wouldn't do it. Normally, a phone call to their customer services gets my renewal back to within a quid or two of what it was last year and I go away just feeling mildly irritated that I had to waste 20 minutes of my time in the process. For every person like me that will query the increase, there must be enough muppets that don't in order to cover the wage bill of the staff who man the phones to deal with the savvy customers.

 

[PaulSB]

I can't say it's something that upsets me in the way others do. I see this as an opportunity to reduce my costs and ensure I've got quality cover.

Being retired gives one time which I know isn't available to everyone. I find this approach means my time spent on renewing is minimised.

1. Decide on type and level of cover required. Make note of what is included and/or save on web
2. Do the legwork on comparison sites etc.
3. Decide on a provider. In my case this will always be a known, quality company. Not Fred Bloggs Motor Cover etc
4. Buy it
5. When renewal comes around if the price is acceptable renew policy. What's acceptable? A few £££££ is fine.

I find more often than not using an established company reduces the likelihood of silly renewal prices, the phone staff are generally very good and there is the security of knowing a claim would be upheld.

A problem in the UK is the expectation of everything being cheap while demanding high standards. One can see this across every aspect of our society. Want decent services? Taxes should go up etc. Same with car insurance. Want a quality service and switched on phone support staff? Then pay a bit more to get it.

The UK public have a tendency to know the price of everything and the value of nothing in every walk of life.

 

[Kajjal]

I can't say it's something that upsets me in the way others do. I see this as an opportunity to reduce my costs and ensure I've got quality cover.

Being retired gives one time which I know isn't available to everyone. I find this approach means my time spent on renewing is minimised.

1. Decide on type and level of cover required. Make note of what is included and/or save on web
2. Do the legwork on comparison sites etc.
3. Decide on a provider. In my case this will always be a known, quality company. Not Fred Bloggs Motor Cover etc
4. Buy it
5. When renewal comes around if the price is acceptable renew policy. What's acceptable? A few £££££ is fine.

I find more often than not using an established company reduces the likelihood of silly renewal prices, the phone staff are generally very good and there is the security of knowing a claim would be upheld.

A problem in the UK is the expectation of everything being cheap while demanding high standards. One can see this across every aspect of our society. Want decent services? Taxes should go up etc. Same with car insurance. Want a quality service and switched on phone support staff? Then pay a bit more to get it.

The UK public have a tendency to know the price of everything and the value of nothing in every walk of life.

I do the same, work out required cover, compare quality insurers and choose best cover & price. No point having cheap insurance from a poor provider that doesn’t cover your needs. We normally switch every year but this time best offer was from existing insurers on all renewals.

 

[tom73]

Which is totally true but be upfront about it and don't hide behind the fine print or use business methods that leave many who often can't afford it or don't have me means to shop around out of pocket. Paying more is not always the mark of good service financial services. Are full of big boys who trade off an image of trustworthiness , age old heritage , customer is everything. All of which went long ago along with the man from pru.

 

[Deleted member 26715]

A problem in the UK is the expectation of everything being cheap while demanding high standards. One can see this across every aspect of our society. Want decent services? Taxes should go up etc. Same with car insurance. Want a quality service and switched on phone support staff? Then pay a bit more to get it.

Sorry but I disagree, in the UK we seem to pay far more for things than other countries, this is a whole new subject. I used to travel to the US regularly & would often find things were the same $ as £ when the exchange rate was 1.5 it made the same item a third more in the UK. It is still the case as you can still buy things in other European countries & get them shipped to the UK cheaper then buying here.

This is not about providing service at reasonable costs, this is about making extra profit by duplicitous means.

 

[PaulSB]

It is still the case as you can still buy things in other European countries & get them shipped to the UK cheaper then buying here.

I haven't been to the States for a decade so can't comment on that country. We do though travel in Europe regularly and find prices are generally on par or higher than the UK. Obviously it depends on the market or product being compared.

I've been visiting France for 40 years and over the last 3-4 have noticed it has now become an expensive place to visit. We had a week in Porto in June. I felt we got good value for our money but had to work hard at - plenty of very down at heel restaurants charging €€€€€.

Can you expand on what and where things are cheaper in Europe. I'm genuinely interested to know as I'm surprised by your experience.

 

[Deleted member 26715]

Can you expand on what and where things are cheaper in Europe. I'm genuinely interested to know as I'm surprised by your experience.

Car parts are the big one, I can often get them in Germany or Italy shipped to me than I can buy locally or even Nationally

 

[nickyboy]

Whilst I agree that in an ideal world insurance company's wouldn't gouge existing customers you can take comfort in the fact that, while they do, sticky customers are subsidising your cheap premiums when you shop around. Hardly a satisfactory state of affairs but, at a individual level this is the benefit of the current system to those who shop around.

 

[colly]

House insurance is one of those things you really have to have although it's not a legal requirment. Ours was going up in leaps and bounds and despite a change last year it was still a big wedge.
Not having made a claim for years and years I went through the policies and decided on the things we did need and didn't need. I've pared it back to the essentials such as fire and flood. Cut out accidental cover and gone for a biggish excess and the premiums have dropped to 25% of what they were.
So in effect we have disaster cover only with just a couple of add ons.

If the house burns down or we have a massive flood either external or internal or we are robbed blind we are covered up to over a million for the buildings and contents are something like half million. (which should just about do it)

If I were sensible I would put the premium savings aside to cover eventualities.

 

[Drago]

Car parts are the big one, I can often get them in Germany or Italy shipped to me than I can buy locally or even Nationally

I've ordered Smart car parts from Canada cheaper than I could buy them in the UK and europe. An Internal door handle cable manufactured in Germany, shipped to Canada, unpacked, put into stock, picked, packed and posted back to me in Englandland was about a tenner cheaper than I could get them domestically or from Europe. Go figure.

 

[Electric_Andy]

The price comparison sites play an even bigger game. I was doing a quote for my friend who is 18 and wanted car insurance quotes. I put in all his details and clicked on "fully comprehensive" policies. As I warned him, they came out at £2400 odd. I then went to 3rd party F&T, increased to £4000. I clicked on 3rd party only - £9000.

However, when I went back to fully comprehensive (same driver and details remember) it refreshed and the cheapest was showing as £3200, with the same company that only 5 minutes earlier was offering £2400. They know by the cookies I guess, that the type of person to look at every insurance policy to save money is maybe the type of person to drive erratically.

 

[Drago]

That's madness. When I had my Allegro I could only afford TPFT (which used to be cheaper than comp back then) and as a consequence I was super extra careful, because I knew kf something happened and it was my fault I'd be stuffed.

 

[swee'pea99]

That's madness. When I had my Allegro I could only afford TPFT (which used to be cheaper than comp back then) and as a consequence I was super extra careful, because I knew kf something happened and it was my fault I'd be stuffed.

I've heard that these days fully comp is often cheaper than TPFT, on account of

the type of person to look at every insurance policy to save money is maybe the type of person to drive erratically.

 

[Tail End Charlie]

That's madness. When I had my Allegro I could only afford TPFT (which used to be cheaper than comp back then) and as a consequence I was super extra careful, because I knew kf something happened and it was my fault I'd be stuffed.

I took it one stage further and only had third party. I thought a chain round the steering wheel, a flashing light pretending there was an alarm, etched windows would be enough to put people off stealing it. Oh, and the fact it was a Morris Marina!
I believe the way insurance companies push comp cover is for their benefit. If everyone has it, then things even out in their eyes, instead of having to do some work claiming off another company, as is the case with TPO and TPF+T.