It's come round to that time of year again where my insurance is up fro renewal. I had a letter through from my current insurance broker who said that with the company that I was with it would be £1900 again fuly comp. However they had found another company that would do it for £1675.
Reading through the recent threads on insurance I tried a few companies and managed to get a quote for £1050.:) When I rang my insurance broker and told them about the better quote they said they would see what they could do, and would ring me back. They rang me back and told me that the original company would match the quote! How can they justfy a £1900 premium when they can so easily knock £850 off!

Same happened to me last year - mine dropped by 400 when I told them what I could get it for elsewhere. I went for the new company though as a matter of principle. Highway men !! :(

Working in insurance I could quite see why an insurer may discount their originally quoted premium by maybe £50 or £100 in order to keep your business, but £850 looks pretty extreme.

Make sure that they know exactly what they are insuring.

It probably wouldn't hurt to ask them how they managed to discount your price by so much.

All this 'con-artists' and 'rip off merchants' stuff is bo**ocks though... its probably just a mistake.

Had this recently with Bike and Car insurance.

Bike renewal £500, best quote £350, original insurers matched price.

Car renewal £800, best quote £650, original insurers matched price.

Worth a few phone calls at renewal time I reckon!

Cheers,

Ian.

Glad I saved the money on the insurance as me clutch has just let go! AAAArrrrgggghhh

Hi Jerry

You said:
"All this 'con-artists' and 'rip off merchants' stuff is bo**ocks though... its probably just a mistake."

I know you work in the industry but I regularly shop around each year for insurance (motor & home) because premiums seem to go up with no real justification behind them. My insurance has gone up by £200 this year and if anything the value of the car has gone down, I have had no accidents and I have got a year older!!!

Do insurance companies specifically lower prices for new business and then expect the customers to pay higher prices in subsequent years out of loyalty???

Chris

My policy was up for renewal with Direct line on sunday gone. The monday before that i had a total loss claim, i had 3 yrs NCB and went down to 1. i was paying £1500 last year the renewal was £150 more before the cliam it then went up by a further £450, which seems fair enough. So i then decided to shop around and i tried all of the big names , but no joy. One last call to a small local broker and im now paying £1500 agian.

The reason for this i could not see, so i had a word with the broker and he reckons all the different companys go for different markets, so one which is good for one person may be of no use to another.

He goes for high risks for the high gains, it seems to work as hes been trading for the last 14 years or so!