Insurance Rant , household version

[Thrustyjust]

Every year , I have to do the same old time wasting exercise of punching in my details to pay the same money , rather than hope my insurance company sees I am a good non claiming customer and reward me for that reason. But no. Once a again I have the same old grief of putting all my contents, valuables and ten pedal cycles !, individually listed and then actually save £65 on my renewal cost, which ends up about the same as paid with the same company last year . Unfortunately, regardless of being a good non claiming customer and also never having a bike stolen ( heaven help the person that tries, or hell for that matter) , it still pays to be a new customer , rather than show loyalty and hope that that rubs off with premiums. Pedal cycles are like having nitroglycerine on your trampoline and most insurance companies would rather insure a premierships footballers Bentley after a drink driving ban than bikes.  Now dont get me wrong, I could go to A Plan, but I have a window of opportunity for a few hours on a Saturday and I could walk 10 mins up the road and pop in, but I am busy for the next weekend , when the policy will have expired. Also , they couldnt do nothing on my run around car, which I did try. So , why do insurance companies always consider new , unknown , potential issue customers less of a risk than the same person keep coming back to them ? Clean rant tonight , I think 

[Steve (sdh2903)]

No customer loyalty anymore. It makes them more money by having numpties auto renewing. Gets my goat every year. I don't even give my company the opportunity to match anymore. I just tell them if they could do it cheaper then they should have quoted me that in the first place. 

The only company who have given me the cheapest renewal straight off the bat for the tintops and subsequently been with them 3 years is esure.

By the way 10 bikes!!!

[CraigHew]

Unfortunately it's just the way of the world for insurance companies.  Our Household policy is due next week too.  We normally pay a premium of around £200.   Our insurers sent us the usual renewal notice, saying they'd shopped around on our behalf, blah blah, got us the best price blah blah, and we didn't have to do a thing just sit back and the policy would auto-renew.  Except the renewal quote was over £800.

I promptly went on line and within an hour had secured a sub-£200 policy to cover our modest needs.

Rang the customer service team of our "old" insurers to decline their invitation to renew.  Young lady who answered my call seemed a little affronted that we were declining and asked why.  I said "oh no reason, just fancied a change"  She then offered to review the quotation to see if she could trim it back a little.  Over the silence I could hear the penny drop. SHe apologised and confided that the renewal seemed ludicrous.  I agreed but smiled when I told her I'd already moved the policy elsewhere.

It does seem a stupid system.  The insurers totally rely on the hope you can't be assed to spend an hour or so shopping around, entering your details into several comparison sites and just auto-renew.

I'm also 100% sure it won't change any time soon.  If a new insurer started promising only to raise premiums in line with inflation for non-claim, no significant change customers they may well clean up.

[dombanks]

Try comparing like for like but change Owner occupier to landlord.... 

The premium I'd 10x less for the same cover

[SootySport]

 Call the your existing insurer/broker renewals dept. with a pre empt strike. Tell them you want the same premium cost or you'll go elsewhere.

[Thrustyjust]

4 hours ago, SootySport said:

 Call the your existing insurer/broker renewals dept. with a pre empt strike. Tell them you want the same premium cost or you'll go elsewhere.

Awkward one as being Quotemehappy , which is all on line. Weird how when I went to their website it automatically linked me to my account so I could do all the necessary payments etc straight off and cancel the renewal on the old policy when it runs out.