Insurance renewal

[TheNovice]

my daughter (aged 23) got her insurance renewal quote from Elephant of almost (she's got a Clio) £1500 - went on line got it down to £750 (this was Admiral, sister company of Elephant). Phoned Elephant who lowered it further to £650. Now if she just accepts the initial quote she is £850 out of pocket - and I am sure some people don't query these things, How do these company's get away with it!!!

[factor-fiction]

Because it's perfectly legal and because some people choose not to shop around or leave it too late

[Andyvon]

They can do just as they wish TheNovice. It's the customers' prerogative to leave. My renewal about three years ago was £150. I went on-line and the same company quoted me £101! I rang the company and they let me renew for the on-line price! That was 33% saving. The RAC do the same. They quoted me £140 to renew my breakdown cover last November. I haven't called them out for years. When I rang up to say I was leaving they waffled about the cost of fuel then immediately dropped the renewal to £82!

The companies have to balance making a profit against the customers' prerogative to leave. The answer it seems is not to accept the initial renewal quote. Question it, threaten to leave or do leave and go with someone else. Looking after 'valued customers' and customer satisfaction don't exist today I'm afraid.

[chas2008]

not so long ago many companies were all part of RBS / UKI (some still are) , this included Churchill,Prudential,Direct Line,Tescos,Privilige and quite a few more, yet they all gave different quotes !!
You could play one against the other to get a better price..

[flip_flop]

Have you never got a quote from a tradesman only to find another tradesman doing exactly the same work will quote less?

[d9f1c7]

Because they rely on apathy. Insurers via the comp sites are effectively offering a discount to get you on board, once on board they hope you will stay through apathy. Loyalty is effectively punished. I hit the comp sites every time any of my insurance is due, saved a fair bit in recent years. Don't query it just move! I once quieried it after doing a search and they said they'd match it so I said no thanks I didn't want to be signed up to a bunch of theives and I moved. Done the same every year since.

[TWR]

The novice, that's exactly what my earlier post was on about, rip off insurance.