Car insurance renewal.

[ummmm]

Is it usual to have an arrangement fee on your car insurance renewal?

I've never noticed it before. They want £50!

[boxtops]

No, certainly not - I'd take my business elsewhere!

[EcclesCake]

I've never seen that. Seems counter-intuitive to me!

[factor-fiction]

Is this through a broker, ummmm?

[NoMercy]

Are you paying by monthly DD ?

[Maydup]

No need for that, go direct if you're with a broker.

[ummmm]

No...we pay annually.

Our renewal has gone down to £258 inc the £50. Never noticed any other company add that.

robbing &*&(^&^

I'll phone them tomorrow.

[tonyav]

Iv'e never come across that one before ummmm.

[ummmm]

Done some research on the comparison websites...doesn't look like I will get it cheaper than £258.

[sunny-dave]

Brokers have always had an arrangement fee 'kickback' from the insurer, but I have a feeling that they are soon going to be required to say what their cut is.

Your broker may just be slightly ahead of the game in implementing this new 'transparency'.

[ummmm]

It's still pretty cheap. It was £300 last year so shouldn't complain really.

[sunny-dave]

I've just done my bike insurance renewal - after all sorts of haggling I got my broker (Swinton) down to the same price as last year (about £115).

In amongst all the legal stuff he then had to read out was that there was a £25 broker fee (included in the £115) - so it seems it is a new 'transparency' rule.

[ummmm]

Okay....I'll just renew. £250 is not bad fully comp for two drivers.

[tonyav]

Mmmmm, I'll be looking out for that, next renewal.

[bednobs]

isn't it jut how brokers have always made their money?

[tonyav]

Probably boxy.

[bednobs]

bednobs

[tonyav]

Sorry bednobs.

[GRUMPY]

I have never hear of it or indeed never charged for it.I would go somewhere else if i was you!

[sunny-dave]

Grumpy - it's not a new extra charge - it's merely that the brokers now appear to have to tell us what part of the overall premium goes to them (whereas previously it was hidden in the total price).

The only thing that matters is the 'total cost to the customer' which they will still tell you as a single figure.

[Nibble]

Why use a "third party" to get this????????



In the 21st century, I'll get what I want on MY own, thank you!