LarryUK Posted October 16, 2014 Posted October 16, 2014 My van insurance is due for renewal and they've sent me my renewal notice. I thought it was expensive, so I went to Confused and looked there. I found a much cheaper price, only to see it was the company I'm already with. I called them and they not only matched it, they gave me a better price. So, the moral of this, is never renew from the yearly renewal notice. Always look elswhere. This goes for house/life etc. Have you been ripped off?
pippy Posted October 16, 2014 Posted October 16, 2014 Yup. Exactly the same story here with my car. I'd been with the same insurers for a while but the last renewal seemed to have increased by far more than I was expecting. Did the same sort of internet comparison and found my existing company quoted roughly half what they were going to take automatically by Direct Debit 'for my convenience'. On sheer principle I went with a different company offering a similar quote. Not that I think any of them play the game differently. I called my ex-insurers and left them in no doubt as to why they would not be seeing one penny of my money ever gain. P.
Pin Posted October 16, 2014 Posted October 16, 2014 This seems to be the standard practice of doubling (or more) the premium after a year or two. They seem to think you are gulled into being a "regular customer" and can now rip you off to their hearts content. God knows how many people fall into this trap. They all seem to do it so I guess it really is the norm for the shark (insurance) industry.
IanHenry Posted October 16, 2014 Posted October 16, 2014 It's just the same with Banks and Building Societies, they offer you so many percent interest if you invest your money with them, then, usually without telling you, they drop that interest rate to a pittance. I find them quite sneaky, it really hacks me off. Ian
Pesh Posted October 16, 2014 Posted October 16, 2014 I previously worked in insurance, and it is ridiculous. They always put it down to "market variables" and "changes in claim values" despite many people never having claims. It was stupid to have to tell customers to get a new policy with us when renewing, rather than just take up their renewal offer.
Starpeve Posted October 16, 2014 Posted October 16, 2014 Yup. Exactly the same story here with my car. I'd been with the same insurers for a while but the last renewal seemed to have increased by far more than I was expecting. Did the same sort of internet comparison and found my existing company quoted roughly half what they were going to take automatically by Direct Debit 'for my convenience'. On sheer principle I went with a different company offering a similar quote. Not that I think any of them play the game differently. I called my ex-insurers and left them in no doubt as to why they would not be seeing one penny of my money ever gain. P. Nice one, Pippy! I, too , am stubbornly principled. More people should be.
Plus Top Dan Posted October 16, 2014 Posted October 16, 2014 I tend to shop around every time a renewal notice comes through, more often than not, it's always worthwhile spending a little time and effort in doing so
rct Posted October 16, 2014 Posted October 16, 2014 I don't get it. England is so small you guys can't go fast enough to do any damage, and you all know each other so... rct
lazarusvt84 Posted October 16, 2014 Posted October 16, 2014 We have 4 cars, five drivers, spotless records and I still need to recycle thru insurance companies here in the States every few years to ensure the best deal. Not much loyalty...
quapman Posted October 16, 2014 Posted October 16, 2014 Loyalty and Insurance companies are a bad mix. So is loyalty and banks. I shop every time my house insurance comes up for expiry, hold them accountable, and usually get an adjustment on the increase or I leave them. I have also done that with my mortgage. Banks are happy to pay the penalties to get your business. So my mortgage is at it's 3 institution now. Threaten to leave and you will be offered the "discretionary rate". I have no loyalty to any institution. They all offer you the moon to get your business,, then bend you over when then think you are their friend.
rct Posted October 16, 2014 Posted October 16, 2014 They all offer you the moon to get your business,, then bend you over when then think you are their friend. Sounds like a good Mission Statement. rct
IanHenry Posted October 16, 2014 Posted October 16, 2014 I don't get it. England is so small you guys can't go fast enough to do any damage, and you all know each other so... rct Ha, you obviously haven't driven on British roads, the speed and aggression are unbelievable. Ian
rct Posted October 16, 2014 Posted October 16, 2014 Ha, you obviously haven't driven on British roads, the speed and aggression are unbelievable. Ian In internet guitar forums like this one, including all the wonderful people from your great United Kingdom, I play the average redneck American that knows nothing about the United Kingdom but thinks he does. When we were Young and Fine, we lived in Bermuda for a few years, and from there came our love of your little island on which everyone knows everyone. I also learned lots about England, Wales, Scotland, and Ireland, and the associated vulgarities hurled at each other. I still laugh hard. I am enjoying some education on Scotland right now from a forumite Scot, cheap as he may be. When we returned after a few years, we couldn't believe how many Americans actually thought were just off the coast of Ireland, not just off the coast of the Carolinas. rct
IanHenry Posted October 16, 2014 Posted October 16, 2014 In internet guitar forums like this one, including all the wonderful people from your great United Kingdom, I play the average redneck American that knows nothing about the United Kingdom but thinks he does. When we were Young and Fine, we lived in Bermuda for a few years, and from there came our love of your little island on which everyone knows everyone. I also learned lots about England, Wales, Scotland, and Ireland, and the associated vulgarities hurled at each other. I still laugh hard. I am enjoying some education on Scotland right now from a forumite Scot, cheap as he may be. When we returned after a few years, we couldn't believe how many Americans actually thought were just off the coast of Ireland, not just off the coast of the Carolinas. rct Rct, your average mild mannered Briton turns into some kind of Psychopath when they get behind the wheel of a car, and the blokes are even worse! Ian
pippy Posted October 16, 2014 Posted October 16, 2014 ...I am enjoying some education on Scotland right now from a forumite Scot, cheap as he may be... Don't kid yourself. You'll find out just how 'cheap' he is when you receive the bill. P.
capmaster Posted October 16, 2014 Posted October 16, 2014 Loyalty and Insurance companies are a bad mix. So is loyalty and banks. ... Sad but true, and obviously globalized. :(
rct Posted October 16, 2014 Posted October 16, 2014 Don't kid yourself. You'll find out just how 'cheap' he is when you receive the bill. P. Save it. In 2015 - 16 when we are over, the first decakiloquid or whatever size drink is on me. So are the rest, for that matter. rct oh crap. Did I just offer to buy a Scot drinks for the evening?
Tman Posted October 16, 2014 Posted October 16, 2014 Funny but I am in the midst of renegotiating all of my insurance as well with a broker I've dealt with for over 20 years. I've been taken for granted. My wife found an agent willing to provide coverage for just over half of what we are paying now. We will have a conference call this weekend. btw what does compulsory excess mean? The overpayment that you are forced to pay?
Bender 4 Life Posted October 17, 2014 Posted October 17, 2014 Rct, your average mild mannered Briton turns into some kind of Psychopath when they get behind the wheel of a car, and the blokes are even worse! Ian http://www.youtube.com/watch?v=hk-c5jlk48s
pippy Posted October 17, 2014 Posted October 17, 2014 oh crap. Did I just offer to buy a Scot drinks for the evening? No. You didn't limit your offer to one evening. In point of fact you mentioned a period of two years. btw what does compulsory excess mean? The overpayment that you are forced to pay?... I'm not sure if you are joking but I'm sure you will have something similar to that over there, two ells, although it might be called something else. Just in case you are asking in all seriousness it's something along the lines of this; It's the amount which, in the event of a claim, the party insured has to pay from their own pocket towards the total sum settled by the insurer. If the cost of a repair amounts to £3,000 then, with a £200 excess, the insurance company will be liable for £2,800 : £3,000 less the £200 as agreed. All insurance companies offer different sums for the compulsory excess and the insured can choose how much excess they are prepared to pay. As a general rule the lower the agreed excess the higher the premium and vice versa. P.
badbluesplayer Posted October 17, 2014 Posted October 17, 2014 I'm not sure if you are joking but I'm sure you will have something similar to that over there, two ells, although it might be called something else. Just in case you are asking in all seriousness it's something along the lines of this; It's the amount which, in the event of a claim, the party insured has to pay from their own pocket towards the total sum settled by the insurer. If the cost of a repair amounts to £3,000 then, with a £200 excess, the insurance company will be liable for £2,800 : £3,000 less the £200 as agreed. All insurance companies offer different sums for the compulsory excess and the insured can choose how much excess they are prepared to pay. As a general rule the lower the agreed excess the higher the premium and vice versa. P. Oh, O.K. I was wondering too. We have the same deal. They call it a "deductible" over here. Like me and the wife have a $250.00 deductible. If the car needs a thousand dollars of repairs, the insured pays the deductible - like $250.00 for me - and the insurer pays the rest, the $750.00. Same thing.
Tman Posted October 17, 2014 Posted October 17, 2014 Oh, O.K. I was wondering too. We have the same deal. They call it a "deductible" over here. Like me and the wife have a $250.00 deductible. If the car needs a thousand dollars of repairs, the insured pays the deductible - like $250.00 for me - and the insurer pays the rest, the $750.00. Same thing. Pippy, I guess you know me as a joker, but this time I was serious. BBP said exactly what I was thinking and said it perfectly. I think compulsory excess is a great description come to think of it.
TommyK Posted October 18, 2014 Posted October 18, 2014 I learned a long time ago: When you are talking with an Insurance company, you ARE in a negotiating session, whether you realize it or not. Never, EVER, take their first offer. They will low ball you on claims and high ball you on premiums every time. Checking your own insurance company's rates on line is not a bad idea. It lets them know you're looking and educating yourself and may bolt at any time.
dem00n Posted October 18, 2014 Posted October 18, 2014 Try being under 25 with a suspended license on record. My car insurance is about $3000 a year.
TommyK Posted October 28, 2014 Posted October 28, 2014 Try being under 25 with a suspended license on record. My car insurance is about $3000 a year. I don't believe I will try that.
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