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Alan de Enfield

Insurance 'Moan'

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House insurance renewal quote received from 'Tesco Bank'

Last year premium £280

This years premium £384

 

Have been a loyal customer with Tesco Bank's Home Insurance for 3 or 4 years but nigh-on a 40% increase (no claims made) seems beyond reasonable.

 

Had a word with the Meercats and they gave me a list of quotes with like-for-like cover (40 quotes below the Tesco renewal price) with the lowest being the Halifax at £181.40

 

I phoned Tesco and 'pressed 3' to say I was leaving, eventually spoke to a human who said hang on I'll get you a lower price (I think that's what he said, I could barely understand him) but I suggested that unless he could get under £200 he was wasting his time, he said he couldn't get anywhere near that, but did I want to renew with them anyway.

I politely declined.

 

Back onto the Meercats and 'signed up' with Halifax at the quoted price.

One thing that did surprise me was that the nice lady at the Halifax asked if my guns were used for 'sporting purposes' (I had listed them as high value belongings) as quote "sporting goods are not insured when used for their intended purpose" After calming down from laughing so much, she explained that (for example) if a Golfer breaks his club whilst playing golf it is not insured, but if it is stolen whilst he is in the clubhouse having a bacon-butty they are insured.

She suggested that we should re-categorise them as 'personal possessions' and they would be covered. (That was kind of her)

 

Any way :

1) Why is there such divergence on premium prices for the same cover ?

2) Why should your existing insurer say 'give us chance to lower the quotation' - as a valued customer I want the BEST PRICE FIRST TIME.

 

Grumpy Old Fart !!!!

 

 

Edited by Alan de Enfield

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4 minutes ago, Alan de Enfield said:

Any way :

1) Why is there such divergence on premium prices for the same cover ?

2) Why should your existing insurer say 'give us chance to lower the quotation' - as a valued customer I want the BEST PRICE FIRST TIME.

 

Grumpy Old Fart !!!!

1)To cater for those lazy gits that can't be bothered to shop around each year.

2)They shouldn't

 

Grumpy younger fart!!!!!

  • Greenie 2

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Same with my car insurance. Ludicrous increase, reduced to just a few quid above my other offer when I phoned. You get put off by the hassle of filling in the forms again and the endless wait on the phone. 

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They rely on people not shopping around.

 

The only insurance we find that doesn't really do this is the boat insurance. 

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? Why do you 'insist' on buying your insurance from a broker, rather than going to a proper underwriter or an insurance company? (Not that there are many companies left.

 

FWIW I've migrated over the years to Aviva who tend not to faff around with their prices - but if they do..... 

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12 minutes ago, OldGoat said:

? Why do you 'insist' on buying your insurance from a broker, rather than going to a proper underwriter or an insurance company? (Not that there are many companies left. 

I could phone (say) 20 different companies and go all thru the rigmarole (how many bedrooms, how many living rooms, any flat roofs, are locks BS1234, is the house unoccupied during the day and so on and so on) 20 times, or I can fill a form in one time only and get 40+ quotes with all of the details about cover costs, extras etc in 30 seconds.

 

I might be retarded (or even retired) but I have better things to do than spend hours on the phone going over and over and over the same things with each company. If I decide to phone (say) just three companies, how do I know that the 4th one I might have phoned would not be the 'best' ?

 

Easy life for me I'm afraid.

  • Greenie 1

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I do use online comparison sites to check if my company is in the right ballpark on renewal.  I don't chase the lowest quote but I find a phonecall to my current company is often worthwhile if they get too far out of line.

 

George

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I'm surprised you're surprised (I suspect, in truth you're not)

I now have an annual ritual with both my car and house insurance which become due within days of each other.

1) Get an on-line quote from the company around 28 days before renewal making sure it's identical cover 

2) Save details within the quote system ensuring that a) I have the quote reference number and b) the quote will be valid on renewal.

3) Wait for the normal renewal to arrive. It will ALWAYS be higher than the on-line quote.

4) Phone the company and tell them it's not acceptable and give details of the on-line quote. They will then faff around for a couple of minutes then come with a quote just that little bit more than the on-line one (one year it was 10p) and never more than a couple of pounds. This I will accept and pay for. Accepting this quote over the on-line one ensures that the same policy applies rather than a new one. This can have benefits in the event of change of details half way through the year in some cases.

 

Frank

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8 minutes ago, Slim said:

I'm surprised you're surprised (I suspect, in truth you're not)

I now have an annual ritual with both my car and house insurance which become due within days of each other.

1) Get an on-line quote from the company around 28 days before renewal making sure it's identical cover 

2) Save details within the quote system ensuring that a) I have the quote reference number and b) the quote will be valid on renewal.

3) Wait for the normal renewal to arrive. It will ALWAYS be higher than the on-line quote.

4) Phone the company and tell them it's not acceptable and give details of the on-line quote. They will then faff around for a couple of minutes then come with a quote just that little bit more than the on-line one (one year it was 10p) and never more than a couple of pounds. This I will accept and pay for. Accepting this quote over the on-line one ensures that the same policy applies rather than a new one. This can have benefits in the event of change of details half way through the year in some cases.

 

Frank

Pennies or even the odd pound I can live with and didn't even bother getting quotes for the Cars and boats, but a 40% increase (over £100) on the house renewal was just taking the 'Michael', and, when asked they said they could not get anywhere near the other 40 quotes. I think they just want to get out of the house insurance business.

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21 minutes ago, Alan de Enfield said:

I think they just want to get out of the house insurance business.

 

Or for some reason they just wanted to get out of insuring your house?

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My home insurance renewed on 1st November, I get it through Weslyan and get a good deal due to them working with teachers and retired teachers. On 4th November I got a call from them saying the insurer who I'd been with for 3 years with no claims have declined to insure my house. They have shopped around and found me another with the same cover, but costing £250 more! I decided to check around myself and it appears that most have blacklisted the HU5 postcode. We did flood back in 2007, but since then lots of flood alleviation schemes have been completed, or are nearing completion, it appears that many want to get out of insuring my house too!! 

Edited by Kendorr

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37 minutes ago, Machpoint005 said:

 

Or for some reason they just wanted to get out of insuring your house?

Well we are a 1/2 mile down a single lane track and almost 2 miles from the nearest neighbour so a bit 'exposed'

No footpaths, no street lights and never see a Policeman.

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We have had both our house insurance and car insurance with Castle Insurance Services in Durham for years , the premiums dont always go up from one year to the next, but when they do, it is only a few pounds, and when you phone up you are greeted by one of their ladies with their delightful Durham accent :-

http://www.castleinsuranceservices.co.uk/contact/4556106145

 

 

Edited by David Schweizer

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9 hours ago, Naughty Cal said:

The only insurance we find that doesn't really do this is the boat insurance. 

Must admit this is the one that surprises me, my boat insurance has gone down year on year for the last 4 years, all the other insurances don't.

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Over the last year, we have made no claims and nothing has changed re things we insure. (House and contents).

Last year, we paid the Co-Op Insurance £292. At renewal they wanted £407. A phone call and they could not explain or justify the increase.

Ten minutes on the Meerkat and Privilege have us covered for exactly the same cover for £156. With the added bonus that I already have my car insured through Privilege, so I am confident with their service (although no claims).

Normally I would suck up regular smallish increases - not anymore, I'm spending a few minutes from now on getting comparable quotes on all our insurances when they become due.

 

Jam - maybe your boat insurance has gone down because the value of your boat has gone down!!!!

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On 09/02/2019 at 14:57, OldGoat said:

? Why do you 'insist' on buying your insurance from a broker, rather than going to a proper underwriter or an insurance company? (Not that there are many companies left.

 

FWIW I've migrated over the years to Aviva who tend not to faff around with their prices - but if they do..... 

Oh Aviva do mess around. My van insurance has been with them for the last three years (until next week). For the following, the only change in what they're insuring is that the van and its owner are a year older each time (otherwise no mods, haven't moved house, no accidents etc, no other changes):

 

2017 premium £246.

2018 premium £325. (It was £382 and they couldn't reduce it when I rang, so I applied as a new customer to get the £325...!)

2019 premium £395. Tried the same trick and their site said they couldn't insure me, even though they already do!

 

It's time to say goodbye. Admiral are quoting £232 for the same cover.

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I've just had the car insurance renewal from Saga for the Yeti, and they want £299, so I thought I'd try my old insurer, LV, and it is £90 cheaper.
I think there will be a phone call in the morning.

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1 hour ago, Graham Davis said:

I've just had the car insurance renewal from Saga for the Yeti, and they want £299, so I thought I'd try my old insurer, LV, and it is £90 cheaper.
I think there will be a phone call in the morning.

We’re both with Saga for our car insurance (moved to them last year as they offered a very good deal). Mrs Wot Ever’s renewal quote came through a couple of weeks ago and we opened the envelope expecting to laugh at the increase and were both stopped dead in our tracks. A reduction of £6 from last year!  

 

As for house insurance, we too found Halifax to be by far the cheapest. 

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13 hours ago, Mike Tee said:

Jam - maybe your boat insurance has gone down because the value of your boat has gone down!!!!

Doubt it with enhancements made over the years and certainly not by the percentage drop in insurance.

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On 09/02/2019 at 15:57, OldGoat said:

? Why do you 'insist' on buying your insurance from a broker, rather than going to a proper underwriter or an insurance company? (Not that there are many companies left.

 

FWIW I've migrated over the years to Aviva who tend not to faff around with their prices - but if they do..... 

I have had the same problem with company's I was insured with Towergate for some years for my Camping car after a rise every year although no claims, I cancelled ,I trawled the sites & found if I went with them as a new customer the premium was a small amount above the original cost of years back

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On a similar vein :

My No2 Son was insured to drive 'his' car whilst a Learner with a premium of around £900.

he passed his test and we notified the insurers of a 'change' and they increased the premium to almost £2000, when asked why, they explained that previously he was under the guidance of an experienced driver, but no he was on his own and inexperienced - Fair enough sounds reasonable.

 

Had a word with the Meercats and completed the details showing that he had only passed his test 2 days previously, received a long list of quotations well below the £2000 mark, and surprisingly the cheapest one was £950 and was with his previous insurer.

Phoned them with the quote reference, "yes that's correct we can offer that price to a new driver" so started from scratch with them (again) and got one years NCB as well.

 

I am getting old and cynical but believe that there is no such thing as loyalty to customers any more and everyone is out to rip-off whatever they can.

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28 minutes ago, Alan de Enfield said:

yes that's correct we can offer that price to a new driver

We had similar when swmbo bought a new performance car a few years back.

 

“No, I’m sorry but we won’t insure you for that car”. 

“But I’m looking at an online quote where you say you will”

”Oh yes, if you want to start a new policy then that will be fine”

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The questions I always ask myself when any insurance policy falls due are:

 

1) Is the increase no more than a few percent?

 

-- if no, renew, if yes go to 2) below.

 

2) Can the meerkats, the tenor or whoever give me a lower quote?

 

-- they nearly always can, so

 

3) is the saving offered worth my time and trouble to change insurers?

 

-- so the final decision rests upon how much I value my time. A saving of (say) £50 isn't worth dicking about for.   A saving of £150 (say) probably is.

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