Am I still being penalised for my loyalty?

[Spider10]

I pay more than double that for my w205 c63 with full nc and limited mileage they just charge what they want it started out at £2500

 

[Seanalf]

Gents, I posted this on the other thread last month. Companies did rate rises to see how the market moved, some have moved, some haven't. All I can say is use the comparison sites, there are still deals to be had...

I was quoted £142 for my 75 by Esure before I sold it.


As of Jan 1st, insurance is changing. A company cannot offer you a more expensive price for renewal than you would be offered with them as a new customer. This was bought in middle of the year to stop "renewal creep". Still shop around as it only applies to the channel that you bought through, direct or comparison site.

When it comes to rewards on Confused.com, the car wash is the absolute best value for money as it works out at £6pm (IMO car wash), bit better than a £20 Halfords voucher.....

Price reductions are happening now before these changes come into effect in Jan

 

[190]

My car is not due until August but we recently renewed the house insurance.

Last year with Halifax - £115 this years renewal quote from Halifax was £205

Went on Compare the market and renewed for £82 with RIAS

Even I was surprised with such a low quote so snapped it up before they changed their mind. Cover and excess exactly the same. In spite of the new legislation the insurance market is still crazy and you will have to shop around every year the same as before.

 

[Teego]

So my multicar renewal for CLS55 and X-Trail with LV went from £585 to £710.
When I got quoted as a new LV customer it was over £1000!
First shot on comparison sites got it to £596 with separate policies.
Draw your own conclusions, but I'll spend a couple of hours running through all the comparison sites.

Ended up paying £573 with two companies. So £12 less than last year.

 

[Teego]

I pay more than double that for my w205 c63 with full nc and limited mileage they just charge what they want it started out at £2500

But you are a special case Mick. See you at a PL meet this year?

 

[Spider10]

Yes I'll be there (the wife calls me a special case aswell)

 

[MrA209]

My car is not due until August but we recently renewed the house insurance.

Last year with Halifax - £115 this years renewal quote from Halifax was £205

Went on Compare the market and renewed for £82 with RIAS

Even I was surprised with such a low quote so snapped it up before they changed their mind. Cover and excess exactly the same. In spite of the new legislation the insurance market is still crazy and you will have to shop around every year the same as before.

I've been working with companies to implement this change into systems...
The change does nothing to stop competition within the market, only to stop the so-called price walking when you stay with a company. What happens now is that the person you buy your insurance from (be that broker or insurer directly) has to report and prove that the price offered at renewal would be the same as that offered to you as a new customer - on the same channel/source and at the same risk.
So it still pays to shop around - you'll always find instances where insurers / brokers want to balance their business and attract certain risks (or avoid...) and will be running different incentives at different times... and the same with the comparison sites too.

 

[nyssa7]

My multi car quote from Admiral came though yesterday

LAND ROVER RANGE ROVER EVOQUE

£217.32

FIAT ABARTH

£466.48

MERCEDES GT

£401.87

TOYOTA IQ

£126.81

gives a total of £1212.48, lower than last year’s £1266.00

will still be having a discussion today to try and reduce as I changed car online last year to the GT, want to make sure the tracker is taken into account and have a play with driver options. Prices went against conventional wisdom last year, my son‘s Abarth was cheaper without mum and dad on the policy so we took us off

going to have to compare meerkats for each car individually first to get a view on how competitive the quote is

The new rules might force insurers to give the same prices as new customers, but that doesn’t make it their cheapest offer

on querying the above they came back with that the Abarth and AMG (or their predecessor) had been with Admiral for a number of years and offered up discounts on these two, another £15 each of the others and dropped the overall cost from £1212.48 to £1084.14. Worth the effort if a phone call if a bit annoying that I go through this process every year

 

[Elanman1]

My last renewals were within a few pounds of the previous year's premium, it seemed so simple to renew rather than go round the obtaining quotes and moving companies of most years.

 

[Phil1968]

My last renewals were within a few pounds of the previous year's premium, it seemed so simple to renew rather than go round the obtaining quotes and moving companies of most years.

Yep that's what I had with both the recent house & car insurance renewal quotes this year, it's actually the first time I've let both auto-renew