Insurance companies.......

[MancMike]

So I was right, you'll forfeit this year's NCB and also will have cancelled a policy?

 

[l5foye]

I think the insurance world has lost the plot. I recently received the renewal quote for house insurance and decided to shop around . I found a quote 75% cheaper for the exact same insurance cover. When I went to pay online, whose name cropped up but the company I had been with ! In other words the company operates under 2 different names.

 

[toffee-pie]

So I was right, you'll forfeit this year's NCB and also will have cancelled a policy?

Its ~6 months 'lost' NCB and will make little difference to me in reality, in fact I don't think they even use anything over 11 years, is there a maximum number of years for NCB.

A car owner cancelling a policy is different than an insurer cancelling someones or getting rejected.

If my present insurer were not money grabbing swines I would not have to do this.

 

[MancMike]

Oh I didn't realise you had that many. I recently forfeited my 3rd year, and so that's cost me dearly.

 

[TKvS]

is there a maximum number of years for NCB.

I may be wrong, but I don't think there's any accumulation beyond 9 years !

 

[tec]

I may be wrong, but I don't think there's any accumulation beyond 9 years !

I think 5 Years is the maximum official for no claims, but some companies claim to offer discounts for up to 9 years.

My insurance is under £400 for 2 cars, so am not complaining. :bannana:

 

[markjay]

What exactly is the issue with quotes that vary? Would a Cartel or a Monopoly be better?

Surely this is free market at its best, with consumers having choice, in fact a very wide range to choose from.

Why introduce regulation or consumer protection when there's' no need for government intervention?

Or is someone advocating a Nanny State where citizens are generally regarded as not clever enough to work-out for themselves which polices they should stay clear of and which they should purchase?

 

[markjay]

 

[Luke737]

This happened to me this year been with Admiral for years then get my renewal for my E63 S at £1,900 went on the one of the compare websites and Churchill quote me £1,000.

So I ring Admiral up to see if they can price match but they were having none of it, so I changed now I will always check else where before going ahead with a quote!

 

[whitenemesis]

I'm with Direct Line, have been for many years, very happy with service and quotes. That was until last year's renewal letter made me wince. Premium doubled from £190/yr to just over £400/yr!!!

Quick research on GoCompare showed many companies quoting around the £200/yr for the same cover. Rang Direct Line and asked if they could price match. No but try their own online quote generator. So, whilst the operator remained on the phone I filled in the info and their instant quote was..... £205!!

Operator replied their online system was 'live' and instantly updated via their underwriters and consequentially he would happily revise my renewal accordingly.

 

[markjay]

I started with Norwich Union many years ago, then moved to Tesco for a number of years, and for the past 8 years I am with Aviva.

In each case, I remained with the same provider until their renewals became uncompetitive. I won't change provider for a few quid, but when there is a substantial difference in price, I would consider it.

At current I am paying Aviva around £350 per car per year. Which, given my circumstances - i.e.both cars are parked overnight on public roads in Central London, and that I need full business use cover - is more than reasonable.

This includes a small discount for getting a score of 9.8 on the Aviva Driving App

So far, Aviva did not substantially increase their premiums over the years, so I stayed with them.

I have no doubt that some insurers do increase premiums for no obvious reason, as experienced by others on here, but it is the nature of the beast that we only hear about those extreme cases, which is why it seems as if the entire motor insurance industry is in chaos.

'Aviva kept my premium the same as last year' is just not news

I am certain than many here like me simply renew their polices every year with the same insurer with no issues and no drama.

 

[alzieboy]

Once again Admiral came in with a Mickey Mouse renewal quote, rang them up and got it down to below what I paid for the E350cdi & the VW Golf gttdi 2.0 last year , £ 356 for both

 

[zipdip]

Lots of insurance companies have two different names,with house insurance I was looking around for a quote a couple of years ago,and the best and cheapest was Privilege which is the cheap Direct Line,top insurance came in handy when my neighbor put his C180 through the lounge wall.

 

[toffee-pie]

Ive got a premium of £850 with admiral, with pretty every box ticked (only policy where I added breakdown :$). Lexus was £455.

 

[RichM63]

I'll guess that part of the problem with UK insurance prices are the last 5 or 6 years of Flood Claims, not all of which may have been totally legit.

Apparently I am covered in the event of a Nuclear Attack, with a zero excess, this is handy to know!