I rarely post these days but the earth moved for me when my insurance renewal arrived. Being a tightwad I made sure I got a good deal last time round. I always include legal cover, due to good experiences, and i like to have european breakdown so that if I choose i can zip off to the continent without any problem.
So the renewal arrived and of course i went straight to a comparison website. £310 was the renewal quote, but Tesco came out at £205. This didn't include european breakdown cover and that is an extra £58 to £64 depending on which cover is chosen. so not too far out and worth checking the detail to see if a true like for like would have narrowed the gap.
I found that my current insurer would automatically renew using the credit card from last time round, how kind, unless I called in to instruct otherwise. That was in their covering letter, funnily enough the £55 "administration charge" should a refund be required in the case of inadvertent renewal wasn't mentioned, except in the voluminous small print. They also wanted to levy a £36 "renewal administration fee" on top of the premium. Gosh. Oh, and the breakdown cover had been downgraded to UK only.
So it looks like a little more spade work this evening to check out all the details before I renew elsewhere. Why am I not surprised? what a great way to turn somebody who is indifferent to their insurer and happy to renew for a fair price and a straight deal into a price seeking deal chaser.
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the wheeled red phone company?
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No it wasn't actually, any more guesses anybody?
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Admiral have been good at inventing new charges too.
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I've
been teasing long enough - it was Grove and Dean. But aren't they all at it?
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This year I've been a good boy and looked at the comparison sites well in advance. The Suzi is July 1st and the Nissan July 8th.
The Nissan ...easy......Swiftcover sent my renewal in good time, a few quid cheaper than last year with auto renewal. Left them to it. No hassle. A few cheaper quotes but not enough difference to make me go through the aggro of changing.
The Vitara. 1st Central.... Online comparison quote £315. Again, some cheaper but not very much. Waited to see what the paper quote was....£365. That included, in the small print, £50 admin fee !
Then they sent me an email quote...£395...getting silly now so I retrieved my £315 quote and bought it on line. Downloaded the certificate and went to tax the car...no problem, continuity of cover. I'm getting texts and emails from the same people telling me my insurance is about to expire. Perhaps if the different people there actually spoke to each other ?
I insured the bike at the same time.....£90 comp. A phone call the following day surprised me by telling me it was already insured. I distinctly remember saying, last October, that I wasn't renewing for a while. They'd just gone ahead and done it. Getting the £90 back but will have to re-insure end of October. Just need a new front tyre, £100, an MOT and then tax it.
It's like wandering through a maze
Ted
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Glad its not just me then that finds this so tedious. A quick update, my spadework on the internet last night came up with a price of £197. I then have to add on european breakdown cover at around £60. So a saving of £50 over the original renewal price, and enormous satisfaction in doing so!
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I know many people have inertia and may not bother but the ill-will generated by this sort of "selling" must be counter productive.
Especially as it drives away the more savvy - and presumably potentially better off- customers.
Tesco stands as an example of that policy carried to extremes and the resulting consequences over years.
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>> Glad its not just me then that finds this so tedious.
+1
Seems you have to haggle over everything these days. Mobile and landline contracts, insurance, broadband, subscription TV, etc.
Car insurance was due for renewal at the start of the month. £415 to stay with Tesco another year. Go online and found Direct Line would do it for £290. Tried Tesco's website and it was £350. Phoned Tesco up to see if they could do a better deal.
Tesco "Oh no sir, £415 is our best quote we can give you"
Me "Why is it your internet site gives me a price of £350 then? Is it because it thinks I'm a new customer and therefore I get a better deal?"
Tesco "No sir, hang on a moment ........ we can do it for £350 if that's what you've been quoted on-line"
Me "Trouble is, your internet site only gives me the option of choosing a voluntary excess of either £50, or £150. I can't select £100 which I've already got"
Tesco "if you want the policy with £100 excess on it then that will be £314"
Me "That's fine. Renew for another year then"
Yes, Tesco were still slightly dearer than Direct Line, but just over £100 cheaper than their original renewal letter.
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I've said it before but as mine is due any minute and I expect I'll find it again, but worse. Every year, no matter what the premium looks like, you have to read the policy more and more closely.
It used to be your excess was what you chose, and there you are. Now some have a compulsory excess as well as your voluntary, hidden away. Now some have different excesses on glass breakage. Now some have an excess if you don't use their approved garage. Now some have an excess if you take a courtesy car, even if its "included". Some even add the excesses together!
Add in the creeping admin charges for such things as actually paying a claim, and almost always the cheaper ones are nowhere near like for like with the more expensive.
Last year mine was about £400 ish, but the cheapest apparent ones were sub £200. Until you really really read the small print. They then turned out to be the same ballpark premiums if you try to get somewhere near like for like, and even then had worse conditions.
Even if you do a straight renewal I find the policy has some of the above creeping in, so in fact it's not such good cover as you thought.
Minefield doesn't begin to cover it.
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I'm thinking of getting a second car, replacing the original with a practical estate, plus a 'new' fun car. I rang my IAM insurers, gave them details of the potential 'fun' car, and received a large quote. No NCD on the 'second' car blah blah. Their reply was to do an internet search, and they would try to match it.
If a multi car policy is so much hassle, I just feel that I can't be asterixed.
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Classic insurance is a good wheeze if you can get it.
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>>Their reply was to do an internet search, and they would try to match it.
Think of a comparison website, make up a reasonable premium, tell them. When they ask which company, refuse to do their whole job for them.
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That EXACTLY mirrors my experience with Tesco motor renewal, even down to the excess choice!
I'm also with then for house & contents at a decent premium.
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I was discussing shopping round for insurance renewal quotes with my son just yesterday.
Where he works the rate of pay is less than £10 per hour. He has tried to persuade his colleagues of the benefits of shopping around and using cashback websites. They are either not interested or fearful of this approach.
I gave him my own example where I have saved £110 in various ways on my household insurance for less than 30 minutes work. An hourly rate of "pay" of £220 comparing very well with what he and his colleagues are earning.
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It's a zero-sum game, remember: those that don't ask for a reduction subsidize those of us that do. It's a point the government spectacularly missed when it announced a plan to compel energy companies to offer their 'best tariff' to every customer.
For two-car policies, others here have been pleased with Admiral but I'm evidently not in its target group, to judge from the quotes I got last year. Aviva, on the other hand, had an 'introductory offer' that worked out very well. Then this year's renewal came in at £780 - not outrageous for two big cars but I'd have preferred £600. I rang them to say so and, after a rather laborious hour on the phone, they told me they couldn't do £600 but would £535 do?
I do earn more than £10 an hour - but less than £250!
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Rip off renewal - Zero
