Now then...
Renewal is due on the 24th of this month. My current insurer, LV= have reduced (yes, reduced) my premium this renewal to £340.81 which includes a 5% discount as Mrs DB also insures through them. £350 excess, legal expenses, but no replacement temporary car. I pay monthly, so the actual total premium is £368.28.
Equity Red Star, who organise First Direct's insurance have quoted £306 with a £350 excess, legal expenses AND a replacement temporary car. Paying monthly increases the total premium to £321.
So, there's a £47 saving with slightly better add-ons. Except, is there? My wife will lose her 5% discount (only worth £12.50 ish) when she renews in March. ALso, the saving is actually a "we'll beat your renewal by 10%". I'm suspicious that the premium will be ramped up next year, whereas LV= seem to be fair in their renewals as opposed to new customer quotations. I even feel a little loyalty to them (woah!)
LV= won'tbudge on their premium or terms.
Do I ditch them?!!
DB
|
|
Equity Red Star are pretty good had bikes insured with them in the past - they seemed sensible and straightforward. No insurance company will be loyal to you - ever. Is £30 quid saving something you need ?
|
A saving is a saving is a saving I suppose... I don't need the saving, but it's nice to get something a bit cheaper isn't it?
In years gone past I'd leave it, but redundancy and the subsequent financial stress has taught me to look after what I have. Hence why the perceived probably hike next year is confusing me...!
|
|
Be an Insurance tart then - shop around for a better deal next year ! - Nothing says you have to stay with them.
|
I reckon a £30 saving is on the cusp of whether it's worth changing or not.
|
I see what you're saying, but with paying monthly it's a £47 saving, plus the ERS quote includes a replacement car.
On the cusp, or not...?
|
...but with paying monthly it's a £47 saving...
That would push it into change territory for me.
|
>> ...but with paying monthly it's a £47 saving...
>>
>> That would push it into change territory for me.
>>
Nearly a Pound a week! Well worth it. They'll be another Pound elsewhere too. Tis easier to save Quid than to earn it.
|
>> I see what you're saying, but with paying monthly it's a £47 saving, plus the
>> ERS quote includes a replacement car.
>>
>> On the cusp, or not...?
>>
It's not a £47 saving when you factor in your wife's renewal.
If you can, pay it in one and you can split the difference and your wife keeps her discount.
|
>>but with paying monthly it's a £47 saving<<
That's 3 X 50kg sacks of House coal - go 4 it.
|
Or in my case, 15 bags of quality logs....
Hopefully the quote details will arrive in the post today so I can check everything and then change over....
|
>> No insurance company will be loyal to you - ever.
I disagree. On one occasion I bought a car which came with 12 month's free insurance, which I accepted. During that 12 months my car was damaged in a carpark and I claimed on the free insurance. At the end of the 12 months I contacted my former insurer and asked to go back to them. They said that in line with their rules I had invalidated my NCD protection by having a different insurer for 12 months, and that the accident claim would reduce my NCD. I pointed out how long ago it was that I first insured with them and they immediately reinstated my former level of NCD and my NCD protection. That's loyalty.
|
>> (better quote)
>> LV= won'tbudge on their premium or terms.
>> Do I ditch them?!!
Many insurance companies depend on "inertia" in exixting custom. However, they won't reward you. Switch.
|
Privilege have reduced my premium by £13 this year. Not alot but atleast its gone down. Believe the papers and you would think it would have gone up.
Ill still shop around though, just incase.
|
|
I was with LV for years; I left because of some mis-information they gave me re the T&C of my policy. When renewal came up I went back for a quote and they were totally inflexible. I like them and their service but £240, against £168 frome E Sure was too much.
|
|
My insurance is due on 1st December, and I'm with LV=. Renewal premium is £337 for my Honda Accord iCTDI Tourer. I got note from E-Sure this morning suggesting that the majority of drivers only pay £197. I 'phoned, and refused to give LV='s renewal premium. E-Sure wanted £447 - £110 more than LV=.
|
Esure do my 2 cars for £330 - Xtrail (07)and Xedos(98) - nobody I have heard off comes close to that - Comp, £200 excess, 2 drivers only.
They wanted £150 to add my eldest as an additional casual driver, he only pays £300 for his Lexus with them!
|
I got my renewal from LV Frizzell today. Renewal - £ 414. At the base of the letter was a bit about new policies being available which may reduce premiums - so I phoned and got a new policy quotation for £ 320.
Keeps the Guaranteed NCD, business use for myself and my partner, the £ 50 excess (£75 for glass) and the courtesy car. Additionally includes £ 100,000 personal accident cover (up from £ 10,000).
|
Just got my motor insurance renewal quote through from Swiftcover.
Now, in the past I've changed insurer almost every year to improve on the quote. This will be the second year that I have renewed with Swiftcover as their quotes remain highly competitive.
The figure quoted of £210 is unmatched by other companies, the nearest is more than 50% higher.
Well done, Swiftcover, for not throwing away my business whilst fruitlessly chasing new business, as other companies seem to do.
Makes my life easier, as well, not having to move to another insurer.
|
|
It's as well to check the on-line quotation.
|
|
Als worth noting that first direct will beat your renewall with the same terms by at least 10%, so if your renewal is the cheapest quote you could still save youself a bit more. There policy is provided by equity red star who I understand to be quite good, whereas I believe that swift cover are cheap, but cheap for a reason
|
|
As ever, the value of an insurance policy is not the cost of the premium but the way in which the insurer deals with your claim.
|
Insurance Renewal - R.P.
