trev Posted January 16, 2012 Report Share Posted January 16, 2012 My wifes Streetka is due for insurance renewal on the 29th January. Was £640 last year.Renewal landed today £1400!!!Quick look on Gocompare and cheapest is £600.12. Rang current insurer to decline auto renewal and they weren't bothered, didn't even try and retain the business!!Makes you wonder if they really struggle to make a profit due to claims or just poor business practice!?? Link to comment Share on other sites More sharing options...
jmpower1974 Posted January 16, 2012 Report Share Posted January 16, 2012 trev,Their business models are like that, they gain more from chancing it on a hefty renewal in the hope that someone just does it without thinking. I also think but cannot say for sure because Im not an actuary, that they are better off seeking new customers or returning after a year or two customers because they can get a better idea if their up to date risk profile as opposed to just renewing. Just thoughts but the industry has adapted now and repeat business means nothing to them so treat it as such. Loyalty is bullshyate. Link to comment Share on other sites More sharing options...
mazdaman Posted January 16, 2012 Report Share Posted January 16, 2012 Not sure if Quotezone will give you a cheaper quote but worth ago. Insurance make profit in other ways, last week I rang my insurance company to change reg number as finally got round to sorting out my private plate, charged £25 yet was only on the phone no more than 5 minutes!! Really irritates that they no effort to retain your custom.Good luck in your search for cheaper insurance Link to comment Share on other sites More sharing options...
trev Posted January 16, 2012 Author Report Share Posted January 16, 2012 Will have a proper look around this weekend, but happy at £600 to be honest. Cheaper than last year. Link to comment Share on other sites More sharing options...
mike597 Posted January 16, 2012 Report Share Posted January 16, 2012 ... happy at £600 to be honest.Cheaper than last year.I'd agree. That's not something it's been possible to say in recent years on many things. Link to comment Share on other sites More sharing options...
marcus gp1 Posted January 16, 2012 Report Share Posted January 16, 2012 All this cr*p about insurance cost's, started in 2009 after the bad floods in England, because of the huge payouts they all had to make. All the insurance companys just Load every type of insurance policy to claw back money they all had to pay out, never mind the fact that they've made billions from all of us for years, a couple of bad years with payouts, and it's an excuse to screw everyone, and not just for a year or two either, I usualy like to be Kissed before I get F--ked Link to comment Share on other sites More sharing options...
Stuart21UK Posted January 17, 2012 Report Share Posted January 17, 2012 I have to say guys, the current business model does stink but would 100% of you prefer to pay £800 or as is current 50% pay £1000 whilst the other 50% shop around and pay £600? You can't have it both ways...the current model is there to pamper to the general public who want to pay fek all for the product they are getting...I don't belive that insurance companies have decided to 'claw back flood claims in 2009 on every other type of insurance they offer', with respect unless you are in the indiustry and close to the price-makers that statement is complete 'pub expert' b*ll*cks.Also, you can't really moan about 'insurance companies making billions out of us' as EVERY business sector has made billions out of us (with a very few exceptions), if they didnt then they wouldnt be trading. No business is out there to lose money or even break even....that sort of comment is just ridiculousLike anything in life, you can rant about it, and moan its unfair or do something about it and vote wiith your feet...BTW Porsche Insurance (Aviva via March private clients) for the last 4 years has remained pretty constant at around £700-730 per annum and after a little gental persuasion have dropped the cost by £80+ each renewal from the proposed renewal cost. Last year I even increased my business miles to 10000 of the 12k overall and the premium ended up at £569! Link to comment Share on other sites More sharing options...
Dominouk Posted January 17, 2012 Report Share Posted January 17, 2012 Also, you can't really moan about 'insurance companies making billions out of us' as EVERY business sector has made billions out of us (with a very few exceptions), if they didnt then they wouldnt be trading. No business is out there to lose money or even break even....that sort of comment is just ridiculousLike anything in life, you can rant about it, and moan its unfair or do something about it and vote wiith your feet...Most sectors get by without having a law saying you have to buy their product. Vote with your feet? Do you mean walk or drive without insurance? Link to comment Share on other sites More sharing options...
Stuart21UK Posted January 17, 2012 Report Share Posted January 17, 2012 Also, you can't really moan about 'insurance companies making billions out of us' as EVERY business sector has made billions out of us (with a very few exceptions), if they didnt then they wouldnt be trading. No business is out there to lose money or even break even....that sort of comment is just ridiculousLike anything in life, you can rant about it, and moan its unfair or do something about it and vote wiith your feet...Most sectors get by without having a law saying you have to buy their product. Vote with your feet? Do you mean walk or drive without insurance?er of course not, I mean go the fek somewhere else for your cover!The legalities of having to take insurance dont come into the argument about pricing...Law or otherwise there is No 'Law' saying you have to renew with the same company so go elsewhere and maybe eventually they will get the message that the business model wont work long term (ie when EVERYONE renews elsewhere every year)...Hopefully you now follow what I was saying Dominouk.... Link to comment Share on other sites More sharing options...
mike597 Posted January 18, 2012 Report Share Posted January 18, 2012 That doesn't make a lot of sense.I have to say guys, the current business model does stink but would 100% of you prefer to pay £800 or as is current 50% pay £1000 whilst the other 50% shop around and pay £600? You can't have it both ways......so go elsewhere and maybe eventually they will get the message that the business model wont work long term (ie when EVERYONE renews elsewhere every year)...So what you are advocating is everyone renews every year which by your calculation will lead to a net overall increase in payments.By your logic (which I'm not disagreeing with BTW) shopping around is only beneficial if not everyone bothers.According to a BBC report this week, the rise in costs is directly attributable to the rise in claims for personal injury. These in turn are linked to the fact that insurance companies are taking payments to pass on the details of potential claimant to litigation specialists. The cost of payouts increases directly as a result so the cost of insurance policies has to rise. Reducing the amount of PI claims reducing the total payout and hence the average policy cost. It's basic maths.This is surely the problem and I believe it is something the government is investigating with a view to stopping the practice. Link to comment Share on other sites More sharing options...
marcus gp1 Posted January 18, 2012 Report Share Posted January 18, 2012 [quote name=That doesn't make a lot of sense.I have to say guys, the current business model does stink but would 100% of you prefer to pay £800 or as is current 50% pay £1000 whilst the other 50% shop around and pay £600? You can't have it both ways......so go elsewhere and maybe eventually they will get the message that the business model wont work long term (ie when EVERYONE renews elsewhere every year)...So what you are advocating is everyone renews every year which by your calculation will lead to a net overall increase in payments.By your logic (which I'm not disagreeing with BTW) shopping around is only beneficial if not everyone bothers.According to a BBC report this week, the rise in costs is directly attributable to the rise in claims for personal injury. These in turn are linked to the fact that insurance companies are taking payments to pass on the details of potential claimant to litigation specialists. The cost of payouts increases directly as a result so the cost of insurance policies has to rise. Reducing the amount of PI claims reducing the total payout and hence the average policy cost. It's basic maths.This is surely the problem and I believe it is something the government is investigating with a view to stopping the practice. YEh right just like the banks lookie no touchie I smell shyatee Link to comment Share on other sites More sharing options...
Dominouk Posted January 18, 2012 Report Share Posted January 18, 2012 Also, you can't really moan about 'insurance companies making billions out of us' as EVERY business sector has made billions out of us (with a very few exceptions), if they didnt then they wouldnt be trading. No business is out there to lose money or even break even....that sort of comment is just ridiculousLike anything in life, you can rant about it, and moan its unfair or do something about it and vote wiith your feet...Most sectors get by without having a law saying you have to buy their product. Vote with your feet? Do you mean walk or drive without insurance?er of course not, I mean go the fek somewhere else for your cover!The legalities of having to take insurance dont come into the argument about pricing...Law or otherwise there is No 'Law' saying you have to renew with the same company so go elsewhere and maybe eventually they will get the message that the business model wont work long term (ie when EVERYONE renews elsewhere every year)...Hopefully you now follow what I was saying Dominouk....Yes, I did guess you were simply suggesting changing insurer, that was somewhat tongue in cheek. The point I was trying to dispute, was about car insurance being like all other businesses, as most generally have to do it by having decent products and customer service. Car insurance is a legal requirement, so they don't have to work anywhere near as hard as other businesses. Also by your own argument they don't even have to try to keeping you as a customer, as even if you leave this year, they know you may come back next year... Link to comment Share on other sites More sharing options...
Bike Loon Posted January 18, 2012 Report Share Posted January 18, 2012 My insurance on the car last year was £380, this year £503. The car is a year older, worth less money, 1 years more no claims.. grr. Shopped around and the renewal was the cheapest. In that industry if they all stick together we have no choice Link to comment Share on other sites More sharing options...
EXY Posted January 18, 2012 Report Share Posted January 18, 2012 Also, you can't really moan about 'insurance companies making billions out of us' as EVERY business sector has made billions out of us (with a very few exceptions), if they didnt then they wouldnt be trading. No business is out there to lose money or even break even....that sort of comment is just ridiculousLike anything in life, you can rant about it, and moan its unfair or do something about it and vote wiith your feet...Most sectors get by without having a law saying you have to buy their product. Vote with your feet? Do you mean walk or drive without insurance?Trouble is there are a LOT of people doing just that, I believe the current guesstimate is that uninsured drivers cost each insured driver an extra £80pa on their policy.I see accidents driving around everyday, they just haven't achieved their full potential yet. I would like to see accident free drivers awarded increasing NCB and the bad/careless/couldn't give a fek fekwits priced off the road. Anyone caught without insurance should ALWAYS have their car seized and crushed unless claimed pronto. This namby pamby cr*p doesn't work.I haven't had an accident/claim in over 20 years (IIRC) but my NCB has been fixed for the past 15 years or so, why should I pay to subsidise these morons.Anyway, glad you got sorted Trev, that's another one to strike off the list Link to comment Share on other sites More sharing options...
spyderman8 Posted January 19, 2012 Report Share Posted January 19, 2012 Also by your own argument they don't even have to try to keeping you as a customer, as even if you leave this year, they know you may come back next year...And I guess there's actually not many insurance companies - some of the biggest trade under multiple names, so you might think you're switching, but you're not. Link to comment Share on other sites More sharing options...
Stuart21UK Posted January 19, 2012 Report Share Posted January 19, 2012 That doesn't make a lot of sense. I have to say guys, the current business model does stink but would 100% of you prefer to pay £800 or as is current 50% pay £1000 whilst the other 50% shop around and pay £600? You can't have it both ways... ...so go elsewhere and maybe eventually they will get the message that the business model wont work long term (ie when EVERYONE renews elsewhere every year)... So what you are advocating is everyone renews every year which by your calculation will lead to a net overall increase in payments. By your logic (which I'm not disagreeing with BTW) shopping around is only beneficial if not everyone bothers. According to a BBC report this week, the rise in costs is directly attributable to the rise in claims for personal injury. These in turn are linked to the fact that insurance companies are taking payments to pass on the details of potential claimant to litigation specialists. The cost of payouts increases directly as a result so the cost of insurance policies has to rise. Reducing the amount of PI claims reducing the total payout and hence the average policy cost. It's basic maths. This is surely the problem and I believe it is something the government is investigating with a view to stopping the practice. What I am saying is work the system if you are not happy with your renewal and accept that is what you have to do…I hate it as much as the next person. I believe loyalty should count fro something but there is little point moaning about it as it is, what it is. As far as the cost increasing if everyone shopped around every year…we both know that will never happen (everyone shopping around that is) and the insurance companies know that too, hence the business model. They know that those that are wise to it do it and those that aren’t or are too lazy won’t Also, you can't really moan about 'insurance companies making billions out of us' as EVERY business sector has made billions out of us (with a very few exceptions), if they didnt then they wouldnt be trading. No business is out there to lose money or even break even....that sort of comment is just ridiculousLike anything in life, you can rant about it, and moan its unfair or do something about it and vote wiith your feet...Most sectors get by without having a law saying you have to buy their product. Vote with your feet? Do you mean walk or drive without insurance?er of course not, I mean go the fek somewhere else for your cover!The legalities of having to take insurance dont come into the argument about pricing...Law or otherwise there is No 'Law' saying you have to renew with the same company so go elsewhere and maybe eventually they will get the message that the business model wont work long term (ie when EVERYONE renews elsewhere every year)...Hopefully you now follow what I was saying Dominouk....Yes, I did guess you were simply suggesting changing insurer, that was somewhat tongue in cheek. The point I was trying to dispute, was about car insurance being like all other businesses, as most generally have to do it by having decent products and customer service. Car insurance is a legal requirement, so they don't have to work anywhere near as hard as other businesses. Also by your own argument they don't even have to try to keeping you as a customer, as even if you leave this year, they know you may come back next year...You know a lot of companies (other than insurance companies) that have decent products and good customer service? I know there are some good guys out there (John Lewis springs to mind) but IMO they are thin on the ground whichever business sector we are talking about. I honestly don’t believe many big companies actively try to retain their customer base and/or try to keep you do they?Also by your own argument they don't even have to try to keeping you as a customer, as even if you leave this year, they know you may come back next year...And I guess there's actually not many insurance companies - some of the biggest trade under multiple names, so you might think you're switching, but you're not.I was once told by my Halifax Rep that there were some 318 companies offering buildings and contents insurance BUT that in reality there was actually in the background only about 10% of these. IIRC in the car insurance world (I could be wrong) isn’t Churchill the same as Direct Line which was also Tesco and Diamond/ Shelia’s Wheels and all being Natwest/RBS group companies too? Link to comment Share on other sites More sharing options...
Dominouk Posted January 20, 2012 Report Share Posted January 20, 2012 That doesn't make a lot of sense. I have to say guys, the current business model does stink but would 100% of you prefer to pay £800 or as is current 50% pay £1000 whilst the other 50% shop around and pay £600? You can't have it both ways... ...so go elsewhere and maybe eventually they will get the message that the business model wont work long term (ie when EVERYONE renews elsewhere every year)... So what you are advocating is everyone renews every year which by your calculation will lead to a net overall increase in payments. By your logic (which I'm not disagreeing with BTW) shopping around is only beneficial if not everyone bothers. According to a BBC report this week, the rise in costs is directly attributable to the rise in claims for personal injury. These in turn are linked to the fact that insurance companies are taking payments to pass on the details of potential claimant to litigation specialists. The cost of payouts increases directly as a result so the cost of insurance policies has to rise. Reducing the amount of PI claims reducing the total payout and hence the average policy cost. It's basic maths. This is surely the problem and I believe it is something the government is investigating with a view to stopping the practice. What I am saying is work the system if you are not happy with your renewal and accept that is what you have to do…I hate it as much as the next person. I believe loyalty should count fro something but there is little point moaning about it as it is, what it is. As far as the cost increasing if everyone shopped around every year…we both know that will never happen (everyone shopping around that is) and the insurance companies know that too, hence the business model. They know that those that are wise to it do it and those that aren’t or are too lazy won’t Also, you can't really moan about 'insurance companies making billions out of us' as EVERY business sector has made billions out of us (with a very few exceptions), if they didnt then they wouldnt be trading. No business is out there to lose money or even break even....that sort of comment is just ridiculousLike anything in life, you can rant about it, and moan its unfair or do something about it and vote wiith your feet...Most sectors get by without having a law saying you have to buy their product. Vote with your feet? Do you mean walk or drive without insurance?er of course not, I mean go the fek somewhere else for your cover!The legalities of having to take insurance dont come into the argument about pricing...Law or otherwise there is No 'Law' saying you have to renew with the same company so go elsewhere and maybe eventually they will get the message that the business model wont work long term (ie when EVERYONE renews elsewhere every year)...Hopefully you now follow what I was saying Dominouk....Yes, I did guess you were simply suggesting changing insurer, that was somewhat tongue in cheek. The point I was trying to dispute, was about car insurance being like all other businesses, as most generally have to do it by having decent products and customer service. Car insurance is a legal requirement, so they don't have to work anywhere near as hard as other businesses. Also by your own argument they don't even have to try to keeping you as a customer, as even if you leave this year, they know you may come back next year...You know a lot of companies (other than insurance companies) that have decent products and good customer service? I know there are some good guys out there (John Lewis springs to mind) but IMO they are thin on the ground whichever business sector we are talking about. I honestly don’t believe many big companies actively try to retain their customer base and/or try to keep you do they?Apple didn't need a law to force me to buy an mp3 player, just a great product. Porsche didn't need a law to force me to buy a car, just a great product. Samsung didn't need a law to force me to buy a phone, just a great product. Sony didn't need a law to force me to buy a TV, just a great product.I could go on, but I've only included a small number of companies that have not only had great products, but have also proved themselves to me personally by having great customer service too.You still don't seem to have got my point, car insurance is a legal requirement, so even if everyone was highlighting how great their car insurance was, what a nice surprise the reasonable renewal was and what great customer service they'd had (which I don't think they are), the insurance sector would still have an easier time than any other sector as car insurance is a legal requirement, not a choice.I won't bother replying any more, as if you haven't understood it yet I doubt you ever will. Link to comment Share on other sites More sharing options...
Stuart21UK Posted January 21, 2012 Report Share Posted January 21, 2012 You are stating the obvious so your point is that 'pointless'....Unless you are suggesting that if Insurance companies were better with their customers then we could take away the legal requirement?!I think what you've actually given as an example (Apple/Samsung etc) is entirely what I was saying...if you dont like the service/product/price then go somewhere else....that is exactly what you did with your apple/samsung etc product...you bought what you wanted from a company you were happy to deal with...?!You've got tobe a blind idiot (no offence to blind people or idiots) not to understand that?As a point, there are actually some good insurers and if you read back to my initial post then you will see that I mentioned Porsche insurance (AKA Marsh private clients as at least being consistent with their renewal premiums)... I am so glad you wont give me the pleasure of replying again, my brain is hurting from trying to type and state the obvious to you. Link to comment Share on other sites More sharing options...
EXY Posted January 21, 2012 Report Share Posted January 21, 2012 You are stating the obvious so your point is that 'pointless'....Unless you are suggesting that if Insurance companies were better with their customers then we could take away the legal requirement?!I think what you've actually given as an example (Apple/Samsung etc) is entirely what I was saying...if you dont like the service/product/price then go somewhere else....that is exactly what you did with your apple/samsung etc product...you bought what you wanted from a company you were happy to deal with...?!You've got tobe a blind idiot (no offence to blind people or idiots) not to understand that?As a point, there are actually some good insurers and if you read back to my initial post then you will see that I mentioned Porsche insurance (AKA Marsh private clients as at least being consistent with their renewal premiums)...I am so glad you wont give me the pleasure of replying again, my brain is hurting from trying to type and state the obvious to you.To be fair to Domino I can all too easily see his point.Insurance IS a legal requirement, the choice of company is open to you PROVIDING there is more than one company willing to quote/cover you.If for example you were a fringe/special case (like Simon or Geoff for instance ) and you were reduced to one specialist company then it is very hard to vote with your feet.How many times recently have you been asked by a renewal pleb "Have you ever had insurance refused/declined/withdrawn" etc. Just do what most do and lie like a fekker Link to comment Share on other sites More sharing options...
wulfy66 Posted March 23, 2012 Report Share Posted March 23, 2012 My insurance on the car last year was £380, this year £503. The car is a year older, worth less money, 1 years more no claims.. grr. Shopped around and the renewal was the cheapest. In that industry if they all stick together we have no choice same ere Loon, Swift was £380 last year but want £450 - we pay the price for all the scumbags not paying for insurance Link to comment Share on other sites More sharing options...
trev Posted March 23, 2012 Author Report Share Posted March 23, 2012 Thread resurrection but try this.....My renewal is due on 4th April. Now have a 1.8 Vectra to replace the 2.5 Boxster. Insurance is £80 more on the Vectra!!Wtf..!!! Link to comment Share on other sites More sharing options...
mike597 Posted March 23, 2012 Report Share Posted March 23, 2012 Not just down to 'general increases' ? i.e. would it have more on the Box this year. Link to comment Share on other sites More sharing options...
trev Posted March 23, 2012 Author Report Share Posted March 23, 2012 Did side by side quotes.To renew both now with identical details.Vectra is £80 more. Link to comment Share on other sites More sharing options...
wulfy66 Posted March 23, 2012 Report Share Posted March 23, 2012 My insurance on the car last year was £380, this year £503. The car is a year older, worth less money, 1 years more no claims.. grr. Shopped around and the renewal was the cheapest. In that industry if they all stick together we have no choice Just tried r&h specialist insurance on 01277206912 and was pleasantly surprised...£365 on classic car insurance - £85 cheaper than renewal with Swift + cover includes breakdown so that's another £70 saved AND I don't have to have the tracker subscription (which is a real bummer cos I just paid £250 for lifetime cover on wednesday - wonder if I will be able to cancel it now?) Link to comment Share on other sites More sharing options...
spyderman8 Posted March 23, 2012 Report Share Posted March 23, 2012 I just paid £250 for lifetime cover on wednesday - wonder if I will be able to cancel it now?)If you paid by credit card then yes - distance sales regulation (or something). Link to comment Share on other sites More sharing options...
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