Insurance renewal nearly doubles

sharpyboy · Post by **sharpyboy** » Fri Jul 28, 2017 3:11 pm

I had my insurance renewal quote from the RAC today and it was £620! Up from £320 last year. If I didn't do it over 12 months I could pay £549!. This is for myself and my son as a named driver, nothing has changed from last year so I don't understand the increase. I called them asking why and they said something about there not being any discount from Internet comparison sites and may not be the same underwriters and they checked again and Said the amount had actually gone up since the letter was posted. Needles to say I got them to cancel the renewal and checked the meerkat people and was quoted £211 (although this doesn't have the RAC breakdown included) but will take this out separately. What a scam this insurance caper is, I wonder how many renew without checking just cos it's easier.

I did think about the forum Chris Knot scheme but have heard mixed reviews about it.

mmm-five · Post by **mmm-five** » Fri Jul 28, 2017 3:38 pm

Sorry, but I thought that by now everyone would know to NEVER accept the renewal quote, or the first price you see!

Just do a quick internet comparison on any purchase, be it insurance, electronics, loans, credit cards, or sofas.

Darren Slone · Post by **Darren Slone** » Fri Jul 28, 2017 3:40 pm

Change every year, they all offer discounts for new customers and hike up existing customers for staying with them, heaven forbid you have a claim, or drive in red socks on a particular day, didn't you read ' you're not allowed to wear red socks on a Tuesday and drive , it's in the T&C's

Mr Tidy · Post by **Mr Tidy** » Fri Jul 28, 2017 10:47 pm

Yes, I get with the meerkats every time a policy comes up for renewal and always find something cheaper!

I know Chris Knott have had mixed reviews, but I went with them in 2016 and got a decent price at renewal this year (didn't work out like that with my house though)!

bbrys · Post by **bbrys** » Sun Jul 30, 2017 3:00 am

OMG, mine is around £1050

jimbo1958 · Post by **jimbo1958** » Sun Jul 30, 2017 6:50 am

Mine went up £80 and couldn't get them (Direct Line) to budge on price like other years. Still worked out cheaper than most on gocompare though so stayed with them.

sticky · Post by **sticky** » Sun Jul 30, 2017 7:29 am

mine went down from 338 to 229 on renewal quote, I did check others, ca 5-20 £ difference so kept it where is

Yorkie Z · Post by **Yorkie Z** » Sun Jul 30, 2017 8:14 am

bbrys wrote: ↑Sun Jul 30, 2017 3:00 am OMG, mine is around £1050

I'm guessing you're 12 though

philip27 · Post by **philip27** » Sun Jul 30, 2017 8:40 am

I am currently with esure. My renewal this year was actually cheaper than anyone else. It had gone down by a massive £2 on the previous year.

It does feel like it's a complete scam though in general. I have no idea how there can be such huge price differences.

step_change · Post by **step_change** » Sun Jul 30, 2017 10:19 am

Anyone who automatically accept the renewal is a mug. It is sad, and it begs the question, whatever happened to loyalty? But it's the way it is unfortunately. And it is that way because too many people are mugs who just accept the renewal premium. So they can get away with it.

My house and contents had gone up to £400. Got a couple of other quotes and phoned the original one up telling them that at £400 they were taking the piss. They promptly got it down to £280. I asked them why didn't they offer me £280 in the first place? They said they have access to a "customer retention fund" that can reduce the £400 to something "more manageable" if customers call them. Exactly the same policy.

Rip off Britain indeed. Same goes for gas/electric/mobile/insurance.

Magicarcher · Post by **Magicarcher** » Sun Jul 30, 2017 2:11 pm

Generally it doesn't pay to do car insurance over 12 months, it hikes the price up big time. You can usually find a much more cost effective loan if you don't have the money.

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