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Aug 2023
12:04pm, 7 Aug 2023
50,576 posts
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♪♫ Synge ♪♫
So ... insurance policies. Usually when I get a renewal quote with a double-digit increase in the premium, I ring them up and get them to adjust the premium back to something that is at least close to last year's figure. This year, everyone is saying "sorry, that's the best we can do" and I am having to cancel policies and find alternatives. This is, of course, a real pain! Has anyone else experienced this year a greater unwillingness/ability on the part of insurers to "review" premiums in order to retain customers?
Examples:
Home and contents (Aviva) was £353, renewal is £481. No movement. Halifax are offering same terms for £391 and I'm still shopping around.
Car (Direct Line) was £241, renewal is £334. No movement. About to start shopping around.
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Aug 2023
12:09pm, 7 Aug 2023
7,301 posts
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bigleggy
The whole business model is based on Customer apathy. However due to inflation/cost of living etc etc, there isn't much of that around anymore. People are having to get savvy. So the insurers changed tack a bit and gone for the tried and tested 'Lower prices are for new customers only'.
It'll go on for a while until enough Customer apathy returns for them to maintain profits from it
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Aug 2023
12:11pm, 7 Aug 2023
25,662 posts
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GimmeMedals
My car insurance was cheaper with my current provider this year - shopping around I couldn't find anywhere near a price match, let alone reduction.
MSE says car insurance has gone up a lot due to big increases in costs for repairs and 2nd hand vehicles being worth more now due to reduced availability in new cars. I'm not sure why house and contents insurance has increased so much.
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Aug 2023
12:11pm, 7 Aug 2023
50,577 posts
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♪♫ Synge ♪♫
Interesting - that would make sense.
It has been more difficult to contact them this year and the "feel" of the conversations once you get to a real person has definitely been different too.
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Aug 2023
12:26pm, 7 Aug 2023
45,396 posts
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EvilPixie
HI up £40 and the quotes I have got else where are comparable so I'm not bothering any more
everything is going up even if they shouldn't!
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Aug 2023
1:15pm, 7 Aug 2023
1,134 posts
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Shades
As soon as I receive my renewal document I shop around to see if I can get a better price. I never ring current insurers to haggle as they should give me their best price with the initial renewal advice. When I phone current insurers to lapse the policy they offer a better price but never as good as my new insurers. I ask why they couldn't offer that price on my renewal documents, never got a satisfactory answer yet.
Needless to say I end up switching every year with my car insurance.
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Aug 2023
1:19pm, 7 Aug 2023
5,845 posts
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K5 Gus
I'm not sure why house and contents insurance has increased so much.
Building materials, and tradesmen day rates
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Aug 2023
2:38pm, 7 Aug 2023
64,848 posts
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Velociraptor
My parents had their car insurance (two people, two cars, both people named drivers on both cars) and house insurance with LV. When the renewal quote came in I thought it was rapacious but the comparison sites didn't offer much improvement so we went for it (I was doing that stuff for them at the time). Then Mum passed away, meaning one fewer car to which a statistically safer second named driver (me) would be added. I expected a refund, but the price of the policy was increased by around £100 and they wouldn't budge. This time, shopping around got a reduction of over £250 for slightly better policy terms.
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Aug 2023
2:49pm, 7 Aug 2023
1,135 posts
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Shades
My travel insurance renewal has come in at £81, I only paid £28 last year. That's a gigantic increase, I've quickly run it through the comparison sites, not much cheaper. I think the increase is mainly because of my age, nearly 67 now, no changes apart from getting older.
One of the cheaper ones didn't say they covered marathon running so have had to dismiss that one.
Thursday I have tasked sorting it out.
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Aug 2023
2:53pm, 7 Aug 2023
29,500 posts
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fetcheveryone
Cost of Fetch holding firm...
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Energy Bills
Nov 2024