Do insurance companies think we're stupid?

[bobmac]

After I turned 50 I thought my car insurance would drop so I contacted SAGA (I know but it will come to you all one day).
Introductory offer for new members ....£164. Sorted
Year 2 ....I expected it to go up as the first year was a "special introductory price" so not surprised to see my renewal was £224 which was still not bad.
Year 3.... £309 WHAT THE......DICKENS is going on.
A quick search on line produced a similar coverage for £207.
Phonecalls made, policies cancelled and £102 better off.
Sorted

So please, dont renew anything unless you check first.
It's your money they're wasting

 

[Birchy]

Insurance companies are terrible for this. Its like the more loyal you are the more you get ripped off

 

[gregbwfc]

Bizarrely, mine has dropped a bit both of the last 2 years - go figure.
Bob, remind them you're 50 not 15

 

[la_lucha]

You should always reject the renewal. It may be the case that if you ask for a new policy with the same company then you shall get the introductory offer again. I've done this many times with Direct Line and made no efforts to disguise the fact that I am by no means a new customer.

 

[chrisd]

You'd be surprised how many people just automatically renew - so the answer to your question is YES!

 

[Aztecs27]

You'd be surprised how many people just automatically renew - so the answer to your question is YES!

This. They make their money by giving renewal quotes and people not doing anything about it and letting their insurance auto-renew.

Did a comparison quote for my renewal and it's coming up £150 cheaper than what I paid last year, so will be considerably cheaper than the renewal quote, I'm sure! Only thing that's changed is I got married...so it has some benefits!

 

[Doon frae Troon]

This year I was so fed up with this tactic I rang my insurers up and asked to speak to a supervisor.
I told her what I thought of their business model and gave her ten minutes to come back to me with a 'proper' quote or I would go to another company.
Came back in with a lower than the previous year......surprise surprise!

 

[Chrisb83]

I stupidly left the Mrs to sort out the house insurance for years until one day I opened the post to find the renewal price of £640 :-O from direct line.

Anyway went on the direct line website did it as a new customer came out at £168 needless to say I rang them gave them both barrels and then had to cancel my existing policy and re do it online myself as they apparently could match their online offer over the phone... Pointless them been there really.

I have since moved our gas and electric supplier and am in the process of looking into getting a water meter and saving a fortune although it's all just going on food shopping now but that's another rant for another day.

 

[Pin-seeker]

I had motor insurance with AA.When my renewal came through it'd gone up quite a bit so I did a search on Money supermarket. The cheapest quote it come up with was the AA,bit it was quite a bit cheaper than my renewal quote. When I phoned AA to queary this I was told I would have to cancel my policy & start it again via money supermarket. I cancelled & went with the 2nd cheapest out of principal.
The worlds gone mad!

 

[DAVEYBOY]

Yep Direct Line want £750 for my renewal... Quick check on compare the meerkat and £470 seems the norm for me so DL can swivel.