The Motor Forum

gonnabuildabuggy · Posted: Sat Jul 04, 2009 10:15 am Post subject: another insurance thread

why oh why do insurers always charge existing customers more than new ones?

Every year I end out taking a new policy to keep my costs down, invariably with my "existing" insurer.

Just did confused.com and found several cheaper insurers, then when I add on the "extras" (breakdown/legal) the price ends up the same as my current one but still cheaper than my renewal.

surely it would be cheaper to look after existing customers...or are most people so lazy they don't bother getting alternative quotes?

Hopefully one benefit of confused and the meerkats is that people will find it easier to move and insurers will try harder to retain our business.
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Matt · Posted: Sat Jul 04, 2009 11:13 am Post subject:

I'd have thought to promote competition, renewals have to be higher? If your renewal was consistently cheaper than other's new quotes, nobody would get new business.
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Small car, big heart.

Mark · Posted: Sat Jul 04, 2009 11:15 am Post subject:

gonnabuildabuggy · Posted: Sat Jul 04, 2009 12:23 pm Post subject:

Matt · Posted: Sat Jul 04, 2009 12:32 pm Post subject:

I was thinking that the insurance companies were mandated to offer higher renewals, not simply business practice.
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Small car, big heart.

DaveGibson · Posted: Sat Jul 04, 2009 1:01 pm Post subject:

I had a similar situation, last month. My Esure renewal was higher than their quote via Confused.com so I called them and said I'd renew with them if they matched the comparison price. The chap asked for the confused reference number and then told me that I'd specified a lower miles/year figure than on my renewal. He asked me how many miles I actually did and then reduced the quote to an even lower figure. I saved about £25 over the renewal price.

DetmoldDick · Posted: Sat Jul 04, 2009 1:08 pm Post subject:

Under law, UK and European, ALL people are entitled to equal rights, be they black, white, male, female etc etc..
Surely this means that this can be extented to existing customers of insurance companies having the same rights as new customers.
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Blarno · Posted: Sat Jul 04, 2009 7:28 pm Post subject:

It's the same with a lot of companies. SKY are notorious for buttering up new customers, whilst simultaneously shafting those who have been customers for years.

I want SKY+ and don't see why I should pay for it when a new customer gets it gratis.
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canadian bacon · Posted: Sat Jul 04, 2009 7:43 pm Post subject:

just got the renewal on the frog, its actually gone down (though not by much)....153 dollars a month last yr to 143 dollars a month this yr, am told its because I have some 'history' now, we don't get no claims bonus here, so I suppose I shouldn't complain.
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Matt · Posted: Sat Jul 04, 2009 9:31 pm Post subject:

Blarno · Posted: Sat Jul 04, 2009 9:38 pm Post subject:

I'm going to give that a try. Might wait until this series of Lie To Me finishes first.
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It's time to kick ass and chew bubblegum....And I'm all out of gum.