Haggling Insurance Prices

MonkeyLove

MonkeyLove

Striker
Have companies just stopped doing this now?

I phoned up Nationwide home insurance earlier (Think it’s actually run by Royal Sun Alliance). And pressed the ‘To talk about your renewal’ option - Which is even worded like it’s where you go to ask about the price.

Asked the lass a few questions about no claims, excesses, limits etc… just to check it was comparable with the comparisons I’d done online and when it was asked the question of can you do anything re price. She said something like Natiowide usually do best and final offers.

Was thinking that if I actually said I want to cancel you would still then be put through to a retention team but before I even asked she said do you want me to cancel for you now backdated to the end of the policy next week.

I always thought insurance was a very competitive market and that they fell over themselves to try and get the price down if you wanted to leave but she didn’t seem enabled to do anything with it or even direct to another team who could.
 


You’d have been better off asking her while you were on.

But, the rise of comparison sites probably makes it a thankless task.
 
When a £40k car can be taken and driven away in under 20 seconds it’s not surprising insurance costs are rocketing.

www.theguardian.com

Gone in 20 seconds: how ‘smart keys’ have fuelled a new wave of car crime

One London resident watched on CCTV as a thief walked up to his £40,000 car and drove away. Now manufacturers say they are being drawn in to a hi-tech ‘arms race’ with criminals
www.theguardian.com www.theguardian.com

Ridiculous the industry let stuff like this happen after a few years of really tightening up on car thefts.
 
MonkeyLove said:
Have companies just stopped doing this now?

I phoned up Nationwide home insurance earlier (Think it’s actually run by Royal Sun Alliance). And pressed the ‘To talk about your renewal’ option - Which is even worded like it’s where you go to ask about the price.

Asked the lass a few questions about no claims, excesses, limits etc… just to check it was comparable with the comparisons I’d done online and when it was asked the question of can you do anything re price. She said something like Natiowide usually do best and final offers.

Was thinking that if I actually said I want to cancel you would still then be put through to a retention team but before I even asked she said do you want me to cancel for you now backdated to the end of the policy next week.

I always thought insurance was a very competitive market and that they fell over themselves to try and get the price down if you wanted to leave but she didn’t seem enabled to do anything with it or even direct to another team who could.
Click to expand...
They accept that people can get it cheaper elsewhere ,even my renewal says as much
 
There’s surprisingly little money to be made in consumer insurance, the motor insurance sector usually runs at a loss and I don’t think home insurance is much better. I think the competition has given way to avoiding losing money.
 
Hair Flick said:
When a £40k car can be taken and driven away in under 20 seconds it’s not surprising insurance costs are rocketing.

www.theguardian.com

Gone in 20 seconds: how ‘smart keys’ have fuelled a new wave of car crime

One London resident watched on CCTV as a thief walked up to his £40,000 car and drove away. Now manufacturers say they are being drawn in to a hi-tech ‘arms race’ with criminals
www.theguardian.com www.theguardian.com

Ridiculous the industry let stuff like this happen after a few years of really tightening up on car thefts.
Click to expand...

That’s why I started a thread the other day on Discloks not foolproof but certainly a deterrent
 
Had a house fire almost six weeks ago now, tumble dryer went up, and am currently going through Claims process , we're with Nationwide with the policy written by RSA ,

so far so good , have forked out 9k in accommodation costs and am living in holiday cottages round Ambleside.

Currently in Outgate by Hawkshead then moving up to Chapel stile 2nd week march till Easter.we now need to book some more somewhere.

Have rejected their offer to repair and have quotes from local tradesmen, their loss Adjustor will open this on wed morn when he returns from a break and probably self combust.

However I'm sure this is the first stage in the negotiation process. If interested I will keep you updated
 
DoctorMick said:
There’s surprisingly little money to be made in consumer insurance, the motor insurance sector usually runs at a loss and I don’t think home insurance is much better. I think the competition has given way to avoiding losing money.
Click to expand...
Have been on to change my car on my car insurance today, currently pay £248 a year, renewal not due until end of October , had to pay an extra £189 to get me to next renewal, new premium from October £532, how can they justify an over 100% increase?
 
We received a letter from the insurance company saying house insurance was increasing £20 to £29. Phoned up said I wasn't happy and they said £22, which I accepted. They just try in on and if 1 in 3 just accept the increase their quids in.
 
viccarlton said:
Have been on to change my car on my car insurance today, currently pay £248 a year, renewal not due until end of October , had to pay an extra £189 to get me to next renewal, new premium from October £532, how can they justify an over 100% increase?
Click to expand...

What car have you changed from and to?
 
viccarlton said:
Have been on to change my car on my car insurance today, currently pay £248 a year, renewal not due until end of October , had to pay an extra £189 to get me to next renewal, new premium from October £532, how can they justify an over 100% increase?
Click to expand...
I’d imagine a large part of it is because they reacted too slowly to both inflation and the rise in used car prices so lost a load of money over the last 3 years and they’re now trying to claw it back.
 

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