Insurance renewals

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box2box

box2box

Striker
An elderly relative has used a particular building society for a mortgage loan , insurance and house insurance for the last 40 or so years

The last house insurance renewal cone through recently at £500, a couple of phone calls to them later and they dropped it to £250. Unfortunately this is the first time the renewal has been queried so they have been taking the p&ss for years......

Is there any way for them to compensate / acknowledge they have not treated a loyal customer very well ?
 


I know this doesn’t help but I think there is a gap in the market for an insurance company that would offer to fix prices for a period of years, assuming your circumstances don’t change. Wouldn’t be the cheapest but would save the faff on every year and allow them to reward loyalty and turn a profit
 
Roaring Chubby said:
I know this doesn’t help but I think there is a gap in the market for an insurance company that would offer to fix prices for a period of years, assuming your circumstances don’t change. Wouldn’t be the cheapest but would save the faff on every year and allow them to reward loyalty and turn a profit
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You could call it Starks or Storks or something similar.
 
My house insurance renewal is cheaper than last year, to the point where it's not worth shopping around. With Aviva.
 
Renewals really piss me off mind; auto-renewal especially.

Just had to tell Admiral to stick £75 back into my account as they'd decided to carry on my policy without telling me. The piss take was that they wouldn't give me it until they checked their system to see if I has cover somewhere else during that time. Surely if their system can tell them that, they should have stopped taking payments! (or at least informed me that I had two policies out).
 
box2box said:
An elderly relative has used a particular building society for a mortgage loan , insurance and house insurance for the last 40 or so years

The last house insurance renewal cone through recently at £500, a couple of phone calls to them later and they dropped it to £250. Unfortunately this is the first time the renewal has been queried so they have been taking the p&ss for years......

Is there any way for them to compensate / acknowledge they have not treated a loyal customer very well ?
Click to expand...
will be the next ppi type scandal this shit, mark my words. it boils my piss.
 
Roaring Chubby said:
I know this doesn’t help but I think there is a gap in the market for an insurance company that would offer to fix prices for a period of years, assuming your circumstances don’t change. Wouldn’t be the cheapest but would save the faff on every year and allow them to reward loyalty and turn a profit
Click to expand...


Yes, similar to how the energy companies fix for 2,3,4 years etc. Would be quite popular I imagine
 
box2box said:
Yes, similar to how the energy companies fix for 2,3,4 years etc. Would be quite popular I imagine
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Would suit them shirley, instead of the shoot low and hope people are too lazy to shop around in a year model. Pisses me off having to shop around but you have to.
 
box2box said:
An elderly relative has used a particular building society for a mortgage loan , insurance and house insurance for the last 40 or so years

The last house insurance renewal cone through recently at £500, a couple of phone calls to them later and they dropped it to £250. Unfortunately this is the first time the renewal has been queried so they have been taking the p&ss for years......

Is there any way for them to compensate / acknowledge they have not treated a loyal customer very well ?
Click to expand...
It is crap but my understanding is they are just brokers and quoting a particular insurer so more not trying hard enough than ripping off .Just done my bike insurance and the fresh quote on a compare site was way cheaper than my renewal or their official website . The people who don't shop around and pay a bit over the top fund the cost cutting quotes .I'm not in insurance but get asked to cut quotes and I do ,then they say it should be that cheap all the time and I say I wouldn't be here, selling everything at that margin
 
Nothing that can be done unfortunately. It's the way general insurance companies work...attract new customers with the best price and hope they remain with them as they make their increased profit through renewals. However the FCA (Financial Conduct Authority) are currently looking at pricing practices across home and motor insurance.
FCA launches general insurance market study
 
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