insurance rip offs

[gman11]

Doesnt it annoy you that companies give 20 and 30% discounts to NEW customers only and you have just bought a policy of the same company 2 or 3 days early at a more expensive price.Well is there a way round this so that you can get the deal you deserve?I wonder if anyone knows the answer?

[buildersmate]

Yes, it is a sad fact that insurers work harder at trying to acquire a new customer (by giving discounts) than retaining old ones. They work on a level of customer inertia that relies on some people not bothering to question what the renewal premium is.
As a matter of course, I always undertake a short search for alternatives every year - it is regrettably the only way to 'test' the market price for your insurance circumstances. This very often results in me staying with the same company but at a reduced premium.
I recommend that you do the same.
The only way around it is at next year's renewal.

[gman11]

actually that isnt true there is another way if you cant think of it yourself let me know and thanks for replying

[buildersmate]

Maybe by invoking your statutory right to cancel within a short period of time (7 days?).

[gman11]

that is one way and you have up to 14 days to cancel but if you paid for the year and for instance were 3 months into your policy then as long as you have not made a claim you can cancel and claim a pro-rata refund on your policy.Some companies chargecancellatiochargeapprox�25 but if your going to save up say �100 is it still not worth it after all if you are loyal to a company should you not benefit from any offers they are giving out to other NEW customers.In my opinion it should be a level playing field for all

[redcrx]

how do you know that new customers are really getting a discount on the same rates you paid? The insurance company could easily have increased the prices just before offering the discount.

[gman11]

all you need to do is get a quote online or phone the company who are giving the offer and check what you paid for your renewal and if it is not say 20% cheaper then you know the offer is not real

[buildersmate]

Ah! so you knew the answer all along and it was a test.
I think that's pretty much what I said initially?
You could demand 20% off but you won't necessarily get it - in fact in my experience you've got to be more subtle than demand it - for example, explore round the edges of the Excess Clauses to try and get a cheaper deal.
Also some companies (if you are a customer) won't let you enter your details to get an online quote - they refer you back to Customer Services. In which case enter a name variation of get the 'new' customer comparison.

[gman11]

we are on the same wavelength buildersmate but the point im making to everyone is they need to do something about it after all we are the consumers and its our money so for anyone out there who wants to save money then give me a shout im happy to advise