Scottish Elises

At last insurance sales, especially auto-renew, is being looked into. However, am I just being cynical to think that it will end up simply making insurance that little more expensive across the board while insurance companies try to claw back the huge auto-renew policy income while making a token gesture to lessen the huge increases in premiums offered to "loyal customers"?
http://m.bbc.co.uk/news/uk-23209067

Interesting timing.
I just got my auto-renewal through for my Mini which is with Elephant. Premium was down to £120 from £145. I was surprised at the fact it had gone down and that it was so low. Not sure if shopping around can bring it down much further but at that price I will show a bit of loyalty and just let it run.

My AA auto renew dropped from £470 to £410 for the Europa but as the excess jumped to £650 I checked with the Meerkats and had a surprise £210 quote with an unknown company with a high excess so ended up with Admiral, £290 with legal included and a £250xs.

I think they'll continue to do what they like.

Erica just changed from a 2001 Vx220 2.2 to 2003 Mitsubishi Carisma 1.6 - so a high risk fibreglass sportscar with a value of £8k and 0-60 of 6.5 to a 5 seat shopping trolley with a value of £1k and a 0-60 of 13 years.

The cost for such a swap - £45.

The reason for the cost increase (so she was told by the call centre woman) - The car is newer

Made the change anyway as it worked out more or less the same as refunding and taking another policy out as it seems that the Carisma costs more to insure across the board

Chris

Random number generators.

Mrs Donkey lowers the cost of the VX but increases the cost of the CTR policy. Our VX is now £36 more expensive than our 1.2 panda to insure.

In the main , the insurance companies are the new "Bankers" and deserve the current bad press they are receiving over "auto - renew".
Bring back the days of the Norwich Union Drivers/Riders policy where you paid an annual insurance fee and could drive anything you wished
Details of vehicles owned only had to be provided at the beginning of the policy year.
NFU still offer this type of policy albeit at a price considerably higher than the norm.
I know one person back in the Seventies, who upgraded from a Mini Cooper S to a Ferrari 308GTB without policy increase...........

This month, I wasted the usual inordinate amount of time cancelling auto - renews on three vehicles /studying insurance comparisons sites/beating up existing insurers etc

Porsche £174 - SAGA.............Phoned them up /equalled my best competitor quote/gave me free European Recovery
BMW X6 £300 - Hastings Direct (Premium policy which includes absolutely everything recovery/legal/uninsured driver/contents and business mileage)
Jeep £150 - Hastings Direct..........Now Departed
Mini First - A mind blowing £1900 with Sabre to start Holly on her first Motor Insurance Policy

The Insurers could shave a load of their COS (cost of sale)

Close the third world call centres in Liverpool/Cardiff/Mumbai

Stop paying referral costs to intermediaries/comparison sites

.............Just by offering a competitive renewal quote therefore retaining existing margins

Or just specialise in insuring responsible over 70's drivers with no claims and no points.

tut

tut wrote:Or just specialise in insuring responsible over 70's drivers with no claims and no points.

tut

tut wrote:Or just specialise in insuring responsible over 70's drivers with no claims and no points.

tut

You only have no claims as your car is held together with Gaffa tape and love....

Don't get me started on insurance companies.......better start another thread!!

Just got my passat renewal in... £400, that's up on last year but when I go for a fresh quote on-line it's £325?? WTF Best so far is £285 but I have some calls to make to see if I can reduce that further.. Insurance shopping is a ballache

Alfa renewal was 290, 18 minutes on the phone later, it's just under 230.

With Admiral and all by 'matching' their sister company Elephant, which has happened 2 years running now.

Sorting out renewals so they are realistic would mean less call centre staff required, so a saving there for the insurance company.
Realistically, when the companies all inflate their prices to keep up with the loss, due to lazy people who are willing to spend the 60 quid extra (see above), so I suspect that my renewal would come in at say 270, but all the other companies would be similar.

Net result - renewals are cheaper, but insurance costs more across the board + insurance companies can reduce staff due to less renewal calls = many more profits

Eternally the cynic?

Chris