Car Insurance.

The average comprehensive policy has risen by 40% i read in the press this week.So when i received my renewal quote i was not surprised to find the premium had risen from £303 to £425. This was with Lloyds TSB underwritten by Liverpool Victoria. I went to Go-compare, gave them my details and received 73 quotes, the cheapest being £279 by Liverpool Victoria the same company who underwrites Lloyds TSB. Is this an Industry scam? A press anouncement, then jack up prices all round regardless, in the hope that people will swallow it,without obtaining another quote.

Reply to
mick
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This is how insurance companies have always operated.

Insurance companies offer you a discount in the first year to get your business. After that they hope you don't bother to shop around. The quote you got online for LV is the "new customer" premium which is a lot cheaper than the "existing customer" premium as you have just found out.

Reply to
Mark

Indeed. I shop around every year and have noticed cheaper quotes from my current insurer than they quote for renewal. On at least one occassion I have taken out new cover with the same insurer and saved compared to just acceptiong the renewal quote.

Reply to
Blackthorn

Not just insurance companies.

We were paying Virgin Media the best part of £70 a month for a tv, broadband and phone package.

Then I saw an advertising campaign they were running which offered the exact same package (in terms of tv bundle and broadband speed) for £31 a month.....i.e, £38+ less than I was paying.

A phone call confirmed the price was only available to new customers signing up for a 12 month contract.

I told them to cancel my subscription after I was assured that I wouldn't be able to take advantage of the offer.

Ten minutes later I got a call from a "retentions supervisor" offering me the deal on condition I signed a new 12 month contract.

I guess 12 x £31 a month is better than 12 x £0 a month.

Reply to
Rasta Pickles

Indeed. However, when the AA put up my annual breakdown cover from £100 to £150 and then offered a ~£50 discount to new customers, they didn't think my £100 was better than nothing so they no longer have my business.

Reply to
Mark

In message , Mark writes

When I renewed last time, I pressed then button which meant "If you are thinking of leaving the AA", and then explained that I intended to do just that and take advantage of the half price deal my lady friend had just been given as a new member.

The nice man said that he thought he could offer me a discount of about £70 for my top of the range cover, which brought it down to £89. As I am 77, I think it worth while to have the facility in case I get marooned somewhere.

Reply to
Gordon H

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