Please visit the Club's website https://www.dloc.org.uk/ to join. Visit https://www.dloc.org.uk/adhoc to DONATE towards the cost of the forum.
Please don't post someone's email address to avoid it being harvested by spambots and it's against GDPR regulations.
Always look at "ACTIVE TOPICS" to see all posts in date & time order as they are sometimes moved; or look at "Your Posts".
Please add Reg. nrs. when posting a photo or anything about a car as this will help searches. Don't add punctuation next to nr. as this negates search.
CHANGED YOUR EMAIL ADDRESS since registering?, click your username and check your address in User Control Panel, Profile, Account Settings.
If you want help to register, use "contact us" at page bottom for help.

Tired of insurance premiums going up every year?

Technical issues not related to a DLOC car marque, eg tyres, ethanol, other car makes, etc. and legal, political and insurance
Phillmore
Wise Man
Wise Man
Posts: 847
Joined: Sat Feb 13, 2016 1:25 pm
Location: Worcestershire Herefordshire border

Tired of insurance premiums going up every year?

Post by Phillmore »

I took out my Conquest insurance three years ago with a well known classic insurance company. I paid £90 the first year which went up to £105 the second year and this year I was quoted £146 to renew! This is what's known in the industry as rewarding loyalty apparently. So this is what I did . . . . . . .

Let the old policy lapse, went on line and got a new quote from same company for same car with all the same details, got a quote for £86, paid with card and reflected in my smugness at achieving a saving of £60 :D .

Give it a try the next time your insurance company tries to reward you for your loyalty.
Andy

1954 Conquest Mk1, 1956 Conquest Mk2, 1957 Conquest Century Mk2, 1955 Austin A90 Westminster

A.N.Other
Wide Man
Wide Man
Posts: 551
Joined: Tue Feb 16, 2016 12:45 pm
Location: Leeds

Re: Tired of insurance premiums going up every year?

Post by A.N.Other »

I changed insurance supplier because I got a cheaper quote.
The insult added to injury was that the original company said that they could beat my new company. I informed them that on principle I would go with the new company because of there lack of loyalty.
Colin,
I may be slow but I’m rough as well !

Phillmore
Wise Man
Wise Man
Posts: 847
Joined: Sat Feb 13, 2016 1:25 pm
Location: Worcestershire Herefordshire border

Re: Tired of insurance premiums going up every year?

Post by Phillmore »

The trouble is Colin your new company will do the same to you next year!
Andy

1954 Conquest Mk1, 1956 Conquest Mk2, 1957 Conquest Century Mk2, 1955 Austin A90 Westminster

A.N.Other
Wide Man
Wide Man
Posts: 551
Joined: Tue Feb 16, 2016 12:45 pm
Location: Leeds

Re: Tired of insurance premiums going up every year?

Post by A.N.Other »

Your right Andy but I don't know if it is best to swap. I don't like the idea of letting the insurance lapse
Colin,
I may be slow but I’m rough as well !

Vortex O'Plinth
Extra-Wise Man
Extra-Wise Man
Posts: 1065
Joined: Fri Feb 12, 2016 8:15 pm
Location: Gloucestershire

Re: Tired of insurance premiums going up every year?

Post by Vortex O'Plinth »

Big Col wrote: Thu Aug 17, 2017 1:47 pm The insult added to injury was that the original company said that they could beat my new company. I informed them that on principle I would go with the new company because of there lack of loyalty.
Like you Colin, I get annoyed when after receiving a renewal quote that's considerably higher than last years - usually starting with "We've searched to find you the best price for next year's insurance...." - , you query it saying you've got a lower quote and they then say "Let me see if we can do something better for you...". So much for customer loyalty... :x

I've four cars insured for road use at the moment, all with different insurance providers. At renewal time I simply go to a comparison website (usually Compare the Market, because if I reinsure through them I get a free cuddly Meerkat toy I can sell on eBay for £20, effectively reducing my premium further) and choose the cheapest for the cover I need. Often the reinsurance is with the company already insuring the car, even if I don't allow the insurance to lapse as Andrew has done. It appears their websites are not smart enough to detect that you are already a customer before offering you the 'new customer' rate.

People ask me how do I know if the new provider will offer 'decent service'? Well of course I don't. The only way you know what service any insurer provides is if you claim, and since I haven't claimed in the last twenty years I've no idea if any of my insurers in that time would have provided good service.

Most of the Insurance Companies are now owned by venture capitalists with no interest in service. They simply want to see as large a return as possible on their investment, which is why they cynically boost your premium each year on the assumption that most of us are too resigned to rising costs to query it.
Nick

"Don't bother with the Air & Space Museum - there's nothing to see.......".

Phillmore
Wise Man
Wise Man
Posts: 847
Joined: Sat Feb 13, 2016 1:25 pm
Location: Worcestershire Herefordshire border

Re: Tired of insurance premiums going up every year?

Post by Phillmore »

You only need to let it lapse for a day like I did if you go down my route. As Nick says they seem blissfully ignorant of our identity as the computer just issues another policy number. We are but just a number ;)
Andy

1954 Conquest Mk1, 1956 Conquest Mk2, 1957 Conquest Century Mk2, 1955 Austin A90 Westminster

Stan Thomas
Wise Man
Wise Man
Posts: 795
Joined: Sat Feb 13, 2016 2:14 pm
Location: Penkridge. Staffs.

Re: Tired of insurance premiums going up every year?

Post by Stan Thomas »

George Orwell was out by thirty years.

Phillmore
Wise Man
Wise Man
Posts: 847
Joined: Sat Feb 13, 2016 1:25 pm
Location: Worcestershire Herefordshire border

Re: Tired of insurance premiums going up every year?

Post by Phillmore »

True. The only reason I let it lapse was that I thought if I hadn't, the computer would have matched my details to the current policy and possibly either not allowed me to continue or given me the higher quote again?
Andy

1954 Conquest Mk1, 1956 Conquest Mk2, 1957 Conquest Century Mk2, 1955 Austin A90 Westminster

Stan Thomas
Wise Man
Wise Man
Posts: 795
Joined: Sat Feb 13, 2016 2:14 pm
Location: Penkridge. Staffs.

Re: Tired of insurance premiums going up every year?

Post by Stan Thomas »

I've just realised why the motor insurance industry is so incomprehensible - it does not emply fully competent people!!

That is why whenever you 'phone for a quote, the message is played that calls are recorded for "]training" purposes.

Anyone ever got through to a fully trained person yet?

Phillmore
Wise Man
Wise Man
Posts: 847
Joined: Sat Feb 13, 2016 1:25 pm
Location: Worcestershire Herefordshire border

Re: Tired of insurance premiums going up every year?

Post by Phillmore »

One of the advantages of the internet is that we don't have to speak to people any more, we converse with computer algorithms by ticking a series of boxes. It seems to work though :) !
Andy

1954 Conquest Mk1, 1956 Conquest Mk2, 1957 Conquest Century Mk2, 1955 Austin A90 Westminster

Post Reply