Morning all,
As you probably don't know, my insurance is up for renewal on the 19th. Being the fully prepared person that I am, I've been getting online quotes.
Now I'm not going to mention the company simply because it could be construed as me having a go at them - in fact - I may even do that by the end of this post but I need a bit of advice.
I'm currently with the company in question and have been for the last year. The 19th will see the start of my third year of driving and so, 2 years no claims. For the purposes of this quote, I'm forgetting the 3 points I will undoubtedly be getting in the next week because I don't want to complicate matters.
Anyway - the online quote I received from the company was for the princely sum of £712 TPFT. Whilst that probably sounds bad to you, no-one else can come close so I saved my quote in case they did anything rash like raise the premium and relaxed sipping a cognac thinking how I'd got one over on them.
However - I got a renewal notice through today from the company quoting me 12 quid short of a grand. Obviously I'm pretty damned annoyed and it's not that much of an increase in the grand scheme of things but it's a bit more drinking money so out of principle, I've decided to try and not pay it ;-)
I know that websites give you 10% discounts here and 12.9% discounts there so that would accout for some of the increase but I don't see how, as a loyal customer for 1 whole year, I should be penalised (which effectively is what it is).
Can I;
a) Take out the quote online (I doubt this given I've been given a quote which probably overrides all online ones)
b) Let the insurance lapse for a day and so not being one of the company's take out the online policy the next day?
I realise I'm coming across as a stingy student moaning at how the world's doing him an injustice but having spent nearly 4 grand in 2 years on insurance, I'm not in any rush to fork out loads again. If I have to pay it though, I have to pay it.
Many thanks for any help you can offer,
Cheers,
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Adam
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so
Same company
Online they quote £712 for new customer
£988 they quote you for renewal.
You can
a/ Phone them up and point out the discrepency and say you are now offski and not adski if they dont match it.
b/ as you say. let it lapse (I think it needs to be 48 hours) and apply as a new customer quoting thier good selves as proof of NCB!
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RF - you've made my day.
By rights, you should be entitled to some of the savings!
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Adam
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Adam, have you tried Sainsbury's bank car insurance - they are over £200 cheaper than anyone else for me...
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Thanks for the advice Chris. Just checked Sainsburys now - £1052 TPFT. Whilst that's more expensive, it's the cheapest one apart from my current company I've found. So at least I've got someone else to fall back on if I cut my losses with the company.
Thanks again
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Adam
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This happens every year to me.
So I phone the company in question, and they just advise me to 're-buy' my policy from scratch via the WeB.....A minor hassle but nothing to worry about.
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Adam,
As you know, I haven't a clue about insurance, so avail yourself of a pinch of salt...
Does the renewal quote actually over-ride the online one? If you were to take up the online quote what would happen?
number_cruncher
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I've no idea if this is really true (I'm sure you'll tell us) apparently sometimes a fully comp quote can be cheaper than TPFT.
I trawled extensively for my daughter and Admiral were cheapest.
I've heard of the discrepancy in quotes you mention and the solution (as others have said) is to simply take out a new policy on-line.
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Presumably you've tried all the usual things to reduce the bill like adding a parent to the policy, different companies seem to treat that differently. It reduced my 21 year old's policy by just under £100 for me to be on it.
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Presumably you've tried all the usual things to reduce the bill like adding a parent to the policy, different companies seem to treat that differently. It reduced my 21 year old's policy by just under £100 for me to be on it.
I forgot about that - it worked for us too (with Admiral).
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I realise I'm coming across as a stingy student moaning at how the world's doing him an injustice but having spent nearly 4 grand in 2 years on insurance, I'm not in any rush to fork out loads again. If I have to pay it though, I have to pay it.
I'm afraid it's one of the penalties for being in the high-risk under-25 bracket. Like it or not, that's how the statistics rate you ~ high risk! ;-)
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L\'escargot by name, but not by nature.
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a) yes
b) if you wish, but it seems like a waste of time to me. Just do a).
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I was advised my my company that I could take out the new quote online rather than my renewal quote, the onyl difference being that as a 'new' customer, if I cancelled my policy mid-year I would get back only set (low) percentages rather than a pro-rata percentage of the insurance I hadn't used.
That is the only downside to being a perpetual 'new' customer.
If you are not intending to get rid of the car and cancel the insurance then you have no worries.
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forgot to mention - we too have had experience of the 'parent discount' -
adding me to the policy on the heap of scrap we bought for our kids to learn to drive in saved hundreds off the premium with Elephant.co.uk
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Can I just say thanks for the huge response. It's been most enlightening.
Tried Admiral and Elephant. Putting Mum on adds £100 ish to the quote which are both around the £1300 mark.
I'm going to go with the general consensus of buying online. What's the worst they can do?
.......he said.
Thanks again by the way. As always, very much appreciated.
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Adam
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With regards the above point about fully comp being cheaper than tpft and I would have to agree. I'm in the process for looking at quotes for renewal time just so I know how much money I'm going to have to save. On quotes from the big 3 companies (we all know who they are) tpft is only £3 less than fully comp so we all know what I'll be getting. Also, I've been really surprised to find that with 3 years ncb I'll be saving about £125 from last years price with 2 years and I'm looking at an amazing £365! Bearing in mind I'm only 21, have 3 years ncb with no points etc on a M reg Fiesta I'm really impressed.
Hope you manage to sort something out Adam... And hopefully it'll get cheaper for you one day too
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Thanks Jen - I should point out I've been getting fully comp quotes as well just to see.
The smallest gap I can find is £300 between the too.
I'm waiting for the day it becomes £3 like Jen's!
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Adam
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Clik over to www.moneysavingexpert.com & ask in there!!
Another friendly bunch of webaholics - just like us!!
VB
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Thanks Vansboy. For some reason, I missed your post originally.
I'm looking on that site now. Certainly very informative!
Thanks
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Adam
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Hi,
Try www.confused.com. I have no connection other than both my daughters have used and realised a reduction on their premium.
Richard Price
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Thanks Richard.
I tried them but they seemed to return quotes higher than when I'd actually visited the sites themselves.
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Adam
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I realise I'm coming across as a stingy student moaning at how the world's doing him an injustice but having spent nearly 4 grand in 2 years on insurance, I'm not in any rush to fork out loads again. If I have to pay it though, I have to pay it. Many thanks for any help you can offer, Cheers, -- Adam
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I have to say this is heady stuff compared to the days when I was a student. £4K in 2 years, just on car insurance. The mind boggles at how you meet these kind of costs, plus running it, when it is doing only 28 mpg (never mind the cost of buying it).
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What can I say machika? Knowing then what I know now, I would still have got this car. Nearly a year later and I still smile every time I take it out for a blast.
Still - the occasional bank robbery helps.
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Adam
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