Why don't insurance companies reward loyalty?
My car insurance renewal came through last week. I checked on a price comparison website, and found exactly the same policy with the same company, but £53 cheaper. So I cancel the existing policy and take out a new one every year. Loyalty is not a word that insurance companies recognise, so treat them the same way.
Asked on 27 July 2013 by CH, Alton
Answered by
Honest John
It's not so much the insurers as the brokers. Most price comparison sites and branded 'insurers' are in fact brokers, and it's their commission on top of the underwriter's premium that is the reason for the huge variation in costs. Long gone are the days of 10 per cent insurance broker's commission. Now it can be anything from 10 per cent to 200 per cent. So don’t just use one price comparison site. Compare its prices with others.
We give you the low down on how to save on insurance, little-known tricks and tips, what insurance groups mean and how to use insurance aggregators to beat insurers.
Insurance group finder and how to save on insuranceSimilar questions
When researching GAP insurance I came across www.ALA.co.uk on your website. I got a quote from the link and it turned out far cheaper than Land Rover, with what appeared to be similar T&Cs. I have been...
I am a retired 73 year old and do around 4000 miles a year maximum. I have protected NCD. When I renew my motor insurance I tell them that I don't need a hire car should mine be off the road (I can use...
Following my recent experience with my insurance renewal, I thought I would share my findings. Having compared some 23 insurers and telephoned six independently, I found some infuriating responses.
I...
_COLON_no_upscale()/cdn.uk.prod.group-mobility-trader.com/images/fallback/coming-soon.jpg)
.jpg)
