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| Mungel |
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 Mungel Scooby Slapper

Joined: 21 Apr 2005 Karma :     
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 Posted: 19:17 - 14 May 2012 Post subject: Insurance Renewal Time - Get out the Lube |
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[rant]
Why oh why do these bloody insurance companies think that I will just accept a 100% increase in my premium year on year?
Last year, 6 years no claims, bike valued at £2000 = £98
This year, 7 years no claims, bike valued at £1500 = £204
No new convictions, no change of address, no claims, a year older and wiser... it just doesn't make sense..
Obviously, the obligatory haggling phone call will occur, but I can see me switching to another new policy.
Whatever happened to looking after your customers and encouraging renewals. Surely that makes good business sense, no?
[/rant] ____________________ Mungel
ZZR600 (dead) - ZX9R (sold) - FZ1S |
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| arry |
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 arry Super Spammer
Joined: 03 Jan 2009 Karma :    
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 Posted: 19:24 - 14 May 2012 Post subject: Re: Insurance Renewal Time - Get out the Lube |
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| Mungel wrote: |
No new convictions, no change of address, no claims, a year older and wiser... it just doesn't make sense..
Whatever happened to looking after your customers and encouraging renewals. Surely that makes good business sense, no?
[/rant] |
Unfortunately there's no 'sense' in it any more as there's no underwriting, just pricing. The pricing model changes month on month, and if it so happens that 39 year olds on Ducati Monsters have had a sharp upturn in claims that month then everyone getting their renewal the month after in that category will feel that burn or move elsewhere. The market price doesn't always = the right technical price, and vice versa. That is to say, just because someone accepted you last year at £100 doesn't mean they priced it right then, nor does it mean £200 is what the market will want for you this year if you go somewhere that's not had a bad experience with your risk category.
On my old CBR - mine went from £108 to £228 but shopping around I got to £122 fairly quickly. There is a general shift in market upwards at the moment, as bike rates didn't have the pressured hit that car rates did over the course of the last few years.
If you're with an intermediary then call them and ask them to re-broke your risk to their panel and see what they can come back with - always good to give them a chance to retain you if the service has been good. If you're direct, then shop about and see what happens.
Don't forget price is only part of the equation though. There are plenty of other things to consider; like claims service, documentation service, administration fees etc. |
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| Rogerborg |
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 Rogerborg nimbA

Joined: 26 Oct 2010 Karma :    
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 Posted: 07:11 - 15 May 2012 Post subject: |
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It's a loyalty punishment. The thought of "renewing" insurance just fills me with mirth. New quotes every year, no exception. ____________________ Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike |
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| Marcg868 |
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 Marcg868 World Chat Champion
Joined: 20 Jan 2005 Karma :     
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| chris-red |
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 chris-red Have you considered a TDM?

Joined: 21 Sep 2005 Karma :   
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 Posted: 11:53 - 15 May 2012 Post subject: |
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I went with my renewal it went down by about £65  ____________________ Well, you know what they say. If you want to save the world, you have to push a few old ladies down the stairs.
Skudd:- Perhaps she just thinks you are a window licker and is being nice just in case she becomes another Jill Dando.
WANTED:- Fujinon (Fuji) M42 (Screw on) lenses, let me know if you have anything. |
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| Redoko |
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 Redoko World Chat Champion

Joined: 04 Nov 2009 Karma :    
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| cb1rocket |
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 cb1rocket World Chat Champion
Joined: 30 Jan 2010 Karma :    
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 Posted: 12:25 - 15 May 2012 Post subject: |
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My renewal 57 quid  |
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| Alpha-9 |
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 Alpha-9 Super Spammer

Joined: 19 Jan 2012 Karma :  
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| EazyDuz |
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 EazyDuz World Chat Champion

Joined: 11 Apr 2011 Karma :  
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| Darylw27 |
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 Darylw27 Nova Slayer
Joined: 19 May 2011 Karma :    
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| MG |
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 MG Traffic Copper
Joined: 10 Oct 2011 Karma :     
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| cb1rocket |
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 cb1rocket World Chat Champion
Joined: 30 Jan 2010 Karma :    
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Old Thread Alert!
The last post was made 13 years, 258 days ago. Instead of replying here, would creating a new thread be more useful? |
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