Insurance renewals

[yambabe]

Just curiosity really.

I've just done our 3rd renewal of the year so far (my bikes, my car, his car - got his bikes still to go) and am most surprised to find that in all 3 cases the renewal quote from the existing insurer has been better than any comparison site or ringing around has been able to produce.

Usually the renewal price is silly, I go and look for other quotes and find a better one, go back to the original insurer and either they match it or we go with the better quote. This year every single time I have been unable to beat the renewal quote, in the case of my bikes despite the addition of a clearly shown broker fee on top of the premium the best I found was over £80 more!

So I'm wondering, have insurance companies finally realised that people have got wise to them bumping renewals and, with the advent of comparison websites et al which make it easier for the customer to shop around, decided to make a positive effort to retain repeat business? Or have I just been lucky?

Those of you renewing an existing policy (car or bike) - has your renewal been silly money or actually pretty reasonable when you've looked around?
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Sod falling in love, I wanna fall in chocolate.

[angryjonny]

I've done car and bike this year.

I let the car renew because the meerkats couldn't beat it.

However my bike renewal (from someone who rhymes with Bennetts) was 3 times the meerkats' cheapest offer and more than twice the one I ended up taking.

[map]

[MarJay]

No its because Price Comparison sites are a con. They identify you by your name and DoB to those insurance companies who they front for, meaning that the companies give you a higher premium with an independent quote.

Don't use comparison sites because they ruin the quotes you get from normal insurance sites...
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British beauty: Triumph Street Triple R; Loony stroker: KR1S; Track fun: GSXR750 L1; Commuter Missile: GSX-S1000F; Cheap project: CBR900RR FireBlade
Remember kids, bikes aren't like lego. You can't easily take a part from one bike and then fit it to another.

[iooi]

[Tenko]

https://www.bikechatforums.com/viewtopic.php?p=3230025&highlight=#3230025

[J.M.]

[MarJay]

[Aff]

Mine have been even worse than normal this year:

Car:
Previous - £500
Offered Renewal - £850
Price taken (from same company) - £436

Bike:
Previous - £230
Offered Renewal - £370
Price Taken (from same company again) - £124!!

Surely they must loose more money from people refusing to go with them again because they're annoyed by the unjustified price increase, than the money they make from people who accept the renewal price because they are too lazy to look for another one.

(I know i'm a hypocrite but i like saving money )
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Current Bikes:Honda 929RR Fireblade, Honda CD200 Benly (Project), Stomp Z2 140
Electric Bike Project

[J.M.]

[Turkish]

Me and my wife both have car insurance with Tesco. Both renewals were cheaper than I could find elsewhere, not by much though.

I also had house insurance with AXA (buildings and contents w/ accidental damage cover for both), their quotes were

Year 1 - £23 / month
Year 2 - £28 / month (I stayed with them because I left it to the last minute and everywhere else was pricey)
Year 3 - £33 / month

I rang them up and explained that Swinton had quoted me £20 a month. I really couldn't be arsed to ring up the mortgage company to change the insurance details, so I gave them a good chance to come down on the price. They wouldn't budge at all, not even a few quid, so I didn't renew it.

I got the Swinton cover and lo' and behold, who was the underwriter? AXA. Bloody joke. The woman at the mortgage company laughed when I explained the situation.