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Post by Hofmeister on Nov 15, 2016 16:25:56 GMT
Had my renewal through from Aviva. A whopping £480 they want. So, I did a fresh quote from Aviva for all the same details (one slight change so they couldn't recognise my policy) and they want £308. My policy would auto renew if I did nothing, I could have cancelled on line, but wanted a little fun and something for the "all calls are recorded" listener.
Ring Ring
"About my policy, you want 480 quid to renew"
"yes sir"
"I can get the same policy from you as a new customer for 308 quid"
"We can match that sir"
"So you were prepared to to rip me off for 172 quid"
"Its not quite like that sir"
"Seems quite like that to me, I want to cancel"
Renewed with Liverpool Victoria, for 248 quid.
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Post by Humph on Nov 15, 2016 16:35:11 GMT
Same sort of thing when my wife was invited to renew the pet insurance this week. Renewal quote was 2 hundred and something. Same policy as a new customer £119. Bastards.
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Deleted
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Post by Deleted on Nov 15, 2016 16:51:10 GMT
It is as it should be.
A company should seek to maximise its revenue and so only give a discount where it is necessary.
A consumer should seek to obtain the best deal, and so make it necessary.
Where's the problem?
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Post by Humph on Nov 15, 2016 17:00:50 GMT
The problem is that most reasonable people prefer pricing transparency to being deliberately stitched up.
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Deleted
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Post by Deleted on Nov 15, 2016 17:03:39 GMT
It is transparent, really transparent; £x per annum for y cover. Can't get much more transparent than that.
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Post by Humph on Nov 15, 2016 17:05:13 GMT
You know exactly what I mean
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Post by Hofmeister on Nov 15, 2016 17:06:57 GMT
It is transparent, really transparent; £x per annum for y cover. Can't get much more transparent than that. But its not. Its £XXXXXXXX for Y cover Opps no its not, its £XXX for Y cover, if you dare to query it. Not at all transparent, very cloudy.
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Deleted
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Post by Deleted on Nov 15, 2016 17:20:03 GMT
I'm not being difficult, I disagree.
For a start those of us who take the trouble to query our renewal price get our insurance cheaper, subsidised by those who do not. So already the approach appeals to me.
And the Insurer is maximising its revenue. i.e. rather than giving everybody premiums 10% cheaper it gives the ones that ask their premium 15% cheaper and the ones that don't ask pay or it.
I don't pay the first price for anything, not even my tax bill. Do you? Really?
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Deleted
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Post by Deleted on Nov 15, 2016 17:55:40 GMT
LV= are as good as I could find in the UK for fully comp including Europe Volvo insurance. Mine was always about £300 which they'd try to add £30-50 each year and a phone call would reduce back.
UK car insurance is a bargain compared with Germany. Just got my renewal through, another years no claims and it's gone up by 110€ to 840€(that's with 11 years no claims discount). A quick search online reduces my excess from 500€ to 300€, I choose the repair workshop and it's now 660€ through DirectLine.
Still a bit steep I think for a sheet of A4 and an e-mailed pdf but that seems to be the going rate.
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Post by Hofmeister on Nov 15, 2016 18:05:48 GMT
I'm not being difficult, I disagree. For a start those of us who take the trouble to query our renewal price get our insurance cheaper, subsidised by those who do not. So already the approach appeals to me. And the Insurer is maximising its revenue. i.e. rather than giving everybody premiums 10% cheaper it gives the ones that ask their premium 15% cheaper and the ones that don't ask pay or it. I don't pay the first price for anything, not even my tax bill. Do you? Really? you dont haggle of the price of your tank of gas after you have filled up. But its not 10 or 15% Its 50, 75 100%! Querying or haggling to get a lower price is NOT transparent pricing. There exists, in fact, a price penalty. I'm not arguing that its not stupid to check pricing, especially as its so easy, but its a policy thatinfuriates customers.
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Deleted
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Post by Deleted on Nov 15, 2016 22:22:35 GMT
I'm not being difficult, I disagree. For a start those of us who take the trouble to query our renewal price get our insurance cheaper, subsidised by those who do not. So already the approach appeals to me. And the Insurer is maximising its revenue. i.e. rather than giving everybody premiums 10% cheaper it gives the ones that ask their premium 15% cheaper and the ones that don't ask pay or it. I don't pay the first price for anything, not even my tax bill. Do you? Really? I'm not convinced that a business model designed to rip off repeat customers is going to work long term. It may work for a few more years with the older generation who have always insured/banked/bought leccy & gas from company X but the internet savvy generation won't put up with that carp.
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WDB
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Post by WDB on Nov 15, 2016 22:38:14 GMT
It made me laugh a few years ago when Cameron (I think; it was during the coalition years anyway) said that it was unfair that only a few customers benefited from the best utility tariffs and the utility companies ought to make the best tariff available to everybody. How do you explain that the best tariffs only exist because other people go on blindly paying too much?
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Post by Deleted on Nov 15, 2016 23:53:05 GMT
>>I'm not convinced that a business model designed to rip off repeat customers is going to work long term.
About 30 years so far, so its not doing bad. Also, its not really ripping people off, is it. Anymore than airline, hotel, holiday fares. Its pricing the market. There are around 200 different fare arrangements on a single scheduled flight. You just need to be a smart buyer.
And well, its not really *the* business model, now is it. Its a pricing strategy.
100 Customers. Standard renewal £100
1) 10% discount for all.
90 renew, 10 leave.
Revenue £9000
2) 0% discount.
10 people unhappy and query premium. All offered 20% discount. 7 renew 3 leave anyway because they're pissed off.
Revenue £9560 (9 * 100, 7 * 80)
Arguably a company that did not manage their revenue in such a way could be guilty of malpractice.
As WDB said, the discount that some people get is funded by those who do not get a discount. So, *ALWAYS* seek a re-quote at renewal, don't shout about it or everybody will do it and your insurance will go up!
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Post by Deleted on Nov 16, 2016 0:02:15 GMT
Oh, and by the way, the level of NCD / NCB / call it what you will, protected bonus or any of the rest of that shite is irrelevant.
A few steps, assuming all else remains equal;
1) What is my insurance premium?
2) What is my insurance premium if I have one medium sized fault claim?
3) What is my insurance premium if I have +1 speeding?
4) Think of any changes you might make in the next year (add a young driver, replace the car, etc. etc)
5) Add extra "What if's for each of those.
6) Get it all in writing or with a quotation reference.
Choose.
I pay less than anybody else I know. I put less effort into research than anybody else I know. Frankly I hope the market stays EXACTLY as it is now.
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Post by Hofmeister on Nov 16, 2016 9:53:50 GMT
It is as it should be. A company should seek to maximise its revenue and so only give a discount where it is necessary. A consumer should seek to obtain the best deal, and so make it necessary. Where's the problem? I'm pretty sure that is not the way the *GITS price it or sell it down your way. *General Insurance Terms of Santiago
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