21-01-2012, 07:35 PM
11
Re: Bloody Insurance Companies
I always shop around whenever something comes up for renewal. We are actually paying less now than we did 5 years ago for house and contents cover with NatWest, as every year the renewal shows an increase, so every year I ring to cancel and they immediately offer me a better price than the previous year. At this rate in ten years time they will be paying me...
22-01-2012, 02:41 AM
12
Re: Bloody Insurance Companies
It is sadly true that, because of the claims by others, everybody else has to suffer.In my 40 years of driving I've never once had, or been involved in, an accident, but that makes no difference.
I'm insured with the RAC and, because I pay monthly, I guess I've been pretty blase about how much my payments are.
My house and contents are now covered by my bank, but previously were covered by the building society from whom I got my mortgage, at £40+ per month. My bank gave me pretty much the same deal as the building society for just over half that amount.
My car insurance is due in March, so I'll check on costs to see if I can get a better deal this year.
22-01-2012, 02:31 PM
14
Re: Bloody Insurance Companies
Originally Posted by marpaul
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Mollie you might want to shop around for your house/contents insurance as well when they are due for renewal if you are currently paying £40 a month!! Obviously I don't know how much you are insured for etc. but I pay a lot lot less than that 
25-01-2012, 12:06 PM
15
Re: Bloody Insurance Companies
My car insurance renewal was over £100 more than last year. I was given the same reason as Cookiecate, ie that lots of people had made personal injury claims. My reaction was the same, that I hadn't so why should I pay for them?I therefore decided to change insurers and needed information from my old insurers regarding a small claim I'd made two years ago, when my car had been vandalised, resulting in the reduction of no claim discount from 9 years to 3 years (even though I had been told at the time I would lose 2 years - apparently "The Insurance industry work on a 5 year maximum and so disregard the other 4 years"). As I needed to tell my new insurers how much this claim had been for, I rang my old insurers to ask. Imagine my shock to be told that the claim total was £132, and I had paid £100 of that as my excess. I had therefore lost 6 years no claim discount for the princely sum of £32!!
I guess the moral to this tale is not to trust the insurance companies one inch. I should have asked at the time how much it was going to be in total so that I could have made an informed decision and paid the £32 myself. I won't be so stupid another time (if there is one).
25-01-2012, 12:09 PM
16
Re: Bloody Insurance Companies
Originally Posted by SandraB
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My car insurance renewal was over £100 more than last year. I was given the same reason as Cookiecate, ie that lots of people had made personal injury claims. My reaction was the same, that I hadn't so why should I pay for them?I therefore decided to change insurers and needed information from my old insurers regarding a small claim I'd made two years ago, when my car had been vandalised, resulting in the reduction of no claim discount from 9 years to 3 years (even though I had been told at the time I would lose 2 years - apparently "The Insurance industry work on a 5 year maximum and so disregard the other 4 years"). As I needed to tell my new insurers how much this claim had been for, I rang my old insurers to ask. Imagine my shock to be told that the claim total was £132, and I had paid £100 of that as my excess. I had therefore lost 6 years no claim discount for the princely sum of £32!!
I guess the moral to this tale is not to trust the insurance companies one inch. I should have asked at the time how much it was going to be in total so that I could have made an informed decision and paid the £32 myself. I won't be so stupid another time (if there is one).
I always pay a few £ extra for no claims discount protection, I think it is well worth it and allows you to make a number of claims within a time period without you NCD being affected .
25-01-2012, 12:12 PM
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Re: Bloody Insurance Companies
It wasn't so much the loss of NCD that annoyed me, but the dishonesty of the insurance companies. Had they been up front, and told me the NCD would drop by 6 years (not 2, as they said), and that the total cost of the repair was only £32 over the excess I had to pay, then I would have been able to make a proper informed decision as to whether to claim or not. Unfortunately they didn't and were surprised when I felt that they had conned me.25-01-2012, 01:06 PM
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Re: Bloody Insurance Companies
Originally Posted by SandraB
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It wasn't so much the loss of NCD that annoyed me, but the dishonesty of the insurance companies. Had they been up front, and told me the NCD would drop by 6 years (not 2, as they said), and that the total cost of the repair was only £32 over the excess I had to pay, then I would have been able to make a proper informed decision as to whether to claim or not. Unfortunately they didn't and were surprised when I felt that they had conned me.
Sandra, we believe it is one law for them and one law for us.
25-01-2012, 05:26 PM
19
Re: Bloody Insurance Companies
My buildings and contents insurance has just been renewed with Right Move insured by MMA and it has gone up by £1.50 a year so I am pleased with that. Shop around and use the aggregators - confused.com etc etc.I work for an insurance company in London and although we don't do personal lines insurance it does give me an insight into it all. Basically if there has been a high frequency of claims it does have an impact on everyone's renewal whether you have claimed or not. Motor insurance is a bit different as there is a ncb provision there. It is how the system works whether you like it or not.
All I can say is to shop around at every renewal and make sure you are getting the best deal. The aggregator sites make this very easy nowadays.
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