Insurance renewal

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Thu 7 Apr 2022 16:01
Insurance renewal - Doc

My car insurance renewal this year has increased by 66% ! I shall be going to a different company.

Has this any connection:

FCA confirms measures to protect customers from the loyalty penalty in home and motor insurance markets

The FCA has implemented a package of remedies to improve competition and protect home and motor insurance customers from loyalty penalties. This includes new rules so that renewal quotes for home and motor insurance consumers are not more expensive than they would be for new customers.

Edited by Doc on 07/04/2022 at 16:02

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Thu 7 Apr 2022 16:50
Insurance renewal - Crickleymal

My renewal quote has been lower than the previous years for about 2 or 3 years now. Despite having had a bump in a car park.

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Thu 7 Apr 2022 19:56
Insurance renewal - Steveieb

Mine has increased this year as well as the charge for NCB but I won’t be changing from LV since Which magazine awarded them the best company for car insurance.

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Thu 7 Apr 2022 20:02
Insurance renewal - Xileno

I was with LV for both house and car for some years, then they seemed to edge their prices up a bit so I moved. This year I'm back with LV again for thew house as they were the best price again. I hate this annual shop-around, such a waste of time but necessary I feel.

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Thu 7 Apr 2022 20:12
Insurance renewal - RT

Periodically insurers change their target market, this can result in lower premiums for customers within that sector and increased premiums outside the sector - LV would never quote for my high group car but changed last year and I've now got both cars insured with them - I'll find out this autumn how keen they are to retain my business!

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Thu 7 Apr 2022 22:48
Insurance renewal - John Boy

I was with LV= for about 9 years, same car, no claims. Last year, however, my premium went up a lot, so I changed to Direct Line for much less. This year my Direct Line premium has gone down a few pounds. I don't recall that ever happening before. I got a quote from LV=, but they're still not competitive for me.

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Fri 8 Apr 2022 09:23
Insurance renewal - Andrew-T

SWMBO has been with LV= for several years, and the renewal premium usually creeps up a bit. If she thinks the increase seems a bit too much she usually talks it down again over the phone. I think she rather enjoys it.

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