I have just had an motor insurance renewal letter from the AA. My wife and I have a car each, both insured via the AA. Total cost for next year is £900.86, this includes five year's no-claims on one policy. They then offer, in the same letter alternatives of 737.21, this includes £75 to protect my no-claims bonus. But with excesses of £300 on one and £275 on another.
I went to Egg who also do motor insurance. Their price, for the same cover, is £513.55, for both cars and a promise to keep the rate the same for next year. This is with excesses of £100.
I think the AA tv advertisement is a load of old toffee.
It does make sense to shop around.
Bye for now
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It *always* makes sense to shop around. just bear in mind that the cheapest company for one person is not neccessarily the cheapest for another.
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Also after shopping around, expect junk mail from each insurer you try for the next 3 or 4 years :o(
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Yes, as Mark rightly says, it does always pay to shop around.
I myself found Liverpool Victoria particularly competitive, they also trade as Frizzell, but LV are less known in the motor insurance world and would appear to be even more competitive than F. It's well worth giving them a try.
These days it's usually so easy to obtain an on-line quotation there really isn't any excuse for not shopping around.
Just one tip, though. Always make sure that you are comparing like with like. When I myself were shopping around I found that some companies delighted in offering me a lower premium, but, when questioned further, I found that the excess quoted was about £300 as a consequence on this lower premium.
So, my advice, definitely shop around, but be careful!
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Another warning about on-line quotes;
they often offer temptingly lower quotes, but make assumptions that are unrealistic but have the effect of lowering the apparent premium. It is then up to you to notice these.
eg, they assume a lower than average annual mileage, or that the car is kept in a locked garage, or that on journeys to and from work you never carry any work with you, or that the car is not parked on the road at work, or that the car has an imobiliser, etc etc.
I have found several times that on working through the small print correcting these, the premium climbs back up again.
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I have used Frizzell and LV for many years and get a discount for being a member of CSMA. Earlier this month my renewal came through at the same pemium as last year and nobody else got within £40 of what I was quoted, some were £100 more. This is on a premium of only £180 by the way! In that time I have 2 windscreens and a total loss in a flood and the service has always been excellent. Try them if you can - no connection other than as a satisfied customer.
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Indeed, it's always advisable to shop around at renewal. I'm pretty sure that many companies offer a good deal to get you hooked, then rely on general apathy to 'load' the premium at renewal.
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How about this. Insured via Eagle Star. Renewal letter £120 more than existing. Note on letter 'Please ring us before going elsewhere'. So I did. Can't reduce your premium I'm afraid....bye..
Go on-line. Enter details etc etc and price quoted is £130 less and beats my other lowest on-line quotes. Eh????
Don't follow their lead and renew. Set up a new policy.
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Yes, in my experience a lot of companies offer a good deal in your first year, and then hike the price right up in subsequent years - of course, due to the fact that many people don't bother shopping around. Loyalty to their customers is non-existent - although I do recall a post on another thread that suggested if you remain loyal to a particular company for years you will eventually reap your just rewards. Not sure about this, just try always to find the best deal at the time.
HF
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(or also as London Victoria). I had a slight accident where I was completely at fault. It was so minor I was not claiming on my policy but the third party was. I rang the accident line, they took the accident details over the phone in a very sympathetic way. Most impressive, no paper trail. They will be writing to the third party directly offering to use a Frizzell repairer. As a protected NCB I will not, in theory, pay a penny.
I had previously offered to deal with minor damage to old van by cash but he showed me a huge repair quote. He must have thought Christmas had come and I doubt any of the cash would have been used for repair. By being greedy he lost everything as Frizzells will pay for work actually needed.
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