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Non fault and premium hikes.

Discussion in 'Insurance' started by 00slk, Aug 2, 2018.

  1. L John

    L John Senior Member

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    Your Mercedes:
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    On another note....

    When do you renew your insurance policy?
    I've had quotes in the past but left it till it's due to expire before getting new quotes and renewing, "Oh the quote is not higher sir" is the usual line.

    Well guess what, it's not just an unlucky rise!
    Insurers base the price on risk assessments. They found people that leave it to the last few days to renew are statistically more likely to make a claim as they are "risk takers".
    The best time too look for a renewal and act on it, is 21 days before yours is due to run out.
    After that time to price is highly likely to increase.
     
    Jim2 likes this.
  2. davemercedes

    davemercedes Senior Member

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    Huh! And I detest the whole thing almost as much as the annual tax return, with the ducking and diving to get a reasonable quote... so much that I'd leave it until midnight on the last day if I could!

    But the most stupid thing is if you ask for the renewal price early (as I did a few years back because we were going to Australia for 6 weeks) they tell you they can't quote yet ("Computer says no..."). That turned out to be a good year though - in a fit of pique I got a couple of quotes by phone from other companies (no problem at all when I told them why I wanted to arrange the cover in advance) and when I checked later I'd saved about £100!
     
  3. Lord Bungle

    Lord Bungle Active Member

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    I am not sure that is a perverted view of insurers, that or I know an awful lot of perverts.
     
  4. Lord Bungle

    Lord Bungle Active Member

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    The insurance on my ex London Taxi jumped from £450 to £1600 last year, when I questioned it I was told "It's because you might use it as a Taxi." After I questioned the marital status of the insurers parents, I rang back, found out the 'clerk' had forgotten to include my no claims bonus in the original quote, but as it was now due the following day the best quote they could do as it was short notice came in at £750.
    the C class is coming in at £280 fully comp :/
     
    Jim2 likes this.
  5. L John

    L John Senior Member

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    Oops, fixed typo ^
     
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