I had a similar experience with my car insurance this year.
Well actually its only half a car really .. a citroen C1 which I bought a couple of years ago when I decided that I was maybe getting too old to rely on bikes alone for my transport.
Anyway, approx £250 per year (with Churchill) for the first two years. I think actually it dropped slightly for the second year, as you might expect with a year's no-claim bonus.
I expected a further drop this year but was offered a price above £300.
I too checked with other companies and got much lower quotes so I rang Churchill and they stuck to their guns initially but caved in after a little more persistence and offered a quote of around £260.
Still an increase which I objected to on principle but I went with it in the end for the sake of an easy life.
Quote:
Originally Posted by SteveG
It’s easier IMO and preference to stay with them for admin purposes - but I’m sure I read somewhere the authorities had outlawed the dodgy practice of insurance companies hiking premiums as a “reward” for loyalty and renewals. ..
|
If I remember correctly the law was changed to outlaw the practice of giving discounted premiums to new customers, rather than outlawing the hiking of premiums for existing customers.
So the companies have retained their carrot to get new customers by offering them a RELATIVELY lower premium as a result of hiking the costs to their existing customers.
So this demonstrates their disregard for both their existing customers and also for the spirit of the law.
They care not one jot about loyalty .. only profits.