To remind you to challenge your insurance renewal quotes!

[Allthecoloursoftherainbow]

My renewal quote was TWENTY percent higher than last year.

I shopped around and found a better quote with an added 20% discount through my work.

When I rang to cancel my automatic renewal with current insurer, they asked what the new quote was and miraculously managed to give me a new deal, £20 cheaper. So that's £230 cheaper than their first renewal quote and £120 cheaper than last year's premium with them!

I said I was surprised they managed to knock that much off and they gave me some spiel about me being a loyal customer (been with them a year) I think the reality is they expect you to roll over and take it, there are no rewards for being loyal until you threaten to leave!

Yep same with mine. Loyalty is not rewarded by insurance companies.

Funny I did the same - called up as found like for like insurance £94 cheaper and they didn’t budge! They wanted to charge me £105 more than last year. Nothing had changed other than I had an extra year no claims bonus. I had to switch. Unbelievable

I don't disagree, but mine came in considerably less this year so I was happy to stick with my company

I always shop around and this year my renewal was the cheapest (and it had gone up).

Same. My latest car insurance quote went from about £350 per year to over 1k 😂 shopped around and found a much, much cheaper quote. I called to see if they'd match it and have been with them a few years so thought it might be a mistake, the best they could do apparently was £900. As pp says there's no rewards for loyalty seemingly, so just jump to the cheapest.

Today, I’ve had the email for house insurance renewal, which shows and increase of £90 from last year. Apparently, building costs have increased and the premium for subsidence has increased. She said all coastal properties must have cover for subsidence. We’re a few miles from the coast.

We had a small claim last year, which I specifically mentioned at renewal and was told it made no difference. So this year, it does. I’ll be shopping around again I guess.

Mine was too, more than £100 cheaper

The law changed recently to try to stop this kind of thing - they're now not allowed to charge more for a renewal than they'd charge a new customer for the same policy - although I just googled to check myself before posting and it seems they've found some loopholes that they're taking advantage of - Grrrr!

Looks like there are people looking to close these loopholes to stop loyal customers being taken advantage of

@JauntyJinty that's interesting. The renewal letter did say that they guaranteed it was no more than they would offer a new customer.

I'm just astounded they managed to knock off over £200 just like that!