Loyalty should pay, not cost you more!
I agree. Unless you happen to be someone who enjoys haggling (and I would wager that most don’t), it’s become an annual chore to have to shop around for car insurance, home insurance, broadband and landline if you want one and mobile phone. Fortunately, I have found a car insurer, home insurer and mobile phone provider (SIM only) who seem to value loyalty, who for the last three years have kept their prices low and come out best or near enough best for me on price comparison. It’s great relief to see that and to just be able to accept the renewal quote.
Perhaps some companies are starting to realise that the administrative costs of annual chopping and changing is not actually cost-effective, that the new business attracted and the old business lost cancel one another out. These businesses all have access to shared databases, can see what customers are doing; can see who chops and changes annually and is unlikely to stay for more than twelve months. Yes, some companies do penalise those who remain loyal, Direct Line are bad for that in my experience, so customers do need to be aware but I do think that things may be changing.