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Legal, pensions and money

Insurance rip-off?

(28 Posts)
FlicketyB Sat 06-Jul-13 08:08:50

And never stay with the same insurance company too long. They just add x% to your insurance each year. It has been found recently that some people who have loyally stayed with the same company for years, thinking that loyalty was rewarded were paying £700 - £900 for home insurance when a new policy with the same company or any other company was around £250.

bluebell Sat 06-Jul-13 07:54:18

It's absolutely the norm - the same thing happened with my car insurance and when I rang up, they reduced it by £130! Well, that's capitalism for you,

whenim64 Sat 06-Jul-13 07:28:29

Yesterday, I received my annual home and contents insurance, with a note telling me they're very sorry but my previous company couldn't offer a policy this year, so they found another for me. This one was 50% higher.

I went on a comparison site, got another policy for £30 a year less than last year, and phoned up to cancel. 'Oh, we will find you a better quote, don't leave us' said the call centre worker. Why would I want to stay with a company that didn't find a better quote in the first place?

Is this the norm now? Do these companies automatically send higher costing quotes, in the hope we won't notice?