I am always under the impression that Insurance companies make up their policy prices by pulling figures out of the sky.
I Insure through Swinton with Ageas where my renewal is due early March.
The quote was “with present Insurer (Ageas) £199.50” with a new Insurer (Ageas £165.00"
I asked the agent what the difference was being as it is the same insurer, He said it was a different scheme from Ageas, I asked him to confirm what the difference between the “schemes” were , he couldn’t tell me. He also confirmed that the terms and conditions were the same, the excess was the same,NCD was the same. Confirmation to me that we need to be wary of these legalised bandits. end of rant…
Yer it is all bull! I always get 80% discount every year, the issue is they never tell me the start price so how the hell do I know if I get 80% or not.
Also, worth noting NCB is not really worth the paper it is written on also. I lost some of mine because an insured driver on the policy had an accident. Following year, made no difference to the policy really.
I suspect the difference will be a discount given against the brokers fee or the brokers commission, in the course of haggling for the business brokers will often give a discount against their broker fee and/or commission to achieve a level of business with a particular insurer.
Read through the renewal, there may be a breakdown. On my renewals with Just Motorcycle Insurance I’ve always seen a side by side comparison between this years and last years premium and there is always a £35 broker fee followed by a discount of up to £35. I switched to Swinton this year and they showed the cost of the insurance plus a service charge of £35.00 and no discount! I didn’t bother to haggle because they were 30% less than JMI.
many insurers claim they won’t adjust your NCB… this is technically correct what they don’t say is they won’t adjust your premium if you have a claim , even if the fault was someone else…
2 Likes
See mine was the other way, I lost NCB discount but the following year it was still about the same price so losing them cost me nothing in essence.
ironically it was cheaper to keep the person who crashed my car on the insurance even though I was not the one who had the accident!
moral of the story for me, is I no longer pay to protect them as it has made zero difference.
2 Likes
