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Discussion Starter #1
Why is there such huge differences?

Renewal due, currently with Endsleigh. Renewal price £600.:wow:

Found it strange as I now have 9 years NCB, no accidents, claims, convictions. Eventually got insurance for £330, same level of cover as offered by Endsleigh. Got quotes from a comparison site and Endsleigh came up as around 25% cheaper than the renewal. Asked them but was told "only for new customers and don't now how other companies could offer me cover cheaper" Been with them for a few years so it really annoyed me.

Companies don't seem to want to keep the customers they have.
 

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This is common practice in the insurance world. All insurance companies measure their success based predominantly on 'new business' premium. Renewal premium, although generating the same revenue, just doesn't seem as important.

Hence they price competitively to attract new customers by discounting 1st year premium and then load it up in following years to try and recoup the money, hoping apathy means people won't switch.
 

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When I renew my car insurance I always have a look around (I usually use confused.com as a first pass) ... last year my renewal quote from "more than" was more than the quote I got from confused.com, I rang them up and they "explained" that the renewal was higher (by about £50) because they had sent a letter out :rolleyes: ... so I accepted the one on confused.com no problems!!!! :thumbs:
 

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Hence they price competitively to attract new customers by discounting 1st year premium and then load it up in following years to try and recoup the money, hoping apathy means people won't switch.
Which is great if you change every year.
 

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I'm absolutely convinced it's a cartel issue with insurers seeming to all coordinate between themselves to switch customers around. I can only assume - as has been suggested above - that some form of measure they use either in providing shareholders with information, or maybe in the way they compensate their sales satff perhaps - is driven by "new" business over "repeat/renewal" business.

I have regularly flip/flopped between insurers on alternate years where for the same car, same address, same driving record etc etc they will offer an obscene increase on renewal - but 12 months later be by far the cheapest on a new policy.

On one of my cars that I've had for 10 years I have literally alternated every other year between the same two insurance companies with neither ever quoting me a decent second year renewal..... It's madness. A real waste of time for all concerned.
 

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I'm absolutely convinced it's a cartel issue with insurers seeming to all coordinate between themselves to switch customers around.
A lot of the different insurance brands are all owned by, or at least underwritten by, the few major insurance companies there actually are.
 

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Discussion Starter #9
Think I will be shopping around regular from now on as the difference between my renewal quote and the policy I took was £270. In the past I haven't changed insurer that much as differences weren't that much before.
 
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