I've had similar experiences in the past and have never accepted their second offer even, on occasions, when it has cost me a few quid.
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Insurance renewal in 2023
- Thread starter yessuz
- Start date
It’s a simple game you need to play every year. I’ve been with admiral for coming up for 10y and it goes like this:
- renewal comes in, usually around 30% higher than prior year.
- I spend 20 mins doing price comparisons and often find they are one of the cheapest within the mix and very close to the prior year. Sometimes cheaper.
- I call admiral and explain the above.
- while on the phone they reduce the premium to at least the cheapest quote I can find or often cheaper.
- deal done for another year.
It is annoying but how they make their money. Hoping that people are either stupid or lazy (in my experience of a lot of the population, usually both) and just auto renew.
This year was a bit of an exception where my multicover jumped almost 20% covering 2 cars and house. Still cheapest I could get and reckon due to new pricing rules.
Hey ho..
- renewal comes in, usually around 30% higher than prior year.
- I spend 20 mins doing price comparisons and often find they are one of the cheapest within the mix and very close to the prior year. Sometimes cheaper.
- I call admiral and explain the above.
- while on the phone they reduce the premium to at least the cheapest quote I can find or often cheaper.
- deal done for another year.
It is annoying but how they make their money. Hoping that people are either stupid or lazy (in my experience of a lot of the population, usually both) and just auto renew.
This year was a bit of an exception where my multicover jumped almost 20% covering 2 cars and house. Still cheapest I could get and reckon due to new pricing rules.
Hey ho..
Except it unfortunately doesn't work like this for everyone. My scenario -
- renewal comes in, usually around 30% higher than prior year.
- I spend 20 mins doing price comparisons and often find they are one of the cheapest within the mix and very close to the prior year. Sometimes cheaper.
- I call admiral and explain the above.
all of the above applies, apart from the bit where they come back and make a meaningful reduction, in my case they knocked off £100 and were generous enough to agree to a further £10 reduction if I decided I wanted to remove the named driver on the policy, which wasn't an option.
Tesla Gears Up for European Launch of Tesla Insurance As Expansion Continues
Tesla Insurance appears to be preparing for a launch in Europe, as the company has recently advertised for a Legal Counsel position specializing in insurance fo
www.notateslaapp.com
Hopefully the above launches and Tesla take the insurance in house as opposed to the current outsourcing to Direct Line.
Guess I should have signed off with YMMV…Except it unfortunately doesn't work like this for everyone. My scenario -
- renewal comes in, usually around 30% higher than prior year.
- I spend 20 mins doing price comparisons and often find they are one of the cheapest within the mix and very close to the prior year. Sometimes cheaper.
- I call admiral and explain the above.
- while on the phone they reduce the premium to at least the cheapest quote I can find or often cheaper.
- deal done for another year.
all of the above applies, apart from the bit where they come back and make a meaningful reduction, in my case they knocked off £100 and were generous enough to agree to a further £10 reduction if I decided I wanted to remove the named driver on the policy, which wasn't an option.
Tesla Gears Up for European Launch of Tesla Insurance As Expansion Continues
Tesla Insurance appears to be preparing for a launch in Europe, as the company has recently advertised for a Legal Counsel position specializing in insurance fo
Hopefully the above launches and Tesla take the insurance in house as opposed to the current outsourcing to Direct Line.
Cardo
Active Member
I’m the same. I refuse to take their “don’t leave us offer” on principle.
Hi,
If we have provided own another car ( insurance with different company) and total of 2 cars including the new Tesla as details while buying new car insurance, and later ( may be in a month) sell the old car, do we have to inform the new insurance company that I have sold the old car and there is only one car now?
As there is premium difference if I don’t mention I own another car while buying new insurance
If we have provided own another car ( insurance with different company) and total of 2 cars including the new Tesla as details while buying new car insurance, and later ( may be in a month) sell the old car, do we have to inform the new insurance company that I have sold the old car and there is only one car now?
As there is premium difference if I don’t mention I own another car while buying new insurance
Clearly there are a list of factors that affect the quotes we get most of which can't be changed BUT what seems clear is that there is no agreement between insurance companies on 'weighting' between this factor or that (which is crazy as they must all have the same data and so logically should all come up with the same algorithm). The only questions I have are:
1. Which company is the current favourite?
2. Which companies are not on the 'compare' sites?
3. Which companies (if any) give a better quote by going to them direct (cut out the compare sites)?
4. What can I do to make it cheaper e.g. pay for a tracker or will the cost of the tracker be more than the saving?
Mine is up im March and I know it is going to be days of painfull searching.
1. Which company is the current favourite?
2. Which companies are not on the 'compare' sites?
3. Which companies (if any) give a better quote by going to them direct (cut out the compare sites)?
4. What can I do to make it cheaper e.g. pay for a tracker or will the cost of the tracker be more than the saving?
Mine is up im March and I know it is going to be days of painfull searching.
Cardo
Active Member
Looks like we’re also getting bashed with the crazy insurance renewal. Our first year was around £400, second year £600 and now they want almost £1100.
We’re getting stuffed by expensive claims due to lack of parts, I feel.
We’re getting stuffed by expensive claims due to lack of parts, I feel.
WannabeOwner
Well-Known Member
Make sure your house insurance total-lost rebuild amount is sufficient - rebuild costs have skyrocketed and might be that folk have become underinsured
I went with Admiral last year for the first time as they were cheapest and it was the first couple of weeks of Model Y. Renewal came through this morning by email, up from £439 to £664, more than 50%. Quick call to them and made a couple of changes, reducing resale value (obvs as not new now and general price reduction) and mileage from £12k to £10k as have done less than £8k to date. Plus a "discount" so reduced to £505. So still more than 10% increase but will probably accept that now.
I Think they would research that if there was a claim and it would fall into their catch all non-disclosure rules and give them a reason to void the policy.
I would be selling the old car. There won’t be any claims or anything. My only question is should I update the change to new insurance company about the change.
WannabeOwner
Well-Known Member
Can't do any harm to tell them - they've calculated your premium for the current year surely?, so if there is an impact that would be "Next year"
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