AA guarantees to beat your car insurance renewal quote

January

Just to clarify this... you know the AA aren't an insurance company, they're an insurance broker... so any discount you're getting is coming from the insurance companies.

The AA will look at their system and see the quote, come back to you and then if you have a cheaper quote they have to ring the insurance company and see if they can get them to lower the price.

Orion

Shopping around holds true for insurance in general - not just car insurance. I got my home insurance renewal quote from First Active - €814! With one phone call I got that reduced to €415 with the same company.

S.I.R

ill give them a buzz monday, see if they cant beat what im paying atm but it would want to be 100+ or i would want the few cents for the phonecall back...

Saruman

The AA site was too expensive for me a few weeks back, about €150 more than my renewal, so were most of them actually including tesco. 123.ie came in about €60 or more cheaper so when Britton called me with a few days to go and asked was I renewing I said I was actually shopping around and I am getting around the €420 mark which is better than €490 something.
She called me back and said €393 for myself and wife or €410 for just me. My wife lost her license and does not drive so I just had to go with me. Its better than what my renewal actually was, I could have gotten it cheaper if I cut out extras but to be honest I used my breakdown cover a few times last year so it is worth the extra €10 or €20.

onlinegamer

i cant get a quote at all from 123.ie im a male driver with 4 yr name driver experience on my girlfriends policy, comes up at the final page (Thank you. Unfortunately we are unable to offer you a quote at this time)

quinn direct are able to quote me 610€ starting off on my own policy why cant 123.ie

marknoonan1974

onlinegamer wrote: »

i cant get a quote at all from 123.ie im a male driver with 4 yr name driver experience on my girlfriends policy, comes up at the final page (Thank you. Unfortunately we are unable to offer you a quote at this time)

quinn direct are able to quote me 610€ starting off on my own policy why cant 123.ie

123.ie are a broker, they are not an insurance company. The companies are more likely to quote you.

snappieT

gaz wac wrote: »

people no longer have two car's or are just getting rid of their everyday car as they cant afford it so the Ins Com have to recoup the cost from other costumers"

What a load of cock, if they are insuring fewer cars, then they are exposing themselves to less risk, so there will be fewer payouts. They don't need to raise prices unless it suddenly is costing them more in claims. If anything, prices should be going down since:

• The open-market value of the car being insured is lower (nobody is buying), so replacing it would cost less.
• Cost of repairs is lower due to abundance of mechanics (people will try and get a few thousand more miles before a service -> fewer services)

foggy_lad

everything is coming down in price as are people's salaries but the insurance companies will not reduce their profits for anything less than an act of god

Colonel Sanders

foggy_lad wrote: »

the insurance companies will not reduce their profits for anything less than an act of god

Most companies are well on track to lose money this year. FBD made a loss last year and most of the others either made underwriting losses or relied on balance sheet reserve releases to make a profit and make up for very poor2008 accident year performance

Colonel Sanders

snappieT wrote: »

What a load of cock, if they are insuring fewer cars, then they are exposing themselves to less risk, so there will be fewer payouts. They don't need to raise prices unless it suddenly is costing them more in claims. If anything, prices should be going down since:

• The open-market value of the car being insured is lower (nobody is buying), so replacing it would cost less.
• Cost of repairs is lower due to abundance of mechanics (people will try and get a few thousand more miles before a service -> fewer services)

If they are insuring fewer cars then their expenses have to be spread over fewer policies => expenses as a % of premium will rise. Cutting costs is very difficult and also seems to be very unpopular as Hibernian found out when outsourcing, if their rating structure is correct then the number of cars insured is irrelevant for the proportion of the premium that is paid out in claims

Between about 2003 and 2007 motor insurance premiums pretty much halved. They are already unprofitable so increases ARE needed so your assertation that prices should have gone down is incorrect

The largest proportion of the premium is spend on third party injury claims so the fact that repairs etc are going down effects a small proportion of the premium (look at the difference between third [arty fire and theft and comp cover to see this)

justomc

My insrance was due for renewal last week and cheapest quotes I was getting was around the 800 mark fully comp.

I logged on the Chill.ie and got a quote for 750 and was going to go with this as 50 quid in my pocket is better than in some insurance companies account.

Instead of proceeding online I rang the contact number on their website (1890 30 20 20 ) and the girl told me they were just after getting links to some new insurers which are not on their website as of yet.

The result 560 yoyo's fully comp so saved almost 200 by making a phonecall

snappieT

Colonel Sanders wrote: »

If they are insuring fewer cars then their expenses have to be spread over fewer policies => expenses as a % of premium will rise. Cutting costs is very difficult and also seems to be very unpopular as Hibernian found out when outsourcing, if their rating structure is correct then the number of cars insured is irrelevant for the proportion of the premium that is paid out in claims

Between about 2003 and 2007 motor insurance premiums pretty much halved. They are already unprofitable so increases ARE needed so your assertation that prices should have gone down is incorrect

The largest proportion of the premium is spend on third party injury claims so the fact that repairs etc are going down effects a small proportion of the premium (look at the difference between third [arty fire and theft and comp cover to see this)

I realise that if they got their numbers right, then there should be no change in premiums regardless of the number of policies they are issuing (except for operating costs).

My point is that the claims they need to pay out on now have a lower value due to an abundance of labour and the low market value of cars. If they're paying out less money in claims, they should be taking less money in through premiums.

Rockiemalt

I got my renewal quote €717,last year my insurance cost €430 with hibernian.

I did just change cars from a 98 Fiat seicento to a 00 Yaris and moved from 3rd party to comprehensive but that increase just seemed absolutely insane!

I've shopped around a bit and got it down to €440 with 3 years NCD (24 yr old female) but the best Hibernian could do was €680!

Wisesmurf

justomc wrote: »

My insrance was due for renewal last week and cheapest quotes I was getting was around the 800 mark fully comp.

I logged on the SHILL.ie and got a quote for 750 and was going to go with this as 50 quid in my pocket is better than in some insurance companies account.

Instead of proceeding online I rang the contact number on their website (1890 30 20 20 ) and the girl told me they were just after getting links to some new insurers which are not on their website as of yet.

The result 560 yoyo's fully comp so saved almost 200 by making a phonecall

FYP!

Elessar

My renewal is not up for a few months but for pigiron I went to a few sites to get a few quotes and HOLY SH*T, the cheapest was over 300 dearer than I'm paying at the moment!

What is driving an increase like this?

Our man in Havana

Greed. Brokers don't think a recession is on right now.

Tony

Elessar wrote: »

What is driving an increase like this?

Insurance companies get much of their income from investing premiums in the the markets etc so with the state these are in their income from these sources are way down.

Keith C

Bond-007 wrote: »

Greed. Brokers don't think a recession is on right now.

Brokers have had it tough the last few years, lower premiums meant lower commisions, numerous brokers have merged to try stop going out of business's.
Insurance is a touchy subject that everyone loves to hate. Everyone hates the idea of a giant company making millions of profit, reality is that car, house, commercial etc costs insurance companies money i.e they don't make a profit on it. Profit is made from investing money & as the markets are in serious trouble so are insurance companies, hence the rise in premiums to try compensate.
Someone else mentions about car repairs being cheaper, thats well & good but its the personal injuries that cost money.
Example
2 car collision, damage to both cars €20k
4 people injured whiplash or worse, reserve €10k per person (guesstimate)
INsurace costs on car A €700 car B €900

Premium in: €1,600 Claims payment out: €60,000

Now how many years do car A & B need to be insured for insurance company to make a profit........

Yes not everyone has crashes but above is a moderate example to highlight the aul cash in cash out.

Keith C

from PIAB website

http://www.injuriesboard.ie/eng/Estimator/

Neck injuries
Up to €14,400 – Minor whiplash neck injury – good recovery within 12 months
€11,500 to €17,400 – Moderate whiplash neck injury – substantially recovered within 24 months
€15,900 to €64,500 – Significant ongoing whiplash injury
€59,400 to €78,400 – Severe neck whiplash injury (serious and permanent condition)

Fighting Irish

Barty wrote: »

I thought that's what he meant but I think Raviravi was right not to go with the AA. The AA initially said they couldn't provide a cheaper quote but then once Raviravi said they were going to go with the 123 quote the AA dropped their quote. It's like you have to haggle with the insurance company!

Anyhow, I don't want to go OT here - I think it just shows that shopping around is always beneficial and I don't understand why some people don't take the time to shop around

And whats the problem with that, they are a business, and like every other business their one goal is to make a profit

Colonel Sanders

snappieT wrote: »

My point is that the claims they need to pay out on now have a lower value due to an abundance of labour and the low market value of cars. If they're paying out less money in claims, they should be taking less money in through premiums.

And as I said most of the premium goes on covering injury claims.

Premiums are currently unprofitable and this is before you factor in a recessionary impact. People are more likely to claim and also the amount claimed for goes up, on average. This is due to increased fraud but also cases such as people not having the ready cash to pay a small claim that they may have done in the past to preserve their no claims discount

Colonel Sanders

Elessar wrote: »

My renewal is not up for a few months but for pigiron I went to a few sites to get a few quotes and HOLY SH*T, the cheapest was over 300 dearer than I'm paying at the moment!

What is driving an increase like this?

By any chance was last year your first year with your insurer? Most companies gave brokers and direct sales people the 'power' to give discretionary discounts in the tail end of 2007 (irresponsible move to build volume at almost any cost). These have been of the order of up to 20% on new business, and sometimes more if they have a 'price mathc' arrangement with a group of brokers. Unwinding this discount would equate to an apparent 25% increase and this is before book rate increases (which most companies have added this year) are added on top.

It was a massively ill thought out strategy that causes huge problems at renewal

scout353

Was insured with insure.ie and their renewal in Jan was €50 dearer than last year. They also asked me to call them if I found a renewal cheaper elsewhere. So off I went and checked and ended up with a renewal about €20 less than last years.

So for pig iron I inputed my details back into the insure.ie site and their quote was just under €100 cheaper than their renewal quote! When I tackled them on it they said it must have been an admin error!

I did renew with them and now my partner's quote for renewal has come in and once again is way dearer. I have found a quote for €260 fully comprehensive on 25plus.ie which is nearly €100 cheaper than the renewal quote!

Just tried nononense.ie and the quote is €244

Dellas

Car Insurance due next week and have been onto 8 different websites tonight. 123.IE are quoting €290 Fully Comp/Windscreen cover/NCB Protection. Cant beat it. I got the letter from the AA also so might try them tomorrow before I buy on 123.ie

I have been with FBD for 4 years and they are quoting €484 for same thing. They wont match the other quotes either.

nava

Dellas wrote: »

Car Insurance due next week and have been onto 8 different websites tonight. 123.IE are quoting €290 Fully Comp/Windscreen cover/NCB Protection. Cant beat it. I got the letter from the AA also so might try them tomorrow before I buy on 123.ie

I have been with FBD for 4 years and they are quoting €484 for same thing. They wont match the other quotes either.

Exactly the same as me, been with FBD for 4 years or longer and they reduce the quote by €20 when I called them to check what they could do after getting a quote from 123.ie for €340, worst about FBD is they tried to convince me how good they are compared to others, started we offer Full NCD, Home Start, recovery and a few others, I said to her that looks exactly the same as 123.ie offers me for €100 less, then she started we cover windscreens, locks, personal damages, etc, so again I said to her same as 123.ie for €100 less.

AA quoted me a bit more than 123.ie but did not includethe Recovery service, you could contact it for €60.

Our man in Havana

The recovery service is extremely basic, the AA's own is miles better.

DeadSkin

With Hibernian about 12 years and they quoted me 490, told them about other quotes I'm getting and they won't budge. I know quite a few people who have left Hibernian this year.

AA offered 450, 123.ie offering 530.

Pain in the ar$e this year shoppin' round for insurance

Dellas

nava wrote: »

Exactly the same as me, been with FBD for 4 years or longer and they reduce the quote by €20 when I called them to check what they could do after getting a quote from 123.ie for €340, worst about FBD is they tried to convince me how good they are compared to others, started we offer Full NCD, Home Start, recovery and a few others, I said to her that looks exactly the same as 123.ie offers me for €100 less, then she started we cover windscreens, locks, personal damages, etc, so again I said to her same as 123.ie for €100 less.

AA quoted me a bit more than 123.ie but did not includethe Recovery service, you could contact it for €60.

Well I have to say fair play to AA. I called them this morning and told them my best quote was with Nononsense.ie which was €266.75 . She asked me some questions about the policy and then put me on hold. She came back and said AA will do it for €246 incl NCB protection and Windscreen cover etc...I bought it there and then with my Laser card. I didnt think they would but credit where its due.

I might take out their AA car breakdown in a few weeks also. Even taking that out it still beats FBD by €180 !!

Called FBD to advise them not to automatically renew my policy with them and to cancel the direct debit due next week. The girl asked me why I was not renewing. I told her and she said they were sorry to loose me. I told her they wouldnt have lost me if they had price matched.

Even if she had have price matched there and then I would have gone to AA. They took the trouble to step up to the mark so they get the business.

syboit

DeadSkin wrote: »

With Hibernian about 12 years and they quoted me 490, told them about other quotes I'm getting and they won't budge. I know quite a few people who have left Hibernian this year.

AA offered 450, 123.ie offering 530.

Pain in the ar$e this year shoppin' round for insurance

Opposite for me, got €30 off Hibernian when I rang them back and said looks like I might go with some-one else, so got it down to €530. AA couldnt beat even my original quote.

Snakeblood

syboit wrote: »

Opposite for me, got €30 off Hibernian when I rang them back and said looks like I might go with some-one else, so got it down to €530. AA couldnt beat even my original quote.

I got 520 from quinn Direct, no one else could or would come close. Tried AA, Hibernian, 123, and allianz, who were double anyone else.