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Insurance renewal and price confusion.

  • 06-07-2010 9:27pm
    #1
    Registered Users, Registered Users 2 Posts: 16,069
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    I'm insured with Allianz.
    My premium for last year was something about 600 euros.
    This year, they send me a renewal letter, with the same price (about 600). However, prices in most insurance companies has fallen down since last year.
    Even more - when I enter all my details on Allianz website, it's gives me premium of 520 euros - and this includes exact the same extras as I have on my policy.

    So I gave them a call, and I was told that they can't lower my premium over the phone, and only what I can do, is not renew my policy, and get a new one from website...
    Is there any negative side of doing it?
    Only one I can think off, is that if I want to cancel ma policy in nearest future, then with the now policy there are very high cancellation charges, but with renewed policy, I would get a refund of not used part of the policy. Is there anything more that I don't know?
    Or maybe I should call them again, and someone else will answer who will be able to lower my premium over the phone.


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Comments

  • Registered Users, Registered Users 2 Posts: 1,637 CoDy1
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    I'd give them a ring and ask to speak to someone who will match the quote online, if anything to save the hassle of setting up a new policy but also you are right in what you say about cancellation charges. Most companies have cancellation charges (up to 30%) if you cancel during the first year with them but if you are in your second or more year with a company they will refund you what you havent used, (pro rata).

    If you set up a new policy, this will be classed as your first year again. Better to renew imo.
    I'd still shop around a bit more, no point in being with an insurer who take the piss like that either.


  • Registered Users, Registered Users 2 Posts: 16,069 CiniO
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    CoDy1 wrote: »
    I'd give them a ring and ask to speak to someone who will match the quote online, if anything to save the hassle of setting up a new policy but also you are right in what you say about cancellation charges. Most companies have cancellation charges (up to 30%) if you cancel during the first year with them but if you are in your second or more year with a company they will refund you what you havent used, (pro rata).

    If you set up a new policy, this will be classed as your first year again. Better to renew imo.
    I'd still shop around a bit more, no point in being with an insurer who take the piss like that either.

    Haha...
    Every insurer in this country takes a piss like that.
    Actually when I set up an insurance with them last year, I got annoyed from the beginning.
    I filled all details online, paid with laser card, and thought, that in couple of days I'll receive cert and disc. (that's how it worked with hibernian which I was insured before).
    No - obviously it would be too easy.
    In about 5 days, they send me in post all the forms to fill in the same data, as I already filled in online. But OK, I did that, send them back, together with confirmation of my previous no claims bonus from hibernian.
    Just one thing to mention - proof of no claims bonus was issued on my name and it said it was for Fiat bravo which I had at this time, but unforutnetly in the time between the issue of this statement, and time I was arranging new policy I changes a car for different one.

    Obvoiusly Allianz wrote me back in about 5 days, with the letter, that I need to write a confirmation, that I don't own the Fiat bravo anymore neither I insure it with any other insurance company.

    Actually I was already bit pissed off, because days were passing, and I still didn't have my disc. If I was stopped by guards, they could easily give me penalty for not displaying disc (it was already over two weeks after policy renewal time). I gave them a call, that statement like they require was signed by me on my no claims bonus statement. It stated exctly what they wanted - that car was not insured anymore and I was signed under it and it was already posted to them at the begining.
    I also explained, that I can sing that I don't own the car, because I still do, but I'm not using it (it was parked in my garden).

    Anyway, they said by the phone, that I have to send this statement, otherwise they will not be able to provide me with policy. None explanations worked, that I already send it.
    Lady by the phone said, that she understands it, she can see it, and she knows it says exactly the same what she wants me to sign, but I still have to sign it.

    I told her that if there's so much trouble just to get the policy from them, that I can't imagine how much trouble would I have if I had to make a claim.

    Anyway, I calmed down a bit, gave them another call (i think it was fourth person I was speaking to there) and finally she said that she's a manager in there, and that she's very sorry and I don't need to send anything, and that my disc and cert are already in the post, because she send them just right now.

    That actually made me finally stay with them.

    Other thing, is that I really did shop around now, and I still didn't find any cheaper insurance for me, which would include all the extras Allianz gives me at this price.


    PS. If I wanted to say all the stories about hibernian I was insured with before, I could write a book.


  • Registered Users, Registered Users 2 Posts: 1,637 CoDy1
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    Ring brokers too, they have access to insurance markets and companies that aren't direct, usually get a better price to.


  • Registered Users, Registered Users 2 Posts: 21,263 Eoin
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    CiniO wrote: »
    However, prices in most insurance companies has fallen down since last year

    I have found the exact opposite.


  • Banned (with Prison Access) Posts: 4,991 mathepac
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    eoin wrote: »
    I have found the exact opposite.
    Reports indicate you are correct - house insurance, motor, etc all increased. Mine are due at the end of Aug & mid Sept and I'm not looking forward to the prices.


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  • Registered Users, Registered Users 2 Posts: 2,347 si_guru
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    eoin wrote: »
    I have found the exact opposite.

    I agree... our house insurance went up by €150 per year.. so we shopped around and got the same price as last year by moving to Allianz.

    Car insurance went up €100 each, so we moved from Avivia to 123.ie and got a lower premium than last year.


  • Registered Users, Registered Users 2 Posts: 33,518 dudara
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    My car insurance actually went down this year (from about €650 to €490) - I wasn't expecting that as it appeared to be going up for everyone else.

    OP - Ring around with brokers. They can often provide very good prices. I've used insure.ie for the last 4 years and I'm very pleased with their service. I'd imagine that other brokers will be similar.


  • Registered Users, Registered Users 2 Posts: 46,838 Mitch Connor
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    dudara wrote: »
    My car insurance actually went down this year (from about €650 to €490) - I wasn't expecting that as it appeared to be going up for everyone else.

    OP - Ring around with brokers. They can often provide very good prices. I've used insure.ie for the last 4 years and I'm very pleased with their service. I'd imagine that other brokers will be similar.

    when my quote came in this year, it was only slightly down on last years quote - down from 906 to 840. When I went on to the Quinn Website i got a quote for 664 with NCB Protection (which the renewal didn't have). I gave them a ring and after a bit of chatting and some call backs, I got them to match it at 664, gave them my CC details and they said they would call me back if there were any problems. Got a call back an hour later to say when they went to put it through the price had come down even more to 560! Couldn't believe it, little work on my side and a result of a near 33% reduction on the renewal price!!

    Looked around a load of other places and NO ONE came even close to beating Quinn on it. FBD quoted me 1500!!


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