Funny goings on at 123.ie house insurance???

Kashkai

I received my renewal quote from 123.ie a few weeks back and it was 640 euro. So I checked their online quote calculator and i reduced my buildings cover by 100,000 to 400,000 and my contents cover from 70,000 to 30,000 and I got a new quote of 386 euro.

I rang them up and they said this was a mistake and it should be 570 euro. However I said I had the quote in front of me and I had received this quote in an email from them. The sales rep said he'd have to check with his supervisor and call me back.

Next day, I still hadn't heard from them and so I called only to be told that they'd have to check with their supervisor and call me back. So third time lucky I rang and this time they agreed, though apparently very reluctantly to give me the insurance at the price I was quoted online, though again they pointed out that it was a mistake.

However the money still hasn't been taken out of my credit card and I haven't received the email enclosing my policy documents. My house insurance is up next Tuesday btw.

To prove my quote is valid, check their website and input the same details of my house, I.e.:
400000 rebuilding, 30,000 contents, bungalow, prosperous, co Kildare. 2 years claim free, 500 claims excess, standard alarm. This will give you a quote of 386 euro.

Ive checked this four times (inputting the exact same details as what is on my renewal from 123) and I get the same quote online. So it's not a mistake on my part. Now what to do if I don't get my documents by Tuesday? Am I insured or not as 123 evidently are not happy with the quote their website gave me.

hucklebuck

They are right the quote should be around €600. I would say it's just a case of a better quote for new customers to get them in the door and then crank up the premium at renewal, they are giving you that price as you caught them with their pants down.

In relation to renewing, drop them asking them to renew your policy for a further 12 months at the agreed premium of €386 and you look forward to receiving your schedule and receipt to finalise matters.

I wouldn't be too concerned if you give them written renewal instructions you won't have a problem:)

Kashkai

Cheers. I'll send them an email as I still haven't received my new policy, nor has the money been deducted from my credit card even though I gave them all the details by phone last Friday.

I agree that the quote is very low as the next cheapest I got was 540 euro. However 123 should take a look at their online insurance quote programme as I'm still getting a quote of 386 when I put in my details. Perhaps the rest of you should see what quotes it throws back at you.

hucklebuck

I think it is a simple case of getting business in, loads of them do it.

P_1

Insurance companies tend to discount on the margin for New Business customers and don't discount on the renewals.

Thats how they make their money, get new business in at a 'reduced' price and then jack up their margin on renewals.

Sounds like you have them by the short and curlies, take them at the new business price, I'd reccomend shopping around on your next renewal though (and you probably shouldn't have told them that the next lowest price was 540 :cool:)

Edit, I see you didn't, misread your post.