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New policy cheaper than renewal - explain!

  • 13-01-2020 12:05pm
    #1
    $tormer
    Registered Users, Registered Users 2 Posts: 13 ✭


    My renewal letter arrived and my insurance has gone up from €341.26 to €426.63. Thats over €85 more without any claims or anything changing since I took the policy out. In fact I have an extra years no claims, still have zero penalty points and I'm another year older. So I went online and started a new quote with the same details on Liberty's website and got a quote for €409. So it appears I am not being rewarded for loyalty or having an even cleaner driver record. For the record, in 2018 I paid €315. Please explain!


Comments

  • #2
    ELM327
    Registered Users, Registered Users 2 Posts: 22,639 ✭✭✭✭ELM327


    $tormer wrote: »
    My renewal letter arrived and my insurance has gone up from €341.26 to €426.63. Thats over €85 more without any claims or anything changing since I took the policy out. In fact I have an extra years no claims, still have zero penalty points and I'm another year older. So I went online and started a new quote with the same details on Liberty's website and got a quote for €409. So it appears I am not being rewarded for loyalty or having an even cleaner driver record. For the record, in 2018 I paid €315. Please explain!
    you aren't
    Shop around, never accept a renewal quote.
    This is not unique to liberty


  • #3
    Wheety
    Registered Users, Registered Users 2 Posts: 5,516 ✭✭✭Wheety


    Check other companies. Liberty have just shown you they have no loyalty to you, so why should you be loyal to them?


  • #4
    Liberty Insurance: Rachel
    Company Representative Posts: 35 Verified rep ✭Liberty Insurance: Rachel


    $tormer wrote: »
    My renewal letter arrived and my insurance has gone up from €341.26 to €426.63. Thats over €85 more without any claims or anything changing since I took the policy out. In fact I have an extra years no claims, still have zero penalty points and I'm another year older. So I went online and started a new quote with the same details on Liberty's website and got a quote for €409. So it appears I am not being rewarded for loyalty or having an even cleaner driver record. For the record, in 2018 I paid €315. Please explain!
    Hi $tormer,


    Can you please PM your policy number and the quote reference number and I will check this for you.


    Thanks Rachel


  • #5
    $tormer
    Registered Users, Registered Users 2 Posts: 13 ✭$tormer


    Liberty Insurance: Rachel wrote: »
    $tormer wrote: »
    My renewal letter arrived and my insurance has gone up from €341.26 to €426.63. Thats over €85 more without any claims or anything changing since I took the policy out. In fact I have an extra years no claims, still have zero penalty points and I'm another year older. So I went online and started a new quote with the same details on Liberty's website and got a quote for €409. So it appears I am not being rewarded for loyalty or having an even cleaner driver record. For the record, in 2018 I paid €315. Please explain!
    Hi $tormer,


    Can you please PM your policy number and the quote reference number and I will check this for you.


    Thanks Rachel
    Yes I will DM you the details but can you please explain why my renewal is €85 higher than last year without any claims or penalty points? I now have 13 years no claims bonus and 36 years of age, same car, same address, same job, etc.


  • #6
    ED E
    Registered Users, Registered Users 2 Posts: 36,170 ✭✭✭✭ED E


    $tormer wrote: »
    Yes I will DM you the details but can you please explain why my renewal is €85 higher than last year without any claims or penalty points? I now have 13 years no claims bonus and 36 years of age, same car, same address, same job, etc.

    Because most people are shmucks and will just pay it.


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  • #7
    $tormer
    Registered Users, Registered Users 2 Posts: 13 ✭$tormer


    Uodate: So I got contacted by a lovely lady on the phone from Liberty who confirmed my details. I was able to get my car insurance at a cost of €387. Very decent considering other quotes I got. I shopped around and next best quote was €479 from AIB. The rest ranged from well over 500 to beyond 800 for TPFT! No wonder theyre making massive profits year on year!


  • #8
    Fazorb
    Registered Users, Registered Users 2 Posts: 48 ✭Fazorb


    $tormer wrote: »
    Uodate: So I got contacted by a lovely lady on the phone from Liberty who confirmed my details. I was able to get my car insurance at a cost of €387. Very decent considering other quotes I got. I shopped around and next best quote was €479 from AIB. The rest ranged from well over 500 to beyond 800 for TPFT! No wonder theyre making massive profits year on year!
    Hi,

    Are Liberty insurance adjusting policy costs to reflect the lack of driving days?

    I have my renewal today, despite another 1 years no claims bonus and the drop in me being on the road, yet again there is an increase.

    Surely this is in error? Can I request a callback from yourselves to discuss a reduction if you would like me to continue with this policy.


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