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Car Insurance Renewal

  • 10-11-2023 5:25pm
    Registered Users Posts: 2,596 ✭✭✭

    Don't know if this has been asked before as couldn't find it when I insurance renewal quote is always more expensive than just buying a new policy off the same insurance company. Previously I would always reject the renewal and when the renewal date came around I would shop around and oftentimes more than not go with the previous years' insurer as their new policy quote was often the best and better than their renewal quote. Again this year I can save €70 if I just buy a new policy versus renewing the existing policy. Why would I or anyone ever want to select the more expensive 'renewal' option?

    Post edited by LIGHTNING on


  • Registered Users Posts: 6,615 ✭✭✭User1998

    I guess some people value their time more than €70?

  • Registered Users Posts: 2,596 ✭✭✭newmember2

    If they're getting paid €70 or more for five minutes work then my hat's off to them!

  • Registered Users Posts: 6,615 ✭✭✭User1998

    It’s just the whole shopping around part. It does take a full days worth of phone calls, emails, and online quotes etc. and if people are happy enough with their renewal they just let it auto renew to avoid the hassle.

    Not saying it’s something I’d recommend doing but each to their own.

  • Registered Users Posts: 14 mrkilkenny2018

    I get a quote from my current company as a new customer then maybe look at another company as a new customer - then I usually decide that as a new customer its borderline cheaper... but then I realise one of them doesn't include breakdown as part of the deal or the excess was slightly different or some other difference.

    On top of that you need to mess about with resending paperwork. I decide to just press the renewal button and go with that - unless significant price difference.

    I've stayed with the same for the last few years.

  • Registered Users Posts: 82,628 ✭✭✭✭Atlantic Dawn

    I found too that via a broker the quote can be cheaper or dearer than going direct to the company actually offering the cover, usually the initial year is cheaper than you can yourself get going direct as a new customer to that company.

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  • Registered Users Posts: 3,512 ✭✭✭Ginger83

    Last year €651

    Renewal quote €698

    Half hour shop around €477

  • Registered Users Posts: 1,123 ✭✭✭BlakeS94

    My renewal quote this year was €950 (claim last year) 20mins on the phone and got it down to €750 included all the best extras, definitely worth my time.

    Direct with FBD

  • Registered Users Posts: 82,628 ✭✭✭✭Atlantic Dawn

    Revolut are offering quotes now too, mine's not up for a couple of months but the quote they gave me was about €20-€30 cheaper than my quote last year so they look competitive.

  • Registered Users Posts: 6,615 ✭✭✭User1998

    Revolut is basically AIG insurance, so I can’t see them being anything special.

    The same way An Post is Aviva and Supervalu is Axa.

    It is very quick & easy to get a quote through Revolut tho which is handy.

  • Registered Users Posts: 82,628 ✭✭✭✭Atlantic Dawn

    Yes I was expecting a better offering to the market with say one policy covering multiple or unlimited cars you owned yourself.

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  • Registered Users Posts: 8,894 ✭✭✭PsychoPete

    I shop around as many companies as I can every year, I'll always change if there's any saving which there normally is

  • Registered Users Posts: 871 ✭✭✭mondeoman72

    The AA came in with a car insurance renewal at 770. I rang them up as it was 650 last year. They dropped to 620 euro. It is a PITA this messing every year but you have to do it or they will take advantage.

  • Registered Users Posts: 8,894 ✭✭✭PsychoPete

    There's no loyalty with insurance companies, if there's any money to be saved then thats what people should do

  • Registered Users Posts: 51,243 ✭✭✭✭bazz26

    Insurance companies charge you extra for your loyalty rather than rewarding you. It's called dual-pricing.