Why do insurance companies screw you?

Today we received a renewal for our Home contents and building insurance. Whammy – a nice £200 rise. So what do we do but call the lovely Direct Line and enquire as to why the price has nearly doubled. Well apparently they sent auto renewals out – so you maintain your cover which NEVER include their loyalty bonus. So for the lazy, the stupid, the too busy – they get stung with a huge rise. By calling guess how much they were prepared to knock off? £180 there and then!

Did we renew? Afraid not. If that’s how they treat customers I think we will look elsewhere – and guess what. We can get the same policy even cheaper!

3 Responses to Why do insurance companies screw you?

  1. Jack Matthews says:

    I had the same with Birmingham Midshires (part of HBOS) last year. My contents insurance was £68 and when my renewal came through was £180. When I rang to cancel I was told that extras had been added on to the renewal quote and when these were removed the policy would cost £56! Rather odd.

    I have been looking at car insurance recently. The cheapest for TPFT for a 9 year old Fiesta valued at £1000 was £670 from Admiral. I got a call from Swinton who had "a great deal" for me. Their price? £1600!

    You couldn't make it up!

    • editor says:

      I love how they say they issue an auto renewal.. so as to make sure you are continually insured BUT they slap another £180 on the price that they ARE prepared to knock off if you call. They clearly hope you dont notice!

  2. Sheepdog says:

    I had the same experience with Direct Line, renew on line with them it is even cheaper. Insurance companies are all alike,they all try to rip you off.

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