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Heres a question for you...

rbquk Avatar
7y, 10m agoPosted 7 years, 10 months ago
Hi,

The misses just got her new quote for car insurance which she has never changed since 2002 when she got the car.
They state they find her the cheapest deal possible yet I have been on 3 comparison sites and got it at least £150.00 cheaper deal with less excess and more bonuses.

The question is:
Do you think when you stay with the same people that they actually adjust the value of your car when looking for the best quote as her car was £10,000 then and is now worth £2,000 if that?

Just a thought and if they dont adjust the value can you not claim back from them as they have basically been conning you.
rbquk Avatar
7y, 10m agoPosted 7 years, 10 months ago
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#1
surely if you renew your insurance you should tell them of any changes and if your car is not worth as much you should tell them
#2
In my experience Insurance Companies always overcharge if they have not been cross examined yearly.

No idea on the car value but you would hope they adjust for depreciation, doesn't mean they do though.

Why don't you phone them anonymously with identical details to the misses and ask for a Quote ??
#3
The first rule of motor insurance is never accept a renewal quote without checking. As you have found it often pays.... if you like the way the company works and happy to pay a bit extra for their service then fine but generally we look for the cheapest quote and you do not often get that on renewal... It was proved to me by More Than, i accepted renewal from them two years running and then when I check I actually found them to be the cheapest but at £75 less than they had quoted me...
#4
Hmmm, definately something to think about as you give that information for a new quote but a renewal would possibly not take that into account, think yr onto something there. Im definately changing this year without a doubt, Ive been with churchill for 7 years and it has never gone downby more than £30, but then I have only had a computer for just under a year and t'internet is a wonderous thing for opening the eyes.
#5
michelleleemoo
Hmmm, definately something to think about as you give that information for a new quote but a renewal would possibly not take that into account, think yr onto something there. Im definately changing this year without a doubt, Ive been with churchill for 7 years and it has never gone downby more than £30, but then I have only had a computer for just under a year and t'internet is a wonderous thing for opening the eyes.


Wll if it becomes the next big claim thing then remember where you heard it first and i will only take 10% lol.
#6
hottoshop
In my experience Insurance Companies always overcharge if they have not been cross examined yearly.

No idea on the car value but you would hope they adjust for depreciation, doesn't mean they do though.

Why don't you phone them anonymously with identical details to the misses and ask for a Quote ??


im gonna do that now and see what they say.
#7
It's a very interesting question on the value side and now I think more about it I think I'm probably wrong in assuming they would adjust for depreciation.

Research is needed !!
#8
rbquk
Wll if it becomes the next big claim thing then remember where you heard it first and i will only take 10% lol.


Is that at the current rate of inflation? :) ;-)
#9
It seems it NEVER pays to stay loyal with ANY company!
#10
michelleleemoo
Is that at the current rate of inflation? :) ;-)


may do it at 8% seeing as we aint got any money in this country.
#11
rbquk
Wll if it becomes the next big claim thing then remember where you heard it first and i will only take 10% lol.


I did this with my renewal quote from elephant, mine went up form last year and no i hadn't claimed, so went on there website, gave them the details but with the name s my mum and it shot right down. I phoned them about it and told them, they said they will match the quote online.:thumbsup:
#12
Well I've just been told by Norwich Union that if the value of the car is less than £35K it has no bearing on the insurance quote.

Haven't checked anyone else though.
#13
hottoshop
Well I've just been told by Norwich Union that if the value of the car is less than £35K it has no bearing on the insurance quote.

Haven't checked anyone else though.


Bizzare as I have just do exactly the same for a quote online with the car at £10,000 and it was more.
Different strokes for different folks I guess.
#14
mosskeeto
The first rule of motor insurance is never accept a renewal quote without checking. As you have found it often pays.... if you like the way the company works and happy to pay a bit extra for their service then fine but generally we look for the cheapest quote and you do not often get that on renewal...


Second that - but qualify never get that on renewal !! Always shop around even if you like the service because current insurer may choose to meet your best quote rather than loose the business. Be aware too that the internet often does not yeild the beat deal-in my experience a local broker may come up trumpsbecause of a special promotion being offered by a specific insurer thro' his firm or a select list of middlemen at any given time of enquiry. Never underestimate this approach-it has many times in the past yielded many £000's savings for me.
:whistling:
#15
Have you tried Quidco yet? Co-op are doing £75 quid cash back and they beat my next best quote by £40.
#16
Hmmm interesting.
The criteria I gave was...... [COLOR="Blue"]if I have a Car Insurance Policy with you and it comes up for renewal do you adjust for the value of the car or do I have to give you a new value each year ?[/COLOR]

The answer was as I worte above.......[COLOR="blue"] if the value of the car is less than £35K it has no bearing on the insurance quote[/COLOR]
#17
When my annual renewal comes through the first thing I do is get on to a few of the comparison sites & find the cheapest quote that matches my existing one (i.e. excess, things included in the policy etc). I then phone my current company & tell them that I've found a better renewal quote & ask them if they can match it. They always do!
#18
hottoshop
Hmmm interesting.
The criteria I gave was...... [COLOR="Blue"]if I have a Car Insurance Policy with you and it comes up for renewal do you adjust for the value of the car or do I have to give you a new value each year ?[/COLOR]

The answer was as I worte above.......[COLOR="blue"] if the value of the car is less than £35K it has no bearing on the insurance quote[/COLOR]


The biggest cost for insurance companies now is not the damage to your own car, so normal depreciation of the value won't make a big impact as such to the vast majority of companies. Its all the whiplash claims, credit hire charges etc which push everyone's premiums up
#19
Best deal for us was with Tesco - and we god clubcard vouchers as well!

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