Here's a strange one (insurance)

[Heddy]

Just got my renewal (Tesco Bank) £244 with £100 compulsory excess and £250 voluntary excess.
Go compare shows £197 (Tesco Bank) same excess as above.
So I start playing around with the voluntary excess and getting re quotes from Tesco Bank.
Final figure
Tesco Bank £100 compulsory excess and £0 voluntary excess
Still £197
So, after 10 mins online I can reduce my premium by almost £50 and reduce my voluntary excess by £250, and stay with the same company, with the same level of cover.

[stevestrat]

Nothing strange, standard insurance practice. Lower premium to tempt new business at the expense of existing customers.

[Dorset Bob]

Hopefully the investigation from the FCA will address the problems of the inflation of renewal prices for long-standing customers.

https://www.honestjohn.co.uk/news/in...20full%20story

It is a pain to have to shop around every year, because of this crooked practice

[tourer]

Originally Posted by Heddy

Just got my renewal (Tesco Bank) £244 with £100 compulsory excess and £250 voluntary excess.
Go compare shows £197 (Tesco Bank) same excess as above.
So I start playing around with the voluntary excess and getting re quotes from Tesco Bank.
Final figure
Tesco Bank £100 compulsory excess and £0 voluntary excess
Still £197
So, after 10 mins online I can reduce my premium by almost £50 and reduce my voluntary excess by £250, and stay with the same company, with the same level of cover.

Have you tried to renew insurance with Tesco using the comparison site?
I had similar with Saga but when I tried to renew using the comparison site, I wasn't allowed to because I was already existing customer. Had to telephone them and negotiate a better deal.

[Darcydog]

Originally Posted by tourer

Have you tried to renew insurance with Tesco using the comparison site?
I had similar with Saga but when I tried to renew using the comparison site, I wasn't allowed to because I was already existing customer. Had to telephone them and negotiate a better deal.

Comparison Sites charge the providers a huge fee to be listed - far more per policy issued than any fee/commission earned by a broker.

So many companies only use these comparison sites for the initial sale. They don’t want you to renew with them via the comparison site as it means they have to pay them again!

So not surprising that Tescos won’t let you do it.

My advice would be to find a good local independent broker. Cheaper and far better service.

[Heddy]

The better deal is with Go Compare, as far as I can see there's nothing to stop me accepting it. What I hate, is the fact that.....'you don't have to do anything, your policy will automatically renew and the premium will be taken from your account'.