Insurance time again.

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Paul-R
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Re: Insurance time again.

Unread post by Paul-R »

It's well known that 21 days before renewal date is the optimum time to search for alternative quotes. Martin Lewis's Money Savings Expert people did extensive tests on a various number of days before renewal date to confirm this.
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NewcastleFalcon
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Re: Insurance time again.

Unread post by NewcastleFalcon »

Paul-R wrote: 24 Sep 2024, 10:19 It's well known that 21 days before renewal date is the optimum time to search for alternative quotes. Martin Lewis's Money Savings Expert people did extensive tests on a various number of days before renewal date to confirm this.
Proof of the pudding was in the eating on this occasion Paul. Maybe in 2024 the emphasis has shifted because that 21 days thing is probably pretty well known now. The comparison sites recently at that 21 day mark for me didn't come up with anything cheaper enough to change.

You loose nothing by consulting the comparison sites before that 21 day mark. Most renewals just go in one direction ie up as was proved to be the case with the Clio Policy.

An enquiry a week before the renewal arrived came up with a quote of £190 (Santander). The renewal quote was never going to match that and as stated went from £230 to £290.

All I can say is that it worked on that occasion. You loose nothing by trying.

I'm not sure if 30 days before expiry is the earliest date in the general insurance market will give you a firm quote for the next year's insurance.

Neil
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bobins
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Re: Insurance time again.

Unread post by bobins »

^^^^^^^^^
Lewis's website gives numerous details on how to trim down the cost of insurance renewals legitimately........ and also how not to - like putting yourself down as the main driver when you're not !
I think the optimum time might be slightly longer than 21 days, and some insurers now only hold their quotes for hours, not days :(
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GiveMeABreak
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Re: Insurance time again.

Unread post by GiveMeABreak »

You can't get renewal quotes more than about a month from when the new policy is to start, so this is the time to start your trawl. The nearer you get to the intended policy commencement date the more they rip you off and start loading it - especially in the last few weeks, but certainly the last week or last few days before you need the policy to start.

I have 2-3 comparison site accounts - all complete with my details, so a little pain setting everything up initially, once done, you can more or less forget about it. I just adjust the policy commencement dates and any changes if relevant.

I no longer bother going to Direct Line, Churchill or any other rip off 'you won't find us on any comparison site companies', as past history wasting hours of my life going through all the rigmarole with each one of those has shown them to be anything from 30% to double the renewals of the comparison sites.

Occasionally, I may dip my toe in the water with one of them just to check and always find I was right to ignore them.

Some members seem to be happy using the above mentioned, so all I can conclude is it's down to area and personal circumstances, but all things being equal on a like for like basis, I've always found the best deals on the comparison sites, and using 3 of them seems to cover all the bases.

And just to prove a point loyalty is no longer a consideration, I often find a new quote from the same insurance company I'm with on the comparison site, generally always beats my renewal price from the same company....

Rewards offered by some are no real incentive - I have free coffee every month from Confused.com, but rarely use it, but sometimes a Halfrauds voucher may be useful for some cleaning products or money off a Karcher accessory is worth having. But if truth be told, it would be better to dump the offers and get that off the insurance quote!
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Paul-R
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Re: Insurance time again.

Unread post by Paul-R »

NewcastleFalcon wrote: 24 Sep 2024, 10:38You loose nothing by consulting the comparison sites before that 21 day mark.
I don't believe that is the case Neil. IIRC the graph of price quotes against time was basically a bathtub curve. Going earlier than 21 days gave rapidly increasing quotation prices whilst going later was met by slowly rising prices which eventually became steeper the closer to the renewal date you get.

I have also had no luck with the firms that aren't on comparison sites. Saga have quoted me very highly compared to the, err, comparison sites even making allowances for some of the things they include as standard such as driving overseas. I seldom even try now.

I have also found that the comparison sites can offer quotes from the same company that are cheaper than they are offering as a renewal. Ridiculous.
As I get older I think a lot about the hereafter - I go into a room and then wonder what I'm here after.

Inside every old person is a young person wondering what the hell happened.

"Trying is the first step towards failure" ~ Homer J Simpson​
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NewcastleFalcon
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Re: Insurance time again.

Unread post by NewcastleFalcon »

You find the "not sure what they are" BISL being behind many of the high street names offering insurance. They are the providers/administrators of the Santander offering, and if I recall right other insurances I have had with the likes of Halifax.

BISL manage and arrange both the RAC branded insurance (the £290 renewal previous Clio Policy), and Santander Insurance (the £190 New Clio Insurance Policy)

Neil
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bobins
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Re: Insurance time again.

Unread post by bobins »

This from Moneysavingexpert (Martin Lewis):
When best to renew car insurance - Moneysavingexpert
When best to renew car insurance - Moneysavingexpert
Also:
Car insurance - Moneysavingexpert
Car insurance - Moneysavingexpert
https://www.moneysavingexpert.com/insur ... -to-renew/
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GiveMeABreak
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Re: Insurance time again.

Unread post by GiveMeABreak »

Any excuse to wheedle a few more £ out of us.
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Marc