Friday, June 20, 2014

THE SEASON OF INSURANCE

Tis the season of insurances.  My renewal premium for 2014 increased by 20%....this is definitely not on!

Viking Marauders
Three years ago, I discovered it was possible to insure direct with the insurers, instead of through intermediaries.   We could get the same package at a very significant saving in our annual premiums.

Meg
Last year I received a renewal notice from the insurers, and being me, I decided to apply as a new customer.  The premium was a little lower than my quote, not by a lot, but, I reckoned the difference was better in my pocket than anyone else's.
Happy Bee
The guy I spoke to was puzzled, he said that the difference in the premiums should not have happened and said that his company did not do special deals for new customers.  After careful checks and enquiries, it transpired the different premium was the result of a percentage decrease in insurers costs, which was applied to new policies. The decrease had not been factored in for current customers! To gain the benefit, I had to have a new policy and number.  So, that's what I did.
Youngsters Claiming The Roof
This year, the insurers are advertising half price legal fees to new customers.  If that is not an inducement to gain new business, what is it?  One thing is for sure, I am not paying for it. 

Headless
So, here I am again, presenting online as a new customer. The quotation was very much cheaper  for  the same policy.  I was offered a reduction of 16%. The premium increase will still be 4% up on last year's premium, (higher than inflation).   

Inertia in moving, in making changes, inertia to challenge, are the friends of business, they profit from it.  

Driftwood


 The pictures can be enlarged by clicking on them.

9 comments:

flightplot said...

As you say they rely on customer inertia to charge as they do. I always shop around regardless of what they're quoting this time round, and have often then phoned and got a better deal. Most people I know, myself included, have as little respect for insurance companies as we do banks. Not surprising really considering how they tend to treat existing customers.
I like the pictures, especially the one of Meg who's a fine looking dog. Flighty xx

flightplot said...

As you say they rely on customer inertia to charge as they do. I always shop around regardless of what they're quoting this time round, and have often then phoned and got a better deal. Most people I know, myself included, have as little respect for insurance companies as we do banks. Not surprising really considering how they tend to treat existing customers.
I like the pictures, especially the one of Meg who's a fine looking dog. Flighty xx

godschool said...

Those are excellent photos. How true, that utilities trade on customer inertia. Well done on not only playing them at their own game, but winning.

thehumanpicture said...

How good that you were able to beat them at their game.

ZACL said...

Hello Mr F,

I shall probably do the same as you, as this package gives just what we want. I'll decline the renewal quotation that's for sure. Best offers are meant to be online, you really do have to be confident and competent to handle transaction both on and offline.

Meg was a friend's dog, I met her as a small pup. She was delightful in every way and quite a character. She lived to be 13 years old.

ZACL said...

Hi Gilly,

Thanks for the compliment about the photos and my efforts to keep utility expenses down. It's much appreciated.

It has become quite a performance keeping ahead. Is it a young person's game do you think?

ZACL said...

Good Morning Shimon!

Thank you for your comment.

Let's hope body and spirit remain sufficiently energetic to maintain my position.

Snowbird said...

You are quite right about inertia, changing can be fraught with difficulty and so time consuming!
What fantastic pics, I did enjoy them, especially the Vikings, pretty Meg and the chicks on the roof!xxx

ZACL said...

Hi Snowbird,

Glad you enjoyed the pics and thank you. Meg, a friend's dog, was super, a really delightful character. I have a few smashing pics of her. She always made me smile and she still does when I look at the photos.

And yes... the time consumed in sorting and deciding is a pain!