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Old 01-11-2005, 01:21 AM   #1 (permalink)
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OT: greedy insurance companies

Here's one reason why insurance companies are so rich...
I have been with the same car insurance company for a number of years now, mainly cause they offer a reasonable service. My policy is due for renewal this month, and as always they send me a reminder and tell me how much its going up by. Well, this year everything else has gone up by too much, so i need to cut back financially, so decided to hunt around for cheaper car insurance. Did the usual thing, get on-line quotes. Most companies were cheaper, but some didn't offer foreign driving, some didn't allow LHD cars etc. Just for a laugh, I decided to get a quote from my existing insurance company. AM I GLAD I DID! typed in all my details, and the quote was £400 cheaper than what they wanted to charge me ($600 roughly). So i immediatly called them and asked why they were charging me, a loyal customer, £950 and not £550 as the internet quotes. They gave some bull about getting a reduction for on-line booking, and an incentive to get new customers. Well what about looking after existing customers. Maybe they will loose a few if they find out. Anyway, I cancelled my policy with the company, went back online and set up a new policy and almost halved my premium in a few keystrokes. Damn greedy insurance companies may they all rot in hell.
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Old 01-11-2005, 01:23 AM   #2 (permalink)
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RE: OT: greedy insurance companies

Oh yeah, another scam... one company i called wanted to charge me an extra £175 because someone crahed into me... even though I made no claim and was not at fault for the accident I get charged extra. I'm working in the wrong business !!
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Old 01-11-2005, 12:43 PM   #3 (permalink)
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I used to use an insurance agent to shop for the lowest quote. They told me the first-time customer usually get an automatic 40% discount as a way to lure new ones. It is in the US, I am not sure the same goes in Europe.
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Old 01-11-2005, 03:02 PM   #4 (permalink)
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RE: OT: greedy insurance companies

$11.00 at the rental car place lets you really screw up your rental and not have a worry in the world...... not that I would ever romp a rental car.


*cough*

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Old 01-12-2005, 01:46 AM   #5 (permalink)
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Tangent,
same approach in europe !! screw your existing customers, just worry about the new ones !
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Old 01-12-2005, 08:53 AM   #6 (permalink)
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RE: OT: greedy insurance companies

Sounds like the money you saved by going direct (via online) with the company was roughly the equivalent of the agent's commission.

Only downside is if you find you need the agent's advice for some (now unforseen) situation in the future.
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