Auto insurance price hikes to be banned

[MorrisJohn]

No doubt many of you will have seen that the automatic increases in insurance premiums, if you remain loyal to one company, are to be banned.

Personally I welcome this news, having just got my renewal through with a 50% price increase! (Obviously I won’t accept the quote).

https://www.autoexpress.co.uk/news/105 ... g-outlawed

[les]

Not until January, so they will probably make hay while the sun shines.

[MorrisJohn]

Not until January, so they will probably make hay while the sun shines.

Yes, you’re probably right. I just rang up my insurer there and after a few minutes the price was down £70 on the renewal price. Cheaper than last year!

[Myrtles Man]

Although it sounds, on the face of it, like an unqualified Good Thing, Moneysavingexpert warns that it's likely to lead to a 'levelling up' of premiums as insurance companies will no longer be able to attract lots of new business via price-comparison websites, sort of 'Heads they win, tails we lose'.

[Des911]

Not until January, so they will probably make hay while the sun shines.

Yes, you’re probably right. I just rang up my insurer there and after a few minutes the price was down £70 on the renewal price. Cheaper than last year!

£70 cheaper, they'll be paying me for having one soon

[MorrisJohn]

Not until January, so they will probably make hay while the sun shines.

Yes, you’re probably right. I just rang up my insurer there and after a few minutes the price was down £70 on the renewal price. Cheaper than last year!

£70 cheaper, they'll be paying me for having one soon

haha.

Anyone with Lancaster Insurance should be aware they automatically add on an arrangers fee of £49.50 with renewals. When you consider the average cost of Minor insurance it’s quite a hike. If you call them up to query the price rise the fee is waived. I guess other brokers do the same.

[geoberni]

Anyone with Lancaster Insurance should be aware they automatically add on an arrangers fee of £49.50 with renewals. When you consider the average cost of Minor insurance it’s quite a hike. If you call them up to query the price rise the fee is waived. I guess other brokers do the same.

That's a good tip.
I used them for my 1st year on Basil, then I dropped them because of their price structure, including the arrangement fee. I wasn't aware it was so easy to have it waived, but equally, I don't see why I should have to challenge them on their pricing, I just moved and "Stuff 'em"...

[les]

This arrangement fee, I don’t get it. Maybe I’m missing something, I thought their money came from a percentage from the company they get business for. The ‘arrangement’ is the job, they arrange insurance. Seems they want it both ways. It’s like a builder giving a price for a job, and adding more for using his tools.

[geoberni]

This arrangement fee, I don’t get it. Maybe I’m missing something, I thought their money came from a percentage from the company they get business for. The ‘arrangement’ is the job, they arrange insurance. Seems they want it both ways. It’s like a builder giving a price for a job, and adding more for using his tools.

Yep....

[jagnut66]

There used to be a member on here that worked for Footman James, I wonder if he's still a member and reading this??
If not, perhaps it should be brought to his attention, so he can give us the FJ official line.....
Just going to check my remewal paperwork now to see if I have been charged one.
You are right though, these things shouldn't be on there in the first place.
And we shouldn't have to be looking for them and then paying for a phone call to challenge it!
Loyalty should be rewarded with discounts, not penalised with higher premiums!
Best wishes,
Mike.

[les]

I think his name was Dave, not that it helps much !

[MorrisJohn]

...these things shouldn't be on there in the first place.
And we shouldn't have to be looking for them and then paying for a phone call to challenge it!
Loyalty should be rewarded with discounts, not penalised with higher premiums!
Best wishes,
Mike.

You are totally right Mike. Good luck checking yours.

[Admin]

To be honest, I don't think classic insurers are the real villians in this instance. I mean yes, I've no doubt it occurs, but I think 'mainstream' insurance is the big boy in this scam.