To continue from the previous page. After many weeks the insurance company telephoned me for a chat (30 minutes) and have now responded in writing.
They take the position that their renewal quote was correct “at the time it was produced” and there was nothing wrong with their process.
They justify the level of price difference because when I asked for a new quote on the quotation portal I was treated as a “new customer” and therefore qualified for their “new customer discount”.
It looks like the New Customer Discount is therefore 42%. Or expressed slightly differently “the exiting customer rip-
They accept that they will review the marketing messages that state that this is the “best price” etc. They also justify the inflated renewal quotes as this is “what all the insurers are doing”. They also sent me £10 towards my costs and thanked me for bringing this to their attention.
The complaint has now been passed to Financial Services Ombudsman. In my view there are faults at my previous insurer and there are systemic market faults that are to the detriment of customers. The key issues raised with the Ombudsmen are:-
In the meantime, NEVER, NEVER allow any insurance to auto-
By Geoff James
Updated 23/1/16
House (and other) Insurance Renewals
Cont...
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