Price, price price price price price
Yup, so loyal
Price, price price price price price
Yup, so loyal
Yeah but to be fair Arry, no one switches for a couple of quid difference. It's usually drastic differences.
Merry Christmas too
Like all Insurance Brokers, Adrian Flux do not have access to every Insurance Company. We offer the best rate we have available from our panel of Insurers. We will always to endevour to compete with a cheaper rate when presented with one as we are not aware our rate is not competitive until a Client advises us.
Finding good car insurance is a complex and unsatisfying experience for most of us.
Brokers claim to be able to find the best insurance for the customer yet many seem to sell purely on price and then (and for me this is the important bit) send the customer off to find the best price. I think this is poor practice.
Personally, I look at the overall coverage and the reputation of the insurer and try to get the best value for money I can.
The last policy I took out, I managed to get fully comp insurance with declared mods and glass cover for the lowest price with quite a high limited mileage and cheap mid-term amendment admin fees so I was happy across the board. It doesn't generate NCD but I accepted that. I would have accepted the loss of some (but not all) of the other benefits if someone had offered me a cheaper premium but they didn't.
Insurance companies are no worse than double glazing salesmen IMO ... For some reason you need to go through an annoying dance of bartering to get the price down.
In th Same way a window starts at £3000000 but ends up £500 after "discount Monday" pay now for £2000000 off, smile for another £50 off ... Insuance renewal time is becoming the same
I think Steve's point is that the if the insurer can afford to price match (sometimes without any real proof of a lower price) then the customer recognises that the best price for that cover that that insurer could have offered wasn't actually quoted. And that's pretty demoralising.
It would drive me away every time.
But I'll reiterate my point - 8 million people don't shop around for insurance.
If you can make a few hundred quid extra off each one of those people, who wouldn't!?
Yea it's shite, but it's the industry, and it's merely milking stupid people. Yea it throws loyalty out the window, but who cares.
I think most customers of any company would like to feel that the service provider cared. Providing a quote, assuring the customer that it is absolutely the best available and then hacking chunks off it without questioning is not the way to do it.
That's the main thing, it's the fact they tell you in writing 'the best deal for you' or 'your current insurer is competitive' without even checking. Don't blatantly lie to me and it wouldn't be as bad.
I've had renewals through previously and after playing the usual game finding cheaper elsewhere the current insurers then offering to match. The P take was in that instance the other broker was matching me to the same insurer that I was with!
You do realise we would all be paying more if every quote was the absolute lowest possible, yes? The fact that you can save a large amount of money for very little because most people dont bother is a good thing, no?
I mean, pretty annoying you can save £500 by making a phone call and all .........
Originally Posted by scimmy benOriginally Posted by sprout
It's bulk volume play - you are not an individual, because you don't want to pay for individually tailored service. The broker knows you're going to go off and get 15 other quotes anyway, as everyone does. To re-broke every client at the outset is incredibly time consuming and labour intensive and customer price sensitivity has led to automation and non intervention being the only cost effective method of transacting business.
In essence, the customer has driven down the margins to such an extent that it's now impossible to provide the kind of service that they expect - because the customer doesn't value it enough to maintain loyalty of any description.
...except for the 8 million lazy folk that just blindly accept their renewal premium.
I don't think the industry helps themselves though as there is no product standardisation or clarity over pricing.
I'm not saying it would be easy but if people could see where the cost breakdown came for their premium, it might make it easier to understand what people are getting for their money. Most people don't even realise that very little of the cost lies in the value of the car you have.
Showing a proportional breakdown by 3rd party injury, personal injury, own vehicle damage, windscreen, admin, claims admin and payments into schemes like MIB and MID might make people realise what they are getting for their money.
Very few customers that will auto - renew with not even a check on whether competitive nowadays Jonny; not even in the commercial world.
Can't standardise anything like wordings as a) it's one aspect of competitive edge (and indeed, sadly, a dying one, as people don't understand the differences in product nor do they bother to even read them) and b) therefore, competition law applies. As for pricing - it's not clear because even those working in the industry don't believe in it unless you're an actuary - underwriters don't like pricing, pricing don't like underwriters .
Last part - totally agreed; but then since most people can't even be bothered to read their insurance schedule to check if correct, let alone read their wording - or even the Key Facts document ffs - how much chance have you got in interesting them enough to GAF? People just like to whine about insurance - it's the necessary evil and all that shite.
Years ago you see, you'd go to a good high street broker and he'd look after your household, travel, private motor, business insurance etc and you'd just let him deal with it all and earn his commission.... Shame no-one values that sort of thing any more really
You're probably right, sadly.
I was looking for professional indemnity insurance last month and got 2 quotes (there aren't that many co.s doing it).
One was £150 the other was £540.
It took me almost 2 hours to check everything on the two policies to make sure there was no material difference (mostly because I was sure there would be).
I took the cheaper one and got a call from the expensive one the following week offering to price match
I just told them to FRO
On the plus side, I do understand PI cover better now
I think that's largely because people didn't have the ability to DIY as easily as now. Back then, with no confused.com, and a bunch of companies asking you lots of awkward questions, the easiest option was the broker on the high street now, though, it's far from the easiest option. Confused.com saves your details (much like the high street broker), you change 2 details and 19 seconds later you have a price £100 better than the renewal that's dropped on the doormat.
I know you're defending the loyalty thing mate, and I don't blame you but I don't know anyone who'd take the cold and wet walk to Bob down the road and give him 3.5% of an over-inflated premium, when it can be sorted in 19 seconds in the warm.
You're right, people don't read things - they aren't interested. Insurance now costs SO much that the only thing that matters is cost. I agree that this is an issue, but a £300 difference sadly outweighs the lack of windscreen cover or putting a turkey on Bob's table for xmas.