My insurance renewal is coming up and I was pleasantly surprised to find that my quote vs last year had quite literally halved. Yes, you read that right, halved. I'm rather curious to know why this is - I've been driving for 19 years, 11 years NC, no convictions, and the same car, mileage, address and occupation. I checked to see if there was some mistake, like changing comprehensive to a lower level of cover, or removal of an optional extra; but no, literally a straight renewal. The only clue was the mention of 'in line with the latest regulations' so I wonder if there has been some crackdown on price gouging, or else insurers are no longer spooked by the prospect of supply chain issues?
Siimo
Joined
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236 Posts
Maybe long time customers have got fed up with the hikes and found someone else. I had been with LV with my ICE for a long time and then with my EV for three years and then they hiked the price unexpectedly so I walked off to Darwin. I went back to have a discussion with LV about the Darwin quote and they were prepared to come down a bit but not that much. So they've lost a long term customer who didn't make any claims. Perhaps customers walking is hitting their bottom line but I don't know that for sure. Good to hear that some sense is coming back.
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