Insurance renewal 'arrangement fee'.

[john.wigley]

I received my insurance renewal documentation today and am a little miffed to find that it includes a 'renewal arrangement fee' of £25. Nothing has changed from last year; it is an automatic renewal using a credit card for which they already have the details.

If anything had changed, such a 'fee' might possibly be justified, but in the circumstances I think it is a bit much! It's effectively a surcharge of over 8pc on my renewal premium. Do you agree, or am I just being a grumpy old git?

Regards. John.

[PJordan]

It seems very unreasonable. See if you can get comparison quotes online and if so then walk away - don't renew!

[Clan]

Originally Posted by john.wigley

I received my insurance renewal documentation today and am a little miffed to find that it includes a 'renewal arrangement fee' of £25. Nothing has changed from last year; it is an automatic renewal using a credit card for which they already have the details.

If anything had changed, such a 'fee' might possibly be justified, but in the circumstances I think it is a bit much! It's effectively a surcharge of over 8pc on my renewal premium. Do you agree, or am I just being a grumpy old git?

Regards. John.

yes time to move on AND save money hopefully ..

[S60D5-185]

I have no loyalty whatsoever with any form of Insurance whether it be House, Bike or Car.

The Internet is a powerful tool and 10 minutes spent can invariably return much lower quotes that a renewal premium.


Armed with that the existing insurer either matches or beats it otherwise simply take your business elsewhere.


many companies rely on either customer laziness or a false sense of loyalty both of which should be avoided when dealing with your hard earned cash.:teeth

I insure my bikes with Carole Nash because their cover includes UK and European breakdown cover which is essential for me.

The last 2 years they have imposed a £48 broker fee in the renewal and both times I have been able to not only have that removed but a further reduction in the premium by doing the aforementioned.

[john.wigley]

Thank you for the comments / advice; it has confirmed my own thinking.

However, I turn 70 next birthday, and have also received advice to the effect that it is not a good idea to switch companies as one ages. The company that I am currently insured with does have a generally good name with older drivers, but the 'renewal arrangement fee' is annoying. I'll give the matter some more thought.

Regards, John.

[ITSv40]

John,

Never put insurance or anything like it on automatic renewal - it is a licence to print money, they rely on folks inertia to accept the renewal without checking . Do an online comparison every year to make sure the quote you have is competitive. There is no need to change insurers every year, but the comparison is useful to know whether you are getting value for money or potentially ripped off.

[green van man]

If your good name with older motorists is SAGA, I found them a waste of time and very expensive.

I have renewed both my motoring policies with current insurers but their prices were competative and cheaper than last year.

Home insurance I have a limited market as many will not cover the clean up costs of an oil spill. Having oil heating 1400 litres can make an expensive mess. I can easily beat the renewal if I want to ride shotgun on the oil clean up, but if environmental agency get involved the bill spirals with specialist hauliers and contaminated waste and God help you if it gets into a water course.

I have canceled insurance and then re applied as a new customer to save a considerable amount.

Paul.

[ksmi]

Evening John, Give L&V a try,don't worry about your age,you are only a wipper snapper compared with yours truly! I suggest you do a search through 'Money Supermarket' and/or 'Money Saving Expert' if you want to save even more? do your insurance arrangement through a Cash back site.Such as 'Topcashback' I know you have several motors,is it the Volvo? I have heard Tesco insurance like Volvo's,and this is reflected in their premiums. Good hunting.

Regards,Keith.

[Considered1]

If someone dealing with providing me their most competitive premium needs to be paid as they have re-invested or scrapped the commission then I would prefer this to the commission only route, trouble with insurance is finding folks you can trust!

[Clan]

Originally Posted by john.wigley

Thank you for the comments / advice; it has confirmed my own thinking.

However, I turn 70 next birthday, and have also received advice to the effect that it is not a good idea to switch companies as one ages. The company that I am currently insured with does have a generally good name with older drivers, but the 'renewal arrangement fee' is annoying. I'll give the matter some more thought.

Regards, John.

In recent years I had to take over dad's affairs , His insurance on his 343 was £550 , he had been with them for many years , I went on the comparison site and saved him £350 Yes Three Hundred and Fifty Pounds … I cancelled the RAC membership , breakdown cover was in with the insurance . Another £100+ saved I got a water meter installed and saved him £450 Yes Four hundred and Fifty Pounds ... House Insurance the same . From £500 down to LESS THAN £200 …. That is £1100 too much a year he had been paying ..

You have to do it … just get some quotes you have time to think about it and choose . I have learned there is no sentiment whatsoever in business …
In most cases the insurance company you deal with does nothing whatsoever if you have a claim they just pass you over to one of the many companies they chose to insure you with and wipe their hands of you .