UKC

We've got a multi-cover insurance with Admiral for Home Insurance and two vehicles.

I had a renewal reminder this morning with a quote about £75 more than last year. As one does nowadays I phoned to say that I thought the increase was a bit steep. The agent took me through all the details about both the home insurance and the vehicles. I confirmed that no details had changed and neither had our personal details.

Lo and behold up came a revised figure nearly £20  LESS than last year's premium!

Why they couldn't have given me that figure in the renewal reminder remains a mystery to me. I presume that most people nowadays renegotiate their renewal premiums so the companies could surely save a lot of resources by quoting the lower figure in the first place.

The fact it still exists is proof that this isn’t the case.

Currently, companies offer new customer premiums that are lower than renewal premiums because enough people take the renewal premium that the more profitable renewal premium can be used to cross-subsidise the less profitable new customer quotes. As/when everyone shops around, one set will rise and the other fall until they meet in the middle.

Your presumption is simply totally incorrect as AJM says.

just because YOU do something and believe it to be sensible, obvious and ubiquitous , it doesn’t mean that it IS ubiquitous 

Question: Why do you feel it necessary to trawl UKC and make somewhat pompous 'observations' about Posts that you obviously deem worthy of a Blue Straggler input?

Why do you assume I “trawl” UKC? I don’t 

why do you assume I “deem” some posts “worthy” of a contribution? 

Why is my post on this thread deemed pompous when your presumption ignored AJM’s earlier post (and I didn’t comment that you seemed pompous both in ignoring that post and in your presumtiousness)?

I've been quoted roughly £300 more than last year's premium! It's because they can. It happens the same with broadband, mobile and many other things. It's a common practice, as much as I hate to admit it. 

It's worth punching the details in on one of the comparison websites - I will be calling up Admiral to cancel the renewal.