Insurance renewal beware v.2

For the second time in a month an insurance company has tried to rip me off with its auto renewal notice.  Hundreds of thousands of other drivers are likely to be at risk of being caught out.
Now that car owners have to insure a vehicle whether it is used or not, unless they provide a statutory declaration that it is off the road and will not be driven, the motor insurance companies provide the helpful service of auto renewal to make sure none of us fall foul of the law.

Insurers take the opportunity to rip us off

The only problem is that the insurers take the insurance renewal as an opportunity to hike the premiums and do not tell the policyholder what they paid the previous year in the renewal notice making it difficult to compare.  In my case  the motor insurance premium had been inflated by 12.1% or £30.74.
The call centre worker for the company was in a strop when I called and said that underwriters set motor insurance premiums depending on claims in the area you live and the type of car you drive.  He said it was up to me whether I chose to insure with another company.

Do not weaken

But I did not weaken – even though I did not want the hassle of checking the market for a cheaper policy.  –  Fortunately he blinked first.  He said he would check whether there was any leeway on the premium and a minute later offered a £50.88 reduction.   It was cheaper than the cost for this year.

Expect an insurance reduction

The motor insurance industry has reported that last winter’s weather was mild it had fewer claims that were less expensive.  This means that premiums should not increase unless your circumstances have changed or you have made a claim.  Check the price put on the insurance renewal against last year’s premium and allow time to check premiums on insurance comparison sites.