It's for New Customers Only.

  spuds 11:34 06 Sep 2006

Why is it nowadays that loyalty to a company never seems to pay. We even have a television advert making zest of this very thing.

Every year, thousands, no possibly millions of people have their renewal reminders for various insurances or services, and in every case the requested premium as increased 'due to rising costs'. Yet to save on these increasing costs, the simple solution is to cancel the agreement for whatever it is for, and re-apply to the same company or one of the competitors.

Only recently, I changed all my insurance policies to other companies, and the saving were quite astronomical. It wasn't a case of saving a few pence but many, many pounds. And most of the policy or service changes offered better conditions and terms.When the renewal notices start appearing again, I for one will no doubt be moving to another 'make me happy' agreement or policy arrangement.

The same thing applies to credit card companies, who seem to offer all new customers, 0% interest charges and special encouragement terms. Yet these same companies seem to try and squeeze the last penny out of their existing customer base.

Is it sheer complacency or greed that as overtaken commerce or stupidity of the fare paying public!.

  freaky 12:28 06 Sep 2006

A lot of these offers are a "sprat to catch a mackerel". Once the renewals appear after the 1st year - then the cost/or charges increase dramatically.

  spuds 12:57 06 Sep 2006

freaky--hence the title and my comments ;o)

  rezeeg 13:06 06 Sep 2006

spuds my annual travel insurance was due for renewal 1 July but I didn't want it to start until 1 August.

I was told I had to cancel and renew, which I did and the new, identical policy (with the same company) was £20 cheaper than my renewal quote.

  wiz-king 13:23 06 Sep 2006

The insurance companies are good at putting up the annual premiums but they don't always tell you that what they will payout goes down each year as the book value of your car goes down. It is best to get new quotes every year even if you are going to stick with the same company.

  DrScott 14:45 06 Sep 2006

around £100 off my car insurance by setting up a new policy with the same company online. Surprisingly, I phoned up the renewal line and they said they couldn't match the offer - so I got a new policy under Mr rather than Dr. Bizarre.

This year the same trick would have saved about £5 so I didn't bother...

  pj123 15:26 06 Sep 2006

No savings anywhere for me I'm afraid. My car is insured "fully comprehensive", "any driver".

I keep getting bombarded with leaflets, emails etc giving 30, 40 50 percent cheaper cover but when I apply they don't do any driver. They want to know the name of the "other" drivers.

When I ask them "What does ANY DRIVER mean" they don't seem able to understand. So I stay with the company I am with and put up with all the increases yearly.

  johndrew 16:52 06 Sep 2006

Quite a bit like `protected no claims`. They wont change the discount percentage in the event of an accident but the premium will rise significantly to take account of it.

Insurance is typified by the advertisement on TV; `It doesn`t work like that!!!!`.

Most companies rely on inertia for customers not to switch when incentives offered to new customers are not passed on to existing ones.

  Les T 20:14 06 Sep 2006

Had BT broadband (option 3) for over a year. Saw the advert for Total Broadband and thought 'that looks ok, what with a wireless hub and a free hub phone'. So i phone and guess what? The free hub phone is only available to "New customers only".

  amateurann 20:23 06 Sep 2006

I am a confirmed policy hopper. Every year for every insurance renewal I always for a better quote. However it is important that you are getting like for like in cover. I also check regularly for better deals for my meagre savings and credit cards. When you consider the millions these companies are making every year at our expense I think we are entitled to the best value for money. I don't consider myself mean or stingy just careful and I will pay more for a quality product.

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