Tesco Car Insurance

[ChChing]

Hi

 

I've just received my car insurance renewal from tesco (I've been with them for over 5 years). I've never claimed and have 8 years protected NCD.

 

Anyway, the annual renewal price has shot up to £401, normally I just renew it automatically but this was a massive increase from last year when I just paid £250 (ish). I did change my car in March and it only cost me an extra £19 for the year to do that which was fine.

 

I started to get some online insurance quotes through go compare and was offered a price of £220 from Tesco! Hmmmmm. Anyway I decided to proceed as this was one of the cheaper quotes and included the cover I wanted. When I started to put all my details in etc, I was advised to call the helpline. Anyway, after speaking to them, they've told me that I can't have the cheaper price as it's for new customers!!!

 

Can they really do this???

[edge_of_the_map]

Yup. There is no reward for loyalty any more, and every company I have used is the same. You have to change insurers every year to get the best rates.

 

You are not allowed to try setting up as a new customer. However, if you let them know you are leaving, they may let you speak to their 'customer retention team' however named, who will still not offer you the same rate new customers are getting.

 

Shameful, but there you go. I tell them as I leave that I will not be back until they change the policy...but I guess they make enough money from automatic renewals not to worry about retaining business.

[ChChing]

That's rubbish!

 

They're going to lose a lot of loyal customers. On top of everything they've also stopped giving you clubcard point for car insurance also. Not a major factor, but as Tesco say 'Every Little Helps'!

 

It's a shame as they offered the cheapest quote.

 

Bye Bye Tesco, I'm also moving my weekly shop too!

 

It's so annoying!

[unclebulgaria67]

Hi

 

I've just received my car insurance renewal from tesco (I've been with them for over 5 years). I've never claimed and have 8 years protected NCD.

 

Anyway, the annual renewal price has shot up to £401, normally I just renew it automatically but this was a massive increase from last year when I just paid £250 (ish). I did change my car in March and it only cost me an extra £19 for the year to do that which was fine.

 

I started to get some online insurance quotes through go compare and was offered a price of £220 from Tesco! Hmmmmm. Anyway I decided to proceed as this was one of the cheaper quotes and included the cover I wanted. When I started to put all my details in etc, I was advised to call the helpline. Anyway, after speaking to them, they've told me that I can't have the cheaper price as it's for new customers!!!

 

Can they really do this???

 

No they cannnot do that. Anyway all you need to do is lapse the current Tesco policy from renewal by calling them and then phone up later to take up the cheaper new policy.

 

What has happened in regard to your renewal premium is that originally you had a Tesco policy via RBS Insurance. A few years back Tesco started up their own Insurance administration with a panel of Insurers. When your policy was migrated over, they kept the premium down. This year they have applied existing panel Insurer rates, without any discounting. Most new policies have a discount applied, which is not available to existing policyholders.

[ChChing]

If I lapse the current policy (which ends midnight on Sept 30th), I'm going to be without insurance though?

 

I need to get a new policy in place by 12.01 on 1st October.

[unclebulgaria67]

If I lapse the current policy (which ends midnight on Sept 30th), I'm going to be without insurance though?

 

I need to get a new policy in place by 12.01 on 1st October.

 

No. This is exactly the same as any other year you swap your Insurance over. One policy lapses at midnight the day before renewal and you start up the new policy from the date of renewal.

 

So if your renewal date is 1/10/13, you just start up the new policy from that date and ask them to cancel the existing policy from renewal.

[ChChing]

Good news, I've just phoned them back and 'kicked off'!

 

They've now decided to match the online quote. No clubcard points though.

 

All's well that ends well!

 

Still moving to Sainsbury's though!