Common practice for insurers

New customer discounts to get policyholders and then they hope that the lapse rate (those that don't renew) will be low enough to justify the strategy.

The underlying risk (eg you and your car) hasn't changed, just their pricing algorithms :)

Posted By: essexcanaryOTBC on April 10th 2016 at 21:14:11

Message Thread

Car insurance question (General Chat) - APB, Apr 10, 18:13:25
- Common practice for insurers (General Chat) - essexcanaryOTBC, Apr 10, 21:14:11
- My partner had a similar thing with her house insurance (Nationwide) (General Chat) - CB41, Apr 10, 20:09:47
- Pet insurance did the same for the Fenton (General Chat) - CauldRon, Apr 10, 20:05:13
- Don't forget Gideon increased Insurance Premium Tax to 9.5% for this year (General Chat) - South_West_Canary, Apr 10, 18:45:16
  - So why is the online quote virtually unchanged? (General Chat) - APB, Apr 10, 18:48:49
    - Online aggregator sites add huge competitive pressures on prices (General Chat) - essexcanaryOTBC, Apr 10, 21:15:18
    - Is it because insurance companies are among the most vile and unprincipled? (General Chat) - Worzel Scrimmage, Apr 10, 18:54:22
      - It may be that. (n/m) (General Chat) - APB, Apr 10, 19:21:41
    - Maybe they're absorbing the IPT increase for online (General Chat) - South_West_Canary, Apr 10, 18:54:20
- All companies do it! (General Chat) - archroy, Apr 10, 18:23:17
  - Yep, happens to me every year. (General Chat) - emmaroyds, Apr 10, 18:44:15
  - Don't rant too much, not the person on the other end of the blower's fault. (n/m) (General Chat) - harry boulders, Apr 10, 18:27:10
    - no its not there fault (General Chat) - ghostof barry butler, Apr 10, 20:27:07
    - I'm never rude to human beings. (n/m) (General Chat) - APB, Apr 10, 18:46:15
  - or, simply drive around with no insurance (General Chat) - Tombs, Apr 10, 18:27:03
    - This is actually illegal by the way (n/m) (General Chat) - essexcanaryOTBC, Apr 10, 21:15:55
  - That's what I was going to do. (General Chat) - APB, Apr 10, 18:25:01
- Yes they are. What I do is buy the policy online rather than through the quote. (General Chat) - Men without hats, Apr 10, 18:20:39
  - They're just assuming I'll automatically renew without checking, I guess. (General Chat) - APB, Apr 10, 18:22:53
    - Yup. Some do. Enough to make it worthwhile (n/m) (General Chat) - essexcanaryOTBC, Apr 10, 21:16:22
- set fire to the aviva beaver (General Chat) - Tombs, Apr 10, 18:17:18
  - #FuckTheBeaver (n/m) (General Chat) - harry boulders, Apr 10, 18:19:18
    - Reckon I'll get a stadium ban for that. (n/m) (General Chat) - APB, Apr 10, 18:47:29
- whats the question (n/m) (General Chat) - ghostof barry butler, Apr 10, 18:17:17
  - It's got a question mark at the end of it. (n/m) (General Chat) - APB, Apr 10, 18:18:53
- Sheila's wheels (n/m) (General Chat) - pants, Apr 10, 18:16:49
- Aviva Pilfering Bastards (n/m) (General Chat) - King, Apr 10, 18:16:37

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