New customer v existing customer

Banjo Carney

Hi I got my insurance renewal on at €688. I did an online quote with the same broker as a new customer and got a quote from the same company for €594. This included a €40 discount for buying online. Obviously when doing the quote I had to lie about my present insurer. I presume I can't just go ahead and buy that policy online.

Maybe I'm wrong but I was under the impression existing customers are entitled to the same price as new customers. Any advice or similar experiences appreciated.

I'd be particularly interested to hear from anyone in the motor insurance business.

Thanks

IrishGrimReaper

There's nothing preventing you from taking out the new policy, I have done it myself on two occassions. Just be certain the information you've entered is correct.

You could also ring them up with your new quote number and they'll probably match it on your existing policy.

Banjo Carney

Hi thanks for your input. All the information is correct except I'm not disclosing my correct current insurer. Would this make the policy null and void.

I've now discovered it's even cheaper with a different broker but it's the same company again so same problem.

IrishGrimReaper

It doesn't matter who your current Insurer is and it won't make your policy null and void.

Eggs For Dinner

You need to declare your correct current insurer, if specifically asked. It may be considered non disclosure. Having said that, there should not be a difference in premium for the EXACT same cover

BTW, a broker is not an insurer. Insurers are allowed have different premiums distributed through different channels

thebiglad

Don't worry about current insurer - that is not a non-disclosure - non disclosure will relate to having cover refused etc

Besides, if you take out the policy you'll need to supply your proof of NCD and that will show them they are the last insurer!

When I am in this situation at renewal I just call the insurer, tell them they are quoting me x online compared to y for my renewal and ask that they simply match it to save me the work of switching to a new policy and them the work of setting up a new policy - they always oblige and I only need to pay.

Eggs For Dinner

Misrepresentation / non-disclosure is anything which influences an insurer's acceptance of a risk or what premium or terms they apply. If you are asked a direct question about previous insurer, you must answer honestly or risk consequences.

I have often taken out a new policy with the same insurer without any issues, but I did declare it accurately. Never give an insurer a reason to exercise their rights under the terms of the policy

thebiglad

https://www.boards.ie/discussion/comment/121826786#Comment_121826786

And what rating factors exactly apply to the details of your last insurer - presuming you were previously insured in Ireland and will be insured in Ireland again.

Educate me on the grounds to cancel a policy or deny a future claim on that basis. Previous insurance to my knowledge is not a rating factor that would have a material impact the insurer's decision to offer terms in the world of Motor Policies.

I can see it if you say never previously insured (to avoid a claims history) but as you will share the NCD proof anyhow as part of the process - seriously.

Eggs For Dinner

ANY question an insurer asks has a bearing on their offering. If it's not asked, they are not interested. My point is that should an insurer ask specifically about previous insurer, answer it honestly. It shouldn't affect things, but if it does, it becomes an underwriting factor and you are taking a risk by giving incorrect information.

Eoinbmw

This happens most years for me I just ring with the quote reference and make them match it!

Banjo Carney

https://www.boards.ie/discussion/comment/121826974#Comment_121826974

This is what I'll do. Have they ever reduced it that much for you it's €94. Thanks

Eoinbmw

https://www.boards.ie/discussion/comment/121827476#Comment_121827476

Absolutely it can be !

Banjo Carney

Just to update this the broker said they can't match the online quote the best they can do is €650. I haven't decided yet as I have a couple of weeks left.

He wasn't prepared to say if not giving my correct present insurer would lead to the policy been cancelled or not.

I wouldn't blame him for that to be honest.

Del2005

https://www.boards.ie/discussion/comment/121834062#Comment_121834062

Do the online quotes again with the correct insurer and see if it's the same, use private mode, then take out the new policy. All you have to do is scan the proof of NCD or some companies just require a ref number from your NCD letter. Why bother calling them when it's quicker to do it online?

Banjo Carney

If I use my correct present insurer I won't get a quote from them and they are well cheaper than the rest

tomhammer..

https://www.boards.ie/discussion/comment/121834062#Comment_121834062

Once you lie to the insurer there and take out the new policy you're potentially in trouble later

Being the same company it wouldn't be hard for them to check in the event of a claim

They can take your money in the meantime and cancel later in the event of a claim