[Misc] Companies - Taking the Pee with Covid 19

Westdene Seagull · Aug 18, 2020

So La Maison Westdene needs insuring for another year. Been with Halifax for a year and very happy. Got the renewal and it had gone up 25% from last year. Thought it was very steep so went to a price comparison website and found a dozen quotes lower for exactly the same cover. Phoned Halifax to ask why it gone up so much and the answer was "Because of Covid 19 Mr Westdene".

Really ?? How has Covid pushed up insurance prices ( and clearly only for Halifax ! ) ? My house is now occupied 24 hours a day - never was before Covid. Is there more risk of it burning down ?

Anyway, going elsewhere but anyone else with a story about a company or organisation taking the piss over Covid ( B&H Council is guaranteed - because government and local council seem to blame it on all their failings now ! ) ?

Kinky Gerbil · Aug 18, 2020

Westdene Seagull said:
So La Maison Westdene needs insuring for another year. Been with Halifax for a year and very happy. Got the renewal and it had gone up 25% from last year. Thought it was very steep so went to a price comparison website and found a dozen quotes lower for exactly the same cover. Phoned Halifax to ask why it gone up so much and the answer was "Because of Covid 19 Mr Westdene".

Really ?? How has Covid pushed up insurance prices ( and clearly only for Halifax ! ) ? My house is now occupied 24 hours a day - never was before Covid. Is there more risk of it burning down ?

Anyway, going elsewhere but anyone else with a story about a company or organisation taking the piss over Covid ( B&H Council is guaranteed ! ) ?

Making up for cuts in insurance elsewhere....

WATFORD zero · Aug 18, 2020

I've always thought (at least for the last 10-20 years) that you have to shop around for every type of insurance every year. Insurance companies have relied on people's inaction and simply renewing their insurance for their profits for years haven't they ?

I understand that in the Insurance business (which I only spent a short time in) it's called the lazy tax :shrug:

happypig · Aug 18, 2020

WATFORD zero said:
I've always thought (at least for the last 10-20 years) that you have to shop around for every type of insurance every year. Insurance companies have relied on people's inaction and simply renewing their insurance for their profits for years haven't they ?

I understand that in the Insurance business (which I only spent a short time in) it's called the lazy tax

Martin Lewis did a feature on it on his show. There's an optimum time to renew, about 21 days before I think.

As for pisstaking companies, Holland and Barrett were dreadful when we ordered some GF veggie mince. Said it was in stock then took 3 weeks to deliver it, blaming covid.

Westdene Seagull · Aug 18, 2020

WATFORD zero said:
I've always thought (at least for the last 10-20 years) that you have to shop around for every type of insurance every year. Insurance companies have relied on people's inaction and simply renewing their insurance for their profits for years haven't they ?

I understand that in the Insurance business (which I only spent a short time in) it's called the lazy tax

Oh agreed - but I always give my current insurer a chance to beat other quotes ( without telling them what they are ).

KZNSeagull · Aug 18, 2020

WATFORD zero said:
I've always thought (at least for the last 10-20 years) that you have to shop around for every type of insurance every year. Insurance companies have relied on people's inaction and simply renewing their insurance for their profits for years haven't they ?

I understand that in the Insurance business (which I only spent a short time in) it's called the lazy tax

Yup, and also you should use separate companies for everything. I had car and house insurance with the same one, claimed on the house insurance and my car insurance went up by about 30% at renewal, purely because I had claimed on the other policy,.

Da Man Clay · Aug 18, 2020

Basically the same every year with insurance companies. Just new excuse.

Gazwag · Aug 18, 2020

The fact that Admiral gave £25 per car policy back a few months ago shows insurance companies are not struggling. Insurance company share prices are skyrocketing as well.

Bodian · Aug 18, 2020

My car insurance has stayed roughly the same for about 6 years. Went up by 25% this year, and couldn't find a cheaper one elsewhere either. Same with boiler insurance.

Hampster Gull · Aug 18, 2020

They are in the Never waste a good crisis camp

Postman Pat · Aug 18, 2020

My mate bought a TV from PC World and took out £150 insurance. TV broke and they collected, they have a 14 day repair or replace guarantee in the insurance....long and short is they have had TV for over a month, no repair, no replacement, no loan TV.

He's now spent £400 on yet another TV

Apparently parts are difficult to obtain, but PC World refuse to replace or refund as insurance has a line that says they can ignore this because of "something outside their control"

Guinness Boy · Aug 18, 2020

Having worked in the industry on and off it's likely to be the mentioned "lazy tax" bumped up due to Covid.

There may well have been increased general insurance claims due to Covid for everything from travel to loss of earnings. Plus health insurance claims. The insurer will try and get out of it as much as possible but if they are paying more claims then they have to recoup the money. They'll try renewing your cover at higher rates and it's your responsibiity to spot it and swap insurer.

If I tell you that it's very likely that Halifax is just a brand and it may well be underwritten and administered by third parties you may not be entirely surprised. But you may be if I tell you that the cheaper quotes on the comparison portals are also administered or underwritten by the same companies.

See if it mentions "BISL". If it does it involved BGL in Peterborough who also own........Compare the Meerkat. And how do quotes come out cheapest on the comparison sites? By running discount campaigns with specific brands and insurers including their own. You may have renewed with an office across the corridor from "Halifax".

beorhthelm · Aug 18, 2020

Postman Pat said:
My mate bought a TV from PC World and took out £150 insurance. TV broke and they collected, they have a 14 day repair or replace guarantee in the insurance....long and short is they have had TV for over a month, no repair, no replacement, no loan TV.

He's now spent £400 on yet another TV

Apparently parts are difficult to obtain, but PC World refuse to replace or refund as insurance has a line that says they can ignore this because of "something outside their control"

sadly thats little to do with covid, electrical/electronic insurance is a always a rip off and known for return to base, long or failed repairs. anything break with in first year, dont accept anything other than refund or warranty replacement.

Fungus · Aug 18, 2020

My home insurance renewal quote came in from Sainsbury yesterday. Up from £214 to £218 for a 4 bed detached house, so about 2%. Not worth going elsewhere, but we've changed insurers in the past when necessary.

jessiejames · Aug 18, 2020

Had car insurance with company, renewal £50 more, went price comparison website, got same insurance as previously £8 cheaper with same company. Had great pleasure in informing them that I would not be renewing, but will be.

crookie · Aug 18, 2020

WATFORD zero said:
I've always thought (at least for the last 10-20 years) that you have to shop around for every type of insurance every year. Insurance companies have relied on people's inaction and simply renewing their insurance for their profits for years haven't they ?

I understand that in the Insurance business (which I only spent a short time in) it's called the lazy tax

With car insurance last few years, I've got the renewal quote, which was an increase, gone on the price comparison sites, and the cheapest were from my existing insurer, about 20% cheaper than the renewal quote, so I switched, to themselves !! This year was Hastings Direct, 2 years ago Swiftcover. Just illustrates perfectly the 'lazy Tax'

Jessiejames quicker on the draw !!

drew · Aug 18, 2020

Insurers pretty much always discount new policies and as previously mentioned, they then rely on a percentage of people not switching at renewal.

phoenix · Aug 18, 2020

crookie said:
With car insurance last few years, I've got the renewal quote, which was an increase, gone on the price comparison sites, and the cheapest were from my existing insurer, about 20% cheaper than the renewal quote, so I switched, to themselves !! This year was Hastings Direct, 2 years ago Swiftcover. Just illustrates perfectly the 'lazy Tax'

Jessiejames quicker on the draw !!

Ha Ha same as me Hastings Direct.

I said to the agent "can't you mark me down as awkward" so you know not to take the piss next year.

Guinness Boy · Aug 18, 2020

Westdene Seagull said:
So La Maison Westdene needs insuring for another year. Been with Halifax for a year and very happy. Got the renewal and it had gone up 25% from last year. Thought it was very steep so went to a price comparison website and found a dozen quotes lower for exactly the same cover. Phoned Halifax to ask why it gone up so much and the answer was "Because of Covid 19 Mr Westdene".

Really ?? How has Covid pushed up insurance prices ( and clearly only for Halifax ! ) ? My house is now occupied 24 hours a day - never was before Covid. Is there more risk of it burning down ?

Anyway, going elsewhere but anyone else with a story about a company or organisation taking the piss over Covid ( B&H Council is guaranteed - because government and local council seem to blame it on all their failings now ! ) ?

Also, have just quoted you as this is important. When you went on the comparison website did you match the cover questions against your current policy? If you were guessing you could now be over insured, under insured or simply have misrepresented your risk, which will be picked up in any claim.

Deleted member 2719 · Aug 18, 2020

Westdene Seagull said:
So La Maison Westdene needs insuring for another year. Been with Halifax for a year and very happy. Got the renewal and it had gone up 25% from last year. Thought it was very steep so went to a price comparison website and found a dozen quotes lower for exactly the same cover. Phoned Halifax to ask why it gone up so much and the answer was "Because of Covid 19 Mr Westdene".

Really ?? How has Covid pushed up insurance prices ( and clearly only for Halifax ! ) ? My house is now occupied 24 hours a day - never was before Covid. Is there more risk of it burning down ?

Anyway, going elsewhere but anyone else with a story about a company or organisation taking the piss over Covid ( B&H Council is guaranteed - because government and local council seem to blame it on all their failings now ! ) ?

I would say you got a bargain there Westdene, bearing in mind of your reputation, as you get an extra tax, TW@T (The Westdene Added Tax) which is generally 9 times the amount. :hilton:

.

Westdene Seagull said:
I wouldn't have an issue with a "Sorry, we're too busy so can't help" response but to come out, look at it and then quote nearly NINE times the price is nothing short of trying to rip someone off. And of course means I'll tell lots of people NOT to use them. Very strange( and stupid ) business policy if you ask me.

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[Misc] Companies - Taking the Pee with Covid 19

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