Carole Nash Renewal Quotes

[Neil W]

No real gripes with CN in the past apart from the premiums going up every year , however, on average how long before their renewal dates are people receiving their renewal quotes ?


In the past I have always received quotes at least a month before renewal is due , this year I am 2 weeks away from the renewal date and zilch, plus they haven't responded to a couple of
e mail enquiries I have sent via their contact address.

Have I upset them or is this a new cunning plan ?

 

[Millmax]

Leave you to the death and try and force your hand,

 

[Neil W]

Yep that's what I thought , wondering if it is because I have called their bluff on renewal quotes for the past couple of years and got a decent reduction by pointing out that I have been a loyal customer for a number of years

 

[Gargy]

Watch out for the auto renewal scenario.

Some insurer's have a auto renewal clause in their policy that just takes the money straight from your account or credit card, depending on how you paid last year.

And unless you tell them you don't want their insurance before the renewal date, they just take it. I had the same a few years ago, and when I rang and told them I had gone elsewhere, they tried to charge me a £40 cancellation fee ! !

Good luck.

 

[Micky]

Phoned them the day before my 'automatic' renewal (January)

They asked me what I wanted to pay ...

Said fifty quid less than the renewal notice I had been sent ....

Came back to the phone and dropped the renewal by twenty quid or so ... said not good enough, I'll ring round

Asked me what it would take to to secure my renewal there and then ... said you're not listnin' now are ya, fifty quid

Dropped the renewal by £49.55

I should've asked for more

They're sharks and they want you to do the work for them

 

[King Rat]

Phoned them the day before my 'automatic' renewal (January)

They asked me what I wanted to pay ...

Said fifty quid less than the renewal notice I had been sent ....

Came back to the phone and dropped the renewal by twenty quid or so ... said not good enough, I'll ring round

Asked me what it would take to to secure my renewal there and then ... said you're not listnin' now are ya, fifty quid

Dropped the renewal by £49.55

I should've asked for more

They're sharks and they want you to do the work for them

BUT, did you take their offer and go for their insurance at the new quote?

I have yet to find anyone to beat them, but you might have ot haggle. Nothing wrong with that - when people ask me for a quote for my work, guess what?? I try to get as much as I can too !

 

[Micky]

BUT, did you take their offer and go for their insurance at the new quote?

Yup ... two bikes with full European breakdown recovery

 

[Neil W]

Bloody hell rang them up today and got a quote and for four bikes fully comp ,agreed value on the Katana, plus the ccm,xlr and GSA, blow me down it has gone down from last year .

Apparently they now only give you a written quote 7 to 10 days before renewal date

 

[Streetbike]

They also do not auto renew. You have to ring and confirm renewal. Miner has also gone down each year for the last two.

 

[Neil W]

FFS two hours after getting a telephone quote , I get an e mail from CN saying they will Auto Renew my policy for £120 more than they quoted me at 11 am this morning .

I told them last year that I will NOT and DID NOT sign up to or agree to auto renewal of insurance and have had to ring them to make sure I am taken off their auto renewal list.

They are now discussing with the underwriters how I got the first quote and blaming the person who answered the phone.

Apparently it appears that unlike any other business they are not obliged to honour any quotes given !

So a quick heads up CN are now doing auto renewal of your insurance unless you specifically tell them otherwise (obviously its done in your own best interest and with altruistic intent because we are all too stupid to realise when our insurance is due and that it is illegal to use a bike without insurance )

 

[Streetbike]

I must have signed something or perhaps their 6 wheeler policies are different as I had to make contact to renew.

 

[GS-Jonesy]

Just moved from Hastings to Carole Nash (Aviva are the insurer). Managed to knock them down over £100 from their starting price. Happy with the level of cover which includes fully comp on other bikes, helmet and leathers, legal cover, European breakdown cover.

Very happy


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[rhobgoblins]

Carole Nash are the broker (like any other) and Aviva are the Insurer. The Insurer sets the premium. Therefore, how can the broker suddenly start cutting premiums without referral to the Insurer or is it a case that the Insurer gives them a minimum price and then they add on what they think they can get away with. e.g.

Aviva has a premium requirement of £200
CN quote you £300
If you accept, CN keep the extra £100
If you moan, they drop the premium by £50 and keep the extra £50.
On top of commission/admin fees?

Anyone from CN care to comment?
I think if you directly ask a broker how much money they are making from your premium, they have to tell you as they are regulated. Would be interesting if everyone started doing this and then we could work out the true cost of insurance.

 

[Neil W]

Strangely enough that is what I said to the supervisor I spoke to , ie the only mistake was that the lad had quoted me their minimum price after which they were getting all profit.

Quote dropped significantly to just above what I was previously told but significantly lower than the auto renewal price

 

[GS-Jonesy]

Carole Nash are the broker (like any other) and Aviva are the Insurer. The Insurer sets the premium. Therefore, how can the broker suddenly start cutting premiums without referral to the Insurer or is it a case that the Insurer gives them a minimum price and then they add on what they think they can get away with. e.g.

Aviva has a premium requirement of £200
CN quote you £300
If you accept, CN keep the extra £100
If you moan, they drop the premium by £50 and keep the extra £50.
On top of commission/admin fees?

Anyone from CN care to comment?
I think if you directly ask a broker how much money they are making from your premium, they have to tell you as they are regulated. Would be interesting if everyone started doing this and then we could work out the true cost of insurance.

It's not that straightforward. They will usually have multiple elements to commercial relationship. One will certainly be the COR (Combined Operating Ratio) of the portfolio of business. Basically the sum total of all premiums placed with the insurer by the broker minus the sum total of claims and cost of administration of the portfolio. The broker will also be granted a certain level of underwriting licence. To confuse matters further the insurers 'strategy' will often set a target COR of above 100% (basically pricing cheaply knowing they will likely make a loss) but in the hope they increase market share and making a profit from the larger customer base at a later date. Over 10 years in the insurance and banking industry taught me it's rarely straight forward!


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[russell]

Spoke to C Nash today. Renewal coming up on mt RTlc. Quoted £204 with £300 excess. Phoned them to bring down the price and they dropped it by a tenner to £194. Said I'll think about it but while I'm on you have my bike model down as SE but it's actually an LE can you correct that. Yes I'll do that right now for you. Okay done that but that changes the cost. It's now an extra £1.50 so it's up to £195.50 and the EXCESS WILL NOW BE £450!!!!!. Fuckin ouch

 

[theory900]

Got an online quote this morning from CN, came in about £20 less than my Devitt renewal quote, however since doing this I've had a nuisance call from 0161 222 5411, answered call and just got silence.
Looked it up on Google and several comments that they started receiving these nuisance calls after asking for a CN quote.

 

[Engineer]

I had to chase CN up, if I hadn't it looked like an auto-renewal was going to happen - costs a bit more than 'normal' insurance because I have two postcodes and need occasional business use too.