Am I thick / missing something. (Insurance related)

Nigel Thomas

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Brighton
I have 6 vehicles (4 bikes)

Some years ago I started using comparethemarket.com and have always found cheap insurance with their recommendations

Every year, at renewal time I always (without exception) get a renewal from the broker of at least twice that of CTM

I go back to CTM, make one change (usually to increase the no claims years) and let it find me some prices

Lo and behold, every time, I get a cheaper price, more often than not from the same company!!!

Cases in point. Goldwing insurance with Benetts via CTM (2021) - 86.00. 2022 renewal from Benetts - 186.00. CTM requote 84.00

..and from the same underwriter too (Markerstudy)

Whats going on
 
Whats going on

Discussed to exhaustion.
You are most probably being offered different services.
Even the same insurer can have different "levels of cover".

Read the fine print. Choose the one that works best for you.
 
Thought it was that brokers have a set price from the insurance companies for a level of cover and risk and anything above that pricel that they can screw out of the punters is pure profit in the pocket of the broker.
 
Thought it was that brokers have a set price from the insurance companies for a level of cover and risk and anything above that pricel that they can screw out of the punters is pure profit in the pocket of the broker.

Do you really think that if someone gets something in at one price and sells it for another higher price, the difference between the two numbers is pure profit?
 
Discussed to exhaustion.
You are most probably being offered different services.
Even the same insurer can have different "levels of cover".

Read the fine print. Choose the one that works best for you.

Nope, it's a renewal for the policy I agreed to a year ago. Exact same cover, same company.
 
Do you really think that if someone gets something in at one price and sells it for another higher price, the difference between the two numbers is pure profit?

I think part of the difference compensates for the ones they’ve sold at a lower price to catch new customers.
 


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