There is a debate raging within the professional insurance community at the moment, it is about your insurance premiums. Some insurers have taken the stance that new customers should receive 'incentivised' prices, rather than existing clients being offered sustainable prices. Its been termed, "dual pricing". Because there is one set of rules for the new shoppers and another for those renewing. Often, such a policy can sting the loyal customer!
Home Insurance retail has of course changed a little, consumers are now comparing a lot and this has almost re-written the old adage of sticking with the same brand and building a long term relationship.
We have talked a lot about this issue in the past; people don’t go changing their bank or type of car completely when presented with cheaper interest rates or fuel, do they? Perhaps they do. One thing is for certain though, the fact that other brands are pricing loyalty out of the equation is a shame. It forces consumers to do the extra leg work.
There is nothing wrong with comparing but there are plenty of things that are right about sticking with a good insurance provider. Its all about cost- benefit analysis.
Insurance is not a commodity, it’s a relationship
By changing policies each year, home insurance would be in danger of becoming a commodity like coco or silver, with wildly fluctuating prices each week, traded frequently. Insurance is actually about trust and real life. The danger of such uncertainty is that it becomes an ally of risk. What your home insurer needs to be is reliable and simple, not evasive and unpredictable. Look at what has happened to the financial sector when they used instruments that they did not have any control over. It was chaos. The word sustainable is used a lot these days, nevertheless; when it comes to home insurance prices, wouldn't it be better for us all?
We are not suggesting that home insurance buyers should put the blinkers on. In reality, an insurance shopper should of course check they are getting a good deal and are wanted by their insurer.
Your brand should contact you with renewal terms and you should feel comfortable picking up the phone or emailing to clarify certain points. Negotiation is possible. We actually stock other products besides our preferred online option; if you want to stay with us but need a little extra, we are happy to go that extra mile to keep you with us. Within reason of course! That is what you deserve.
We make no unnecessary price rises!
More critically, a customer should not open their renewal offer and leap out of their chair in shock, because their premium has risen inexplicably. This is the reality for a lot of customers. Sure, the comparison ability of modern insurance is huge, but this is unfortunately also causing insurers to act differently.
We are moving forward with our integration onto aggregators, we must confess, it has taken longer than we had hoped. Ironically, our quote engine appears to quick and simple and we had to add in a lot of other questions. We were happy to do this, but it obviously lengthened our wait to launch.
Insurance4everyone wants to be compared by news customers and selected on our competitive prices and excellent service. We also however; want our existing Home insurance customers to compare us on renewal; they will see that we promise not to raise their premium if they haven’t claimed. Who else offers that kind of deal? The answer is very few.
If you want to re-engage with your insurance and have a simpler life, we could just be the brand for you.
We aren’t going anywhere and neither are our competitive deals. New clients or renewal clients- you are both important to insurance4everyone.
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