Apparently, one in four home insurance policies are just renewed without question because too many householders find them confusing – or as the Insurance Blogger prefers, boring.
Boring or not, the difference between checking out comparison prices can add up to saving significant amounts, stress insurers.
Insurance customers who did not shop around were asked why – and here are the results:
- 38% are happy with their current provider
- 24% were too busy
- 21% don’t believe they could get better cover
- 20% were too lazy
- 16% don’t believe they can get cheaper cover
If the Insurance Blogger was a broker or a comparison site with a genuine care for my customers and their insurance karma, I suspect I would send out a renewal notice that stipulated the costs of any current cover – and the next best three quotes for the same or similar cover.
The reason customer don’t care is because they hate wasting their time phoning insurers and checking out online sites because despite efforts to pull money in to one supermarket, some brands are steadfastly stubborn and refuse to join the rest.
Then, after investing time and effort in sourcing new cover, the total saving is a derisory tenner.
That automatically strikes out all the objections above – those that are happy have checked out their options, those that are too busy or too lazy have the job done for them and those looking for better or cheaper cover are satisfied as well.
For the broker, it’s a customer service coup because the customer is going to renew through them.
Implementing the system is a cinch for most brokers, as it’s just a matter of running a query from information already on their customer database.
Online comparison sites already do this when customers input their details, so the technology leap is really a tiny step.
For home insurance from a broker you can trust, and a guaranteed minimum savign of at leat 10%, visit Quoteline Direct