This year I have saved money each time that I have renewed insurance. It seems that insurance companies offer good deals to tempt you to them and then increase your premiums in the following years hoping that you dont realise or cant be bothered to change to another provider.
The most recent renewal came through a couple of weeks back. Renewal for my car with full no claims was offered at £225. It would renew automatically in 28 days. I searched through many providers and eventually purchased through the Quidco website. I opted for the same conditions as my original insurance, hire car, legal protection, no claims protection etc. The annual insurance was £185 but I also got £75 cash back from Quidco. So the cost for the year to me is less than half of the outgoing insurance.
This method only works when insurance companies are prepared to offer discounts in year one with the hope of getting back to proper rates from year 2. However this is the fashion in the UK at the moment and being sure to react to renewal notifications has saved me a lot of money this year.
Sometimes it pays to be loyal but on this occasion not all.