Value in single insurance provider?

Discussion in 'Insurance not covered in other forums' started by thos, Mar 13, 2018.

  1. thos

    thos Frequent Poster

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    82
    Hi all,
    I've got house, plus 2 cars which need insurance. I've always kept them seperate and shopped around each invdividually.

    I'm concerned with getting locked in to single provider, given that shopping around for all 3 is a bit more painful in 1 go.

    What is the feedback on getting all insurance from single provider? Is it worthwhile?

    Tom
     
  2. gnf_ireland

    gnf_ireland Frequent Poster

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    1,180
    Hi Tom
    I just got my house insurance renewal in the door this morning. I used to be the same as you with policies purchased individually for the house and 2 cars, but over the last 18 months I have ended up moving them all to AXA, one policy at a time, as it simply worked out cheaper for me to do so.
    They give a detailed breakdown of the quote and how they come up with it, and its clear to see that having multiple policies with them makes a lot of sense from the discounts they have given me.
    For once, I am happy with the quote I have received (it is over 100 euro cheaper than the best I could get last year after shopping around) and for the first time in years, I will just pay it straight away as I cannot see anyone matching it at the moment.
    Remember, when you get to renewal time you are under no obligation to stay with the insurance provider.

    Do all your policies have the same renewal date or are they all different?
     
  3. peteb

    peteb Frequent Poster

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    1,608
    No benefit. Some insurers will give you a percentage off their price if you have another product with them. i.e if you have your house with Aviva they will discount your car insurance to the tune of 5% or something.

    However 5% of what may end up being the most expensive car insurance provider doesn't make it any use. So really it just come down to whether you want the convenience of having them all in one place.
     
  4. thos

    thos Frequent Poster

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    82
    Thanks for the feedback.

    Renewal dates are all different at present. They are each paid in single payment, which works as they are spread out anyway.

    My car is with Aviva, so home insurance quote with them looks better than Allianz renewal, but I dont think I can be bothered trying to uplift 3 policies to move them to 1 place, unless there was some decent savings in it.
     
  5. gnf_ireland

    gnf_ireland Frequent Poster

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    Agreed. So if you have different renewal dates, ring all providers you have insurance with and see what is the best price they can offer you based on the multi-buy option and if they are cheaper go with them. Otherwise don't.

    It worked out much cheaper for me go to with AXA for my car insurance in 2017 (Jan renewal). When the house insurance came up in April, I rang AXA, existing provider and a few more and AXA worked out the cheapest when multi-product discount factored in. And when the other car came up, done the same thing - and by coincidence AXA have worked out cheapest overall.
    If my house insurance had risen this year I would have gone shopping around again...
     
  6. gnf_ireland

    gnf_ireland Frequent Poster

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    Then go with Aviva - and maybe try 1 or 2 more just to benchmark the quote. Alternatively ring someone like Chill and see what the best quote they can give you and if they can beat your other two quotes

    Look at them each time they renew and if it makes sense to go to them at a point in time, then do it - otherwise don't !
     
  7. DeclanDublin

    DeclanDublin Frequent Poster

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    127
    I had my both house and car insurance with the AA, AXA for the car, and RSA for the house. I switched the car first to Aviva and then, as I got a good deal for having the car already with them, I switched my house insurance to them as well with a discount. I think I saved overall around 300 on the combined policies. However, I have no loyalty to any company and would switch again in a heartbeat. I don't think there is any advantage as a general principle to combining policies.
     
  8. Black Sheep

    Black Sheep Frequent Poster

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    2,176
    I moved my car insurance to Aviva (best quote at the time by a mile) then moved OH's car with a good discount when the due date came up. Now if I go with home policy (they have given me a good quote) they will throw in Multi trip travel insurance.
    If you have no penalty points there is a further discount.
     
    DeclanDublin likes this.
  9. thos

    thos Frequent Poster

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    82
    Thanks folks