Last year, new legislation banned insurance companies from charging higher rates to returning customers - the so-called ‘loyalty penalty’ - while new customers are offered cheaper deals to entice them to switch.
Many insurance companies favour a certain type of driver - some offer better deals to the elderly, others to couples or those who drive a diesel vehicle; meaning many drivers are unaware that they could save a significant amount by switching. “Because this ban on ‘dual prices’ - where they’re not supposed to punish your loyalty - they’re sending out renewal notices saying ‘We’re giving you a little discount here, you don’t need to walk’ - don’t be fooled by that. It’s a slight cut.
Insurers can be so annoying - I go to their website looking for a quote and the form demands contact info. 5 minutes later they're cold calling me to ask if I want it or not.