The price of loyalty

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I have always valued loyalty, in all aspects life and rather naively expect it back. When I don’t get it in return it annoys me.

I bank with Halifax and have my household insurance with them. I have done so for the last four years. Despite the fact I have never claimed on any type of insurance in my life, each year the cost has gone up. I normally just ignore the letter and let it automatically renew. This year I must have been bored and read the letter properly. They were charging me over £300, which I thought was a bit excessive. I went on compare the market to see it I was being overcharged. The quotes that came back where £60. I didn’t hit the roof, I just assumed it was missing some vital bit of info that made mine high. So, I gave them a ring.

I spoke to a nice chap from Admiral insurance and it was right that how much I should have been charged, after a long conversation I ended up £120 and getting my central heating covered, something I didn’t have with Halifax and that was still considerably cheaper. I paid up.

I rang Halifax to cancel and the girl had the cheek to say.

“You have been a customer for four years we would hate to lose you, shall I see if I can do anything about the price?”

I wasn’t very nice to her I pointed out if was such a valued customer why had they tried to conn me with the over inflated policy? I didn’t let her give me a new quote.

What gets my goat is that somewhere somebody has worked out they can make more money by conning lazy people like me into paying higher premiums rather than reward loyal customers and try to keep them.

If I wasn’t so lazy I would switch banks too but I don’t expect the other banks aren’t any better.

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14 thoughts on “The price of loyalty

  1. As far as I’m concerned… NO ONE is looking out for you, aside from yourself!
    I get house insurance quotes yearly. Just to check. So far, my carrier is still the lowest. However, I’ve been screwed by the gas company, who told me I was paying the same amount via a ‘budget plan’ as I would have been on an actual monthly bill. They were NOWHERE close to actual.
    The Internet company I’ve been with just raised me $27. I’ve been with them for 12 years and they advertise $19 a month for new subscribers… Wha?! I’ve been loyal and you’ll give lower rates to anyone?!? 😣
    Set a date aside, yearly, to go over this stuff… I’ve saved myself 100’s of $ by just looking at the competition.
    Even in service levels for the same $. Internet companies ate offering 2x the download speeds for the same $ I’m paying now. Makes it harder to be loyal, IMO!!

    Liked by 1 person

  2. You are so right here, Eric. It’s such a shame but a company like Sky are a prime example. If you sign up new you get a much better deal than those who have been loyal customers. Not right but it seems to be the way of the world – sadly…

    Liked by 1 person

    1. I had the same whithh Sky. My box broke I asked for a new one. They asked for £60, I was already paying £50 a month so I told them no and after a long story canceled my subscription and went with BT. BT is far cheaper. A week later I got the offer of a new sky box, but by then it was too late.

      Liked by 1 person

  3. Typically with any insurance company you have to shop around or let them know you will leave. I have gotten my auto insurance prices lowered that way.

    Liked by 1 person

      1. I agree but that is capitalism at work. To get the best price it is on the consumer to shop around and take their business elsewhere if needed.

        Liked by 1 person

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