Insurance Companies Switching to New Strategies in Difficult Times
The Practice of Ditch and Switch Changes to Customer Retention
Although the insurance industry is rife with companies that promise low prices on policies, only to increase the amount upon renewal, there is a small group that is working to change those policies. No Claims Discount has discovered that there are numerous smaller companies that are leaving behind the old “ditch and switch tactics” to focus on serving their customers with better prices and more coverage.
This is good news for consumers, particularly since it has been estimated by MoneySupermarket that approximately 75% of them will keep their existing insurance plans, year after year, regardless of how high premium prices go. This is particularly true of home insurance where premium rates can skyrocket after the first year’s worth of introductory discounts that will generally include an online purchase deduction plus a flurry of cost offsetting shopping vouchers. Given the state of the housing market, the news that some companies are working to change the status quo will certainly be well received by homeowners.
Companies such as More Than and Direct Line are combining the power of incentives with the promise of taking care of their customers by keeping rates low, year after year. No Claims Discount has been tracking these trends, and provides consumers with the information they need to have to make a smart decision on home insurance, as well as all the latest insurance news.
These resources are provided by No Claims Discount as a public service, and they give consumers the upper hand when it comes to choosing the right insurance policy to fit their needs as they compare the popularity of insurer’s policies, not just pricing.
About the Company: No Claims Discount offers consumers the opportunity to get real pricing from real insurance companies, without all the hassles. Thousands of customers have been able to find the right insurance plan thanks to their efforts. By offering consumers real world information about insurance policies, the site provides a valuable, unique service that is unmatched.
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- No Claims Discount
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