Why the high Tesco car insurance renewal quote?

  • FERRET2020's Avatar
    Fresh Eyes
    Hi There

    I'm being quoted £349 car insurance renewal by Tesco. I've been with them two years.

    On a well-known insurance search site, I've been given several quotes that far undercut this. There's a band of quotes from reputable companies offering the same cover, based on my personal details.

    Quotes start at £180, but I'm always reluctant to pick the lowest prices for anything.

    There are around 30 quotes £220~280. Some of the higher figures offer more options as standard than Tesco.

    Is there any good reason for such disparity? I'm one for staying with the same company, but I'm being driven away by this high quote.

    Thanks in advance :-)
  • 2 Replies

  • KellyT's Avatar
    Your Community Expert
    Hi @FERRET2020, thanks for your message. I’m sorry you’ve seen an increase in your premium this year. Our underwriters regularly review their rates, which means premiums can increase even when no individual details have changed. I’m afraid we don’t get an exact breakdown of the renewal price, this is based on many rating factors. Please send us over a private message to @Tesco-Bank if you would like us to take a look at the price for you.

    Sign up for our Beta here

    If you need to ask a question about a Tesco Bank product, you can make a post in Help & Support here

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  • GaryB008's Avatar
    Investigator
    Hi There

    I'm being quoted £349 car insurance renewal by Tesco. I've been with them two years.

    On a well-known insurance search site, I've been given several quotes that far undercut this. There's a band of quotes from reputable companies offering the same cover, based on my personal details.

    Quotes start at £180, but I'm always reluctant to pick the lowest prices for anything.

    There are around 30 quotes £220~280. Some of the higher figures offer more options as standard than Tesco.

    Is there any good reason for such disparity? I'm one for staying with the same company, but I'm being driven away by this high quote.

    Thanks in advance :-)

    This is pretty standard insurance practice. They rely on the inertia of the vast majority who can't be bothered to shop around and just let it renew. The only way to be these days is a "price ****" (Tesco are blanking the word, but it rhymes with "heart". Go for the lowest quote from a company you've heard of. I've been with Aviva for a few years now and they've been pretty good on their renewal prices. I was with esure before, who were OK for a few years, but then got silly with their prices, despite no claims being made.