case study 6

Cheaper quote is a loser

Our client, a motor trader in South Wales, employing 10 staff, was offered a cheaper quotation to our terms at renewal.
Thankfully they value our service to them, over several years and gave us the opportunity to look at this alternate quote in detail.
We uncovered, and were able to show to our client, several significant differences between the cover we were offering and that of the alternate, including; the lack of cover for customers vehicles damaged or stolen within 250 metres of their own premises, no cover for defective workmanship, reduced liability cover limits, no cover for accidental damage, the exclusion of cover for “tyre fitting,” (over half of total turnover), some lower sums insured, higher excesses and most importantly, a known attitude of reluctance to honour claims by the “downmarket” insurer that was putting forward the alternate quote.
We worked with the client to adjust their policy, increasing some excesses to an acceptable level and reducing some cover, where the client felt they could afford to do so.
This allowed the client to renew with us, at a lower premium, reflecting the difficult economic trading climate, whilst retaining the cover they need.
They realised that the “cheaper” quote was not as attractive as it first appeared and were reassured that we have their best interests at heart.

We are happy to help our clients to reduce their premiums, especially when times are hard, we appreciate the chance to work with clients closely and never pretend that there is only one answer to a problem.