Read the small print, the advert above is very cleverly worded, very cleverly, “We promise to beat the price of your current home insurance”, emphasis the word CURRENT in that sentence and then just think hard about that – it doesn’t say that you will not be able to find cheaper home insurance if you are already insured by Direct Line does it, very clever, must have cost a fortune getting that bit of the script past their legal guys.
Read the small print that appears at the start of that TV advert, the stuff you wouldn’t normally read, the stuff that they don’t actually read out aloud in the advert because they want to leave you with the impression that they promise to beat any quote even if thats not exactly what they are saying – what they are saying in that small print is that if you have been insured with someone else for at least twelve months, then Direct Line will beat that price, what they are not saying is that they will be as competitive if you are already a client of theirs ready for renewal, they don’t promise to compare prices and give you the cheapest, they aren’t even promising to beat any other quote that you may have – even if thats what you thought they were saying.
Heres the story …
As I mentioned earlier this week I am still currently insured by Direct Line for my home insurance, am covered by them until March 8th, they sent my renewal through a couple of weeks ago, total renewal cost £275.60 which covered all sorts of little extras like Home Emergencies, Family Legal Cover and others so I was very careful when I went on Moneysupermarket.com to enter the EXACT cover required so that it matched EXACTLY what I already had – like for like, it had to be that way.
Cheapest two quotes were from Shielas Wheels and eSure who are in fact the same company even though eSure quoted £2 more, total cost from them was £160.91.
Now I hold my hand up here, it wasn’t EXACTLY the same cover for the cheaper quotes only included £30k worth of contents insurance whereas Direct Line was for £50k – so I rang Direct Line and told them what I’d been quoted and gave them the opportunity to consider their own price advising them that they could probably make a bit of a saving on the lower contents package.
£12 they knocked off their price.
Hmmmm lets see, both quotes are now EXACTLY the same, same cover, same excesses, same extras, one is for £263, the other is £160, not even within a long shot are they ?
So strictly by the terms of their advertising they didn’t have to beat my current insurers price because they themselves were my current insurers, but they couldn’t come within a coo-eee of at least two of their competitors, not even within a city street block of the price, just a few more pounds and they’d have been double the price of their competitors.
Believe nothing that any insurance sales person offers you until they prove it and you have tried your damn-est to dis-prove it.
And tomorrow we sink even lower when we discuss bank investment schemes.