Are you among those affected? These insurance customers pay more than necessary
And the difference is not just small coins: The analysis shows that old customers with more than ten years of seniority pay an average of 425 kroner for car insurance, DKK 240 for the contents and DKK 443 on top of the home insurance hat – compared to new customers with the same risk profile.
Thus, there are many indications that it can cost expensive to be faithful – and according to the Competition Council, this is partly due to the fact that the companies index regulate existing customers’ prices. The regulation is good enough in the terms of the terms, but prices can increase significantly without the customers necessarily noticing it. And since the companies should not notify the price increases separately, it becomes for many an expensive blind angle.
The study also shows that age and education come into play. Customers over the age of 65, with low financial understanding or short education, more often have higher prizes – although their risk of injury is not necessarily higher.
According to the analysis, nearly 80 percent of customers negotiating with their insurance company have received a lower price. And as many as 86 percent of new customers who are actively looking for offers are landing a better deal.
« There can often be money to be saved by changing insurance company, especially if you have been a customer for many years. Although the insurance market may seem complex, it does not have to be so difficult to investigate whether you can get a better product than your current one at a lower price, » says Christian Schultz.
Nevertheless, the analysis shows that the majority of Danes have not obtained new offers or considered changing company over the past two years. For many, loyalty thus becomes a quiet – and expensive – agreement.
