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<blockquote data-quote="Goweresque" data-source="post: 4968136" data-attributes="member: 818"><p>Insurance is an inverse loyalty game - the longer you stay with a company, the worse they tend to treat you. The insurers work on the basis that if they increase the premiums each year more people than not will just pay the increase, so they will make more money. Whereas to get new customers they have to be competitive, so those get lower quotes, which they are still making some money at. So they have new customers who make them X profit, older ones who make 3 or 4X profit and the ones who never move who may make them as much as 10X profit. And ever year they try to move you into a higher profit category.</p><p></p><p>The trick from the consumers point of view is to change insurers regularly, so you're always somewhere near the bottom of their profit scale.</p></blockquote><p></p>
[QUOTE="Goweresque, post: 4968136, member: 818"] Insurance is an inverse loyalty game - the longer you stay with a company, the worse they tend to treat you. The insurers work on the basis that if they increase the premiums each year more people than not will just pay the increase, so they will make more money. Whereas to get new customers they have to be competitive, so those get lower quotes, which they are still making some money at. So they have new customers who make them X profit, older ones who make 3 or 4X profit and the ones who never move who may make them as much as 10X profit. And ever year they try to move you into a higher profit category. The trick from the consumers point of view is to change insurers regularly, so you're always somewhere near the bottom of their profit scale. [/QUOTE]
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