The Insurance business (7 replies)

I know people post about insurance from time to time. I’d just like someone who understands the industry to explain to me how it works because it seems very random to me.

To explain - I recently renewed my car insurance with LV on my old car, which they charged me over £400 for. It was too much but I’ve been with them a while and in the past they’ve handled a couple of things well for me. Anyway, I’ve also decided to buy a new car (a lot more expensive) and asked them if they’d keep it at the same price. They wouldn’t, they wanted £220 more per year. In the meantime I got a quote with Churchill on exactly the same terms for half this total amount. So that’s who I’m fining with. How can 2 reputable firms be 100% different in price? Where’s the sense?