WHAT PRICE LOYALTY?

 

The yearly hunt for new utility suppliers and insurers has been in full swing. Loyalty is costly, there is no value to the customer, you and me,  in being loyal to any utility and insurance company.  I noticed one company was lauding its plans for offering loyalty to its customers. Attractive though it sounded, on further investigation, the primary up front costs were not competitive in order to give it a try.  With terms and conditions always changing – the requirements of the underwriters, or because of taxes, are the stock reasons to date – there’s no confidence, nor is there any evidence on which to base this offering.  The annual research of the market is wearisome, but made totally necessary, if you want to keep budgets within personal means. Service companies, (including banks) rely on inertia. Many signals have indicated for some time that people are being priced out of the insurance market. There is already significant fuel and food poverty here in the U.K.

My suppliers’ fuel quote for a 1 year fixed price tariff has changed in four days and not to my advantage. A quick review of a number of companies I had considered demonstrated that the increase was across the board. What was not general, were the amounts by which prices had increased. My energy supplier wanted about £108 per annum more than their original quotation.

In general, increases with the other companies of interest ranged from about £13 – £24 per annum for a one year fixed price tariff.  Then, I tripped across an attractive two years fixed price deal at a very similar increase to one of the other competing providers.  It was described today as the cheapest two year fix on the market. Considering the volatility of the times we are living in on so many fronts, including international fuel supplies, it goes without saying, after hair-raising experiences with a previous supplier that I checked a lot of reviews on this company.

 

 

Two years peace of mind and one less concern next year is very tempting…….

 

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