Cash back schemes, anyone had Experience? by takestock

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So, after being shafted on my own car insurance, the wifes is due :(
Last year as her 1st year on her own policy it cost around £600. This year with 1yr ncb £780 :( done all the usual comparison sites and aviva, direct line as well etc etc.

Then received a junk mail from swinton offering cash back, so gave them a ring.

This is the deal.

Ins cost £860. they send you a code and a telephone no 24 hours after the policy has commenced. you have to ring the number and quote the code within 30 days. After 90 days providing the policy is still in place they send you a cheque for £200. thus making the insurance policy cost £660.

Opinions please and experiences
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Posted 30 Jun 2011, 19:23 #1 

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I always doubtful of these sorts of "gimmicks" Dave, tread carefully. If they can sell it cheaper do it but don't naff around with these schemes/cons
Have you tried the two car ownership option with Admiral?

"My lovely car now sold onto a very happy new owner.
I still love this marque and I will still be around, preferred selling to breaking, as a great runner and performer"

Posted 30 Jun 2011, 19:29 #2 

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Personally, I see these with a great deal of suspicion. Why don't they just give you the insurance cheaper unless there is something to hide. Also remember it will be £860 next year as you won't get the cashback.

I have no experience at all of the cashback, but we moved away from Swinton after a massively bodged repair job from the approved repairer of their 'in house' insurance provider. I think it took almost six months, and four attempts to get the car even close to being acceptable, and I still did a fair bit of rectification myself. I got rid of all of the rattles from fouls and missing fixings, but never did resolve the still distorted dashboard or slightly odd whine from something.

Posted 30 Jun 2011, 19:30 #3 

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Hi Dave
Dont know about those cash back tricks but if something sounds to good to be true it usualy is,my sons girlfried got her insurance cheeper because she put him on her insurance, work that out ? ask about it.

Posted 30 Jun 2011, 22:39 #4 

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(Site Admin)
I got a cash back deal from Tesco insurance a few years ago. It was in the form of a £40.00 voucher to spend in store. They couldn't match the price of insurance elsewhere directly so offered the cash back deal, which in effect was two or three pounds below other quotes.
Not the same as your offer but close.

Posted 01 Jul 2011, 12:01 #5 

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the thing is, they have already placed the £200 into the premium Dave, a bit of a con really. would the insurance be any cheaper if your were on the policy as a named driver, my daughters dropped £611 from £1618.00 for her first year ins to £1007 just because i went on as a named driver, try that??
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Posted 01 Jul 2011, 19:03 #6 

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Looking at the figures Mick, the cheapest this year is £780. they are offering £860 with £200 cash back in 90 days, making it £660

The quote is for me on the ins as named driver, without me on its over a grand :( :(
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Posted 01 Jul 2011, 20:30 #7 

Exisiting insurers' quote represents an increase of 65% on last years premium! (paid 600, full premium would need to be around £1000 to come down to £780 after 1 year NCD of say 20%).
Swinton want £860 with 200 back after 3 mths, so £660 is £120 better. That's half a result. Next year: find out if you still get £200 back, and under what terms. You will then get, all being well, two years NCD. I would estimate, or guess if you prefer, the cost will be roughly the same as this year. You need to make sure the cashback does not depend on there being NO POLICY CHANGE such as addition of another driver, change of vehicle or cover, modification of vehicle performance, continental cover extension, etc, etc, etc. And that it does not become repayable following an accident. Sometimes, during the 3 mths probationary period, if an accident occurs the insurer may require to cancel the policy. Rare, but has happened. My opinion only, not carrying any legal weight!

Posted 02 Jul 2011, 11:33 #8 

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try diamond insurance, that is who my daughter is with, i didnt get the discount until we actually spoke to them, worth a go mate
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Posted 02 Jul 2011, 18:49 #9 

Why not get a trade policy? You do fix lots of vis motors after all. That could be part time trade?

Posted 03 Jul 2011, 09:22 #10