Re: Model contracts
Bring it on! Imagine the same for car and household insurance renewals?
How that works now is each annual renewal is typically 10% more than last year (but a couple of years ago with a long claim free history my motor insurance jumped 27%).
So it's time to do a tour of the comparison sites, fill in a lengthy questionnaire at each, wade through dozens of different options, find a cheaper quote, call current insurer. They may offer a small cut but seldom match the best offer because "it's not a like for like equivalent". You read the small print and there are minor detail differences like "no excess for windscreen damage" but the overall excess is £250 instead of £200. Sure it's not like for like but I'm not planning on making a claim anyway and have no idea which choice is the best value for money.
Go for the cheaper quote. Those who don't will find that after 10 years they're paying £1000 p.a. for what was initially £400 p.a. By then a competitive quote might save £500 but in the intervening years the aggregate saving of a yearly switch would be many £hundreds.
If there were some model motor insurance contracts I guess annual switchers like me would end up paying more but would benefit from a couple of hours time saved each year. That should be mitigated by the financial savings to the insurers of reduced call centre, sales, advertising and admin costs.
Biting the hand that feeds IT
