Prudential is a top-rated insurance company that is committed to providing its customers with excellent service and insurance at an affordable price. In order to continue offering such great value, Prudential has developed some new initiatives that will make their car insurance pricing even more affordable. Prudential car insurance pricing strategy means that its standard policy rates have gone up by as much as 40%. But with these higher premiums come some fantastic savings for its most loyal customers, who will now see a reduction of up to 27% on the cost of their car insurance. This new pricing model is being implemented in phases from July 1st, 2018 so be sure to check your renewal date before you buy.
What’s changing with Prudential Car Insurance?
The new Prudential standard car insurance rate is now £90 a year, an increase of 10% on the policy rate of £84.60. If you currently have a policy with Prudential, you’ll be automatically switched over to the new rate as part of your renewal. The new rate is set to increase by 2.5% each year until 2019, at which point it will go up by £2 a year. The new standard rate is £90 a year, which is an increase of £10 on the current rate of £80. The new rate is applicable to all new and renewal customers, leaving your existing policy unaffected.
The Roadside Assistance Benefit
Prudential’s new standard rate comes with a nifty roadside assistance benefit. This perk will cover you in case of an accident when you’re out of the country and unable to contact your car insurance provider. The benefit will cover you for up to 50 miles of travel and will include a jump start mechanism, fuel delivery, lockout service, and towing to the nearest service station
Discount on Collision and Legal Protection
Prudential’s new standard rate comes with a discount on the cost of collision and legal protection. If you opt to have your car insured with Prudential, they will give you a 10% discount on the cost of collision and legal protection. This discount is in addition to any already taken out by your car’s manufacturer.
The Increased Claim Payouts
Prudential’s new standard rate comes with a higher payout on claims. If you suffer a breakdown that requires the use of an additional vehicle, the new standard rate will cover you for up to £80 a day. Previously, the maximum payout on this type of claim was £40 a day, so this is a significant increase.
Conclusion
Prudential’s new car insurance pricing strategy means that its standard policy rates have gone up by as much as 40%. But with these higher premiums come some fantastic savings for its most loyal customers, who will now see a reduction of up to 27% on the cost of their car insurance. To take advantage of these new pricing plans, you must have a policy with Prudential and be renewing it before October 31st, 2022. If you are currently a customer, make sure to call your representative before your renewal date to see if they can help you transition to the new rates.