123.ie September savings

123 only offer limited Accidental Damage cover. It's not the real deal at all.

You should also make sure that they haven't given you a quote with their standard €500 excess. If you take out a policy with 123 you can get stung for the first €500 of each claim if you dont pay attention!

Read the small print.

Mine just has the basic 125 excess.

Oh how things can change in such a short space of time! I got my insurance for 150.00 euro. Today, same insurance coverage now costs... 208 euro!

Ok, another email today :

Home insurance, save up to 200 euro + 1 month free online. Use special promo code "FREEMONTH"

Mortgage protection

Intro offer 70% discount** call 1890233123

travel insurance 1 month free online^ use code "FREEMONTH" also

Mortgages - No fees service - Ideal for first time buyers

Small print :

Terms and conditions apply. 123 Money Ltd., trading as 123.ie, is regulated by the Financial Regulator. 123.ie Registered office, Paramount Court, Corrig Road, Sandyford, Dublin 18. Registered number: 323099 *One month free offer equivalent to 8.33% off annual premium. Saving guarantee applies to new customers & owner occupied only. Does not apply to multiple direct debits. **70% discount only applies to our guaranteed acceptance product. Insurer's terms apply. Home Insurance and Travel offers due to end 30/11/2008 ^One month free offer equivalent to 8.33% off annual premium. To cancel future communications from 123.ie, reply to this message with the word REMOVE in the Subject line. For more information, please read our Privacy Policy.

Personally I don't find 123 to be that competitive at all seeing as they are tied to certain providers (for house insurance they only go to Zurich) they do not offer the best price.

I always found 123 to be unbeatable in the past, but this year, their price had gone up significantly (Eagle Star) and I was able to beat their price by more than €100 with Getcover for comparable cover.

Complainer said:

I always found 123 to be unbeatable in the past, but this year, their price had gone up significantly (Eagle Star) and I was able to beat their price by more than €100 with Getcover for comparable cover.

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I don't know whether to be delighted or furious with 123. I told them by email that they would need to improve their quote substantially if they wanted to retain my business. They came back to me yesterday (about a week after my response) with an improved quote - about €150 reduction on their original quote as an 'early renewal discount', and matching the getcover.ie price (though I hadn't quoted this price to them).

Their original renewal email read " This premium represents excellent value for money when you consider the extensive cover provided by your policy. On that basis we continue to recommend your existing Insurer as we feel that this product is most suitable for your needs and in your best interest.", so I'm a bit annoyed that they didn't come up with the best price first time round. When I pushed the agent on this, she said that the renewal letter came directly from the insurers, not the broker, and 123 didn't have access to the renewal. But the email was sent from "user123@linuxbox.123.ie; on behalf of; household@123.ie", so she clearly talking through her hat, whether deliberate or not.

Did they meet their legal obligations as a broker? Is there any reason why I shouldn't renew now, or are prices likely to drop further over the next four weeks to renewal date?

I received the same carbon copy letter from 123. The renewal said that it was subject to there been no claims in the last 3 years. I had a small claim this year so I called them to clarify the situation. They said that they were fully aware of the claim and the renewal took this into account. They said it is a standard letter that they had no control over.

Did they meet their legal obligations as a broker?

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I would say no if they did not shop around for you. They only provide house insurance via Zurich so I can't see how they can offer the best price if they are tied to the one insurer. Tied agent would be more like it rather than broker.

i got a quote with 123.ie and you gotta watch there quotes are cheaper cus you agee to add a voluntary excess, this is the 1st bit of the claim you pay out be4 a claim is settled so your taking a risk putting it on, bad enough having to pay a claim but the to have to pay out big money on it is madness, theres always a catch....