I did the same on confused.com and had a quote far cheaper direct from the RAC. My previous compamy phoned to enquire why I had not renewed with them and told them I had similar cover for well over a hundred pounds cheaper (didn't say exact price). The original company came back ten minutes later offering me cover at virtually the same price as the RAC. My first question to them was why did you give me such a ridiculous qoute then in the first place if you can offer the same cover far cheaper. They were lost for words so I told them I do not like doing business with companies that attempt to milk the unsuspecting public and I will also be telling my family and friends of the way they operate. Haven't heard from them since
I did exactly the same as Colin when it came to my Home/Contents cover.
The original Company who I had been with for several years (because they were the cheapest) suddenly put their prices up. I tried pointing out that I had received a quote numerous pounds cheaper and they did reduce their premium (but not emough)
I spent the cost of a stamp in pointing out to them that, had they not been so greedy in the first place, they would have probably kept my business.
Insurance is very much a form of gambling. You are having a bet with the Insurance Co. that you will not have a claim and likewise they are offering you the opportunity of throwing money at them and they are hoping that you dont claim as well.
They have the opportunity (like mortgage brokers) to pass on your 'bet' to another Company that is prepared to take the same risk for a smaller price.