That's what I think, Had my renewal a few days ago, went on the comparison sites and it was nearly £200 less!!! - My insurer has a "We guarantee to beat any like for like quote" in the renewal letter, I called - they came down £150 and said they would not match/beat without proof, I emailed them screen shots of the comparison website and they then matched, Now I would switch companies and avoid the aggro but my insurer offers some add ons that the competition just don't do so I decided that getting nearly £200 off my renewal was worth it.
But I agree with the point that they should do it at a more competitive price to start with!