Punishing Loyal Customers - No better than the competition

I saw on TV recently that insurance companies are complaining that customers lack loyalty, but then off they go punishing customers who end policies early. I know this is a bother, but I bought a new bike, wanted to stay with Devitt, but still had to pay cancellation charges.
You insurers cannot have it both ways. Treat customers badly then complain when we move for the best price. If you don't reward customers for being loyal, then what reason do we have to stay?
Devitt are OK, and they do explain the charges when you take the policy out, so nothing is hidden. But that only makes you as good/bad as the rest, no better, so why would I want to stay when you give me no reason to? I bought a new bike, so you punished me. It was less of a punishment to stay but I don't feel I have a good deal, or that I saved money or got a good service, just that I was slightly less screwed than if I had moved.