Insurance Quotes

[The Old Bloke Next Door]

Had my my motor trade insurance renewal quote yesterday,  Cost £294 fifteen years ago and despite me never making a claim and having no convictions, its risen to £1004.

 

As I've only needed to use it for trade work about five times in the last year I've decided to decline.

 

So I got quotes for private use from Money Supermarket, Rover Metro diesel, 6000 miles per year, valued car at £600. Cheapest is AA for £166 comp, dearest is £2400 from First, who ever they are.

 

What I find incredible is how does any insurance company expect anyone to pay that much for insurance?

[stripped fred]

If one of those quotes is 1st Central then avoid. I've been using direct line for the last few years and found them really good and not too expensive. They don't charge admin fees when you make changes either. They do a multi car policy too.

[Retro_Auto]

Just renewed our MT policy with Onesure, (micky-mouse insurance company I had never heard of before, £699.

 

We were with L.V. last year (well known Company) but they wanted to hike it to £722, so Onesure deffed them out.

 

Should say that we have two of us on this policy, Trade Plates, and two SDP cars.

[Dave_Q]

I think that some of these companies have a risk profile they want to attract, the bonkers quotes are probably from a company who specialize in 19 year olds with Q plated RS turbos or something.

 

Your face doesn't fit so the computers way of saying no is to quote you £GTF_MATE. If you were on the phone to a broker they wouldn't even mention the biggest quotes but obviously the opera singing meerkat puts them all on screen.

[The Old Bloke Next Door]

My traders was Zenith, arranged through Swintons, who surprisingly didn't offer to quote me for private use.

[Dave_Q]

BTW, be careful about your no claims - when I went from trade to private most places refused to accept my trade policy no claims. Eventually found one that would take it but most places insist on no claims from a private car policy only.

[The Old Bloke Next Door]

I'll keep that in mind.

[EssDeeWon]

So many insurance companies nowadays fall under the same ownership umbrella, so one will give a silly quote for £2000 and one will be competitive to highlight how good the cheaper quote is, say £400,  then people click and buy etc.  

[Tamworthbay]

So many insurance companies nowadays fall under the same ownership umbrella, so one will give a silly quote for £2000 and one will be competitive to highlight how good the cheaper quote is, say £400,  then people click and buy etc.

 

Indeed, a bit like the old menu trick where one steak is up at £30 so the gullible think the £20 is good value when they wouldn't have paid more than £10 for it normally.

[JayW]

Insurance pricing really is a game of darts with blind players. There rarely seems any logic to it beyond the blatantly obvious.

 

In my case:

Applying my 7 years NCD makes £0 difference to anything.

Applying my garage often increases premium over on-road parking.

Increasing my normal £50 excess to £300 reduces premium by a fiver.

Adding the recently licenced wife on the Cinquecento increases premium by £200, but add her to the 4 litre Jag that's 4 times the size, weight and power for 40 quid.

 

For the last many years, all classics = £110-£150, all moderns irrespective of power/value = £300.

 

I'll stick with me classics thanks.