Insurance renewal rip offs

[stripped fred]

Some companies insist that to have a car on a classic policy you also have to have a daily driver.

That's OK as I do.

[stripped fred]

Just got round to looking into this a bit more. Rang Footman James and they're quoting me £120 on a classic policy. Only 2k miles a year but parked on the street and includes an agreed value of £500 and commuting. Looks like this will be in use soon!

[Joey spud]

Just insured my Scimitar with Footman James 2k miles / classic policy for a paltry £67.34p (i am an old git now days though) thats less than 19p a day.

Throw in the free road tax and i am chuffed as fuck...

[garbaldy]

it was on the news tonight that policy's will be on the rise again 10% due to more fake claims from staged crashes.

factor in the budgets 9% insurance tax rise and here we go again. 

[captain_70s]

My insurance prices have gone up since last year. Can't be arsed with this shit any more, costs a fortune to insure a motor even it's a mollycoddled classic kept in a garage. Don't know why I bother, I live in the middle of nowhere and know a ton of people who just don't bother with insurance at all because the chance of getting caught is so slim. Nothing quite like being kicked in the balls for not being a cunt.

 

Funnily enough I have one Dolomite insured as a classic as I have another car to use everyday... Which is another Dolomite which is a year older! The Dolly 1300 has always been my most expensive car to insure for no logical reason, cost more than my Yaris 1.0, the Corsa 1.4T and the Dolly 1850...

[Taff]

I'll be shopping for insurance for the F soon, it usually comes back in the mid £300's region as it's a daily hack and only a mere 19 years old.

[The Moog]

I was doing some window shopping and decided to compare some meerkats

Comprehensive cover on a variety of shitbox 1 to 1.5 litre £500 pound cars was coming in at about £300 to £350 a year with 5k miles and £500 excess.

When I asked for a quote for a certain 3litre Jaaaaag (up for sale in these hallowed halls) the quote was £220 with exactly the same conditions....

How can it cost me less to insure a big 3 litre cat than a shitbox hyundi getz?

Am a bit bemused

  

Presumably they think that somebody paying £500 for a shitbox is less inclined to drive it safely?

 

A lot of these risks are worked out on a computer these days and there would have been some manner of modelling to figure it out.  It does produce counter-intuitive results sometimes.  I'm no great friend of the insurance industry but they do have some clever computing going on.

 

A few years ago my brother was approached by a finance company (who do very similar risk modelling) to work for them and offered big, big money (£100K starting salary).  He turned them down.  His major qualification?  A PhD in Mathematics.  Specifically, modelling.

 

EDIT:  It doesn't benefit people like shiters, who are inclined to drive their worthless motors carefully but based on the 'average' driving habits, that's what their computers come back with!  It's the same when I was first driving, it was cheaper to insure fully comp with extra benefits than 3rd party, fire and theft because somebody considering fully comp was presumably thought to be lower risk.

[MikeR]

at my last renewal I dropped a big hint that I had noticed the rises on my policies ( 2 cars and house ) all with same company ...

 

and surprise surprise ,

 

a deal was struck involving a discount which got me down to 200 notes for the year on the Focus ,

 

10k a year mileage limit  , of which I have done about 6k so far  , I dont expect less than 200 , that must be at the lowest  limit ..

 

only had one claim years ago  , a wall jumped into the side of the car in a car park , will never claim again if circumstances allow ...

[Jerzy Woking]

My insurers (Sheilas Wheels) mirrored my 40+ years no claims bonus on the 24 year old 954cc Citroen AX. Which is still 80% of what I pay for my highly modified Saab.

 

The wonders of insurance

[leanycan]

It’s that time of the year again and low and behold my insurance company have decided to bump my insurance up by at least 50%. Several factors are going against me, under the age of 25, with a car that’s in a relatively high insurance group and the fact I’ve got 3 points on my licence.

 

Considering just getting a cheap 1.0 - 1.3 car as insurance quotes are so much more cheaper.

 

Any suggestions for people who have got points on their license and what insurance companies will offer decent quotes.

 

 

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[Simonsays]

I'd start by negotiating with my existing insurers. Theres bound to be some wiggle room in their renewal quote. They just chance their arm with a high initial offer because there's always a percentage of folks that'll just renew with no questions asked

[doubleyeller]

You might as well just run a quote through the comparison sites and see what comes up. So you really want to get shut of such a good car as that Lancer to buy a heap of shit 1.3? Because that's all what selling the Lancer will allow you to afford.

[GrumpiusMaximus]

I'm afraid to say that you're just the wrong age for the market.  They don't want to insure you and those that do will be expensive.  You have multiple things working against you and most people in your position would have to opt for a 1.0 litre with a black box.  It's not just you.  And the points on your licence really ramp things up as they push your risk category right up.

 

I know, it sucks.  Unfortunately that's just how it is.  Try the comparison sites, give your insurers a ring.  The worst that you can do is the quote you've been given.

[leanycan]

You might as well just run a quote through the comparison sites and see what comes up. So you really want to get shut of such a good car as that Lancer to buy a heap of shit 1.3? Because that's all what selling the Lancer will allow you to afford.

On average insurance companies are quoting me around £1000. It seems steep but I’ll need to double check tonight.

 

 

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[Stinkwheel]

Exactly what is said above, negotiate with your current insurers. When my van insurance was due earlier in the year the renewal was about double the previous year had been. I phoned up and said they were not very competitive, person on phone asked what it needed to be, I said about what it was last year, so they did it at what it was last year. They just push their luck to see if you simply pay up.

 

 

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[GrumpiusMaximus]

Compared to what some of the 18-year-olds at work pay for their insurance, £1,000 doesn't seem that bad...

[Simonsays]

Have you tried adding an experienced driver with a clean record to your policy?

 

Adding me to my sons policy saved about 700 quid for a years premium

[cort1977]

I know, it sucks.  Unfortunately that's just how it is.  

 

It doesn't have to be like that though, plenty of other countries manage to regulate the insurance market such that costs are reasonable. 

 

In New Zealand for example instead of allowing gouging insurance companies to make a profit from a statutory requirement  the government runs a scheme for medical costs on a non-profit basis.  The scheme is managed by the Accident Compensation Corporation (ACC), and is funded from vehicle registration and fuel taxes.  Insurance costs are reasonable and whiplash cases are usually genuine.

 

Not having a dig but we shouldn't just accept 'that's how it is', the UK government forces us to deal with these insurance thieves.

[GrumpiusMaximus]

I don't disagree with you at all, Cort.  It's just getting our government to regulate anything is the antithesis of their approach to free-market capitalism, even if it puts ordinary people at risk...

[Aston Martin]

Call them and tell them that X is half the price and they'll miraculously lower the bill.

 

They assume people will just pay the renewal price.

[Scruffy Bodger]

Have you tried adding an experienced driver with a clean record to your policy?

Adding me to my sons policy saved about 700 quid for a years premium

What he said, definitely worth a try.

[Junkman]

Pooshow 405 Renewal Offer from AF: 645.10 - limited mileage 7,000, no business use, no driving other people's cars, no NCB, etc.

Direct Line Offer: 273.50 - unlimited mileage, business use included (not that I need it, mind, it just is), driving other people's cars okay, earning NCB, etc.

 

Guess whom I told to sod off.

[AMC Rebel]

It doesn't have to be like that though, plenty of other countries manage to regulate the insurance market such that costs are reasonable. 

 

In New Zealand for example instead of allowing gouging insurance companies to make a profit from a statutory requirement  the government runs a scheme for medical costs on a non-profit basis.  The scheme is managed by the Accident Compensation Corporation (ACC), and is funded from vehicle registration and fuel taxes.  Insurance costs are reasonable and whiplash cases are usually genuine.

 

Not having a dig but we shouldn't just accept 'that's how it is', the UK government forces us to deal with these insurance thieves.

 

 

I don't disagree with you at all, Cort.  It's just getting our government to regulate anything is the antithesis of their approach to free-market capitalism, even if it puts ordinary people at risk...

 

 

It's not just the corporate thieves - we are all paying a significant amount to insure all the twats who don't bother paying for insurance, the twats who claim all sorts of fraudulent shite and the ever increasing Insurance Premium tax which one party slagged off as a "stealth tax" but they all seem to have managed to carry on jacking up.

[AMC Rebel]

Oh, and I just got Direct Line to knock £171 off my renewal by ringing up   Annoying there's no reward for loyalty as I do quite like them but that seems to be how it is.

[Tadhg Tiogar]

Pooshow 405 Renewal Offer from AF: 645.10 - limited mileage 7,000, no business use, no driving other people's cars, no NCB, etc.

Direct Line Offer: 273.50 - unlimited mileage, business use included (not that I need it, mind, it just is), driving other people's cars okay, earning NCB, etc.

 

Guess whom I told to sod off.

CX's insurance due in November. Wonder what Admiral will quote me this time round.....?

[New POD]

I can't for a second think why that would be but I'll give it a try, thanks.

because the statistics show that people who have to buy TPF&T are more likely to have third parties claiming against them.

And only a few companies who specialise in insuring high risk owners previously banned for drug and drink driving actually offer it. So you are only looking at 1/10 of the companies out there.

[New POD]

Wife's insurance is coming up for renewal. I might see how much to add daughter to policy (22 yeae old Pharmacist with her own car)

[fordperv]

My insurance came in at over double last year at £598 enquired elsewhere got a quote of £276 exact same details rung back to cancel my renewal and it dropped to £270

[FakeConcern]

Funny this thread should re appear today as my daughter was renewing her insurance. Her renewal was over £790 but Confused found several companies (including her current one) offering £400 so we phoned them up and (after a certain amount of fannying about) they matched it. Why not just give a competitive quote in the first place?

[vulgalour]

My insurance renewal came through for the Rover and bizarrely it's only an increase of £10.  Usually it's a huge increase at renewal and I have to change insurers as a result, but maybe not this time.