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Those darn pesky insurance companies again.
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Roadsterstu
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PostPosted: Mon Apr 25, 2011 11:26 am    Post subject: Those darn pesky insurance companies again.  Reply with quote

It's approaching renewal time, my least favourite time of the year. One month to go till the current policy expires, so much ringing around and answering the same bloody questions over and over again.
I'm with Admiral Multicar presently, who quoted a quite excellent price in May last year,  which was 420 quid for the Corsa and the 260.
I have rung them today to add the Volvo and remove the Corsa. No extra charge for doing so, which surprised me really. However, whereas the Corsa was all of £130 last year, the Volvo is £340 this time. Add the 260 and it rises to 840. If I want to pay monthly it's damn near 1000 quid with interest at a disgusting 18.8% APR.
Now clearly the Volvo is bigger, more powerful, etc but as the value is the same as the Corsa, is it really an extra £210 of risk? I mean, do 850 drivers have more accidents than drivers of Corsas? Are they more badly injured? A total loss is still only 500 quid to the company. Does price rise in line with risk or exponentially? And what about the 260,  nothing has changed with regards to that?!
Money-grabbing fucking robbing bastards. And now I have yet more of the dreaded ringing around to do, especially to find a company that will mirror a NCB on a second car. With no NCB, neither car is affordable - the Corsa was 750 quid without NCB!!! (This "you can only have your NCB one one car" thing is something that warrants an investigation).
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Michael
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PostPosted: Mon Apr 25, 2011 11:32 am    Post subject: Reply with quote

There has been a general rise in the cost of insurance which will account for most of the increase.
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Big Blue
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PostPosted: Mon Apr 25, 2011 11:51 am    Post subject: Reply with quote

Michael wrote:
There has been a general rise in the level of inexcusable theft by insurance companies which will account for most of the increase.


FYP
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Roadsterstu
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PostPosted: Mon Apr 25, 2011 1:13 pm    Post subject: Reply with quote

It is legalised racketeering. Something that you have to have by law should be more tightly controlled. But then, it is no coincidence that the banks and insurance companies are so closely linked.
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PostPosted: Mon Apr 25, 2011 9:06 pm    Post subject: Reply with quote

I feel your pain.  Good luck with finding a better quote - Direct Line and Aviva might be your friends with their pricing at the moment.
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Chris M Wanted a V-10
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PostPosted: Mon Apr 25, 2011 9:57 pm    Post subject: Re: Those darn pesky insurance companies again. Reply with quote

Roadsterstu wrote:
It's approaching renewal time, my least favourite time of the year. (snip) the Volvo is £340 this time.

Wait until you get old! My dad is in his 80's and the premium on his V70 D5 is, IIRC, over £500 pa despite an annual mileage of only around 3,000.  When he queried this last year, the insurance company reply was along the lines of "It's a powerful car" (doesn't matter about its age or value) and being "old" you are a bigger risk (slower reaction times, more likely to be taken ill at the wheel and have an accident as a result).

Yup, they're all robbing barstewards
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PostPosted: Mon Apr 25, 2011 10:56 pm    Post subject: Reply with quote

The last policy I bought myself was £350 for my old mk3 golf with full ncd. That was 3years ago and having had 2 serious claims in my company cars since I dread to think what i'd have to shell out if I got my own car again. It's all these accident management companies making a killing on hire car prices that's hurting the industry but it seems to just be legalised fraud.
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Big Blue
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PostPosted: Tue Apr 26, 2011 10:44 am    Post subject: Reply with quote

It is indeed obscene that a legal requirement to have car insurance is not tightly regulated in the manner that, say, telephone charging is. More obscene is the incestuous relationship that exists between the DVLA and the Insurance Industry: soon having an uninsured car that has tax and and MoT parked in your garage will be an automatic fine as the DVLA will use the Insurance Database to raise funds. Until someone challenges the right to have an uninsured vehicle off the road and not SORNd fines will just be paid out.

Basically car ownership is being made as uncomfortable as possible without mass abandonment by a huge revenue stream.
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gonnabuildabuggy
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PostPosted: Tue Apr 26, 2011 12:13 pm    Post subject: Re: Those darn pesky insurance companies again. Reply with quote

Chris M Wants a V-10 wrote:
Roadsterstu wrote:
It's approaching renewal time, my least favourite time of the year. (snip) the Volvo is £340 this time.

Wait until you get old! My dad is in his 80's and the premium on his V70 D5 is, IIRC, over £500 pa despite an annual mileage of only around 3,000.  When he queried this last year, the insurance company reply was along the lines of "It's a powerful car" (doesn't matter about its age or value) and being "old" you are a bigger risk (slower reaction times, more likely to be taken ill at the wheel and have an accident as a result).

Yup, they're all robbing barstewards


Try Saga or confused.com - it halved my Mum's premium.

As ever you always get a better price as a new customer, money is made by ripping of existing customers who can;t be bothered to shop around/move.
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PostPosted: Tue Apr 26, 2011 9:46 pm    Post subject: Reply with quote

Big Blue wrote:
Basically car ownership is being made as uncomfortable as possible without mass abandonment by a huge revenue stream.


Absolutely bang on, and this current Government are making it even more so.  Shame on them.
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Max Headroom
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PostPosted: Wed Apr 27, 2011 5:59 pm    Post subject: Reply with quote

this is an old point made time and again. The govt relies on our unwillingness to give up our cars. If we did it would be a financial catastrophe.

My ins renewal dropped on the mat the other week:

BMW 316i compact. 1998 1.6 litre
me driving: 47, 8 years ncd and 6 points that are over 3 years old.

currently £445 tpft
new price £1151 tpft plus 40.2% apr plus £25 credit arrangement fee. Added to the interest making a true apr of about 55%

15 minutes stroking a meerkat and i got fully comp for £435.

So what in the name of fuck is going on?????
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PostPosted: Wed Apr 27, 2011 6:43 pm    Post subject: Reply with quote

Max Headroom wrote:
this is an old point made time and again. The govt relies on our unwillingness to give up our cars. If we did it would be a financial catastrophe.

My ins renewal dropped on the mat the other week:

BMW 316i compact. 1998 1.6 litre
me driving: 47, 8 years ncd and 6 points that are over 3 years old.

currently £445 tpft
new price £1151 tpft plus 40.2% apr plus £25 credit arrangement fee. Added to the interest making a true apr of about 55%

15 minutes stroking a meerkat and i got fully comp for £435.

So what in the name of fuck is going on?????


Adrian Fux?


I believe Blarno's insurance policies specifically forbid him garaging his car...
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him
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PostPosted: Wed Apr 27, 2011 8:40 pm    Post subject: Reply with quote

With the state of his garage roof, I am not surprised...
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PostPosted: Wed Apr 27, 2011 11:16 pm    Post subject: Reply with quote

Do wonder if insurers are deliberately ramping up renewal prices to get us to shop around and create more competition or just hope some people will be too lazy to change and just accept the increase. Either way they win in the end. Bastards.
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gonnabuildabuggy
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PostPosted: Wed Apr 27, 2011 11:19 pm    Post subject: Reply with quote

Gooner wrote:
Do wonder if insurers are deliberately ramping up renewal prices to get us to shop around and create more competition or just know that most people will be too lazy to change and just accept the increase. Either way they win in the end. Bastards.


FYP - that's why they do it.
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Roadsterstu
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PostPosted: Thu Apr 28, 2011 11:46 am    Post subject: Reply with quote

Renewal landed on the mat, so further to the price increases I already knew about, it seems that for all drivers over 25 there is a compulsory 210 excess and a "voluntary" excess of 250. 460 quid excess on a 500 quid car. All my insurance is ever going to pay out in the event of an accident, is someone else's claim. How utterly disgusting.
This NCD on one car only is the biggest fucking rip off though.
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gonnabuildabuggy
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PostPosted: Thu Apr 28, 2011 2:03 pm    Post subject: Reply with quote

Roadsterstu wrote:
Renewal landed on the mat, so further to the price increases I already knew about, it seems that for all drivers over 25 there is a compulsory 210 excess and a "voluntary" excess of 250. 460 quid excess on a 500 quid car. All my insurance is ever going to pay out in the event of an accident, is someone else's claim. How utterly disgusting.
This NCD on one car only is the biggest fucking rip off though.


Can you take out third party only policies? I'd be happy to do that on the 328 and self insure on any damage to my own car as any claim will:

a) have an excess on it.
b) bump up my premium further.
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PostPosted: Thu Apr 28, 2011 2:06 pm    Post subject: Reply with quote

Can you get the 260 covered on a classic policy?

These don't care about NCB and are generally cheap.

Sprint was £107 including full european breakdown (get you home) cover, I'm waiting for the day the 328 also qualifies.
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Frank Bullitt
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PostPosted: Thu Apr 28, 2011 2:11 pm    Post subject: Reply with quote

gonnabuildabuggy wrote:
Gooner wrote:
Do wonder if insurers are deliberately ramping up renewal prices to get us to shop around and create more competition or just know that most people will be too lazy to change and just accept the increase. Either way they win in the end. Bastards.


FYP - that's why they do it.


Indeed - every year Adrian Flux do a 'we will match it' offer so the premium comes through, I shop around, go back to Flux and they match it and take a few quid off.  Generally it's no more than half an hour of my time to save £100-£150.
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Chris M Wanted a V-10
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PostPosted: Thu Apr 28, 2011 10:10 pm    Post subject: Re: Those darn pesky insurance companies again. Reply with quote

gonnabuildabuggy wrote:
Chris M Wants a V-10 wrote:
Roadsterstu wrote:
It's approaching renewal time, my least favourite time of the year. (snip) the Volvo is £340 this time.

Wait until you get old! My dad is in his 80's and the premium on his V70 D5 is, IIRC, over £500 pa despite an annual mileage of only around 3,000.  When he queried this last year, the insurance company reply was along the lines of "It's a powerful car" (doesn't matter about its age or value) and being "old" you are a bigger risk (slower reaction times, more likely to be taken ill at the wheel and have an accident as a result).

Yup, they're all robbing barstewards


Try Saga or confused.com - it halved my Mum's premium.

As ever you always get a better price as a new customer, money is made by ripping of existing customers who can;t be bothered to shop around/move.

Dad is with Saga, moved there a couple of years ago. Some of the other premiums quoted by other insurers were  well into 4 figures.
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gonnabuildabuggy
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PostPosted: Thu Apr 28, 2011 10:46 pm    Post subject: Re: Those darn pesky insurance companies again. Reply with quote

[quote="Chris M Wants a V-10:374675]Dad is with Saga, moved there a couple of years ago. Some of the other premiums quoted by other insurers were  well into 4 figures.[/quote]

Is all of it insurance premium? My mum's initial renewel payment was double the actual insurance as she got protected NCB, Legal cover, breakdown, etc.

We saved 50% on the actual insurance, ditched the protected NCB (not worth it as they still jack your premium and chances are you'd get a cheaper renewal elsewhere) and saved 50% on breakdown going directly to Green Flag.
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PostPosted: Thu May 12, 2011 3:05 pm    Post subject: Reply with quote

Managed to get the 260 insurance down to either £301 or £252 depending on either 5k or 3k miles repectively.  That is with a specialist classic policy, 100 quid excess and an agreed value based on photos.  Doubt I am going to beat that.

The Volvo, however, is proving a little more tricky - given that it is worth about 6 grand less than the 260 and does barely any more miles, I am struggling to get it below 350 quid at the moment.  This quite appeared at the end of a long list from those Russian Meerkats:


I am tempted to ring them up and go through the quote, for a laugh  
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PostPosted: Thu May 12, 2011 3:44 pm    Post subject: Reply with quote

165 notes if I do the Volvo TPFT.  295 Fully Comp.  Tempted to go TPFT, given that there is a 500 quid excess to get anything even vaguely close to 300 quid for the policy.  That said, is it too much to risk, going TPFT?
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PostPosted: Thu May 12, 2011 3:46 pm    Post subject: Reply with quote

How much was the car?
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Roadsterstu
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PostPosted: Thu May 12, 2011 3:55 pm    Post subject: Reply with quote

£475.  Anywhere from there up to £800 for one in a similar condition.  I think we often over insure ourselves, to be honest - I have personal accident cover and travel cover through an employer's scheme I pay into, so no need for that.  I am not going to claim for my own car with a £500 excess so will have to stand any loss of the car if it is down to me or it gets stolen.  Their risk is, therefore, incredibly low.

EDIT: There is a nil voluntary/£100 compulsory excess with that TPFT quote.
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PostPosted: Thu May 12, 2011 4:03 pm    Post subject: Reply with quote

TPFT - it's not worth spending a penny more on a Bangernomics special.
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PostPosted: Thu May 12, 2011 4:06 pm    Post subject: Reply with quote

Frank Bullitt wrote:
TPFT - it's not worth spending a penny more on a Bangernomics special.


+1

I assume you are also a Driver Trained officer? The liklihood of a 1st party fault accident (ie your fault) must be seriously reduced?
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PostPosted: Thu May 12, 2011 4:19 pm    Post subject: Reply with quote

I am having trouble with the "7 days free drive-away insurance" that BMW dealers offer.

I don't need it myself as I have simply transferred my existing policy from the 330d to the M5, but Vines need it in order to tax the M5 for me.

The nub of the matter is that the M5 has a sports exhaust of some sort (as yet unidentified). Elephant (my insurers) were wholly relaxed about it, other than loading the policy a bit. BMW's insurers won't even quote without knowing what percentage increase in power output the exhaust adds (if any).

Since no one yet seems to know the make of the exhaust this is really rather hard to tell. Vines are trying to find out. So I'm not sure what we can do (my new cover note from Elephant had not, as of this morning, turned up yet).

Not having this info correct would apparently invalidate the policy. My observations that (a) if you sell it, you'd better bloody insure it, and (b) any such invalidation would be entirely irrelevant since we only need a certificate for the sole purpose of getting a tax disc, were not especially well received by the insurance woman.
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PostPosted: Thu May 12, 2011 10:30 pm    Post subject: Reply with quote

Roadsterstu wrote:
£475.  Anywhere from there up to £800 for one in a similar condition.  I think we often over insure ourselves, to be honest - I have personal accident cover and travel cover through an employer's scheme I pay into, so no need for that.  I am not going to claim for my own car with a £500 excess so will have to stand any loss of the car if it is down to me or it gets stolen.  Their risk is, therefore, incredibly low.

EDIT: There is a nil voluntary/£100 compulsory excess with that TPFT quote.


TPF&T. I know from basd experience it's not worth putting in a claim for anything upto £500 anyway as you're premium will go up circa £100-£200 I'd guess (my no fault, no claim incident cost me £60 in theory!) and if you multiply it by 3 yrs then you'll pay more in increased premiums than the claim. Plus you'll br paying the excess.

I'll go TPF&T next year or even TP as I suspect the risk of F&T is neglible.
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PostPosted: Fri May 13, 2011 12:52 am    Post subject: Reply with quote

Almost certainly going to go TPFT. Third party only was more expensive than fully comp, by some way.
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PostPosted: Fri May 13, 2011 10:11 am    Post subject: Reply with quote

Roadsterstu wrote:
This NCD on one car only is the biggest fucking rip off though.


I agree entirely. The bit that stinks most is the double standard which means you can only build NCD on one car but if you make a claim on that same car it then affects anything else you want to insure.
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PostPosted: Sat May 14, 2011 9:58 pm    Post subject: Reply with quote

My renewal has gone up by £200 -  and incredibly it still the cheapest by over £150    
Insurers prefer a unsafe driver to a unsafe postcode
TPFT? -the way premuims are going i'm trying for TP only
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PostPosted: Fri May 20, 2011 8:31 pm    Post subject: Reply with quote

Both cars insured for another year, today. Gone for 3k limited miles on the 260. I will SORN it between November and February or March and see how I go. 252 quid and an agreed value - yet to be agreed but others in the 260s group have good experiences with this policy. Will try for an agreed value of 6k. A comparison site today valued it at 1945 quid, which is likely what any normal insurer would offer.
Volvo done TPFT at 163 quid after my current insurer wanted 380 for the same level of cover. Protected NCD and low excess. Not that I will be likely to claim for myself. Hopefully.
So, not as bad as it could have been, by some way I guess but still an annual arse raping by the insurance bastards - 29.9% APR had I paid monthly, for example. Utterly disgraceful.
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PostPosted: Fri May 20, 2011 9:26 pm    Post subject: Reply with quote

My renewal has...stayed the same as last year.  Quick ring around to see if I can get it cheaper due!
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PostPosted: Sat May 21, 2011 8:13 am    Post subject: Reply with quote

The amusing thing is that the company for the Volvo is ibuyeco. Which I clearly haven't!!!  
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PostPosted: Sat May 21, 2011 10:24 am    Post subject: Reply with quote

Blimey - rang a competitor that has given me comparable quotes in the past, he asked for the details of the mods on the car and even before he asked me any personal details asked what the best quote was so far - told him it was £357 and he point blank said 'take it - we won't get under £400 and nobody else will manage either'.

Another year of Flux it is then!
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PostPosted: Sat May 21, 2011 7:51 pm    Post subject: Reply with quote

Are these mods things like it being chipped?

One thing i do wonder is where they draw the line. My car is on 18" wheels that were an optional extra from the standard 17" but as the car leaft the factory wearing them I wouldn't consider it an upgrade. Would the insurance?
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PostPosted: Sat May 21, 2011 9:02 pm    Post subject: Reply with quote

Michael wrote:
Are these mods things like it being chipped?


Mine is a remap that's declared - my insurance premium was not affected by it although my original insurer refused to cover me as power had increased by more than 25%.

Original factory options is one I always assumed would be automatically covered - however, I use the Skoda Yeti forum and one owner has had cover declined on his new car by his current insurer because he specified the 'off road button' (hill decent control and different settings for the ESP, EBA etc. etc.).  They couldn't be conclusive as to why (...) but it seemed to be down to an intent to off-road in the car; this item comes as standard on some models and people are covered by that insurer when this is the case...?

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PostPosted: Thu May 26, 2011 7:53 pm    Post subject: Reply with quote

Always at the 11th hour i manage to get cheaper quote- still £118 more than last year- but it is FComp rather than TPFT
I'm all for people kicking insurers but there is no point moaning when increased renewal can be beaten  easily in seconds by picking N.E Other Insurance from Yellow Pages
I have to meet people in dark alleyways and hand over brown envelopes  and then meet the Old Witch who lives deep in  the forest at midnight
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gonnabuildabuggy
Nuclear

My Car: Sorted for E's

Joined: 22 Dec 2006
Posts: 12069


Location: Somewhere, rounadabouts

PostPosted: Thu May 26, 2011 8:04 pm    Post subject: Reply with quote

Frank Bullitt wrote:
They couldn't be conclusive as to why (...) but it seemed to be down to an intent to off-road in the car; this item comes as standard on some models and people are covered by that insurer when this is the case...?

Answers on a post card.


Lack of understanding by insurers. Same problem with winter tyres which some people found were being treated as a modification.
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PhilD
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My Car: Fiat Grande Punto Sporting

Joined: 10 Jan 2007
Posts: 15807



PostPosted: Tue May 31, 2011 6:11 pm    Post subject: Reply with quote

I wonder how much money is made by insurers through laziness?

Renewal time for me and as its only up by £2 pcm I’ve had a quick look on comparison websites (all a lot more) and said "oh go on then"

Having recently moved and spent half my life on the phone to various call centres I couldn't be bothered to shop around.

As the kids are inclined to say these days; My Bad.
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Michael
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My Car: is vast.

Joined: 22 Dec 2006
Posts: 10367


Location: On the hill

PostPosted: Tue May 31, 2011 6:58 pm    Post subject: Reply with quote

Haven't you just moved? If so that could make a huge difference depending on how the postcodes compare. I think rahter than thinking how bad you should maybe consider yourself lucky as it seems many others are far less fortunate.
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Alf McQueef
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My Car: XFR / C Max 1.6T Ti

Joined: 05 Jan 2007
Posts: 6827


Location: Winchester

PostPosted: Wed Jun 01, 2011 9:38 am    Post subject: Reply with quote

My two main issues with insurance companies are:

1) The business model, whereby they quote low to reel you in, then massively hike prices in subsequent years in the hope you don't shop around. This seems to have become THE default method for insurance/financial product sales to the general public and it stinks.

2) The utter craziness around modifications. I agree that if you modify the crap out of a base model car to make it more like the hot hatch version then you need to pay extra, but why such a high % increase for a tiny mod that lifts power by a tiny amount, or not at all? Racing's M5 is hardly likely to be a pussycat on the standard exhaust and lethal on the one with, what, 1% more power? This was best expressed last winter with people (foolishly IMHO) telling insurance companies they had fitted winter tyres approved by their car maker, to standard-fit wheels, just a different set - and being asked to pay more!!!

Insurance seems to be one of those "speak to us about anything and we'll raise the price" industries, sadly...
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PhilD
Nuclear

My Car: Fiat Grande Punto Sporting

Joined: 10 Jan 2007
Posts: 15807



PostPosted: Wed Jun 01, 2011 9:48 am    Post subject: Reply with quote

Michael wrote:
Haven't you just moved? If so that could make a huge difference depending on how the postcodes compare. I think rahter than thinking how bad you should maybe consider yourself lucky as it seems many others are far less fortunate.


I've moved from garaged in Nottingham to street parking in London so have assumed it will go up. In fact I changed it just beofre renewal and it was costing me an extra £20 pcm, but that could have been down to playing catch up after suspending the policy while it was off the road (I'm with Admiral and usually you talk to somewhere in Wales but sometinmes in sounds like a call centre in India and the call doesn't go as smoothly.. i gave up trying to find out why it was an extra £20)

Money market etc were quoting £1200, Admiral is about £750. I'm sure if I rang a few places direct they mighty try and beat this, but as I said I couldn't be bothered!
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Michael
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My Car: is vast.

Joined: 22 Dec 2006
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Location: On the hill

PostPosted: Wed Jun 01, 2011 10:26 am    Post subject: Reply with quote

Without being rude, how old are you? That lowest figure is still double what I pay on mine. I'm 31.
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PhilD
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My Car: Fiat Grande Punto Sporting

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PostPosted: Wed Jun 01, 2011 10:28 am    Post subject: Reply with quote

^^

34. Only 2 years no claim though.
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Twelfth Monkey
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My Car: B7 RS4 Saloon, A3 Sportback 2.0T

Joined: 23 Dec 2006
Posts: 14462


Location: The Fortress of Ultimate Darkness; that or the pub.

PostPosted: Wed Jun 01, 2011 12:56 pm    Post subject: Reply with quote

ALF wrote:
Racing's M5 is hardly likely to be a pussycat on the standard exhaust and lethal on the one with, what, 1% more power?


They do, and it's ridiculous.  Mine would have gone from £300-odd to £1,200 if I'd gained the princely sum of 25bhp through exhaust and remap.  I guess that they conclude that having a large horsepower count doesn't mean that you regularly use it all, but that if you want more, you probably do.
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gonnabuildabuggy
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My Car: Sorted for E's

Joined: 22 Dec 2006
Posts: 12069


Location: Somewhere, rounadabouts

PostPosted: Wed Jun 01, 2011 1:05 pm    Post subject: Reply with quote

PhilD wrote:
(I'm with Admiral and usually you talk to somewhere in Wales but sometinmes in sounds like a call centre in India and the call doesn't go as smoothly.. i gave up trying to find out why it was an extra £20)

Money market etc were quoting £1200, Admiral is about £750. I'm sure if I rang a few places direct they mighty try and beat this, but as I said I couldn't be bothered!


If you call Admiral in normal working hours you're generally OK but if you call out of hours it's India. I've given up calling outside hours.

Where you live seems to make a massive difference, Nottingham isn't great but neither is London.

Scampers insurance is the worst IIRC, whilst Twelth's is frankly a bargain.

Hopefully the change in law to continuous insurance might reduce the number of uninsured drivers as as premiums increase the temptation to not insure must be increasing rapidly.
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PhilD
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My Car: Fiat Grande Punto Sporting

Joined: 10 Jan 2007
Posts: 15807



PostPosted: Wed Jun 01, 2011 1:12 pm    Post subject: Reply with quote

gonnabuildabuggy wrote:

If you call Admiral in normal working hours you're generally OK but if you call out of hours it's India. I've given up calling outside hours.



seems to be the case but one call was about 2.30pm. Was trying to get it insured to drive back from the garage. Took 3 calls and about an hour.

One of the calls went like this;

Me " I can't hear you"
Him " but I can hear you"
Me "yes but if I cant here you we can't really do this can we"
Him "but I can hear you fine"

etc etc...
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Michael
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My Car: is vast.

Joined: 22 Dec 2006
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Location: On the hill

PostPosted: Mon Jun 06, 2011 11:27 am    Post subject: Reply with quote

I've just updated my insurance details and got a refund of £6.21!


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