'Comedic' renewal pricing - Churchill

[BandyAndy]

Mrs Spiky is always right because, bless her, she really is always right! Dunno how she does it

I think I married Mrs Spiky's sister

 

[sgregory124]

Bit of an update. Spoke to A-Plan this morning, their cheapest quote was in excess of £1000 and topped out at £1400 ......waiting on one other independent firm before I have the inevitable call with Churchill.

 

[sgregory124]

Final update, the other ‘specialist’ insurer couldn’t get lower than £1100, which is laughable considering their adverts.

Churchill instantly lowered their quote to £677, but only after I pointed out they were showing the same policy on CTM for £700. Very disappointing they feel the need to rip their customers off at every available opportunity.

Anyway, result! Until next year….

 

[Harrythedog]

Could this be part of the reasoning in insurance price hikes ?

The Telegraph

digitaleditions.telegraph.co.uk

 

[GP801]

Just had the renewal for the SLK. £209 compared to £238 last year. Renewed the CLK last month for £188 - exactly the same as the previous year. Not sure why ours buck the trend. Maybe we are in that sweet spot where premiums reduce as you get older but not so old they rise again.

 

[Germgh0st]

Final update, the other ‘specialist’ insurer couldn’t get lower than £1100, which is laughable considering their adverts.

Churchill instantly lowered their quote to £677, but only after I pointed out they were showing the same policy on CTM for £700. Very disappointing they feel the need to rip their customers off at every available opportunity.

Anyway, result! Until next year….

Put themselves on a hole there, because they can't say 'oh that's for new customers' anymore. I had that a year or so ago with the AA.

 

[markjay]

Could this be part of the reasoning in insurance price hikes ?

The Telegraph

digitaleditions.telegraph.co.uk

From the article:

"Insurance costs could soar because of safety guidance over the danger posed by damaged batteries

ELECTRIC cars that sustain minor bumps are being kept 15 metres apart in repair yards over fears they might explode, adding to insurance bills."

Sounds like scaremongering... firstly, note that they say "could' (i.e., it hasn't happened yet), and then even if it does eventually materialise, the cost will be incurred by EV owners via premium increase, the insurance industry are very good at allocating risk to customer's circumstances.

So not really related to the usual insurers' shenanigans regarding upping the price at revewal time, even though there's regulation in place that is meant to prevent this from happening.

 

[Harrythedog]

From the article:

"Insurance costs could soar because of safety guidance over the danger posed by damaged batteries

ELECTRIC cars that sustain minor bumps are being kept 15 metres apart in repair yards over fears they might explode, adding to insurance bills."

Sounds like scaremongering... firstly, note that they say "could' (i.e., it hasn't happened yet), and then even if it does eventually materialise, the cost will be incurred by EV owners via premium increase, the insurance industry are very good at allocating risk to customer's circumstances.

So not really related to the usual insurers' shenanigans regarding upping the price at revewal time, even though there's regulation in place that is meant to prevent this from happening.

While accepting your (as always) reasoned reply I’ve heard from different sources the costs involved in repairing damaged Tesla’s owing to the length of time it takes for costly replacement parts, sometimes running into months whereby a replacement vehicle needs to be provided. A very costly outcome

 

[colinallcars]

Nope, she reduces the risk on the policy.

Everyone should get a spare female, if they don’t have a wife available.

Just as for new drivers: if you include an experienced driver on the policy, regardless of whether they actually drive, the quote will “usually” go down.

My daughter uses me and my wife for that purpose, neither of us ever drive her car but it saves her just over £100.

 

[D2028]

My daughter uses me and my wife for that purpose, neither of us ever drive her car but it saves her just over £100.

I never could understand that approach by insurance companies. Surely the more drivers a vehicle has the more mileage that vehicle will travel. The higher the mileage the greater the chance of an accident .

 

[colinallcars]

I never could understand that approach by insurance companies. Surely the more drivers a vehicle has the more mileage that vehicle will travel. The higher the mileage the greater the chance of an accident .

But that’s why they make you declare mileage for the vehicle.

 

[D2028]

So do you have to declare mileage for each individual driver then?( that’s rhetorical btw)

 

[Trickythemerc]

Maybe I should borrow my mates wife and put her on my renewal and see if it brings the premium down. Or should I just invent a wife ???

 

[D2028]

If you do invent one make sure you don’t put her name on the house deeds….don’t ask me how I know.

 

[markjay]

I never could understand that approach by insurance companies. Surely the more drivers a vehicle has the more mileage that vehicle will travel. The higher the mileage the greater the chance of an accident .

But that’s why they make you declare mileage for the vehicle.

So do you have to declare mileage for each individual driver then?( that’s rhetorical btw)

Once you declare the total annual mileage as colinsllcars said, the insurer's assumption is that if there are other named drivers on the policy then they will be sharing some of the declared annual mileage.

If the other named drivers have a higher risk profile (due to their age, length of time they held a driving licence, previous traffic offences , claim history, profession, etc), then premium will go up.

If their risk profile is lower, then the premium will go down.

Adding your kids will likely increase the premium, adding your wife will likely reduce it (assuming she has a clean driving license and no adverse history etc).

I'd recommend against adding to the policy a named driver that never actually drives the car, just for the purpose of reducing the premium. Of course, it's possible to add a driver with the intention of them using the car, while in fact they never did due to circumstances etc. Still, it's best to just make sure that all named drivers do drive the car, at least here and there. This will ensure that there's no possibility of the insurer raising any doubts around this issue in the event of a claim.

 

[DSM10000]

I never could understand that approach by insurance companies. Surely the more drivers a vehicle has the more mileage that vehicle will travel. The higher the mileage the greater the chance of an accident .

That doesn't make sense.

Only one person can drive at any one time and the vehicle is then not available to any other named drivers.

We are both named on the policy for the Bentley owned by C's father in law as is her mother, I have driven it no more than 3 times in 4 years.

They are also named on our policies for the MB, RR, Mazda and BMW.

 

[D2028]

That doesn't make sense.

Only one person can drive at any one time and the vehicle is then not available to any other named drivers.

We are both named on the policy for the Bentley owned by C's father in law as is her mother, I have driven it no more than 3 times in 4 years.

They are also named on our policies for the MB, RR, Mazda and BMW.

So which is more likely , 1 driver covering 5000 miles in a year or 3 drivers covering 1,666 miles each.

 

[DSM10000]

So which is more likely , 1 driver covering 5000 miles in a year or 3 drivers covering 1,666 miles each.

Named drivers are the ones that tend cover the greater mileage.

 

[UrbanM]

Just had the renewal through for my C63S from Churchill this morning - frankly its worthy of an Oscar for comedy.

My premium has gone up a full £202 to £808 for the year.....thats for a 46 year old, 12,000 miles a year, car parked on the drive, with a £900 combined excess and 1 additional driver. No convictions and no claims etc etc... Also, we have another car insured with them, so I feel they are really taking the Micheal here....

Is it just me or have prices risen at a mad rate this year? Worse still, a quick check on compare the market shows that Churchill are the cheapest anyway at £770 for 'new' customers!

*Sigh* Yet another waste of my time whilst I threaten to leave them and they offer me a few crumbs/quid off and spin me the old 'prices have risen across the board' etc etc....

61 year old. Driving C220 PP. A good few years old. Increase from £400 to £800 with Churchill. Comparison sites were higher and with unknown companies. Sigh

 

[HappytalkAgain]

Had the renewal through for my van: £288.00 (£258 last year).

Just had a half hour on the computer on the 3 main comparison sites and best I got was £480!!!

Needless to say I snapped up the renewal pretty sharpish.