Insurance companies make no sense

Discussion in 'Insurance & Finance' started by MarriedBlonde, Feb 5, 2014.

  1. MarriedBlonde

    MarriedBlonde Active Member

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    Last year when I bought my C63 I was suprised to find it was cheaper to insure than my e350 convertable it replaced.

    Aviva were the cheapest by a mile and quoted me around £450.

    This year this has risen to £1050!

    A little look around and I can get cover for £335 from Churchill. And this is with a lower excess as well.

    How can 2 main insurance brokers differ so greatly. I just dont get it.

    I've managed to get the wifes new ml insured £350 this year. £200 less than last year.

    Baffled.
     
  2. developer

    developer MB Enthusiast

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    It's a strange and unfathomable business.

    My 6.2 petrol was 1/2 my 3.0 diesel at renewal this year (also Aviva) :dk:.
     
    2 people like this.
  3. OP
    OP
    MarriedBlonde

    MarriedBlonde Active Member

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    Perhaps fast cars are safer :)
     
  4. developer

    developer MB Enthusiast

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    Perhaps they have established that we are MBClubUK members and are, therefore, of the finest pedigree ;).
     
  5. whitenemesis

    whitenemesis MB Club Veteran

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    Nah, they would have doubled the premiums!!
     
  6. TJR

    TJR Active Member

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    happens every year without fail...... been with Admiral for quite a few years now and every renewal tops £1000 (2 cars), but always end up halving the cost after a phone call. I guess they try it on in the hope you won't look at the new rate and it automatically renews :wallbash:

    just over £400 for my C63 this year :thumb:
     
  7. Sp!ke

    Sp!ke Administrator

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    I had the same this year with Aviva.

    They wanted £670 for my R129... got it down to £240 with direct line.

    I am having other concerns in that Aviva seem to only go up to 6 years NCD. So whilst I should have 10+ years, Aviva NCD proof only says 6.
     
  8. RWDpetrol

    RWDpetrol Active Member

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    A friend in the industry told me that every 3 years insurance companies sell on the risk to another, and that one ends up baring the brunt and having the highest premiums. Add to this, that many insurance brands are owned/underwritten by the same parent company eg Directline, Churchill, Natwest, RBS, all by UK Insurance Ltd and you get the effect that when you shop around, most are similarly priced but one 'other' stands out as too expensive or bizarrely cheap.

    Moral - shop around every year.
     
  9. OP
    OP
    MarriedBlonde

    MarriedBlonde Active Member

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    Hmmm that could be interesting. As both my wife and I are with Aviva and both of us have 10+ years NCB. I am sure somewhere it does say that we have more than 6 years. Better go and check my documents.

    J.
     
  10. whitenemesis

    whitenemesis MB Club Veteran

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    Info from an insurance insider..

    "NCD tends to max out in terms of discount received at 5 years. There are some that track up to 9 years NCD however some of those give less discount at 9 years than others give for 5 years. Some marketing spin obviously."
     
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