Insurance is a JOKE

[markjay]

..it's an EV issue and only EV drivers should pay the extra insurance to cover it....

My EV is insured with LV, and this is what they sent me:

I am guessing that the premium already takes into account whatever unique costs that may be associated with EVs, including in respect of recovery?

 

[Skd884]

Admiral: Insurance giant hikes prices by 20 per cent to stave off inflation hit

Insurance group Admiral ramped up its prices by 20 per cent in the first half of the year to stave off the worst impact of rampant inflation.

www.cityam.com

 

[SpikyMikey]

Admiral: Insurance giant hikes prices by 20 per cent to stave off inflation hit

Insurance group Admiral ramped up its prices by 20 per cent in the first half of the year to stave off the worst impact of rampant inflation.

www.cityam.com

I'd love to be able to increase my prices by 20% to maintain my profit margin - and my profits weren't anywhere near almost 298 million quid for a 6 month period.
#graspin' b*stards

 

[HappytalkAgain]

Just had my renewal through. I’ll be having an hour on the computer on the comparison sites. (Cause I’m a tight ar5e).

 

[SpikyMikey]

Just had my renewal through. I’ll be having an hour on the computer on the comparison sites. (Cause I’m a tight ar5e).

View attachment 145106

I can't belive it to be true Ant, but I had heard it said that when you open your wallet, the family of moths living inside it put on sunglasses

 

[Dryce]

I am guessing that the premium already takes into account whatever unique costs that may be associated with EVs, including in respect of recovery?

Possibly .... but then premiums are such strange things who really knows?

 

[markjay]

Possibly .... but then premiums are such strange things who really knows?

Well, the renewal invitation just landed in my Inbox today... 50% increase over last year

I wonder if it's because insurers have finally 'wisened up' to the EV repair costs......?

It would be interesting to see what other EV owners experienced.

 

[JHS]

Swinton sent me my renewal £1026.90 up from £532.24. It seems that when you reach 78 you are a senile old fart that cannot be trusted with anything more powerful than a mobility scooter!
Comp sites best is £754 with Halifax.
CK was shocked at the prices that they could offer!

 

[RichWeath]

I phoned my insurance today to get a quote for 2017 M4.
Bear in mind I am 46 years old with 14 years NCB, Clean License never ever got insurance refused, Never ever had any points.
I live in IG11 Post Code..

Quote I got from Chris Knott Insurance £3200
I've been with Chriss Knott for nearly 6-7 years as they been very competitive so far.
Comparison sites are coming around £3500 or around.
I had performance cars most of the times. I really don't understand how this works.

Any tips, at this Rate i won't be able to get C43 AMG or M3 at all.

Not sure if i'm late to the party and going to say what's been said.
I have always added my mother as a named driver 40+ years driving with no accidents or points.
What's the lowest mileage you can honestly get away with.
park on a driveway

i noticed when moving out from my parents house that postcode makes a huge difference, ive recently moved back to the same area and when changing address on my old jag the insurance company refunded £100 on a £450 premium.

 

[RichWeath]

Just to add to that, im now on a multi cover policy with admiral, have my house and my brother in laws house insured, plus the 4 cars from both households, ive found it to be beyond reasonably priced. my 300SL-24 was £280 for the year

 

[fabes]

As stated earlier, the insurers are over stepping the mark and are taking the Michael.

Base costs HAVE gone up.
Salaries of claims handlers etc
Costs of panel beaters / bodywork hourly rates
Cost of parts
Availability of parts
Delays leading to longer courtesy car hire
Increased write off values (cause they cannot get the parts for many months and the hire car charges are racking up)

But they are over adjusting because, .well, they can. ....
My Admiral multi cover went up significantly this year for 'no reason'

It does mean that more people young, old and us in between will opt out of insuring which will further increase the levy and costs to us who do insure

 

[Bobby Dazzler]

As stated earlier, the insurers are over stepping the mark and are taking the Michael.

Base costs HAVE gone up.
Salaries of claims handlers etc
Costs of panel beaters / bodywork hourly rates
Cost of parts
Availability of parts
Delays leading to longer courtesy car hire
Increased write off values (cause they cannot get the parts for many months and the hire car charges are racking up)

The Internet has said for years that the cost of hire cars can write some cars off. With parts delays in recent years that must have had a significant impact either making repairs more expensive or writing off cars which wouldn’t my have been written off.

So many stories of significant increases in insurance costs but I need to wait until October November to find out what will happen to mine. Not looking forward to that.

 

[fabes]

It's the increase in insured drivers that is the unseen impact of this, although not every insured driver is a bad driver and more likely to have an accident, more just a 'bad person'.

The direct penalties are not harsh enough to ensure compliance.

I did come across that chap from London who when changing to a ULEZ car, dropped down the budget scale to free up cash for what he has be told would be his increasing insurance.

 

[ToeKnee]

Currently on a multi car policy due in about 7 weeks, did a quick check online with my current insurers earlier, my vehicle quote has doubled in price, the Micra had trippled! I'm hoping when the actual price comes in they've given me some loyalty discount

 

[Rayny]

Currently on a multi car policy due in about 7 weeks, did a quick check online with my current insurers earlier, my vehicle quote has doubled in price, the Micra had trippled! I'm EXPECTING when the actual price comes in they've given me some loyalty SURCHARGE

Did you by any chance use two incorrect words in your post - I have edited and quoted what I assume you intended to post

 

[Trickythemerc]

My CLK shot up to £510 from £370, not a huge jump but after some negotiation with Adrian Flux, I finished up paying £440

 

[stubax]

Swinton sent me my renewal £1026.90 up from £532.24. It seems that when you reach 78 you are a senile old fart that cannot be trusted with anything more powerful than a mobility scooter!
Comp sites best is £754 with Halifax.
CK was shocked at the prices that they could offer!

 

[stubax]

As my renewal was looming I checked a couple of comparison websites to gauge what the renewal quote would be, was shocked to see that the CHEAPEST quotes were double what I paid last year for less mileage allowance. When the actual renewal came in it worked out at £200 less than the cheapest comparison site price so snatched their hand off before they changed their mind. The insurer is Aviva direct.

 

[Spider10]

Mileage allowance doesn't really make much difference below 5k miles

 

[JHS]

As my renewal was looming I checked a couple of comparison websites to gauge what the renewal quote would be, was shocked to see that the CHEAPEST quotes were double what I paid last year for less mileage allowance. When the actual renewal came in it worked out at £200 less than the cheapest comparison site price so snatched their hand off before they changed their mind. The insurer is Aviva direct.

Cheapest online last week Halifax £754.With legal cover.
Halifax this week £1099. Without legal cover.
Luckily the £754 is valid for 30 days.

Any logic in insurance premiums escapes me.