Insurance is a JOKE

[SpikyMikey]

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.

Other than the fact that they make it up as they go along, there is an interesting factoid on Martin Lewis's website re car insurance:

The cheapest time to get quotes is 23 days ahead of your renewal date – cover becomes more expensive the closer you get

Our analysis of over 70 million quotes from the four biggest comparison sites – Compare The Market, Confused.com, Gocompare and MoneySupermarket – showed a policy costs an average of £1,198 a year on renewal day. But 23 days earlier the average is just £694 a year, a MASSIVE £504 difference.

 

[ALFAitalia]

Must be a postcode thing.....my car (Alfa 159) was £21 more than last year....my wife's (A Class) was £20 more.....as that's not a lot more than inflation we both just let them auto-renew.

 

[Bobby Dazzler]

Must be a postcode thing.....my car (Alfa 159) was £21 more than last year....my wife's (A Class) was £20 more.....as that's not a lot more than inflation we both just let them auto-renew.

How long ago was that?

 

[ALFAitalia]

April and last month.

 

[HappytalkAgain]

Must be a postcode thing.....my car (Alfa 159) was £21 more than last year....my wife's (A Class) was £20 more.....as that's not a lot more than inflation we both just let them auto-renew.

You’re probably known to them. Gave you cheap so as to avoid you phoning them up!!!

 

[ALFAitalia]

Lol.....I'm with Flux. Calling them is bit like trying to contact the dead.....not easy. Also, on their website, they don't have any way of getting a cost estimate of a new car your might be looking at.....so every time I have an interest in a certain model I have to call them.....just wasted time for them and me. Just a page where you can get an idea of the cost would be great.

 

[Cherrypd]

Yesterday I was looking at a E350 (2010) 3.5 petrol. I did an insurance change quote and it was an extra £46. Didn't get 5he car but today I've purchased a E250 (2010) and the increase is £100.74!. No idea how Admiral c9me up with that but its still cheap overall.

 

[Spider10]

I just contacted AF to price up an F-type 30l S swop over from the c63 came back at £35 Admin charge £10 overlap and £9 difference between

 

[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!

I am losing the will to live!
Swinton £1026
Halifax £754
Email from Halifax, CUE entry for theft claim.
Premium up to £952
Obtained email from previous underwriter confirming no claim made.Sent to Halifax, twice.
Called Halifax spoke to customer service agent.Told that my letter of proof was unacceptable. When asked to say which letter, (I had sent 2) she could not say!!
Premium up to £1444. The reason was varied and ridiculous
Asked for email confirmation, told that they dont work like that as they are paperless!!!!!! Refused to accept quote without email confirmation. The lady informs me that calls are monitored and recorded and that should suffice. I laugh hysterically so she goes away and "consults" Returns to tell me that an email will be sent on Tuesday "as she will not be there Saturday or Monday" call finished at approx 10:30.
At 10:41 this arrives: I strongly suspect that these "agents" are on a commission to inflate premiums by pressurising the customer and getting verbal acceptance over the phone.

We're writing to you to confirm the details of our recent conversation about your claims history. As you have advised us that the records on the Claims Underwriting Exchange (CUE) insurance industry database are incorrect, we have not applied the claim(s) we discussed to your policy. However, should you need to make a claim in the future and it's proved that the claim should have been applied to your policy, your insurer may only pay you a percentage of the claim value, or in some cases, may not pay you anything. This communication is confirmation that you understand and have accepted these possible consequences. Please refer to your Statement of Insurance in the latest version of your policy documents for details of the claims that are included on your policy and to the communications we've sent you recently for the CUE claims differences that we found. Most other insurers will check the CUE database when you buy a policy from them or when you make a claim. If any incorrect claims are still recorded, these will show up again on any searches for you or named drivers on your policy. We recommend that you contact the relevant insurer to have these records updated to avoid any issues if you renew your policy with another insurer in the future. If you have any queries, you can contact us by either logging in to your Self Service Centre and using our Webchat option, or by calling our Customer Services Team on 0344 209 0471. Our opening hours are Mon-Fri 8am-8pm, Sat 8am-6pm, Sun 10am-4pm

So back to £754 I assume.

 

[Fununcle]

Sad day today, my insurance has gone up and broken the £300.00 barrier for the first time in my life.
£306.00 up £13.00 from last year.

 

[Bobby Dazzler]

Junior D’s boyfriend had a shock today. His renewal with Sainsbury’s has gone up from £1050 to £2450 with no change in circumstances despite an EXTRA year of No Claims Bonus

He’s 20 years old and will have 2 years NCB later this month, insuring an early noughties Fiesta which is in great condition but cost him just £400. Imagine if his NCB hadn’t gone up.

I’ve been talking him into an MX5 for a while now and this might be the catalyst to overcome his hesitancy. He got a quote on a newer MX5 last weekend, just £1450, so £1k less than the Fiesta!

 

[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).

View attachment 145106

Searched the 3 compartment sites today. Shocked to find that none could even match my renewal quote. So £246.92 it was.

 

[clk320x]

Searched the 3 compartment sites today. Shocked to find that none could even match my renewal quote. So £246.92 it was.

Is that per month or year?

 

[AMGeed]

Brother had his quote come in for his Range Rover.
Almost doubled to £760.
Reckons he'll sell it before next renewal.

 

[HappytalkAgain]

Is that per month or year?

Annual Abs.

 

[Bobby Dazzler]

Annual Abs.

Location really helps insurance premiums, and there are few places nicer than your neck of the woods Ant

 

[HappytalkAgain]

Location really helps insurance premiums, and there are few places nicer than your neck of the woods Ant

I know Rob. I’m just being a tight bugger. It was £188 last year.

 

[MikeInWimbledon]

Junior D’s boyfriend had a shock today. His renewal with Sainsbury’s has gone up from £1050 to £2450 with no change in circumstances despite an EXTRA year of No Claims Bonus
He’s 20 years old and will have 2 years NCB later this month, insuring an early noughties Fiesta which is in great condition but cost him just £400. Imagine if his NCB hadn’t gone up.
I’ve been talking him into an MX5 for a while now and this might be the catalyst to overcome his hesitancy. He got a quote on a newer MX5 last weekend, just £1450, so £1k less than the Fiesta!

I know it seems irrational, but methinks he's getting clobbered because of the reputation of young Fiesta drivers, and thieves. We've seen something similar on Corsa renewals for young drivers.

"Duller" cars like the Mx5, of which I'm a fan, or anything less mainstream, may well be cheaper than the Fiesta beloved by us all. He might laugh but a Panda 100hp might be worth a look, or the smaller Japs. At the end of the day, they're not assessing him for risk, they're assessing people of his age who drive those cars.

Back to basics, he should try to include someone older, or a "girl" on the policy, even if they never drive the wretched thing. "Computer usually says" quote is lower with others on the policy.

That said, in any case, always try to negotiate, because insurance companies nail existing customers on renewal. It's called inertia pricing. If challenged confidently, they will crumble.

 

[HappytalkAgain]

Searched the 3 compartment sites today. Shocked to find that none could even match my renewal quote. So £246.92 it was.

*Comparison Sites

 

[Bobby Dazzler]

I know it seems irrational, but methinks he's getting clobbered because of the reputation of young Fiesta drivers, and thieves. We've seen something similar on Corsa renewals for young drivers.

"Duller" cars like the Mx5, of which I'm a fan, or anything less mainstream, may well be cheaper than the Fiesta beloved by us all. He might laugh but a Panda 100hp might be worth a look, or the smaller Japs. At the end of the day, they're not assessing him for risk, they're assessing people of his age who drive those cars.

Back to basics, he should try to include someone older, or a "girl" on the policy, even if they never drive the wretched thing. "Computer usually says" quote is lower with others on the policy.

That said, in any case, always try to negotiate, because insurance companies nail existing customers on renewal. It's called inertia pricing. If challenged confidently, they will crumble.

Definitely, I’ve been encouraging him for a while to find a car that 20 year olds don’t buy, and therefore don’t claim against, on the basis that a genuinely fast car may not be that more expensive than the predictable choices for a lad of his age. I found that with my first few fast cars and very fast cars, nobody else like me was buying and insuring them.