Blimey, Insurance Renewal Has Gone Down.

+1
Mine is about a ton less. No logic, but I'm not complaining.

I believe the runaway pricing has lost its puff because loads of owners throughout the motoring public have said enough is enough and started to shop around.

This must have lead to numerous insurers giving outrageous renewal figures getting dropped so that they are running out of business. Maybe the industry has become competative again......maybe price fixing like the bank lending rate scandal has stopped?

4 examples in the last 4 months.....

• My motor trade renewal in 2011 was £1295.00, different company in 2012 was £795.00
• 700cc Yamaha Raptor Quad quote in 2011 was £395.00 which I rejected, renewed in 2012 at £245.00
• Yamaha 1200 V-Max in 2011 was £77.00, 2012 renewed for £66.00

and the final gem, for my sons bike insurance....

He patiently waited for 7 weeks with his new Suzuki Bandit 600 in my garage so he had a full 2 years no claims, and his insurers quoted £1600.00 to renew his policy from his Honda 400 to the Suzuki 600. He went elsewhere for £480.00!!!

The insurers can no longer assume we just renew automatically cos we cannot be bothered to sit on the phone or internet all day to save thirty quid. Nowadays it can be hundreds of pounds and for that, I will eagerly fill in the same online form 20 times.

Or am I just a tight-arse?

8Tech.

People voting with their feet could be a factor as G says.

My initial renewal was almost the same price, so I rang another company and got it for a lot less. When I told my original insurers I was leaving they matched my new quote to within 5 quid.
I still swapped companies on principal, as they shouldn't have been greedy and should have quoted me their best price on the renewal.

Zitat

Quote:
Originally Posted by 8Tech
I will eagerly fill in the same online form 20 times.
8Tech.

I just use Confused.com, you only fill in once and then watch all the quotes roll in. Easy.
__________________
93 850 CSI
hung like Einstein, clever as a horse

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Direct line for one is not on there, they were the ones I went with this year.

As far as I know, the only two mainstream insurers not on the comparison websites are Aviva and Direct Line.
Specialist insurers and individual underwriters aren't there either, but that's no surprise.

As an aside, the latest "unfair" practice to watch out for is being championed by Elephant/Admiral and some other insurers that "support" younger drivers. My son's premium went up by £400 when our neighbour reversed into his parked car. He didn't have to claim as the neighbour's insurers admitted full liability - but his premium still went up.
The ombudsman has confirmed there's nothing we can do. I had wrongly assumed that as the £400 was a direct financial loss due to the accident, the liable party would be, well, liable. Shopping around insurers that would offer cover didn't help as they were more than £400 more expensive.
While my middle age brings ever cheaper insuance, it's not a good time to be 20, male and a driver!

Zitat

As an aside, the latest "unfair" practice to watch out for is being championed by Elephant/Admiral and some other insurers that "support" younger drivers. My son's premium went up by £400 when our neighbour reversed into his parked car. He didn't have to claim as the neighbour's insurers admitted full liability - but his premium still went up.
The ombudsman has confirmed there's nothing we can do. I had wrongly assumed that as the £400 was a direct financial loss due to the accident, the liable party would be, well, liable. Shopping around insurers that would offer cover didn't help as they were more than £400 more expensive.
While my middle age brings ever cheaper insuance, it's not a good time to be 20, male and a driver!

Doe's not surprise me, they are all bandits!

That is like the "protected NCD", yes protected, we still allow you your earned NCD, but we will load you because you were involved in an accident, regardless of fault.

Also watch multi car policies as a claim by one driver can affect the others.

Zitat von ukzero;102954

it's not a good time to be 20, male and a driver!

I certainly wish I was a 20 year old again!!

Male hasnt changed and the driver bit would still be bikes.

The girls would still be teenagers and I wouldnt be considered a dirty old perv for looking.

8Tech.

Zitat von e31gixxxer;102776

People voting with their feet could be a factor as G says.

My initial renewal was almost the same price, so I rang another company and got it for a lot less. When I told my original insurers I was leaving they matched my new quote to within 5 quid.
I still swapped companies on principal, as they shouldn't have been greedy and should have quoted me their best price on the renewal.

Good for you! A company that rips you off until they get rumbled, then pricematch to get your money dont deserve the business. On principle, I would have paid £5 more and gone elsewhere.

8Tech.

Performance Direct have come good for me again.
Last years premium was somewhere around 370 - [down from 440 ish]
This year they only want £280 which in C London is a bargain... that's half what the Volvo costs to insure..

I'm putting the Volvo up for sale any week now in case anyone wants a late 2008 V70 LUX!
Looks like the 8 is going to become our only vehicle again for a while...damn!

Zitat

[INDENT]Performance Direct have come good for me again.
Last years premium was somewhere around 370 - [down from 440 ish]
This year they only want £280 which in C London is a bargain... that's half what the Volvo costs to insure..

I'm putting the Volvo up for sale any week now in case anyone wants a late 2008 V70 LUX!
Looks like the 8 is going to become our only vehicle again for a while...damn! [/INDENT]

Good news b!

Same story here, down a few quid.

Also, I have just had a quote from Classic Line insurance of £289 on a classic policy that uses no NCD. The 8er is now 16 years old and sneaking in to some classic criteria.

I may have to do some juggling of policies as my T5 has gone to my mate that needed a car in a hurry, which means I am looking for something new. The NCD needs to go on the new car as they won't even quote without a min. 2 years NCD, won't mirror it either.

£175 Trinity Lane Via Adrian Flux I mean even I was shocked on an 850 CSI does not use NCD. Classic policy limited miles 3k pa.

Zitat

[INDENT]£175 Trinity Lane Via Adrian Flux I mean even I was shocked on an 850 CSI does not use NCD. Classic policy limited miles 3k pa. [/INDENT]

There seems to be little equity on these things, flux was over £400 for me on classic?

On the question of insurance, how many of the above quotes recently posted are on the basis of the 8 being a second vehicle and how many with the 8 as the sole car in the household? I was with Hagerty with the 8 as my second vehicle for a premium of £330 fully comp. Now though the 8 is currently my sole car (having got rid of the thirsty unreliable Range Rover P38) and I'm looking for a replacement insurance - Hagerty told me last year they wouldn't do it on the basis of sole vehicle. Cheers.

Zitat von Argonaut;113910

On the question of insurance, how many of the above quotes recently posted are on the basis of the 8 being a second vehicle and how many with the 8 as the sole car in the household? I was with Hagerty with the 8 as my second vehicle for a premium of £330 fully comp. Now though the 8 is currently my sole car (having got rid of the thirsty unreliable Range Rover P38) and I'm looking for a replacement insurance - Hagerty told me last year they wouldn't do it on the basis of sole vehicle. Cheers.

A gentle bump here, anyone got any feedback they could share? Thanks!

Back in 2002 -5 when I did use the 8 as a daily driver I just went with the most competitive quote I could get. At the time I used a broker named Livingstone Warman who have some experience with cherished vehicles and from memory, I still managed to get an agreed sum insured as opposed to 'market value' which is the downside of most insurers. It really all depends on the mileage you are going to do; if you only do 100 miles a week you could still get a restricted mileage policy which will bring the price right down, but if like me you do 4/500 miles a week you are not going to have much of a cherished car left in a few years. Is it out of the question to get a cheap run around as your daily driver?

Cheers
Graham

Zitat von Argonaut;114151

A gentle bump here, anyone got any feedback they could share? Thanks!

Our cheap classic cover is 100% dependent on having a primary car which (in our insurer's case) they always seem to assume is the 'daily' car when thats not always the case. We're supposed to tell them if we ever sell the 'main' vehicle, or indeed 'buy or sell any vehicle' - but seeing as they never asked me the details eg reg mark of the other car, how will they ever know that we've swapped that one out once already and even had a couple of months where the 8 was our only vehicle?
But I do believe that in the event of a claim they would be all over us to prove we have a daily driver, hence if i'm ever going back to single car ownership again i probably would notify them and take a (hopefully small) hit.