Car Insurance premium puzzle

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Skull
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Car Insurance premium puzzle

Post by Skull »

My last premium 49 days ago was £171.12 fully comp 10 years NCB 7,000 miles for me and wife on Xantia S reg 2.1 TD (110) approx 46.9p a day

Today's quote for a change of car was expensive so I asked for a new policy quote same profile but on a Xantia W reg 2.0 HDi (110) approx 99.7p a day

Seems they heavily load the premium on a 'new' car even though they are very similar as in this case.

I would be interested to hear if they would load as much if it was an exact same model / year / value :?:

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Stickyfinger
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Re: Car Insurance premium puzzle

Post by Stickyfinger »

Do they have your post code correctly.....and has your Area been "re-risked" ?
That seems a large step up

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Skull
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Re: Car Insurance premium puzzle

Post by Skull »

That's what I was thinking so out of principle I've cancelled ... they wouldn't even haggle on the price and only halved their £25 Admin Fee .... :roll:

They don't even post documents out, it's all electronic admin

I know I'm probably just hopping between frying pans but they make me :twisted:

110 Hp has never felt so expensive :roll:

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van ordinaire
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Re: Car Insurance premium puzzle

Post by van ordinaire »

Insurance companies (& brokers) move in mysterious ways!

My premium for the C15 is a little more than the total premium on the other 3, presumably because it doesn't have it's own NCB + the Jeep & the Caddy "live" in Devon.

You were right to cancel, companies like the one you were with have to learn that they need us more than we need them & if we not treated right we'll just walk away!

If you're not sorted try a comparison site: the best quote for the Caddy was with LV, with M&S Bank not far behind - both blew all the supposed specialist providers out of the water!
On the other hand, the C15's insured on a specialist policy with Chubb, through brokers who advertise in the Citroen Club mag, whose name I can't recall just now. Like I said mysterious!

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Skull
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Re: Car Insurance premium puzzle

Post by Skull »

van ordinaire

I don't really feel it was right to cancel as they have deducted almost 2/3rds of the years premium in their combined pro rata cover for the 49 days of risk plus cancellation fees so it has hurt me more than them financially.

There isn't a massive difference in my new premium between the more common companies so it's another lucky dip when it comes to the next renewal ....

It was more the increase in all quotes after only 49 days, when I'd spent considerable time chasing a competitive quote ....barstards moved the goalposts

I know you can't always plan these things but the best time to renew insurance is after you've bought your next car...time constraints permitting :roll:

MikeT
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Re: Car Insurance premium puzzle

Post by MikeT »

I too ended up cancelling when I tried to change my policy from Xantia to C5, not only were they asking for a 75% premium increase (with the policy only having 9months remaining), the £50 fee was the final straw.

A few hours later I was getting acceptable quotes from comparison sites and that evening bought a brand new policy... even then it was £30-odd more than I wanted to pay because of the "inherent risk of driving an unfamiliar car". It mattered not one hoot that I have decades experience of all manner of vehicles from motorcycles to cars, vans and HGV's. In all that time, I've been maybe culpable in two low-impact accidents, yet I'm only granted 8 years ncb. :cry:

Hell Razor5543
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Re: Car Insurance premium puzzle

Post by Hell Razor5543 »

Well, my insurance went the other way. It was about £10 cheaper for the C5 with Quote Me Happy than for the Xantia, even though it is more powerful, bigger, more expensive, etc.. Weird!

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Skull
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Re: Car Insurance premium puzzle

Post by Skull »

Yes it seems it must be one of the 'factors' they consider to be the most risky (or lucrative :twisted: ) in driving these various vehicles ... in my case they were both green as well as the same model with the same horsepower quoted. They tried to justify the premium by saying I was also swapping the 'Main Driver' from myself to the other named driver until I pointed out that it was changed by them in error as they hadn't previously amended it on renewal 49 days earlier when I got a bargain of a premium .... I feel for you MikeT and those similarly penalised for having, as I too have had, a wide range of vehicles in my toy box .... whatever that may be worth :roll:

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Skull
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Re: Car Insurance premium puzzle

Post by Skull »

Hell Razor5543 :twisted: spend it wisely .... they've only lent it to you :wink:

rory_perrett
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Re: Car Insurance premium puzzle

Post by rory_perrett »

I changed from a Xantia HDi Exclusive to a Xantia HDi Exclusive two months into my policy and the premium went from £200 to the equivalent of £336 per year. Their argument was that they get more claims on recently acquired cars. This may be true if you have changed to something different and are not used to driving it. I also expect that just after you get it is the time when the car is of most value to you because you have just shelled out a load of money so you might claim for a dent or scrape that you would just live with after you've had the car a few years. I also expect that insurance companies cut premiums to the bone to get your business so have to get it back somewhere, ie mid policy changes. Anyway when I pointed out that the only difference between the two cars was the colour I did manage to get them down to £25 extra at which point I concluded that life was too short and I gave in.

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Skull
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Re: Car Insurance premium puzzle

Post by Skull »

rory_perrett That concludes my theory that they are barstards :wink:

Peter.N.
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Re: Car Insurance premium puzzle

Post by Peter.N. »

I change companies most years as my premium increases every year otherwise. I go onto Confused.com. I have this year however stayed with Rias as their price increase was only marginal and mostly I think due to my passing 75. The 406 in my wifes name was about £130 and the C5 in mine £150.

Peter

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van ordinaire
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Re: Car Insurance premium puzzle

Post by van ordinaire »

"inherent risk of driving an unfamiliar car" - now that's new one on me. Good job they hadn't thought of that when I got the 2CV!

I wrote-off an XJ 6 a few years ago, they settled for only £100 less than I'd paid for it - but then wanted that + 50% (approx) as the premium on a replacement similar car!

When the Jeep's policy came up for renewal after I'd got the Caddy I asked LV for a quote, for fun really, they came in under 1/2 the renewal premium from a specialist 4x4 insurer. You just never can tell.

BUT the C15 was a nightmare, no one seemed to want to insure it as a car, specialist van insurers all asked why I hadn't bought a car, 2 cancelled with no proper explanation & one a very well known (nearly said "reputable") specialist broker never refunded the premium (when I've got the strength I'll chase them for it, meanwhile I consider it a cheap price for a lucky escape). Got good cover now - but £400-odd for a £260 van's just ridiculous!

Do agree about changing most years though, there's no benefit in loyalty, so we all have to be "premium tarts" (no! not a new Mr Kipling product!)

Tried Rias once, I think for house or contents insurance - couldn't get on with them at all (so on my mental blacklist) BUT we all have to speak as we find & in the uncertain world of motor insurance we are all likely to have quite different experiences of individual companies/brokers.

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daviemck2006
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Re: Car Insurance premium puzzle

Post by daviemck2006 »

I have my renault insured with Privilege, which is a branch of direct line. It's still the same policy that I claimed on in December and as well as being the cheapest I couldn't fault them on the claim. Shauns 107 is also with them, as is his 205 gti. It's in my name with shaun as the main driver, and I got an extra 25% multi car discount. When I got my 205 I did a quote ob confused, privileged were the cheapest, at nearly £200. I phoned them, they matched the NCB for the renault, I got 25% multi car discount and a further 25% discount as I am the only driver on 2 cars and they said you can't drive 2 cars at once, so you get this extra discount. It came down to we'll under £100 [emoji4] I can't recommend them highly enough.

elma
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Re: Car Insurance premium puzzle

Post by elma »

I just took identical quotes on the cars in my signature on Confused.com.

Red came out at £319.85 from Octogon
Green was £283.39 from NCI

Interestingly Green would be £304 from Octogon and Red £400 with NCI so estate 1 year newer of same model is cheaper for me.
Prices are stupid though, paying less now on Red than any of those prices.