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I was LV who had been good with my BMW and before buying my 450h I asked them how much my premium would increase by with the Lexus.  They gave me a figure which I thought was reasonable bearing in mind the much higher value of the Lexus.   However, when the full renewal became due, and without any claims or incidents in the interim, they bumped the price up by 51%!!  So having done a search, I went with Saga who where considerably cheaper.  Then when renewal time came they also bumped up their price, although no claims or incidents in the intervening period. So I again I compared the market on comparison sites and went with someone called autonetinsurance.co.uk, part of the autonet insurance group. This turned out to be a broker and they arranged a yet less expensive policy wit Ageas Insurance Limited a well established insurer.  Out of curiosity, I completed my profile for a quote directly with Ageas and this was almost double what autonet gave and which I accepted!!  I know the policy was lodged because Ageas Law are representing me regarding legal expenses in the recent incident where I was rear ended. Strange.

There is a lack of consideration for existing clients in the insurance business who often work on the basis that policy holders will just renew without checking if increased premium is excessive.  Some will lower there quote if you complain and say you are going elsewhere.

Incidentally, I did ask 'A Plan' for a quote on the Lexus but they could not find anything competitive.  I asked them because they were very helpful some years ago when I wanted paperwork at very short notice and I collected from their office somewhere  near Epsom as I recall.  It was for cover on my BMW and 'A Plan' were a Site Supporter of the BMW forum I was on.  So I can confirm they were and probably still are nice people to deal with.

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Another example of insurance "madness"  i have been a very happy customer of Direct Line for many years----2008 Lexus Rx400h, drivers aged 74 and 76, garaged, semi-rural area, £300 total excess, protected NCB and 8 years NCB.

Last year I paid £308.00 and the renewal has just come in at £694.40 !!!!! A phone call to Direct Line elicited the response "I'm sorry but that's the best we can do"

Went on line to Direct Line and got a quote as if I was a new customer----£548.80

Shopped around and ended up with John Lewis Insurance for £384.62 with exactly the same provisions as my previous insurance.

 

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1 hour ago, Lydiamight said:

Another example of insurance "madness"  i have been a very happy customer of Direct Line for many years----2008 Lexus Rx400h, drivers aged 74 and 76, garaged, semi-rural area, £300 total excess, protected NCB and 8 years NCB.

Last year I paid £308.00 and the renewal has just come in at £694.40 !!!!! A phone call to Direct Line elicited the response "I'm sorry but that's the best we can do"

Went on line to Direct Line and got a quote as if I was a new customer----£548.80

Shopped around and ended up with John Lewis Insurance for £384.62 with exactly the same provisions as my previous insurance.

 

That's crazy, surely it makes better sense to keep an existing customer?? Maybe not, but that's what we were told in sales years ago...

I threw my toys out of the pram after my last post and started looking at imported JDM Mitsubishi Delicas for a while. Then confused.com sent me a quote for 400-ish which is much more doable so I'm hunting for a Lexus again. What a palaver! Anyway, lockdown's put paid to current progress but I'm hoping I'll be a fully-fledged Lexus OC member once the plague abates...

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9 hours ago, MrNizibs said:

That's crazy, surely it makes better sense to keep an existing customer?? Maybe not, but that's what we were told in sales years ago...

I threw my toys out of the pram after my last post and started looking at imported JDM Mitsubishi Delicas for a while. Then confused.com sent me a quote for 400-ish which is much more doable so I'm hunting for a Lexus again. What a palaver! Anyway, lockdown's put paid to current progress but I'm hoping I'll be a fully-fledged Lexus OC member once the plague abates...

Hang on in there Lann - - - be patient, research the insurance - it will be possible!   !

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7 hours ago, Illogan said:

Hang on in there Lann - - - be patient, research the insurance - it will be possible!   !

Thanks for the encouraging words Dave 👍

Saw a clean 400h SE-L with only 75k and cam belt already done y'day... it was 05 though which is stretching it a bit unfortunately...

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I've literally just put the phone down after getting a call from my brokers, A-Plan.

I'm currently insured with LV and the lady at A-Plan said that they were still coming up as the best price for me this time (due on 2nd Feb) at £636.70, which is roughly about what I paid last time if I remember correctly.

My wife and I both had business cover but have now both retired so I expected quite a drop in premium and it was a bit of a shock to find out that having business cover or not is making absolutely minimal difference to the cost.

Because we also have our house insurance with A-Plan, she gave me a small discount (just at her discretion) to bring the renewal price down to £598.70.

I thanked her for her efforts and said that I'd get back to her in a couple of days after trying Direct Line, Saga, and one or two others that they as brokers don't deal with.

By the way, this is for a 63-plate RX450h Advance, 11 years protected NCB, and with one SP30 conviction. I had hoped that it would have dropped under £500 after getting rid of business cover - how wrong was I?

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Try getting a quote from The AA on line, then ring them to speak to a living person and ask if they can give you a better price.

It worked with me - it seems they have access to another group of insurers they can call on - I ended up paying just over £400 for a 63 reg RX450 Premier 14yrs protected NCB and business use, drivers 72 and 68 living in Staffordshire, originally over £500.

Also, the earlier you get quotes before the renewal dates, premiums tend to be lower than just days before renewal, it appears the insurers consider you a lesser risk??? 

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8 minutes ago, Ken Crawley said:

Also, the earlier you get quotes before the renewal dates, premiums tend to be lower than just days before renewal, it appears the insurers consider you a lesser risk??? 

Yes, that's true. According to Martin Lewis http://www.moneysavingexpert.com about 21 to 25 days is the sweet spot. Leave it to the last minute and they think you are unorganised and prone to making rash decisions that will translate into your driving.

I'll try that trick with the AA, thanks.

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8 hours ago, Ken Crawley said:

>>>>>

Also, the earlier you get quotes before the renewal dates, premiums tend to be lower than just days before renewal, it appears the insurers consider you a lesser risk??? 

I'll second that, three to four weeks before due date has frequenty appeared to be a "sweet spot" for quotes.

It could show that one is organised, and also less desparate for quotes.

Create your spreadsheet, then look at Compare the Market (etc) and get your quotes in, and also  get quotes from the various insurers for different levels of voluntary excess levels too - and you'll start to appreciate their premium structure.

It'll take a few hours - but it is your money your spending!

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This taking advantage of existing customers is not limited to Insurance.  We have the Radio Times delivered through their Subscriptions people each month and have just received a letter saying the price will be going up to £91 for 6 months of issues.  This was quite an increase, so I checked on Internet and found W H Smith cheaper.  I rang Radio Times Subscriptions on this and they immediately dropped the price to £65 which I accepted.  (It was a little less than W H Smith even).  Seems you need to haggle these days.  Now must look at that subscription to SKY.............

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After some time spent this afternoon:

  • LV renewal initially £636.70 down to £598.70 at discretion of lady at A-Plan
  • Direct Line £506.24
  • AA £541.17
  • Co-op £660.41
  • Saga £675.89

This is for me and the wife, both 63 within the next 10 days, both retired, 12k miles/year, me with one SP30 speeding conviction, blue underpants, yellow/black stripey socks, 15+ years NCB (protected), comprehensive cover.

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Well, that's not too horrific I guess... clearly pays to shop around! Although if you have modified those socks in any way you must tell your insurer!

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