Insurance renewal

[Ray Green]

Has anyone renewed there insurance this year on RX450h how much of a hike was it mine is in September not looking forward as it was just over £1200 last year

[OctopusUK]

I have been advised by LV Insurance that they would not renew my insurance on a RX450h because of the perceived theft risk and occurances, I live in a midlands County town and park the vehicle alongside two other vehicles on my drive. With CCTV coverage. Not wishing to be held to ransom I elected to renew early with another major insurance company. The premium although a significant increase was inline with the expected, based on media expectations.

[Spock66]

Mine is due next month going from approx £500 with LV to £800 with Hastings.

LV are no longer insuring the RX, there were cheaper options from the comparison sites, but all companies I had never heard of and with quite a high excess.  I also dropped business use as this seemed to add about £200 to the quote.

But the landscape may well be different in September....

[Sundance]

54 minutes ago, Spock66 said:

Mine is due next month going from approx £500 with LV to £800 with Hastings.

LV are no longer insuring the RX, there were cheaper options from the comparison sites, but all companies I had never heard of and with quite a high excess.  I also dropped business use as this seemed to add about £200 to the quote.

But the landscape may well be different in September....

That's not strictly true Andrew. You might mean that LV are no longer insuring your RX. They quoted on my RX, albeit a Gen2 400h, but it would have been a 150% premium increase over last year so therefore not for me.

Even my old bus was subject to a 50% premium increase when I renewed with my existing insurer this very week. No other quotes, of which I researched many but with no outright refusals, came close enough on the same terms.

As you correctly mention, significant hikes in compulsory excesses did tend to dominate my findings and do seem to have become very popular with underwriters ... perhaps for all RX models 🤔.

[Spock66]

1 hour ago, Sundance said:

That's not strictly true Andrew. You might mean that LV are no longer insuring your RX. They quoted on my RX, albeit a Gen2 400h, but it would have been a 150% premium increase over last year so therefore not for me.

I believe it's true for all 4th Gen RXs from the letter they sent me.

[Sundance]

5 minutes ago, Spock66 said:

I believe it's true for all 4th Gen RXs from the letter they sent me.

Ahah, that's sounds more like it, thanks for the clarity 👌.

[msdsx]

I went from about £500 to £875 this month with same company, tried Compare and could only shave a few pounds so stayed where I was. That's with a tracker and Scorpion immobiliser.

[jumbojake]

ours jumped from £380 to £800  ... switched to Hastings for £500 ... have to search though, not all of these comparison sites are the same and going direct was worse

[ic2alpha]

I had been with LV for 4 years, and in January the renewal came with 80% increase and with notice that it will not automatically renew unless I call and speak with them first.

I ended up moving to Marshmallow, but the increase this year has still been 60% on last year. 
 

Friends and colleagues are also seeing increases but no one has yet to match the 60% increase that my RX has received this year and the difference must be the increase in thefts (via the canbus weakness). How many more increases can Lexus owners afford before they start to change, and/or how soon before the cars become uninsurable?

Is a permanent fix even in the works for the canbus weakness yet (the plates are a delay)?  Based from Lexus UK interaction, the plates are it and the issue is resolved.

 

 

[jumbojake]

likewise was with LV .. liked their service when my wife bumped the Rx a few years ago.. but they doubled for both my IS and Rx this year.... so moved to Aviva and Hastings... seems to be grab the deal of the day, with the right comparison site.. for both, the deals were only valid for that day .. otherwise it is really expensive ... crazy for such old cars now

[Sybaris]

Try beating the £6K that Lexus Insurance quoted me.

Absolute sham when the manufacturers branded insurers won't insure their own vehicles.

Tells you a lot about how they see their customers.

[jumbojake]

yes, I got that last year, when I tried to put my 20yr son on it.... told him to buy a small Toyota instead... sadly they are not cheap anymore !

[DAN@ADRIAN FLUX]

Hi.

When your insurance is up for renewal please feel free to to drop me a line. I'd be only too please to try and help.

Regards,

Dan.