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Brilliant idea to have a list of this information on the forum for all to peruse.

I paid £600 last year with LV=, but they wrote to me this year to say Lexus RXs weren't worth their while since winning the "second most stolen" award and so LV= refused to quote.

Due for renewal on April Fool's Day (just my luck!) I began the search three weeks ago - in line with the Money Saving Expert's view that this was the sweet spot time to seek renewal,

Best offer came back from comparison sites at £1,380, and next suggestion was about a grand more. So I popped a call in to Adrian Flux, where a charming chap went out and beat up a few brokers to get me £1,211 fully comp with Axa. Took a deep breath and justified it on the basis that this year I escape the 5-year tax surcharge (well nearly justified it anyway....) 

Took a serene drive to soothe the rattled nerves & blood pressure is now almost back to normal.

Good luck to those still seeking insurance for the coming year.

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Does LBX stand for a "Load of B0110X"?  For example, insurance quotes are a LBX.  Maybe we could start a trend here, I'm sure Lexus Japan would love that.  Might push them in to doing something positive.

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Good argument for hanging onto earlier models of RX.  The premium hikes more than wipe out any modest savings on mpg and VED if I traded up my ICE 2006 350.

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  • 2 weeks later...

Just got the renewal through for a multicar policy which includes my 3rd gen RX (i.e. pre-Canbus). As I have a couple of older (classic?!) cars I go through Footman James, every year I end up with Ageas. Difficult to separate out the cost for the RX, but overall it's gone up from £644 to £774 for all three cars.

I have another older car with a different insurer (RH Specialist Insurance). When I took that out RH said could quote me for a multicar policy including the RX, so it'll be interesting to see what they come up with. Worst is I pay an extra £130 with FJ, which I can live with given the rises I've been reading about on here.

One thing I should ask about is the value of the RX. I've never changed it from the circa £26k I paid for it back in 2019, but now it's more like £15,000. Who knows, the policy might end up more expensive!

Neat thing about this policy for the older cars is that it has agreed value for them, plus business use for my 1980 Datsun! As I do use it for the odd site visit, client meeting etc in the summer then that it is useful. Also it doesn't have any mileage limitation for them, unlike a lot of individual classic car policies.

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We all know or should do, that best the time to get a competitive quote is around 3 weeks before renewal is due. So this is what I did using a number of comparison sites among others on the same day.  Most showed Ageas as lowest price or almost lowest for their Essential and then their Standard policy for me.  However, what I find surprising is the disparity between the prices quoted for this insurer by different comparison sites, some of them quite far apart.  Do the comparison sites apply a different mark up or do the insurers give them differential rates according to how much business thay attract for the Insurer or is there some other reason I wonder? 

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Barry, I found Ageas to be good when I was paid out by them for a couple of no-fault accidents in the past, when they'd insured the other parties. They resolved the claims promptly and without any hassle.

Mercifully I've never had to claim since I've had a policy with them.

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5 hours ago, b4u2 said:

@Paul Mingay

You are very optimistic

After LV saying they won’t renew my 2026 RX450h I have just renewed through Money Supermarket at Churchill for next month at £715. Thats with 9 years no claims and parked in the road outside my house so I am well pleased. Bizarrely I tried going to Churchill direct and it was £200 more.  I also tried Ageas but they wanted £1800 for the same cover. 
There just seems to be no logic for the wide range of pricing out there.

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Another crazy, tunnel vision decision by LV insurance. My wife has a 19 year old Honda Jazz that she's insured with LV for as long as we can remember. Its value is so low, what's the likelihood of it being stolen? She received an email today as follows.       Thank you for choosing to insure your HONDA JAZZ SE AUTO with LV= over the past year. We’re writing to you to let you know that, unfortunately, we’ve had to make some changes to our underwriting approach for your vehicle type. Over the past year, there’s been a rise in thefts of the HONDA JAZZ SE AUTO. As a result, we’ve seen a large increase in the number and cost of claims we’ve received for these types of vehicles and have made the difficult decision to stop insuring them. This means at your next renewal date on 11 June 2024, we won’t be able to offer you a renewal price. We will send a letter confirming this again in advance of your renewal date, the letter will explain that this is due to a change in our underwriting criteria. Please rest assured this won’t class as your insurance being declined, cancelled or voided, and you won’t need to declare it to other insurers. We never want to leave our customers in the difficult situation of having to find cover. However, we feel that continuing to cover certain vehicles would create a greater overall detriment to our customers by increasing pricing overall. 

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15 minutes ago, JeffL said:

Another crazy, tunnel vision decision by LV insurance. My wife has a 19 year old Honda Jazz that she's insured with LV for as long as we can remember. Its value is so low, what's the likelihood of it being stolen? She received an email today as follows.       Thank you for choosing to insure your HONDA JAZZ SE AUTO with LV= over the past year. We’re writing to you to let you know that, unfortunately, we’ve had to make some changes to our underwriting approach for your vehicle type. Over the past year, there’s been a rise in thefts of the HONDA JAZZ SE AUTO. As a result, we’ve seen a large increase in the number and cost of claims we’ve received for these types of vehicles and have made the difficult decision to stop insuring them. This means at your next renewal date on 11 June 2024, we won’t be able to offer you a renewal price. We will send a letter confirming this again in advance of your renewal date, the letter will explain that this is due to a change in our underwriting criteria. Please rest assured this won’t class as your insurance being declined, cancelled or voided, and you won’t need to declare it to other insurers. We never want to leave our customers in the difficult situation of having to find cover. However, we feel that continuing to cover certain vehicles would create a greater overall detriment to our customers by increasing pricing overall. 

It almost as if LV want to get out of the insurance business!

Amazing advert.

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Both Churchill and LV refused to re-insure my Lexus this year, after many years no-claims.

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I’ve never been able to insure my car with LV as they only insure green cars, my last one was silver and the present one blue.

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They don't get it do they. Even a £200 banger can raise millions of pounds worth of liabilities if the properly insured driver kills someone.

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On 3/26/2024 at 8:00 PM, Sundance said:

I'm not at all convinced that underwriters any longer recognise the financial consequences that used to differentiate between 'fault' and 'no fault' claims.  It seems to be more a question of finding any reason to load your premium ... even if there isn't one!!

It's got to the point where we might need to seriously consider joining such lawlessness and settle claims (where financially viable) without notifying insurers on the off chance that maintaining a 'clean sheet' might at some stage be of self benefit.

That said I'm not holding my breath!

Spot On !!!!!!!!!

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2 hours ago, GMB said:

They don't get it do they. Even a £200 banger can raise millions of pounds worth of liabilities if the properly insured driver kills someone.

True but the risk factor is mainly the driver rather than the type of vehicle in that scenario.

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Its all about the fat cat CEO, the share holder and making a bigger profit than the previous year.

The who industry IMHO is just using the customer to print money for them.  I don't think risk is as big as an issue as they say, thats just an excuse.

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