Insurance Renewal

[lordturns]

It is time to renew insurance on my 400 and was wondering who you would recommend - the quote from the existing insurer was verging on the ridiculous to say the least! There must be someone who can reasonably insure a 16 year old car out there for everyday use......

Thanks in advance,

Jeremy

[Malc]

I've just got a quote from gsi-insurance 01227 772775 which is @50% of that which my last insurers SAGA ( rip off merchants ) quote.

Malc

[Bluesbreaker]

Hi Jeremy,unfortunately,it looks like a trawl through different insurance company websites,is on the cards for you-where one might give me a good deal,wouldn't do the same for you,and visa -versa,it's an insurance-lottery out there,if it's any help to you,I get the cheapest deal I can,as it's only a legal requirement to have your car insured,therefore,I don't believe in lining their pockets.-but then,I'm a crotchety,old fart these days,and can't be bothered with all these con-merchants out there any more.

[mikeyv]

Hi Jeremy,unfortunately,it looks like a trawl through different insurance company websites,is on the cards for you-where one might give me a good deal,wouldn't do the same for you,and visa -versa,it's an insurance-lottery out there,if it's any help to you,I get the cheapest deal I can,as it's only a legal requirement to have your car insured,therefore,I don't believe in lining their pockets.-but then,I'm a crotchety,old fart these days,and can't be bothered with all these con-merchants out there any more.

As above.

[bigjap]

i do the same as Iain,i go on confused.com ,compare the market etc get some idea,then i might give some a ring,i can get ins for about £320 at mo,the only thing some of the excess are high these days,the voluntary and the compulsory add up.there do,esnt seem any point spending 2 or 3 times the amount really

[thatfatbloke]

I've just been on 'Go Compare'. Cheapest quote was £110 for my F**d F*c*s. Someone called 'The Green Insurance Company'. This is roughly half of what I'm paying at the moment.

I've just used Go Compare again to get a quote for an 'imaginary' LS400 valued at £1500 and the cheapest quote came in at £211.84 with 'Budget Insurance'.

Both quotes are on 6000 miles per year.

Insurance seems to have got reasonably cheap over the past couple of years.

[mikeyv]

I've just been on 'Go Compare'. Cheapest quote was £110 for my F**d F*c*s. Someone called 'The Green Insurance Company'. This is roughly half of what I'm paying at the moment.

I've just used Go Compare again to get a quote for an 'imaginary' LS400 valued at £1500 and the cheapest quote came in at £211.84 with 'Budget Insurance'.

Both quotes are on 6000 miles per year.

Insurance seems to have got reasonably cheap over the past couple of years.

It has if you're wise to their dubious tactics and shop around every year for best quotes.

If you're one of the majority who just accept their renewal from the same company, year after year, you're likely getting shafted.

I think in most things now, loyalty has gone out the window, it pays dividends (literally in the case of ISA accounts) to switch to the best deal available at renewal time.

[Bluesman]

Shopping around these days for insurance couldn't be easier. If you think of how you would go about it 20 year ago which would involve a Yellow Pages and several hours on the phone was a real bind. These days it just couldn't be easier.

Be aware of the companies that give you an online price through one of the internet comparison sites which somehow is always a couple of hundred £s difference when it comes to ringing them to arrange the insurance.

I always enjoy hunting down the best price to most things that involve competitive pricing. Mike

[lordturns]

Thanks very much to all of you, I am most grateful - comparison sites are useful although supposedly they earn commission as a kickback from the insurers for everyone that uses their sites. I note that when you do get a quote from an insurer on their website, you 'spec' your insurance up just like an options list on a car with things like 'legal assistance' 'protected no claims etc' and many more that just serve to bump the cost right up - so what appears to be very cheap initialy ends up being expensive because they don't include any extras and how many of us have used these extras anyway?....plus we all know that we are indemnifying those that are not insured etc, etc.

Years ago when I did my insurance for the first car I had, it was from a broker and one price included everything and there were no extras or bolt ons. The broker was recommended and I managed to get a good price. Regardless, I think insurance is a complete rip off and despite having no points and being claim free, it still goes up....so how does that work? because I don't know and what's more I have been involved with financial services for a number of years and it pains me to say that I know how the 'system' works (oh dear I better stop otherwise I will begin to rant :tsktsk: )

[Bluesman]

Thanks very much to all of you, I am most grateful - comparison sites are useful although supposedly they earn commission as a kickback from the insurers for everyone that uses their sites. I note that when you do get a quote from an insurer on their website, you 'spec' your insurance up just like an options list on a car with things like 'legal assistance' 'protected no claims etc' and many more that just serve to bump the cost right up - so what appears to be very cheap initialy ends up being expensive because they don't include any extras and how many of us have used these extras anyway?....plus we all know that we are indemnifying those that are not insured etc, etc.

Years ago when I did my insurance for the first car I had, it was from a broker and one price included everything and there were no extras or bolt ons. The broker was recommended and I managed to get a good price. Regardless, I think insurance is a complete rip off and despite having no points and being claim free, it still goes up....so how does that work? because I don't know and what's more I have been involved with financial services for a number of years and it pains me to say that I know how the 'system' works (oh dear I better stop otherwise I will begin to rant :tsktsk: )

You should know better than anyone having worked in the financial industry what tricks they get up to. What ever price they quote me I always question and argue till I am blue in the face to get what I think is fair and if they wont play I go somewhere else, someone will give you a good price in the end.

At the moment Fully Comp with none of the useless addons as I already have legal cover which is supplied through my RAC breakdown cover. Cost at the moment is £206. Mike

[lordturns]

Mike - I have what I call 'some knowledge' more of an overview of how the system works and did not specialise directly in insurance plus as you know it is always good to ask for opinions, experience and points of view from others....sharing knowledge is powerful and the only way we can all outwit the cons that are so prevalent in the insurance game.

[harrylime]

I shop around every year. Insurance companies would prefer to spend millions on advertising for new customers rather than look after existing ones. It flies in the face of common sense but perhaps ripping off the 60% who can't be bothered to shop around is more profitable than looking after the 90% who would renew every year if looked after. No doubt actuaries have done the sums and come to this conclusion. The world we live in.

[harrylime]

I forgot to add that I never go back to get them to price match after they send the renewal. If they can't quote a decent renewal price in the first place screw them, they had their chance. I'd rather go somewhere else

[Bluesman]

I forgot to add that I never go back to get them to price match after they send the renewal. If they can't quote a decent renewal price in the first place screw them, they had their chance. I'd rather go somewhere else

I am exactly the same. Your best price or take a hike. Mike

[Bluesbreaker]

I think everyone here, has more or less put their ten-cents worth into the debate,regarding just how much of a racket,the insurance game is,-a licence to print money,( my opinion),it's a subject,which I think has come-up on more than one occassion,and promotes lively debate,my final comment on this matter,for what it's worth,is that we,in Britain,are enduring one of the worst financial recessions,in living memory,with no relief in sight,being royally mismanaged,by the current crop of incompitents,who would make Richard Nixon look honest,with swingeing financial -cuts being implemented right across the board,vital public services budgets paired to the bone,-all to save a few hundred,or thousand quid-while these maggots award themselves pay-increases,while all the time,telling us 'were all in it together' -my hairy arse,we are,and that is why loyalty to insurance companies,is a hiding to nothing,and shopping around,is the order of the day,( as Bluesman rightly mentioned,the internet makes it much easier to shop around,and get good deals) anyone reading this diatribe,will surely agree,that given the financial climate,prices of everything,are rising at an alarming rate,-and people are losing their jobs as fast,I for one,wonder where this is all going to lead to,-it ain't gonna get any better soon,-though,if you listen to Cameron,and his mouthpiece,the BBC,you'd think we'll all be in clover this time next year,-dream on, I apoligise for chuntering -on so,but I am fed up to the back teeth,with what's going-on in this once great country of ours,and feel so impotent to do anything about it,and sorry to Jeremy,for hijacking your thread,...signed:-******-off,from Milton Keynes.

[steve2006]

I was listening to the radio on the way home from work tonight and apparently the payment of fees to these so called claims management companiies has been banned so saving motorists around £15.00 a year on premiums.

Insurers are also clamping down on false claims for whiplash injuries which should save motorists another £15.00 a year on premiums.

Finally pigs are apparently able to fly!!!!!!!

[Bluesman]

Cant stand people that sit on the fence. Tell it how it is Bluesbreaker. Mike

[Bluesman]

I was listening to the radio on the way home from work tonight and apparently the payment of fees to these so called claims management companiies has been banned so saving motorists around £15.00 a year on premiums.

Insurers are also clamping down on false claims for whiplash injuries which should save motorists another £15.00 a year on premiums.

Finally pigs are apparently able to fly!!!!!!!

The price of bacon will go up now. Mike

[ManicMark]

Mine went down £80 on renewal first time ever. I go between adrian flux & sky both brokers & seem to get a good deal every year.

[Malc]

what is the sky broker please ?

Malc

[Scribe]

My Saga policy increased from £296 to £330 this year, so I changed to RH Insurance. Someone on here (sorry, I forget who) mentioned them a while back. Whoever it was, thanks! Because my Lexus is a second car it qualifies for RH's classic/modern cover, which I got for £229. Mileage is limited to 5,000 p.a. but it was with Saga too. Cover includes breakdown and foreign travel. They were helpful and efficient on the phone, too.

Incidentally, the person I spoke to asked for full details of the two non-fault incidents I've had over the last two years, when my everyday car was scraped while parked and suffered minor damage. The reason he wanted to know about this is that insurers appear to be cracking down on claims for whiplash, which is expensive and easy to fake. He explained that if I'd claimed for this, and severe rear-end damage to my car, on both occasions it would have to be investigated further. He said, 'Be aware of people who get out of their car immediately after being rear-ended and hold their neck in pain. They haven't got whiplash, or at least not yet. They'll be full of adrenaline, and if they've got whiplash they probably won't feel it until the next day.'

I don't know if he's right, but it looks as if insurers are trying to close loopholes or minimise false claims, but this could penalise people who've genuinely suffered that type of damage/injury.

[Colin M]

I have been with RH for some time - I think since about 1997- and have always found them good to deal with, although I have never had to make a claim (other than for broken windscreens).

I have my Lexus on a classic/modern policy with them and currently pay £254 for 5000 miles.

[Adam Evans]

I pay almost £1000 with Direct Line

5 years no claims

Been driving for 6 years and one fault crash in the last 5 years (lots none fault)

0 points on my licence

Oh and I am 23 years old

But this year I will (hopefully) have 6 years no claims and I think that should count to something

Been with Direct Line for the past 5 years and every year my renewal from them is the cheapest and I cannot match it on the market with anyone else but I still ring up and knock them down a bit

[jaroph]

I only have one car with Admiral but I am on their multicar policy and, surprisingly, they have been the cheapest for the last three years. £450 for the LS600h. Whether I shall recommend them after a claim is something I have yet to find out. My 400h is with Lexus Insurance and several claims (mostly car park dings from inconsiderate shoppers) have been dealt with brilliantly and with minimal penalty on the no claims bonus. (It also means you deal with Lexus, which is a bonus. Do check their quotes though, there is always one bad apple somewhere!)

Consequently, that car has remained with them for 6 years.

Remember, you can haggle - first quote from Admiral on the LS was £650! And check that they do not alter terms when they give you a better quote - like suddenly increasing the excess without your knowledge !

[steve2006]

A slight sideways move on this topic but here goes.

I have through my bank account the credit monitoring service so if there are any suspicious happenings it gets flagged up.

What I have noticed is when I was doing the usual rounds on the comparison sites the companies I looked into further did a credit check.

What I fail to understand is why, I was only looking at quotes not actually taking out insurance and generally when I do I pay in full so do not use credit facilities.

The search apparently does not affect my credit rating but as I said why do they do it?