Insurance goes up….with tracker!!
Discussion
Basically as the title says, I went on moneysupermarket.com to get a quote for a sports car.
The first quote I did on Saturday came out with the cheapest at £459. I thought that was a little high so today I added a tracker to the quote and it came out with the cheapest at £493…..£34 more!!
Confused.com also came out more expensive by £24
Can anybody explain the logic in this or do I just accept that there is no logic when it comes to car insurance?
The first quote I did on Saturday came out with the cheapest at £459. I thought that was a little high so today I added a tracker to the quote and it came out with the cheapest at £493…..£34 more!!
Confused.com also came out more expensive by £24
Can anybody explain the logic in this or do I just accept that there is no logic when it comes to car insurance?
Edited by DVA on Monday 1st April 22:24
It'll be something to do with an aspect of the algorithm that says...'if you've put a tracker on it, maybe it's because you think there's an increased risk of theft'. So, premium goes up as implied risk goes up.
It's the opposite of me adding my wife as an additional driver on my policy. I've clean licence, she's 3 points and wrote her car off 4 years ago. However, adding her reduces my premium as the algorithm thinks the risk is spread between 2 people rather than 1.
Weird, but that's how it is.
It's the opposite of me adding my wife as an additional driver on my policy. I've clean licence, she's 3 points and wrote her car off 4 years ago. However, adding her reduces my premium as the algorithm thinks the risk is spread between 2 people rather than 1.
Weird, but that's how it is.
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