Frustrated with Motor Insurance.
Discussion
I know its probably not news, but I am fed up with being ripped off by Insurance Companies.
I have held a full licence since I was 17 in 1990 (41 now) , and never had an accident or a claim and have points or convictions.
However I have limited no claims bonus. I believe I had up to 12 years in my late 20's , but then swapped to a classic car policy that did not accrue NCB.
Year before last , I bought a MGTF which was classified as a "modern" classic and I took out a classic policy which accrue's NCB , Thus I have 1 year and will hopefully have 2 in late October. With the 1yrs NCB my Fully Comp cost was £135 which i thought was pretty good, although mileage was only 3000 per annum.
Then earlier this year I bought another toy an AC Cobra Replica and was disappointed to be quoted £420 its only a 3.5 litre, but I didn't have time to shop around and thought fair enough its been built by some fella in his shed, and is a specialist vehicle and is agreed valued around £25k so maybe it will be more expensive than i initially thought.
However what has shocked my today is that I have just got a rover 75 1.8 tourer as a general run around / parts getter etc. its bangernomics, and cost me £800. First quote with a limited mileage of 5k was £770 ! which when i laughed was brought down to £400.
I really think the NCB system is broken, in that you can not use it on more than one car and they want it all there own way.. ie I am running 3 cars on policies that accrue NCB but if in 5yrs time I decide to cut down on the number of cars, I lose the NCB i have accrued on the car I drop.
Anyway sorry for the Rant, I will try the Rover clubs tomorrow to see if there are any better deals or "modern" classic policies to be had. I must admit I am always browsing ebay and never think about insurance having had 7 liter & high performance cars and never paying more than £300. and coupled with being an old boy now ) never expected to be quoted half the value of the car for insurance on a small engined shed ( performance wise )
I have held a full licence since I was 17 in 1990 (41 now) , and never had an accident or a claim and have points or convictions.
However I have limited no claims bonus. I believe I had up to 12 years in my late 20's , but then swapped to a classic car policy that did not accrue NCB.
Year before last , I bought a MGTF which was classified as a "modern" classic and I took out a classic policy which accrue's NCB , Thus I have 1 year and will hopefully have 2 in late October. With the 1yrs NCB my Fully Comp cost was £135 which i thought was pretty good, although mileage was only 3000 per annum.
Then earlier this year I bought another toy an AC Cobra Replica and was disappointed to be quoted £420 its only a 3.5 litre, but I didn't have time to shop around and thought fair enough its been built by some fella in his shed, and is a specialist vehicle and is agreed valued around £25k so maybe it will be more expensive than i initially thought.
However what has shocked my today is that I have just got a rover 75 1.8 tourer as a general run around / parts getter etc. its bangernomics, and cost me £800. First quote with a limited mileage of 5k was £770 ! which when i laughed was brought down to £400.
I really think the NCB system is broken, in that you can not use it on more than one car and they want it all there own way.. ie I am running 3 cars on policies that accrue NCB but if in 5yrs time I decide to cut down on the number of cars, I lose the NCB i have accrued on the car I drop.
Anyway sorry for the Rant, I will try the Rover clubs tomorrow to see if there are any better deals or "modern" classic policies to be had. I must admit I am always browsing ebay and never think about insurance having had 7 liter & high performance cars and never paying more than £300. and coupled with being an old boy now ) never expected to be quoted half the value of the car for insurance on a small engined shed ( performance wise )
marshalla said:
Why do so many people seem to think that insurance is all about repairs to your vehicle ?
Most of the premium comes from the potential damage to human beings and the need to compensate them. The age and value of the vehicle is largely irrelevant when calculating that figure.
True, but If i was being quoted a standard 3rd party rate based upon my experience, NCB ( Or lack off ) , and Vehicle performance ( ie likely hood of my taking some people out ) It would make sense, but i am getting more expensive fully comp quotes for a vehicle with a fraction of the performance ( ie lower likely hood of me losing control ) , greater safety features and as it is fully comp x50 times lower vehicle value ... it just doesnt make sense. Most of the premium comes from the potential damage to human beings and the need to compensate them. The age and value of the vehicle is largely irrelevant when calculating that figure.
Sky Insurance , were of no help . My dad is with them for his TVR ( which i am also on and is a good price ) , but the guy asked what my latest quote was and without even asking any of my details other than my no claims on my other vehicles, said there was no way that kind of car could be insured for less than £350 .. That kind of car.. i am quite looking forward to driving this piece of exotica now.. when i pick it up i am going to have great fun racing the ferrari's on the way home !
So think i will have to go with Chris Knott Insurance for £350
My total insurance and tax spend is now £1625 per annum... I know i dont need that many cars.. but as i can only drive one at once think this is crazy. Does anyone know of any multi car or fleet policies out there that do not overcharge and are flexible for adding / removing cars etc.. think i am going to have look into something else for next year...
rovermorris999 said:
BGarside said:
I hear about people getting insurance quotes of less than £150 for second cars on classic policies but how does this work when NCB can only be used against one car?
Classic policies usually don't accrue NCD.Gassing Station | General Gassing | Top of Page | What's New | My Stuff