Insurance is baffling
Discussion
Just got some insurance quotes for my new car and have been very surprised by the results.
My previous car was a 1997 Honda Civic Coupe 1.6 which is an insurance group 13, this car was very popular with Barry Boys as it was made famous by The Fast and The Furious, it is rare to see one without a bean can exhaust, they are quite popular with the youth of London and I have seen many crashed examples. For the past few years the insurance was £260.
My new car is a 2005 Ford Focus 1.6 TDCi Ghia with an insurance group of 7, this car is bland, favoured by families and green freaks, Barried by no one and common as muck. The quotes I have received start at £600 and rise to £1500.
I’m 28 with 7 years NCB and cant work out how they have conjured these figures.
My previous car was a 1997 Honda Civic Coupe 1.6 which is an insurance group 13, this car was very popular with Barry Boys as it was made famous by The Fast and The Furious, it is rare to see one without a bean can exhaust, they are quite popular with the youth of London and I have seen many crashed examples. For the past few years the insurance was £260.
My new car is a 2005 Ford Focus 1.6 TDCi Ghia with an insurance group of 7, this car is bland, favoured by families and green freaks, Barried by no one and common as muck. The quotes I have received start at £600 and rise to £1500.
I’m 28 with 7 years NCB and cant work out how they have conjured these figures.
k all? Insurance has gone up a LOT this year too which a lot of people are finding out(me included).perhaps paying £260 odd on a civic coupe was the result of a miscalculation..
Insurance has gone up for everyone this year mostly due to the numpties who crashed in the snow and those that had their cars flooded around the beggining of the year.
Also consider the value of the focus is far higher than the civic and the cost of repairs to new cars is far higher than that of older cars to.
dave
Insurance has gone up for everyone this year mostly due to the numpties who crashed in the snow and those that had their cars flooded around the beggining of the year.
Also consider the value of the focus is far higher than the civic and the cost of repairs to new cars is far higher than that of older cars to.
dave
It's not baffling at all!
Insurance companies rely on very exciting statistical information given to them by actuaries (which I this is Japanese for 'boring stats person') to calculate their ratings, which take into account lots of factors such as your age, gender, location, etc, etc.
However, another consideration is whether or not you are in their target market segment. Some insurers only want women drivers (although they'll write the other sort), some only want older people and so on. The reason for the spread in prices is that you fit one insurer's appetites more than you do for others.
Hint: If you get a really, really huge quote from an insurer it's probably because they don't want you.
Insurance companies rely on very exciting statistical information given to them by actuaries (which I this is Japanese for 'boring stats person') to calculate their ratings, which take into account lots of factors such as your age, gender, location, etc, etc.
However, another consideration is whether or not you are in their target market segment. Some insurers only want women drivers (although they'll write the other sort), some only want older people and so on. The reason for the spread in prices is that you fit one insurer's appetites more than you do for others.
Hint: If you get a really, really huge quote from an insurer it's probably because they don't want you.
I'm going to try some of the companies that don’t use comparison sites to see if they can do better without the middle man. I think Privilege guarantee to beat your renewal quote, so might be worth a shot.
I can see this recent hike in prices increasing the number of older uninsured drivers.
I can see this recent hike in prices increasing the number of older uninsured drivers.
Spleeble said:
I can see this recent hike in prices increasing the number of older uninsured drivers.
i thought that to. You only have to watch a couple of episodes of police camera action style programs to realise that the majority of cocks who drive around with no insurance pay fines far less than what those of us who pay premiums pay. Hence once caught without insurance many people choose never to bother with it again as a £2-400 fine is far cheaper than any premium you could get with a previous conviction so much so you could risk getting stopped a couple a times a year
I think there has also been a huge increase in the number of pool cars to -where one person makes sure a car is taxed/tested/insured but literally dozens of people some without a license drive on a regular basis!
dave
saladdodger said:
i went from a 1993 bmw e36 2.5 coupe on 17" to a 2001 pug 406 estate hdi
it went up 450 quid.......
i managed to get it down a bit but still high for a 32yr old man with 9yrs ncb no points or convictions.
Up by £450 it went up 450 quid.......
i managed to get it down a bit but still high for a 32yr old man with 9yrs ncb no points or convictions.
Mine is £300 fully comp and a group 16/17 car.I had a quote recently for an S1 Elise, that was £500. Not up from........... but £500
Pothole said:
winshent said:
I was rear ended recently.. So I went online and got two quotes for another new car, one quote with accident details, one without..
The quote increased by approx 10% with the accident, even though i'm not to blame !!
you were there, you share the blame.The quote increased by approx 10% with the accident, even though i'm not to blame !!
Pothole said:
winshent said:
I was rear ended recently.. So I went online and got two quotes for another new car, one quote with accident details, one without..
The quote increased by approx 10% with the accident, even though i'm not to blame !!
you were there, you share the blame.The quote increased by approx 10% with the accident, even though i'm not to blame !!
Did you challenge them about it? If your insurers recovered all costs from the other party's insurers then they have not lost money on you so strictly speaking you have not cost them anything and are therefore a slightly better risk (all other things being equal) than the person who hit you.
Were your insurers helpful when dealing with the claim? If so, why move?
Were your insurers helpful when dealing with the claim? If so, why move?
but 
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