Quick insurance question- changing car mid-policy
Discussion
I'm half way through a policy and I want to change cars (Diesel Mondeo to Diesel 5-series). However I phoned my broker and they won't insure me on my prospective new purchase. This leaves me in a situation where I'd have to cancel the policy and lose 6 months accrued NCB. Given that I only have 4 years so far, completing this year and getting up to 5 years is important. Is there anything worth trying that might persuade my current insurers to cover my new car so I can continue my policy? The bloke on the phone just stubbornly said that I'd need to be 26 for them to insure me of the 5-series.
Brokers really do make me laugh sometimes. 26? For a diesel BMW? Who the hell do they think they are?
I remember Adrian Flux telling me, at 19, that they wouldn't have anyone to insure me on anything with a larger engine than a 1.4. I was asking them about an Audi with exactly twice as much engine, and I had other companies more than willing to give me good prices!
If the NCB is that vital, wait out. Even if you persuade your broker to take the 5er, which you most likely won't, you'll get so violently walletraped you might as well have bailed out anyway.
I remember Adrian Flux telling me, at 19, that they wouldn't have anyone to insure me on anything with a larger engine than a 1.4. I was asking them about an Audi with exactly twice as much engine, and I had other companies more than willing to give me good prices!
If the NCB is that vital, wait out. Even if you persuade your broker to take the 5er, which you most likely won't, you'll get so violently walletraped you might as well have bailed out anyway.
^ This. And when you've got the NCB? Go shopping for insurance and use "And what will the quote be for a BMW 530d?" as a screening question for insurers you can work with. Tell your current insurers why you're leaving and wait to see if they'll change their tune. They probably won't though.
The problem is the 5 I want is an E34 Touring with the 2.5 tds engine and a manual 'box, with a leather interior, in the right colour and condition, for the right price. These old wagons are getting scarce and there aren't a lot of good ones left. I've been looking since September for the right one!
Buggeration.
Buggeration.
It still maybe worth your while checking around.
Ask the the cost with 5 years and then call around and see if you can get it cheaper with 4 years.
You may find a good deal that's cheep even with 4 years and not 5.
Did it myself once.
I always seem to get a good price from Tescos
I have a Tuscan with full no claims and protection and a RR Evoque with full no claims & protection.
Just bought a Chimaera with no no-claims and they wanted less than either of the others
daft or what.
Ask the the cost with 5 years and then call around and see if you can get it cheaper with 4 years.
You may find a good deal that's cheep even with 4 years and not 5.
Did it myself once.
I always seem to get a good price from Tescos
I have a Tuscan with full no claims and protection and a RR Evoque with full no claims & protection.
Just bought a Chimaera with no no-claims and they wanted less than either of the others
daft or what.Edited by so called on Friday 10th February 01:07
I'm afraid not. I don't have the sort of cash to have a bag of sand sitting there doing nothing for me. The Plan was that the Mondeo would be moved on quickly after I have the 5 back home... By the way, the insurance expires at the end of June so I'm closer to 8 months in/4 months to go. So frustrating! I just want my NCB...
McSam said:
Brokers really do make me laugh sometimes. 26? For a diesel BMW? Who the hell do they think they are?
Firstly, it's not the broker, it's the insurer. The broker is mearly passing on their decision.And as a company, if they don't want to insure an under 26 y/o on a certain car, why should they? They entered into an annual contract with the OP, I assume quoting the best price for a years cover on the car the OP had. He's the one who now wants to alter the terms of the contract, not the insurer.
Honestly, I don't get some of the mindless hostility to insurance companies on PH, even when they've done nothing wrong.
I know a travel agent who only does trips to the USA and S. America. Nothing else. If I went to him and asked me to sort out a trip to France, he'd say no thanks, that's not what I do. Why should he?
McSam, would you then post "travel agent doesn't want to sell me a holiday to France, who does he think he is?"
Classic Grad 98 said:
No hostility here. I'm simply asking what I could try to persuade them to cover me- fit an immobiliser? Reduce mileage? Does anyone know how they've arrived at the conclusion they can't do it.
Ask the bloody broker. You PAID them commission to set up the policy, now make them earn their money ?They should be helping you find another carrier, remind them of their obligations.
Without knowing the broker and carrier involved, it is difficult to tell who has the authority to bind (assuming it is a binder policy). The information above about decisions is wrong.
You broker should help you re-broke.
My point about hostility was aimed at McSam, not the OP.
Noger, the broker should rebroke, but that won't solve his NCB issue. My point is the original insurer are quite within their rights to refuse to insure the OP on his new car. McSam seems to think this is unacceptable, but I don't see why.
Saga wouldn't cover a 49 y/old on a Mini Metro, because they're an over 50s insurer. That's their perogative.
Noger, the broker should rebroke, but that won't solve his NCB issue. My point is the original insurer are quite within their rights to refuse to insure the OP on his new car. McSam seems to think this is unacceptable, but I don't see why.
Saga wouldn't cover a 49 y/old on a Mini Metro, because they're an over 50s insurer. That's their perogative.
The broker is '1st Central Insurance Services', and they're underwritten by 'Lloyds Sydicate'. To my shame I just plumped for the cheapest company, If I'd gone for the cheapest reputable brand I probably wouldn't be having this problem and it would've cost me maybe £6/month more.
Is it worth me trying to take this higher to a supervisor/manager type person at 1st Central or maybe contact the underwriters directly?
Is it worth me trying to take this higher to a supervisor/manager type person at 1st Central or maybe contact the underwriters directly?
Actually "Saga" still quote you, just via their panel, so they act as brokers for the under 50s.
My point was that it isn't necessarily an insurer "decision" although the broker would like you to think that. Many brokers operate with delegated authority, so could quite happily put the OP on risk ... They would be in bother later though if there was an audit !
In terms of NCD, the OP still gets it, just later. Maybe the Broker could factor this in and use their discount ?
I would be suggesting that they have not sufficiently considered the Needs of their client in their initial placement, and should be doing everything they can to successfully rebroke.
Brokers do a lot of "oh it ain't us" talking, and it isn't always true.
My point was that it isn't necessarily an insurer "decision" although the broker would like you to think that. Many brokers operate with delegated authority, so could quite happily put the OP on risk ... They would be in bother later though if there was an audit !
In terms of NCD, the OP still gets it, just later. Maybe the Broker could factor this in and use their discount ?
I would be suggesting that they have not sufficiently considered the Needs of their client in their initial placement, and should be doing everything they can to successfully rebroke.
Brokers do a lot of "oh it ain't us" talking, and it isn't always true.
Last year I was insured with a company underwritten by Aviva. They wouldn't touch me on a RenaultSport Clio 172 because it had 'sport' in the title, but were fine about an MR2 Turbo...bizarre! Ultimately, I chose insurance with them in first place as my previous insurers wouldn't touch anyone under 30 on an MX5!
Ultimately, if your insurer won't budge, they won't budge. Is it really that important to get your diesel 5 series now? Or can you wait 6 months?
Ultimately, if your insurer won't budge, they won't budge. Is it really that important to get your diesel 5 series now? Or can you wait 6 months?
Baryonyx- this pretty much explains it...
Classic Grad 98 said:
The problem is the 5 I want is an E34 Touring with the 2.5 tds engine and a manual 'box, with a leather interior, in the right colour and condition, for the right price. These old wagons are getting scarce and there aren't a lot of good ones left. I've been looking since September for the right one!
Buggeration.
Buggeration.
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