Insurance Gone Mad… OEMs need to sort out ease of theft
Discussion
My insurance renewals have gone mad….admittedly a theft claim, but insurance don’t seem to recognise benefits of bollards and ghost alarm. Surely OEMs can do more about ease of theft.
48, 15 years NCD, no speeding tickets.
A few quotes from GoCompare.
540 XDrive £3K (current car)
C63 6.2 £3K
M2 Comp £4k
M5 XDrive Comp £7k
RR SVR No Quote (never happened to me)
I8 £4.5k
A few years ago all of these were 30-40% of the costs above.
Appreciate a bit of a first world problem, but as a genuine car enthusiast who has worked hard to be able to afford some nice metal it’s breaking my heart!
48, 15 years NCD, no speeding tickets.
A few quotes from GoCompare.
540 XDrive £3K (current car)
C63 6.2 £3K
M2 Comp £4k
M5 XDrive Comp £7k
RR SVR No Quote (never happened to me)
I8 £4.5k
A few years ago all of these were 30-40% of the costs above.
Appreciate a bit of a first world problem, but as a genuine car enthusiast who has worked hard to be able to afford some nice metal it’s breaking my heart!
vanman1936 said:
My insurance renewals have gone mad….admittedly a theft claim, but insurance don’t seem to recognise benefits of bollards and ghost alarm. Surely OEMs can do more about ease of theft.
48, 15 years NCD, no speeding tickets.
Owners have to bare some of the responsibility true, but how many owners have no additional theft devices? Owners seem to complain a lot and blame the manufacturers, and true, they have a lot of work to do, but won't fit anything that would help to prevent theft. A Ghost Immobiliser is about £450, a StopLock about £50. I appreciate the argument that owners shouldn't have to fit these devices, but the reality is we do.48, 15 years NCD, no speeding tickets.
Insurance companies should also be questioned around the fitting of these devices, I did an insurance quote the other day for my car and said I had both an insurance approved immobiliser and an approved tracker fitted and the cheapest insurance quote went up! Only by 99p on a £2500 quote, but still!
ChocolateFrog said:
There's a long running thread to moan on already.
How much did the car that was stolen end up costing the insurance company? Was it less than 3k? Sounds like you're currently quids in.
I am quids in, not questioning the insurance model, it’s a risk based premium. More my car (Alfa Quad) was stolen in 3 mins via a known manufacturer weakness. If Ghost can make a car almost theft proof why can’t manufacturers.How much did the car that was stolen end up costing the insurance company? Was it less than 3k? Sounds like you're currently quids in.
I had a quote last year for £1,150
on a multicar policy
Aston Martin DBS
Mitsubishi Outlander PHEV
Ford Capri 3 litre sport
Series 1 E Type 4.2 FHC
all in alarmed locked garage with hydraulic ram bollard protection , all cars tracked
https://securitybollardsdirect.co.uk/collections/a...
recommend these automatically raise as a deterrent , first class
Wife as named driver max NCB , no points , no claims
on a multicar policy
Aston Martin DBS
Mitsubishi Outlander PHEV
Ford Capri 3 litre sport
Series 1 E Type 4.2 FHC
all in alarmed locked garage with hydraulic ram bollard protection , all cars tracked
https://securitybollardsdirect.co.uk/collections/a...
recommend these automatically raise as a deterrent , first class
Wife as named driver max NCB , no points , no claims
Edited by Purosangue on Saturday 4th November 12:01
vanman1936 said:
I am quids in, not questioning the insurance model, it’s a risk based premium. More my car (Alfa Quad) was stolen in 3 mins via a known manufacturer weakness. If Ghost can make a car almost theft proof why can’t manufacturers.
Ghost doesn't make a car theft proof, there's a reason why insurance companies don't officially recognise them and why they're not Thatcham approved 
rayny said:
JLR are working on it :
https://www.telegraph.co.uk/business/2023/11/02/ja...
That’s the scary part. To be fair, JLR should let somebody else work on it( some would say, ANYBODY else.)https://www.telegraph.co.uk/business/2023/11/02/ja...
Is it possible a lot of those models are real thief magnets as well?
As said, I suspect the majority of those people who have their cars stolen make little attempt to prevent it such as the security methods you mention.
I guess we're back at that point back in the day when the likes of Saphie Cosworths and Golf GTis were easily stolen and almost became uninsurable.
As said, I suspect the majority of those people who have their cars stolen make little attempt to prevent it such as the security methods you mention.
I guess we're back at that point back in the day when the likes of Saphie Cosworths and Golf GTis were easily stolen and almost became uninsurable.
HedgeyGedgey said:
vanman1936 said:
I am quids in, not questioning the insurance model, it’s a risk based premium. More my car (Alfa Quad) was stolen in 3 mins via a known manufacturer weakness. If Ghost can make a car almost theft proof why can’t manufacturers.
Ghost doesn't make a car theft proof, there's a reason why insurance companies don't officially recognise them and why they're not Thatcham approved A lot of desirable car owners do nothing to protect their assets beyond parking it on the drive locking it and taking out insurance, I admit I was in this camp until 5 years ago when I had a car stolen in a burglary, albeit I didn’t think it was particularly desirable as a 3 year old diesel Audi A4.
It’s true insurance does cover it but you then have 5 years of pain as the OP is finding out.
I’ve since owned a BMW M240 and now an M4, both I’m serious about security with to keep them on my drive and my claim becomes irrelevant in December as it passes the 5 year mark.
I’ve seen loads of posts where owners aren’t interested in additional security because either it’s inconvenient or they think a dislklok spoils the look of the car etc.
In relation to the Police and courts, because of the way the cars are stolen the thieves don’t have to enter a house and steal keys now in many cases, that downgrades the offence from a burglary to a theft of motor vehicle and even if the suspect is caught and charged the chances of a custodial sentence from the courts is slim and likely to be more lenient than if it was a burglary.
It’s true insurance does cover it but you then have 5 years of pain as the OP is finding out.
I’ve since owned a BMW M240 and now an M4, both I’m serious about security with to keep them on my drive and my claim becomes irrelevant in December as it passes the 5 year mark.
I’ve seen loads of posts where owners aren’t interested in additional security because either it’s inconvenient or they think a dislklok spoils the look of the car etc.
In relation to the Police and courts, because of the way the cars are stolen the thieves don’t have to enter a house and steal keys now in many cases, that downgrades the offence from a burglary to a theft of motor vehicle and even if the suspect is caught and charged the chances of a custodial sentence from the courts is slim and likely to be more lenient than if it was a burglary.
Some spectacularly high premiums being quoted here. We pay under £6k to insure (I think) 11 vehicles including two remapped vehicles and a van full of tools! All newish (except the Robin), all strong agreed values. Everything is fully comp for any driver over 30 and my wife and I are fully comp any vehicle not owned by us.
Sounds like it's time to shop around OP!
Sounds like it's time to shop around OP!
Baldchap said:
I was always under the impression cost to repair was the most significant part of an insurance quote, weighted according to risk, of course.
I believe repair incl curtesy car costs where applicable, which can cost tens of thousands in some cases, becoming more than some repairs.Absolutely ridiculous costs in some cases.
Had a friend that was lucky to have an apartment with 24/7 security, submerged bollards and gate controller sat meters away from cars and most insurers wouldn't give any discount at all. Oddly, if he was to keep some of them ambiguously "away from home" overnight they would quote a few percent less.
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