Insurance went from £1600 to £18,500, what can I do ?

[LewisC63]

I’ll keep it simple, I’m 21 years old, my insurance has always been cheaper than most people my age I’ve had a few mercs, few BMW’s etc all paying a very fair price for insurance.

6 months ago I bought a w204 c63 and got around 13 quotes from different companies all willing to insure me for sub £2000 without blackbox, decided to just update my current policy as it was basically the same price as my previous car. (Paid £50 extra for the change of vehicle)

My insurance is due for renewal on 10th February and I’ve just ran a search on comparison sites and there’s about 3 quotes all over £15k a year with blackbox and 1 without for £18.5k. Nothing has changed with my licence- address same, no points, no claims nothing.

Any ideas on what to do ? Any specialist insurance people would advise to check ? I understand that insurance has gone up for most people but not 12x, I’m basically forced to sell my car and lose a significant amount of investment without any explanation. Better yet I’ve only got a month to sort it and probably end up paying more to insure a micra than I did for my c63

[Tindersticks]

Did anything change with what you’ve told them. I’m amazed that a 21 year old would get C63 insurance for below 2k, more so without a black box.

21. Male. C63. Pretty much a nope for most insurance companies I’d have thought, hence the prices you’re seeing.

[Hoofy]

I'm wondering if they made a mistake when they quoted £1600... and meant to quote £16000. I probably wouldn't push them about it in case they demand the balance citing some small print meaning you have to pay up as you've already used their service for whatever time period.

There are the usual specialists to try eg Adrian Flux, Keith Michaels.

Let us know how you get on.

[trevalvole]

Have you got your renewal through from your existing insurer yet?

[Monkeylegend]

I would try the 13 companies who quoted you £2k last year again.

[VeeReihenmotor6]

That is rubbish, but to answer your question risk profiles change and insurance costs follow to match. Have you done any quotes on other cars, perhaps your old ones, to see if they too have a 12x increase?

To add I'm 41 years old, living in a lovely rural area, clean licence etc and get quotes for about what you thought you were quoted on a C63.

[Simon_GH]

Try adding a low risk family member to the insurance - it used to lower the risk level and therefore price. It won’t make the £18k premium much better but it may open the door for other insurers.

[LewisC63]

Tindersticks said:

Did anything change with what you’ve told them. I’m amazed that a 21 year old would get C63 insurance for below 2k, more so without a black box.

21. Male. C63. Pretty much a nope for most insurance companies I’d have thought, hence the prices you’re seeing.

No nothings changed at all, literally only thing I’ve edited is 3year no claims instead of 2. yes I understand currently its cheap but I believe that’s due to my area/postcode, never had a blackbox and I’ve owned Mercedes E55 pushing 750hp for £1300, bmw 435i for £1400 and so on, all with different insurers.

[LewisC63]

Hoofy said:

I'm wondering if they made a mistake when they quoted £1600... and meant to quote £16000. I probably wouldn't push them about it in case they demand the balance citing some small print meaning you have to pay up as you've already used their service for whatever time period.

There are the usual specialists to try eg Adrian Flux, Keith Michaels.

Let us know how you get on.

Nah at the time of purchase I had multiple quotes from different insurers, £1600 with admiral, £1800 elsewhere, 2000 elsewhere etc. I’ve made updates to my policy multiple times since regarding modifications and it’s not been flagged. As mentioned above I’ve had multiple other “performance” cars in the last few years and all been similar pricing also. Full legit all correct details.

Will have a look at those thanks.

[Crudeoink]

21 with a C63 that's keen on fast German cars. Unfortunately you've only got to see how most of these kind of cars are driven to see why you're being quoted such daft figures. You probably got lucky before, try and stick with your current insurer of you can. I managed to insure a XJR at 21 (10 years ago now) for about £400/year. Albeit with footman James so no cover for commuting etc

[LewisC63]

VeeReihenmotor6 said:

That is rubbish, but to answer your question risk profiles change and insurance costs follow to match. Have you done any quotes on other cars, perhaps your old ones, to see if they too have a 12x increase?

To add I'm 41 years old, living in a lovely rural area, clean licence etc and get quotes for about what you thought you were quoted on a C63.

Yes mate, looked at multiple other cars that I’d looked at in the past and quotes for those have also gone insane, around 9/10k.

Mentioned above to someone else, the past 3 years I’ve paid similar prices from multiple other insurers on similar performance cars that I’ve owned. 2 different AMGs with admiral both sub £2k and never had any problems.

[LewisC63]

trevalvole said:

Have you got your renewal through from your existing insurer yet?

No not yet, I got in touch with them today but they said they’ll send it out 23 days before renewal, which should be sometime this week. Obviously not looking good though as they are going to follow suit like everyone else, not like when I bought the car they were the only ones offering sub £2k, I had at least 10 viable choices at the time.

[Scrump]

LewisC63 said:

Nah at the time of purchase I had multiple quotes from different insurers, £1600 with admiral, £1800 elsewhere, 2000 elsewhere etc. I’ve made updates to my policy multiple times since regarding modifications and it’s not been flagged. As mentioned above I’ve had multiple other “performance” cars in the last few years and all been similar pricing also. Full legit all correct details.

Will have a look at those thanks.

You mentions updates since the cheap quotes to cover modifications.
Could the mods be the reason?
Were the original cheap quotes for an unmodified car and the current quotes for a modified one?

[DD3566]

I think you must have fallen into a weird no-mans-land of risk, as barely any under 21's will be in the position to afford AMG's and the like so there is no data to assess risk from. Now you're a bit older there will be more risk data for companies to base prices from, and sadly they have decided the risk profile is too high and have priced accordingly. Other than trying the likes of Adrian Flux, Greenlight, Brentacre, Lancaster etc you might just be out of luck i'm afraid to say

[CraigyMc]

LewisC63 said:

I’ll keep it simple, I’m 21 years old, my insurance has always been cheaper than most people my age I’ve had a few mercs, few BMW’s etc all paying a very fair price for insurance.

6 months ago I bought a w204 c63 and got around 13 quotes from different companies all willing to insure me for sub £2000 without blackbox, decided to just update my current policy as it was basically the same price as my previous car. (Paid £50 extra for the change of vehicle)

My insurance is due for renewal on 10th February and I’ve just ran a search on comparison sites and there’s about 3 quotes all over £15k a year with blackbox and 1 without for £18.5k. Nothing has changed with my licence- address same, no points, no claims nothing.

Any ideas on what to do ? Any specialist insurance people would advise to check ? I understand that insurance has gone up for most people but not 12x, I’m basically forced to sell my car and lose a significant amount of investment without any explanation. Better yet I’ve only got a month to sort it and probably end up paying more to insure a micra than I did for my c63

If you can't get it insured for sensible money, it's time to look at other cars.

One of mine got really expensive when the manufacturer discontinued parts support for it. I wonder if yours (probably just about to click over 10 years since the last one was made) will get to that point during this period of insurance cover.

Lots of German makes only provision for 10 years of parts supply after the last one's made. Since the insurer would be on the hook for repairs, they'd be careful to ensure repairs are actually possible in the first place.

[andy43]

If you’ve modded since, a meerkat computer will give you a stupid quote.
As above, you’ll need a specialist insurer, maybe those above, or those recommended on AMG forums for modded cars.
Plus if you’ve disclosed everything with your current insurers I can’t see them increasing your renewal ten fold so I’d be going to them first.

[sortedcossie]

could be that the algorithms that the "underwriters" use was wrong for your combination of vehicles and demographic background, which has been updated and thus blanket updated the brokers.

[SkodaIan]

Scrump said:

LewisC63 said:

Nah at the time of purchase I had multiple quotes from different insurers, £1600 with admiral, £1800 elsewhere, 2000 elsewhere etc. I’ve made updates to my policy multiple times since regarding modifications and it’s not been flagged. As mentioned above I’ve had multiple other “performance” cars in the last few years and all been similar pricing also. Full legit all correct details.

Will have a look at those thanks.

You mentions updates since the cheap quotes to cover modifications.
Could the mods be the reason?
Were the original cheap quotes for an unmodified car and the current quotes for a modified one?

I'm a bit confused by the OPs posts. In the first post they said that nothing had changed since last year's quote, and then in another post they said policy had been updated multiple times since to declare modifications.
If the car has been modified since last year, as far as the insurer is concerned everything has changed particularly for a new policy.

The modifications will be the reason for the "go away" price - most mainstream insurers and comparison site driven quotes can't be bothered with them. Even just declaring a tow bar on a comparison site can cause some silly premiums to appear.

Have you tried running a quote without the modifications declared to see what premium it comes up with then?

[Geoffcapes]

Put a parent on the insurance, even if they never drive it. and watch the premium plummet!

[alscar]

LewisC63 said:

I’ll keep it simple, I’m 21 years old, my insurance has always been cheaper than most people my age I’ve had a few mercs, few BMW’s etc all paying a very fair price for insurance.

6 months ago I bought a w204 c63 and got around 13 quotes from different companies all willing to insure me for sub £2000 without blackbox, decided to just update my current policy as it was basically the same price as my previous car. (Paid £50 extra for the change of vehicle)

My insurance is due for renewal on 10th February and I’ve just ran a search on comparison sites and there’s about 3 quotes all over £15k a year with blackbox and 1 without for £18.5k. Nothing has changed with my licence- address same, no points, no claims nothing.

Any ideas on what to do ? Any specialist insurance people would advise to check ? I understand that insurance has gone up for most people but not 12x, I’m basically forced to sell my car and lose a significant amount of investment without any explanation. Better yet I’ve only got a month to sort it and probably end up paying more to insure a micra than I did for my c63

To be honest I'm amazed the premium was so cheap 6 months ago although as a mid term change whilst you say the ap was £50 what were you paying already and on what car ?
Insurers change strategy frequently and you age and car will put you on the back foot instantly irrespective of what your record is like -good or bad.
Those aren't quotes you have been given but are prices to go away unfortunately.
As stated you need to try a specialist broker not comparison sites.
AF has been mentioned but perhaps someone like Howdens ( previously A Plan ) might be worthwhile.
I don't know what you are expecting to pay but if anyone quotes you less than £5k I would bite their hand off assuming you can afford it.
Best of luck.