Why is an 09 cheaper to insure than a 58
Discussion
I've been having fun trying to get an insurance quote... can anyone explain why a 58-reg car costs more to insure than an identical 09-reg car?
Everything is the same; the value, the model, my details, the named drivers etc etc, yet the 09 comes back about £50 cheaper
Simply makes no sense!
Everything is the same; the value, the model, my details, the named drivers etc etc, yet the 09 comes back about £50 cheaper
Simply makes no sense!
Try this:
My friend and I flatshared in London. He was a year younger than me (both over 30) and single, I was married. Both driving over 10 years, full NCB, no claims, no convictions.
Same car, same address etc: I was DOUBLE what he was at the same insurer. They could give no explanation why.
My friend and I flatshared in London. He was a year younger than me (both over 30) and single, I was married. Both driving over 10 years, full NCB, no claims, no convictions.
Same car, same address etc: I was DOUBLE what he was at the same insurer. They could give no explanation why.
Take it with a pinch of salt but it may be to do with the expected mechanical condition of the vehicle. It's possible that the computer adds a nominal fee to an older car as it's had more time on the road in which to wear.
Alternatively, there may have been a claim on a 58 plate model of the car you're insuring and not on an 09. Also why two identical 106s may have a large difference in insurance price if one is kept in a retirement village, and one kept on a busy main road next to a caahncil estate. Postcode pricing.
Alternatively, there may have been a claim on a 58 plate model of the car you're insuring and not on an 09. Also why two identical 106s may have a large difference in insurance price if one is kept in a retirement village, and one kept on a busy main road next to a caahncil estate. Postcode pricing.
SteveS Cup said:
Stumped!
But...
Audi A1 1.4 TFSI 122bhp...
Sport which is mid range £800 per year.
S line which is £2k more expensive to buy and top of the range is £650 per year!
The sport isn't any "sportier"... The s line has bigger wheels, better kit and is worth more!!!
Maybe because there'll be less of the S-Line and that statistically means less crashes?But...
Audi A1 1.4 TFSI 122bhp...
Sport which is mid range £800 per year.
S line which is £2k more expensive to buy and top of the range is £650 per year!
The sport isn't any "sportier"... The s line has bigger wheels, better kit and is worth more!!!
edo said:
quote department of a car insurance company....
I think youll find its more like (not that its much better)
Probably loss information tbh, there are preobably less accidents involving the 09 of that car than the 58.
And to the other bloke who's insurance was twice that of his flatmates, did you guys do the same job?
Panayiotis said:
I think youll find its more like (not that its much better)
Probably loss information tbh, there are preobably less accidents involving the 09 of that car than the 58.
And to the other bloke who's insurance was twice that of his flatmates, did you guys do the same job?
This,Probably loss information tbh, there are preobably less accidents involving the 09 of that car than the 58.
And to the other bloke who's insurance was twice that of his flatmates, did you guys do the same job?
Just to throw a spanner in the works I would say most quotes I run each day show older cars to be cheaper on insurance.
Its all down to statistics, there are no right or wrong answers as to why a price is higher or lower, to just comes down to grouped risks.
What you don't see is the fact that most insurers don't actually underwrite the risk themselves - they are just intermediaries that use a panel of underwriters. Not all underwriters are interested in all the risks presented to them, and what they are interested in varies from day to day.
Eg: Quote 1 - priced by underwriters A, B and D, with A being the cheapest.
Quote 2 - priced by underwriters B, C and D, with D being the cheapest. Underwriter A didn't provide a quote this time because they only wany cars < 2 years old this week.
The pricing from underwriter D might have been identical for both cars, but you don't see their price for quote 1, because for quote 1 there was a cheaper price from a different underwriter and that's the one the intermediary (your "insurer" showed you)
Eg: Quote 1 - priced by underwriters A, B and D, with A being the cheapest.
Quote 2 - priced by underwriters B, C and D, with D being the cheapest. Underwriter A didn't provide a quote this time because they only wany cars < 2 years old this week.
The pricing from underwriter D might have been identical for both cars, but you don't see their price for quote 1, because for quote 1 there was a cheaper price from a different underwriter and that's the one the intermediary (your "insurer" showed you)
deveng said:
Maybe your statistically less likely to make a claim in a newer car.
This ... Having worked for an insurer although normally when brand new. As your new car will be you pride and joy and going to be looking after it. That said loss ratios are very in depth so yes age and stats one a specific model and year have an impact.
It seems to be all about statistics, My 19 year old son insures an e30 320 for less than his previous 16v punto, My 18 year old son insures his 20v non turbo golf gti for the same money as his previous 8v punto. on the reverse of this my mates dad 69 was paying circa 280 on a diesel mondeo and got a renewal of circa 750 nothing had changed no claims etc. It just dont make much sense anymore you just need to find undisirable cars that have low risk statistiss.
Found a loophole, if I don't enter the registration number and instead just select the make/ model from the list it comes out at the 09-reg price. Oddly they don't ask for a date of registration. Will ring up tomorrow. What an utterly bizarre system. Its Admiral group if anyone was wondering.
va1o said:
Found a loophole, if I don't enter the registration number and instead just select the make/ model from the list it comes out at the 09-reg price. Oddly they don't ask for a date of registration. Will ring up tomorrow. What an utterly bizarre system. Its Admiral group if anyone was wondering.
Thats not a "loophole", thats you knowingly entering false information to obtain a cheaper price, i'll let you work out the word thats used to refer to those sort actions....How the hell is that entering false information? I selected my car from the list and requested a quote, what's wrong with that?
EDIT: When I ring them up I will be providing the actual registration number of the car as you can't buy the policy without it....
EDIT 2: Its a 2009 model year car anyway....
EDIT: When I ring them up I will be providing the actual registration number of the car as you can't buy the policy without it....
EDIT 2: Its a 2009 model year car anyway....
Edited by va1o on Saturday 19th March 23:04
I had to select the make/model of a vehicle on Admiral as putting in the number plate option bought up the incorrect model of vehicle. Apparantly they use experian vehicle check to do this - so the car is on there incorrectly. Always worth putting the make/model in though as at least then you knwo its correct.
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