Car insurance no discount for new customers
Discussion
Just had quote for renewal of insurance, up 50%. So how did government legislation to stop companies discounting new customers against previous customers help?
Car is 2002 CL500 merc, full NCB, geriatric ol’ me, no previous claims full NCB.
They have reduced car value to little more than scrap value despite low miles and good service history. All the known likely faults on the car, and there are plenty of them, have been fixed.
Shame I love the car to bits, all the toys, comfortable, fuel consumption irrelevant considering the low mileage I do per year. Suits my purpose, virtually no depreciation just running costs per year.
Used insurance comparison site to compare, all about same price. Shysters and con men the lot of them, insurance companies and politicians.
Car is 2002 CL500 merc, full NCB, geriatric ol’ me, no previous claims full NCB.
They have reduced car value to little more than scrap value despite low miles and good service history. All the known likely faults on the car, and there are plenty of them, have been fixed.
Shame I love the car to bits, all the toys, comfortable, fuel consumption irrelevant considering the low mileage I do per year. Suits my purpose, virtually no depreciation just running costs per year.
Used insurance comparison site to compare, all about same price. Shysters and con men the lot of them, insurance companies and politicians.
It was the FCA for a start. And it has essentially had the effect they intended.
Prices as a whole haven’t shot up overall, albeit they may have in your particular circumstances. The GI Pricing regulations change is extremely unlikely to be having a major impact on your quotes though to the degree you state.
You are generally free to change the valuation listed on the policy.
Have you checked any form of classic insurance since the usage you state could lend itself to that sort of policy?
Prices as a whole haven’t shot up overall, albeit they may have in your particular circumstances. The GI Pricing regulations change is extremely unlikely to be having a major impact on your quotes though to the degree you state.
You are generally free to change the valuation listed on the policy.
Have you checked any form of classic insurance since the usage you state could lend itself to that sort of policy?
Mr Tidy said:
I don't know if it is in any way related to this legislation but last year I went with Saga for my BMW 330i for just £241.56, and then the renewal came through last week for £206.58 - happy days!
How do you know it's happy days? Had it not been for the legislation, Saga might have offered renewal for £300, but you might have got a lower quote by doing a new policy with them, maybe for £180. As you went to Saga just last year, it sounds like you make the effort to shop around. You're now subsidising lazy buggers who can't be arsed.
TwigtheWonderkid said:
You're now subsidising lazy buggers who can't be arsed.
Seem to recall we had this discussion a few days ago on the other thread. Sorry, but this comment says more about you than it does anything else. And I'm an avid shopper who will put full effort into getting the best deals. The difference is I realise not everyone is like me and I don't judge them for being different.
Might have worked Deky, thanks. Searched for classic car insurance with money supermarket.
RAC quoted 215, and so did most other insurers, minor differences.
Phoned RAC but they would not budge.
Got insurance for £160 in the end from Sheila’s wheels, reputable company, only do 1800 miles a year, they must check miles between mot’s so they can spot the fibbers.
RAC quoted 215, and so did most other insurers, minor differences.
Phoned RAC but they would not budge.
Got insurance for £160 in the end from Sheila’s wheels, reputable company, only do 1800 miles a year, they must check miles between mot’s so they can spot the fibbers.
TwigtheWonderkid said:
Mr Tidy said:
I don't know if it is in any way related to this legislation but last year I went with Saga for my BMW 330i for just £241.56, and then the renewal came through last week for £206.58 - happy days!
How do you know it's happy days? Had it not been for the legislation, Saga might have offered renewal for £300, but you might have got a lower quote by doing a new policy with them, maybe for £180. As you went to Saga just last year, it sounds like you make the effort to shop around. You're now subsidising lazy buggers who can't be arsed.
Mr Tidy said:
TwigtheWonderkid said:
Mr Tidy said:
I don't know if it is in any way related to this legislation but last year I went with Saga for my BMW 330i for just £241.56, and then the renewal came through last week for £206.58 - happy days!
How do you know it's happy days? Had it not been for the legislation, Saga might have offered renewal for £300, but you might have got a lower quote by doing a new policy with them, maybe for £180. As you went to Saga just last year, it sounds like you make the effort to shop around. You're now subsidising lazy buggers who can't be arsed.
Karl Marx said:
For the bureaucrat, the world is a mere object to be manipulated by him.
plenty said:
TwigtheWonderkid said:
You're now subsidising lazy buggers who can't be arsed.
Seem to recall we had this discussion a few days ago on the other thread. Sorry, but this comment says more about you than it does anything else. And I'm an avid shopper who will put full effort into getting the best deals. The difference is I realise not everyone is like me and I don't judge them for being different.
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