Bizarre car insurance hike
Discussion
Renewal time and premium has gone up by 80%, been with them 3 years.
No additional claims, points etc, nothing has changed inc. the postcode clasification.
Its a multi car policy but the increase is across the board ie each car has gone up by 80% so not a particular car running away with things.
Phoned them up and they cant explain it either, they did a load of discounting but it still remain 50% higher.
This is where it gets strange.. under a different name but the same address i put through exactly the same details as a new client under a different name at the house next door et voila, same cost as last year without the hike.
Rang them up again and explained, they took the new quote details of the fictitious quote i put through and confirmed all details were in fact the same, only a different name and they couldnt explain why..
Anyone else had this?
i’m of the mind to cancel the renewal and just put through a new quote as a new customer once the existing policy has expired and see where that goes, any drawbacks to this, other than a day without insurance obviously.
No additional claims, points etc, nothing has changed inc. the postcode clasification.
Its a multi car policy but the increase is across the board ie each car has gone up by 80% so not a particular car running away with things.
Phoned them up and they cant explain it either, they did a load of discounting but it still remain 50% higher.
This is where it gets strange.. under a different name but the same address i put through exactly the same details as a new client under a different name at the house next door et voila, same cost as last year without the hike.
Rang them up again and explained, they took the new quote details of the fictitious quote i put through and confirmed all details were in fact the same, only a different name and they couldnt explain why..
Anyone else had this?
i’m of the mind to cancel the renewal and just put through a new quote as a new customer once the existing policy has expired and see where that goes, any drawbacks to this, other than a day without insurance obviously.
Aventador 700 said:
Renewal time and premium has gone up by 80%, been with them 3 years.
No additional claims, points etc, nothing has changed inc. the postcode clasification.
Its a multi car policy but the increase is across the board ie each car has gone up by 80% so not a particular car running away with things.
Phoned them up and they cant explain it either, they did a load of discounting but it still remain 50% higher.
This is where it gets strange.. under a different name but the same address i put through exactly the same details as a new client under a different name at the house next door et voila, same cost as last year without the hike.
Rang them up again and explained, they took the new quote details of the fictitious quote i put through and confirmed all details were in fact the same, only a different name and they couldnt explain why..
Anyone else had this?
i’m of the mind to cancel the renewal and just put through a new quote as a new customer once the existing policy has expired and see where that goes, any drawbacks to this, other than a day without insurance obviously.
It's feasible it could be related to a credit rating thing on the name supplied for each quote.No additional claims, points etc, nothing has changed inc. the postcode clasification.
Its a multi car policy but the increase is across the board ie each car has gone up by 80% so not a particular car running away with things.
Phoned them up and they cant explain it either, they did a load of discounting but it still remain 50% higher.
This is where it gets strange.. under a different name but the same address i put through exactly the same details as a new client under a different name at the house next door et voila, same cost as last year without the hike.
Rang them up again and explained, they took the new quote details of the fictitious quote i put through and confirmed all details were in fact the same, only a different name and they couldnt explain why..
Anyone else had this?
i’m of the mind to cancel the renewal and just put through a new quote as a new customer once the existing policy has expired and see where that goes, any drawbacks to this, other than a day without insurance obviously.
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Thanks for input
CraigyMc said:
It's feasible it could be related to a credit rating thing on the name supplied for each quote.
Guess it could be, but again, nothing has changed since last year, we have nothing on credit and havent for years so zero change from our perspective…BrettMRC said:
Can you compare with a different insurer?
Personally if they can't tell you why they've decide to ream you I would not consider putting any further business their way... if this is what they are like at a renewal, how will they behave in the event of a loss?
There arent any multi car search engines unfortunately but single car searches results in same costs as previous year, so a winner but hassle as its separate companies for each car, Boom (never heard of them) and shelias wheels, cover seems the same, no idea how reputable they are though, i was with Admiral who always seem to be ok but have never claimed from them.Personally if they can't tell you why they've decide to ream you I would not consider putting any further business their way... if this is what they are like at a renewal, how will they behave in the event of a loss?
steveo3002 said:
probably something in their software to stiff a regular customer, we find we have to move car /house insurance as they try it on next year
This is what i suspect which i find crazy, with the ease at which people can move on, how can this be a strategy, bit discriminatory no? Bizarre attitude if it is this, imo. Thanks for input
Edited by Aventador 700 on Wednesday 16th November 04:22
Are any of the vehicles now old enough that a crash repair would be difficult due to parts availability?
It may creep over a line into write off coverage rather than cheaper repair.
Or the insurer may have changed their model so that they broad brush more stuff to cut their own staffing costs.
Loads of things can affect premiums, not just your circumstances, even though your own circumstances may have changed in ways you don't consider change.
There are tables for risk, and they don't always go down with age. Older cars have less safety gear and wind up with different risk profiles than new ones.
It may creep over a line into write off coverage rather than cheaper repair.
Or the insurer may have changed their model so that they broad brush more stuff to cut their own staffing costs.
Loads of things can affect premiums, not just your circumstances, even though your own circumstances may have changed in ways you don't consider change.
There are tables for risk, and they don't always go down with age. Older cars have less safety gear and wind up with different risk profiles than new ones.
There was recent thread on here about the same thing happening to a Bently owner.
Also, on a GTR forum, the same thing has been reported a few times recently.
And the common factor? Admiral multicar.
As it happens, I've an Admiral multicar policy wich is due in a couple of months, so I will know then if they try and have me over as well.
Also, on a GTR forum, the same thing has been reported a few times recently.
And the common factor? Admiral multicar.
As it happens, I've an Admiral multicar policy wich is due in a couple of months, so I will know then if they try and have me over as well.
CraigyMc said:
Are any of the vehicles now old enough that a crash repair would be difficult due to parts availability?
It may creep over a line into write off coverage rather than cheaper repair.
Or the insurer may have changed their model so that they broad brush more stuff to cut their own staffing costs.
Loads of things can affect premiums, not just your circumstances, even though your own circumstances may have changed in ways you don't consider change.
There are tables for risk, and they don't always go down with age. Older cars have less safety gear and wind up with different risk profiles than new ones.
Good points but no, exactly the same car details put through under a pseudonym which resulted in the same premium cost as previous year, it absolutely stands out that they are penalising existing customers.It may creep over a line into write off coverage rather than cheaper repair.
Or the insurer may have changed their model so that they broad brush more stuff to cut their own staffing costs.
Loads of things can affect premiums, not just your circumstances, even though your own circumstances may have changed in ways you don't consider change.
There are tables for risk, and they don't always go down with age. Older cars have less safety gear and wind up with different risk profiles than new ones.
snuffy said:
There was recent thread on here about the same thing happening to a Bently owner.
Also, on a GTR forum, the same thing has been reported a few times recently.
And the common factor? Admiral multicar.
As it happens, I've an Admiral multicar policy wich is due in a couple of months, so I will know then if they try and have me over as well.
Interesting, one of mine is the gtr (amg) other is the aventador, wonder if its an existing customer, premium car thing?? be interesting to hear what you get through Also, on a GTR forum, the same thing has been reported a few times recently.
And the common factor? Admiral multicar.
As it happens, I've an Admiral multicar policy wich is due in a couple of months, so I will know then if they try and have me over as well.
Guy on the phone insisted their algorithms are the same for new or existing customers, uh huh.. but you cant explain the difference in £ for this exact same person at the same address with the same cars? er no.
If it is a ‘thing’ against existing customers, what are peoples opinions on that? if they openly admit to discounting for new customers then fair enough, you accept and move on as its a company making money but lying about it bugs me if i’m honest, its not about the money as its most likely going to be cheaper for me anyway but when insurance companies themselves are so insistant on the truth being told by clients, it probably niggles me more than it would with any other industry.
Eta - just looked at your profile, obviously nissan gtr
totally agreement on the aston comment, made me laugh as they are my thoughts exactly, mine was a really underwhelming car.Edited by Aventador 700 on Wednesday 16th November 06:12
Aventador 700 said:
alfa-alex said:
Renewals for car insurance and home insurance are not allowed to be more than they would be for a new customer…. FCA rules as of 2022
Interesting, have you the specific ruling within the fca rules where this applies?If I insure with ABC Insurance, renewal will be £750 this year because that is the price they will give a new policyholder for the same T&C's.
If I go via a price comparison site, I find I can insure with ABC Insurance for £500, because it's not a general direct policy - it's now a broker policy with say legal, windscreen, personal accident, key cover and fuel cover included as standard. It's not the same policy as the renewal one above.
Insurance is still very much new business led and if you want the decent prices you might have to split the multicar policies and go singular again. For the record I cancelled my renewal with Tesco last year, and renewed via Tesco (comparison site quote).
.The Naval branded multicar insurer did similar this year here.
Got it for less than last year with LV and one other, better policy, lower excess, they could come down a bit, but nowhere near the match. I’ve a young driver still earning NCB and years of no claims and theirs had went up, when I expect these to go down.
I’m still with this insurer for travel insurance, seems if you abandon them altogether the next thing you quote is a good price. We only went multicar after we binned their home insurance, as it wasn’t competitive before.
I’ve no loyalty anyway with insurance, I compare the price and the cover, and make sure it’s from a provider I’ve actually heard of.
Got it for less than last year with LV and one other, better policy, lower excess, they could come down a bit, but nowhere near the match. I’ve a young driver still earning NCB and years of no claims and theirs had went up, when I expect these to go down.
I’m still with this insurer for travel insurance, seems if you abandon them altogether the next thing you quote is a good price. We only went multicar after we binned their home insurance, as it wasn’t competitive before.
I’ve no loyalty anyway with insurance, I compare the price and the cover, and make sure it’s from a provider I’ve actually heard of.
Aventador 700 said:
Renewal time and premium has gone up by 80%, been with them 3 years.
Here we go, found it.Doubling of quote on a Bently, with Admiral:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
With 2 of my vehicles, I stayed with the same company this year because switching would actually have been slightly more. First time for a good 5 years or so I've done that, so the new rules worked for me.
One of the companies (Saga for the Merc
) didn't actually appear as an option on the comparison site quotes for me this year, but renewal was £10 less than last year when I got the renewal notice. I've actually switched my home insurance to the Naval officer's hat this year, beat my renewal by 20%, even with a declared claim for a new shed trashed by the storm in No. 2021.
I dabbled with multicar policies, but it was too awkward aligning all the renewal dates, and I've managed to build up 2 different amounts of NCD. Add a classic car or 2 in and a possible claim would be very detrimental.
One of the companies (Saga for the Merc
) didn't actually appear as an option on the comparison site quotes for me this year, but renewal was £10 less than last year when I got the renewal notice. I've actually switched my home insurance to the Naval officer's hat this year, beat my renewal by 20%, even with a declared claim for a new shed trashed by the storm in No. 2021. I dabbled with multicar policies, but it was too awkward aligning all the renewal dates, and I've managed to build up 2 different amounts of NCD. Add a classic car or 2 in and a possible claim would be very detrimental.
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