Please help: 360 insurance quote doubled!!

[ThreesixtyM]

Hi all. I was wondering if anyone else has experienced a big increase in renewal premiums, I'm currently on an Admiral Multicar policy but the figures they're throwing around for next year are hugely more expensive, with the biggest increase being for the 360 obviously. Could anyone recommend another insurer? Thanks in advance.

[UH-Matt]

I am about to renew with Admiral and my insurance has stayed around the same this year, but with a couple of new mods declared, so I guess its gone marginally down.

Interestingly I did the usual phone around, tried a couple of PH and Supercarhub recommended insurers and also used two comparison sites, and NO OTHER COMPANY WOULD TOUCH ME. OK so I am only 28 and trying to insure an expensive Gallardo, but why would Admiral (who I am with now) quote so low (£1000) while anyone else was 2 or 3 times more expensive, or simply not quote. Usually there are at least 2 or 3 companies who would be fairly close to each other! Guess I am sticking with Admiral

[Shmee150]

UH-Matt said:

I am about to renew with Admiral and my insurance has stayed around the same this year, but with a couple of new mods declared, so I guess its gone marginally down.

Interestingly I did the usual phone around, tried a couple of PH and Supercarhub recommended insurers and also used two comparison sites, and NO OTHER COMPANY WOULD TOUCH ME. OK so I am only 28 and trying to insure an expensive Gallardo, but why would Admiral (who I am with now) quote so low (£1000) while anyone else was 2 or 3 times more expensive, or simply not quote. Usually there are at least 2 or 3 companies who would be fairly close to each other! Guess I am sticking with Admiral

Admiral just seem to like young people who have a good record. Granted my car isn't as tasty as yours and I'm also a bit younger but now with 4yrs NCB and no convictions; yet all other companies quote over double what I am offered year on year from Admiral.

[JayK12]

Shmee150 said:

UH-Matt said:

I am about to renew with Admiral and my insurance has stayed around the same this year, but with a couple of new mods declared, so I guess its gone marginally down.

Interestingly I did the usual phone around, tried a couple of PH and Supercarhub recommended insurers and also used two comparison sites, and NO OTHER COMPANY WOULD TOUCH ME. OK so I am only 28 and trying to insure an expensive Gallardo, but why would Admiral (who I am with now) quote so low (£1000) while anyone else was 2 or 3 times more expensive, or simply not quote. Usually there are at least 2 or 3 companies who would be fairly close to each other! Guess I am sticking with Admiral

Admiral just seem to like young people who have a good record. Granted my car isn't as tasty as yours and I'm also a bit younger but now with 4yrs NCB and no convictions; yet all other companies quote over double what I am offered year on year from Admiral.

Admiral have been good for me too being young. I had my new EVO 9 Stolen early last year so lost 3 years no claims and have only 1 years now Even though it wasnt my fault.

Im looking to get a 360 end this year and ive got a quote of them with my 1 years NCB, Dad as a named driver, just turned 26, Fully comp £1800. Im currently paying £1750 on a Honda ive almost finished building!! What a waste that is I was paying £1500 with them on the EVO at 24.

Sometimes insurance just doesnt make sense.

Edited by JayK12 on Thursday 8th July 12:25

[ThreesixtyM]

After clearly explaining that they were about to lose the business Admiral have now come down to a more reasonable level. I wouldn't say I was happy, just less unhappy! I'll try elsewhere though, if anyone can point me in the right direction. Thanks for the replies so far. Cheers.

[JayK12]

ThreesixtyM said:

After clearly explaining that they were about to lose the business Admiral have now come down to a more reasonable level. I wouldn't say I was happy, just less unhappy! I'll try elsewhere though, if anyone can point me in the right direction. Thanks for the replies so far. Cheers.

I found that too. After my EVO was stolen i put my mums Volvo C70 T5 Cabby on the policy, they charged an Admin fee, but then it came for renewal and they wanted £2450! I ran a quote on there website and it came up for £800. I think sometimes they do try and see if the customer will question it or just pay up.

[andrew.]

UH-Matt said:

OK so I am only 28 and trying to insure an expensive Gallardo, but why would Admiral (who I am with now) quote so low (£1000) while anyone else was 2 or 3 times more expensive, or simply not quote.

when asked explicitly, admiral told me that they would not use lamborghini-approved garages for repairs

[JayK12]

andrew. said:

UH-Matt said:

OK so I am only 28 and trying to insure an expensive Gallardo, but why would Admiral (who I am with now) quote so low (£1000) while anyone else was 2 or 3 times more expensive, or simply not quote.

when asked explicitly, admiral told me that they would not use lamborghini-approved garages for repairs

As a consumer do you not have the right to choose where your car is repaired?

[Shmee150]

I hear there are disadvantages of Admiral too, but when you are faced with £1200 or £3000 per year for insurance it's not a hard call!!

[JayK12]

Shmee150 said:

I hear there are disadvantages of Admiral too, but when you are faced with £1200 or £3000 per year for insurance it's not a hard call!!

They paid out exactly what i wanted when my car was stolen and pretty sharpish once police had handed the doc's over, even after sending a private eye around to question me. Guess thats due to so many scams go around these days.

[matc]

I insured my 360 through Elephant, been with them for quite a few years now and they are always better than Admiral even though they are effectively the same company!

For comparison, I'm 30 and pay £800 with my dear old Mum as a named driver!

[JayK12]

matc said:

I insured my 360 through Elephant, been with them for quite a few years now and they are always better than Admiral even though they are effectively the same company!

For comparison, I'm 30 and pay £800 with my dear old Mum as a named driver!

It always makes a big differene when you put your parents on your cars as named drivers, never worked out why?

[SpeedFreakDave]

competion car insurance or AON

[Shmee150]

JayK12 said:

matc said:

I insured my 360 through Elephant, been with them for quite a few years now and they are always better than Admiral even though they are effectively the same company!

For comparison, I'm 30 and pay £800 with my dear old Mum as a named driver!

It always makes a big differene when you put your parents on your cars as named drivers, never worked out why?

Always assumed it was something to do with that if your parents were going to drive the car (even if no more safe than you), you are more likely to look after it and respect it for when they use it. I'm not quite sure how much this comes into play in late-20s and beyond.

It is very definitely the case at a young age though (17-low 20s) where policies decrease by 50-80% or so by adding parents.

[JayK12]

Shmee150 said:

JayK12 said:

matc said:

I insured my 360 through Elephant, been with them for quite a few years now and they are always better than Admiral even though they are effectively the same company!

For comparison, I'm 30 and pay £800 with my dear old Mum as a named driver!

It always makes a big differene when you put your parents on your cars as named drivers, never worked out why?

Always assumed it was something to do with that if your parents were going to drive the car (even if no more safe than you), you are more likely to look after it and respect it for when they use it. I'm not quite sure how much this comes into play in late-20s and beyond.

It is very definitely the case at a young age though (17-low 20s) where policies decrease by 50-80% or so by adding parents.

Seems strange, but made a £400 difference on my policy last year, i added my Dad, Grandad, Aunt. Lol. The more i added the more came of the policy, yet my Grandad and Aunt never used the car.

[yellowtr]

Sometimes "cheap" insurance doesn't end up being quite so cheap when, god forbid, you end up making a claim. You do get what you pay for ultimately and the proof is in the pudding when it comes to claim time. If you can look into a Chubb Masterpiece policy.

Bare in mind if you have a claim on a cheap policy and your Ferrari is damaged with say a mainstream "online broker" (no names mentioned but its already been mentioned) you could end up with you car being repaired by a local body shop or a local main dealer-which won't neccesarily be a Ferrari dealer! It could be the local Ford/Honda garage...Also you won't get the market value of your car on cheaper insurance policies if you have a major claim.

Edited by yellowtr on Thursday 8th July 15:41

[ZOLLAR]

To the op, its always worth doing an internet quote even at renewal time,main reason it usually comes in lower is that there are very large discounts applied to internet prices aslong as you save the quote and write down the quote reference number admiral/bell/elephant/diamond will match the price (aslong as details are correct).

With regards as to where the vehicle is repaired as the customer you do have the right to request where the car is repaired but you have to get 2 independant quotes for the repairs and the courtesy car can't be guaranteed (but to be honest if you have a lamborghini or ferrari etc your likely to have a spare car anyway) also as they arn't a garage that has a contract with the insurer they can't give a time frame for repairs and don't have much leverage if the repairs drag on (unlike auth repaires who would have agreements to get the car repaired in a reasonably time) although i've never dealt with a garage that specifically deals with supercars im guessing the service would be pretty high so they arn't likely to take a long time repairing in case it damages their reputation.

Adding older drivers at the "new business stage" or on internet quotes reduces the premium due to the shared risk and that the named drivers would be very carefull driving a car that dosn't belong to them and the obvious one is that older drivers are usually seen as safer drivers.
I think that answers most of the questions any further ones feel free to post i'll try to respond the best i can!.

[UH-Matt]

yellowtr said:

Sometimes "cheap" insurance doesn't end up being quite so cheap when, god forbid, you end up making a claim. You do get what you pay for ultimately and the proof is in the pudding when it comes to claim time. If you can look into a Chubb Masterpiece policy.

Bare in mind if you have a claim on a cheap policy and your Ferrari is damaged with say a mainstream "online broker" (no names mentioned but its already been mentioned) you could end up with you car being repaired by a local body shop or a local main dealer-which won't neccesarily be a Ferrari dealer! It could be the local Ford/Honda garage...Also you won't get the market value of your car on cheaper insurance policies if you have a major claim.

I agree, but what if you are in my position (young driver on a lambo) and Admiral quote you £1000 for insurance, everyone else is either £3000+ and the "specialists" who do agreed values and all sorts aren't at all interested in even making an offer for insurance.

We are not left with much choice unfortunately.

If my car was ever in an accident, they can repair it where they like, but if its not up to scratch they will be doing it again, and again until it is up to scratch. We have rights!

As someone further up said, Admiral paid out what he wanted when his was stolen. Sometimes we have to stick up for ourselves, and yes it could end up being a bit of a fight, but they cannot always win and always do whatever they like.

[voicey]

SpeedFreakDave said:

competion car insurance

These people gave me a good quote, well Competition Car Insurance did!

(Sorry for the dig)

Edited by voicey on Thursday 8th July 20:18

[UH-Matt]

You may want to play with occupation too, big differences.

Just got mine down from £1119 to £977 by changing myself from company director to an IT profession.