insurance costs - what the hell is going on !!

[blindswelledrat]

GreigM said:

I would also suggest using the comparison sites to find who is the cheapest for your "profile", but then go to their site direct and re-enter all the details - you may find it comes down even more as the questions asked are more specific to their own "system" rather than than the set used by the comparison sites - I got my price down 25% from the comparison site value by doing this.

Good top tip. I'd like to hear if more people have achieved this because I hate putting my details in

[sparkyhx]

blindswelledrat said:

GreigM said:

I would also suggest using the comparison sites to find who is the cheapest for your "profile", but then go to their site direct and re-enter all the details - you may find it comes down even more as the questions asked are more specific to their own "system" rather than than the set used by the comparison sites - I got my price down 25% from the comparison site value by doing this.

Good top tip. I'd like to hear if more people have achieved this because I hate putting my details in

And many register your details from the price comparison sites and you are then locked in to this quote - best to do the comparison site in a false name and email. Then go direct.

[U T]

GreigM said:

A lot of the theories on this thread are nonsense, namely the table of insurance postcodes and the idea that the cost of parts of a car influences premium.

I think the main factor here is the mileage, followed by the car being a 7-series (not the cost of parts,but the individual model may have a statistically bad record, without trying to make broad-brush inferences about the type of people who drive a 7-series).

There are dozens of factors that are used to calculate premium. The insurance grouping of the car is one of them, and that it dictated by a combination of performance, cost of parts, labour rates and complecity of repair, anti theft measures, passenger and pedestian saftey features and on and on. So cost of parts is relevent, although it only forms a part of the overall discision making process re the final premium.

[KaraK]

theboss - probably not helpful now you've renewed but you know my cars and knowing that I'm the same age as you and I do a similar mileage I pay about £800 a year on an Admiral MultiCar for both together and that's with my sketchy accident riddled past! Might be worth seeing what they could do for you if you put your 7 and the Missus' X3 on a multicar? Also isn't your other brother only paying about £1200 a year for his "lightly breathed on" S2 with Flux? Might be worth giving them a shout next year.

[bqf]

Whatever your company does, find a job title close to that. I own my own company, but I usually work in Banks. Therefore, I am a Bank Manager.

'Company Director' (although technically accurate) loads premiums by up to 20% of the core pricing (depending on insurer etc etc etc).

[U T]

bqf said:

Whatever your company does, find a job title close to that. I own my own company, but I usually work in Banks. Therefore, I am a Bank Manager.

'Company Director' (although technically accurate) loads premiums by up to 20% of the core pricing (depending on insurer etc etc etc).

Many jobs can be described in various ways (computer programmer/IT specialist/IT manager etc).

But a bank manager is a very specific thing. Everyone knows what a bank manager is. Someone who owns their own company and that job takes them into banks IS NOT A BANK MANAGER!!!!

If your insurer feels you've deliberately distorted the truth to obtain a lower premium, they can repudiate any claim should they find out.

[theboss]

KaraK said:

theboss - probably not helpful now you've renewed but you know my cars and knowing that I'm the same age as you and I do a similar mileage I pay about £800 a year on an Admiral MultiCar for both together and that's with my sketchy accident riddled past! Might be worth seeing what they could do for you if you put your 7 and the Missus' X3 on a multicar? Also isn't your other brother only paying about £1200 a year for his "lightly breathed on" S2 with Flux? Might be worth giving them a shout next year.

Thanks mate... the quote on a multicar policy is £943 for me (7) which is good but £1600 for the wife's X3 when I paid £825 last year.

A couple of interesting observations as Admiral's quotation system makes for very quick, easy changes:

1) changing my occupation from 'company director' to 'computer consultant' reduced the premium by nearly £100. But I'm already down as IT Consultant on my current DL policy so no saving there.

2) dropping the missus off my policy increased the premium by £500 !

3) dropping me off the missus's policy decreased the premium by £500 !
The problem is - I drive her car a lot (we use it for family duties and she always prefers me to drive)

4) dropping the 3 points reduced both premiums by £250

So, the 3 points I'm set to aquire are actually going to cost me 2 x £250 (because I have to be a named driver on the wife's car) for the next 5 years. Great......

[KaraK]

theboss said:

Thanks mate... the quote on a multicar policy is £943 for me (7) which is good but £1600 for the wife's X3 when I paid £825 last year.

A couple of interesting observations as Admiral's quotation system makes for very quick, easy changes:

1) changing my occupation from 'company director' to 'computer consultant' reduced the premium by nearly £100. But I'm already down as IT Consultant on my current DL policy so no saving there.

2) dropping the missus off my policy increased the premium by £500 !

3) dropping me off the missus's policy decreased the premium by £500 !
The problem is - I drive her car a lot (we use it for family duties and she always prefers me to drive)

4) dropping the 3 points reduced both premiums by £250

So, the 3 points I'm set to aquire are actually going to cost me 2 x £250 (because I have to be a named driver on the wife's car) for the next 5 years. Great......

Ouch.. wonder why they increased the X3 that much relatively?

PITA about the three points, didn't you have a naughty-boy course as well? Do you have to declare that?

[Sonic]

KaraK said:

theboss - probably not helpful now you've renewed but you know my cars and knowing that I'm the same age as you and I do a similar mileage I pay about £800 a year on an Admiral MultiCar for both together and that's with my sketchy accident riddled past! Might be worth seeing what they could do for you if you put your 7 and the Missus' X3 on a multicar? Also isn't your other brother only paying about £1200 a year for his "lightly breathed on" S2 with Flux? Might be worth giving them a shout next year.

£1300/year with sky now, 6 years NCB, and that includes the extensive list of modifications and power increases i.e pretty much same the same cost as last year but with double the power.

The clio is £400/year i think, and that's come down every year i've had it, including the year i lost the NCB on it and with that accident declared - still can't work that out!

[Sonic]

KaraK said:

theboss said:

Thanks mate... the quote on a multicar policy is £943 for me (7) which is good but £1600 for the wife's X3 when I paid £825 last year.

A couple of interesting observations as Admiral's quotation system makes for very quick, easy changes:

1) changing my occupation from 'company director' to 'computer consultant' reduced the premium by nearly £100. But I'm already down as IT Consultant on my current DL policy so no saving there.

2) dropping the missus off my policy increased the premium by £500 !

3) dropping me off the missus's policy decreased the premium by £500 !
The problem is - I drive her car a lot (we use it for family duties and she always prefers me to drive)

4) dropping the 3 points reduced both premiums by £250

So, the 3 points I'm set to aquire are actually going to cost me 2 x £250 (because I have to be a named driver on the wife's car) for the next 5 years. Great......

Ouch.. wonder why they increased the X3 that much relatively?

PITA about the three points, didn't you have a naughty-boy course as well? Do you have to declare that?

Yes - he should count himself lucky he isn't declaring 6 points.

[KaraK]

Sonic said:

KaraK said:

theboss - probably not helpful now you've renewed but you know my cars and knowing that I'm the same age as you and I do a similar mileage I pay about £800 a year on an Admiral MultiCar for both together and that's with my sketchy accident riddled past! Might be worth seeing what they could do for you if you put your 7 and the Missus' X3 on a multicar? Also isn't your other brother only paying about £1200 a year for his "lightly breathed on" S2 with Flux? Might be worth giving them a shout next year.

£1300/year with sky now, 6 years NCB, and that includes the extensive list of modifications and power increases i.e pretty much same the same cost as last year but with double the power.

The clio is £400/year i think, and that's come down every year i've had it, including the year i lost the NCB on it and with that accident declared - still can't work that out!

I was close! Any joy with that boost leak?

[theboss]

KaraK said:

I was close! Any joy with that boost leak?

Talk about thread deviation you gimps.

OK so I've done some more tests with Admiral and it would appear my postcode is a bit dodgy. I changed it to two neighbouring postcodes (these are literally the next streets) and one is *substantially* less to the tune of about £450 on the combined multi-car policy costs. Interestingly the houses on the opposite side of the street to my house (which are a different postcode) are slightly more than mine. There's no explanation for such wild deviation as we are all in the same area. I'm about 100 yards away from the river Severn so maybe they perceive flood risk, but then the cheaper postcode I mention is actually substantially lower in elevation than where I am!

[KaraK]

theboss said:

KaraK said:

I was close! Any joy with that boost leak?

Talk about thread deviation you gimps.

OK so I've done some more tests with Admiral and it would appear my postcode is a bit dodgy. I changed it to two neighbouring postcodes (these are literally the next streets) and one is *substantially* less to the tune of about £450 on the combined multi-car policy costs. Interestingly the houses on the opposite side of the street to my house (which are a different postcode) are slightly more than mine. There's no explanation for such wild deviation as we are all in the same area. I'm about 100 yards away from the river Severn so maybe they perceive flood risk, but then the cheaper postcode I mention is actually substantially lower in elevation than where I am!

Suprising that it varies that much on such a small distance? Maybe your house was previous inhabited by a serial Ferrari-wrecker?

[julian64]

reply to the OP.

THIS

http://www.pistonheads.com/gassing/topic.asp?h=0&a... 'real' accident.

[theboss]

KaraK said:

Suprising that it varies that much on such a small distance? Maybe your house was previous inhabited by a serial Ferrari-wrecker?

It was a new build when we moved in. I did phone the local police station once about a problem involving some feral teenagers causing trouble on the street below... which escalated when they invaded our garden. I'm wondering if that's scewed the crime stats for the area for good.

[JWH]

theboss said:

Talk about thread deviation you gimps.

OK so I've done some more tests with Admiral and it would appear my postcode is a bit dodgy. I changed it to two neighbouring postcodes (these are literally the next streets) and one is *substantially* less to the tune of about £450 on the combined multi-car policy costs. Interestingly the houses on the opposite side of the street to my house (which are a different postcode) are slightly more than mine. There's no explanation for such wild deviation as we are all in the same area. I'm about 100 yards away from the river Severn so maybe they perceive flood risk, but then the cheaper postcode I mention is actually substantially lower in elevation than where I am!

Last year I moved to another house around 300m away on the same estate, postcode change from CV23 0xx to CV23 0yy. I only had three month or so of the policy to run and the extra cost was around £45 on a £500 policy which extrapolates to an enourmous annual percentage premium difference. Totally failed to understand that.

[GreigM]

JWH said:

Last year I moved to another house around 300m away on the same estate, postcode change from CV23 0xx to CV23 0yy. I only had three month or so of the policy to run and the extra cost was around £45 on a £500 policy which extrapolates to an enourmous annual percentage premium difference. Totally failed to understand that.

There's an admin charge, the staff don't work for free you know.

[KaraK]

theboss said:

KaraK said:

Suprising that it varies that much on such a small distance? Maybe your house was previous inhabited by a serial Ferrari-wrecker?

It was a new build when we moved in. I did phone the local police station once about a problem involving some feral teenagers causing trouble on the street below... which escalated when they invaded our garden. I'm wondering if that's scewed the crime stats for the area for good.

Wouldn't have thought so... maybe with it being a new build there is no "good" history for the postcode and it just starts off at a high default?

[Sonic]

KaraK said:

theboss said:

KaraK said:

Suprising that it varies that much on such a small distance? Maybe your house was previous inhabited by a serial Ferrari-wrecker?

It was a new build when we moved in. I did phone the local police station once about a problem involving some feral teenagers causing trouble on the street below... which escalated when they invaded our garden. I'm wondering if that's scewed the crime stats for the area for good.

Wouldn't have thought so... maybe with it being a new build there is no "good" history for the postcode and it just starts off at a high default?

But it hasn't been for the last couple of years whilst he's lived there.

[theboss]

Sonic said:

But it hasn't been for the last couple of years whilst he's lived there.

Our postcode is shared with a local industrial estate (I know...)

This harks back to the 60's when the house next to ours was built, and there was nothing around in the area except a few small industrial units up the lane. So that house gets the same postcode.

As things develop around it they get new postcodes, but the single house next to ours (with a good chunk of land around it) stays on the original postcode.

So fastforward to several years ago when the owner of this house decides to build our house (on his land) and, sure enough, it 'inherits' the original postcode. Its a problem because our address doesn't actually reflect where we live, courier drivers have a lot of trouble with it. But that's the 'official' royal mail address and the one that ends up on all the postcode databases.

I had a similar problem when I lived in an ex-MOD house down at Arborfield in Berkshire. It was an RG2 postcode (shared with the Whitley Wood estate in Reading at least 6-7 miles away) but all the surrounding villages were RG40, RG41 and so on. I used to pay nearly double the insurance as my friends up the road. I'm guessing that when the housing switched from MOD to civilian they had to assign a postcode and somebody somewhere just randomly said "here use this one"