Is car insurance numbers out of a hat?
Discussion
so im currently playing the insurance game at the moment, im doing okay so far for prices on an integra type R.
but here are some very very strange things ive came across.
the parking on the street rather than in a locked garage or drive has already been discussed, i think its rediculous that in a locked garage its harder to steal or vandalise, considering in the last year, 2 seperate OAPS, have caused damage to cars parked on the street which wouldnt of happened if cars were parked on drives or in garages.
mileage: i use my car mainly for fun, as i have a work van to get to and from work, rarely any long journers, i put down <1000 miles, then changed it to <5000 miles, and it dropped around 80 quid, i suppose the point relates to drive the car more, you learn the car more, but surely more chance of crashing if you drive 5 times as much?
comprehensive vs third party etc, fully comp is cheaper than third party? pay for 2 cars in an accident and it works out less?
so taking account of insurance companys mental "statistics", il accept the above. but this is where my brain is racking for ideas.
does you car have any security features?: its cheaper if i DONT!!!, if i say it has an immobiliser it jumped £86, HOW!!? surely an immobiliser makes it harder to steal, it should take the price down, if it has an immobiliser and tracker, it jumps up £300!!!
car insurance is absolutely MENTAL!!.
but here are some very very strange things ive came across.
the parking on the street rather than in a locked garage or drive has already been discussed, i think its rediculous that in a locked garage its harder to steal or vandalise, considering in the last year, 2 seperate OAPS, have caused damage to cars parked on the street which wouldnt of happened if cars were parked on drives or in garages.
mileage: i use my car mainly for fun, as i have a work van to get to and from work, rarely any long journers, i put down <1000 miles, then changed it to <5000 miles, and it dropped around 80 quid, i suppose the point relates to drive the car more, you learn the car more, but surely more chance of crashing if you drive 5 times as much?
comprehensive vs third party etc, fully comp is cheaper than third party? pay for 2 cars in an accident and it works out less?
so taking account of insurance companys mental "statistics", il accept the above. but this is where my brain is racking for ideas.
does you car have any security features?: its cheaper if i DONT!!!, if i say it has an immobiliser it jumped £86, HOW!!? surely an immobiliser makes it harder to steal, it should take the price down, if it has an immobiliser and tracker, it jumps up £300!!!
car insurance is absolutely MENTAL!!.
It certainly seems that way!
I've used the same insurer (not comparison site) and done 3 quotes (this is for motorbike not car) and each time use exactly the same details and I've had the cheapest (I'm going to go with this one), one that is 130% the quote from the cheapest company and one that is 200% the cheapest quote. From the same company!
Rather surprising!
I've used the same insurer (not comparison site) and done 3 quotes (this is for motorbike not car) and each time use exactly the same details and I've had the cheapest (I'm going to go with this one), one that is 130% the quote from the cheapest company and one that is 200% the cheapest quote. From the same company!
Rather surprising!
just had another gem.
i put the current market value at £2500, which honestly is a bit below, considering the market average is about £3500, so i put it up to £3500 and it dropped £25 so i raised it further, all the way up to £4950, and it dropped £75
this is just getting silly, im telling them my car is worth more and theyre saving me money? its easier to steal, save money, im going to drive 5 times as much as i was going to, save money,
i put the current market value at £2500, which honestly is a bit below, considering the market average is about £3500, so i put it up to £3500 and it dropped £25 so i raised it further, all the way up to £4950, and it dropped £75
this is just getting silly, im telling them my car is worth more and theyre saving me money? its easier to steal, save money, im going to drive 5 times as much as i was going to, save money,
paulwoof said:
does you car have any security features?: its cheaper if i DONT!!!, if i say it has an immobiliser it jumped £86, HOW!!? surely an immobiliser makes it harder to steal, it should take the price down, if it has an immobiliser and tracker, it jumps up £300!!!
For the insurance company I work for there is no discount to having a Thatcham approved alarm and immobiliser. Our system does know if the vehicle has a factory fitted and insurance approved immobiliser. Yet if it doesn't recognise that and you then tell me it has got one it will increase the cost of the premium.Garages: You're quite likely to ding the car parking it in your garage, cost increase is for risk of damage you cause not necessarily theft of damage by others.
paulwoof said:
just had another gem.
i put the current market value at £2500, which honestly is a bit below, considering the market average is about £3500, so i put it up to £3500 and it dropped £25 so i raised it further, all the way up to £4950, and it dropped £75
this is just getting silly, im telling them my car is worth more and theyre saving me money? its easier to steal, save money, im going to drive 5 times as much as i was going to, save money,
Keep going! Tell them you have a Veyron, they won't charge you at all, free insurance! i put the current market value at £2500, which honestly is a bit below, considering the market average is about £3500, so i put it up to £3500 and it dropped £25 so i raised it further, all the way up to £4950, and it dropped £75
this is just getting silly, im telling them my car is worth more and theyre saving me money? its easier to steal, save money, im going to drive 5 times as much as i was going to, save money,
Had a weird insurance quote this week for my new vehicle. Got an online quote of £225, but couldnt declare the various medical conditions I have.
Phoned up expecting the premium to go up, but having declared I am diabetic and epileptic, the premium went down to £186..... go figure....
Mike
Phoned up expecting the premium to go up, but having declared I am diabetic and epileptic, the premium went down to £186..... go figure....
Mike
Disco You said:
q: Is car insurance numbers out of a hat?
a: No, they are based on statistics.
No it isn'ta: No, they are based on statistics.
It's based n many factors, not least the probability of a sale.
For example, some insurers will quote at a loss for a certain demographic if they know that they're highly likely to take legal protection and NCB protection or perhapse pay the thing off over 12 months at 30% APR
On sister's ford ka, I handled the insurance. shes 21
having an immobiliser added 100 pound to the insurance quote. LMAO. Couldn't really take that off cos the car does have an immobiliser.
Having the car parked on the street as opposed to the drive reduced 200 pounds.
Added my dad as a second driver reduced a further 250 pounds.
v.access of £350 reduced a further 200 pounds.
Took the initial quote of £2200 all the way down to 1450 with some haggling on the phone. Best I could do.
having an immobiliser added 100 pound to the insurance quote. LMAO. Couldn't really take that off cos the car does have an immobiliser.
Having the car parked on the street as opposed to the drive reduced 200 pounds.
Added my dad as a second driver reduced a further 250 pounds.
v.access of £350 reduced a further 200 pounds.
Took the initial quote of £2200 all the way down to 1450 with some haggling on the phone. Best I could do.
Edited by capitalist on Wednesday 25th April 19:43
To insure both the other half and I it cost over £800 for a 14 year old BMW E46 318
Both of us each have 8 years NCB.
Just changed cars a few weeks back and it cost lesss than £400 to insure a much newer petrol 6 Series. I couldnt work it out and asked the insurer. Both of us are under 30 years old and the insurer said that not many under 30 year olds own a 6 series and therefore according to statistics very few claims have been made for our demographic hence why its so low. Adding my father as a named driver actually was increasing our premium.
So cheaper insurance on a much more expensive and powerful car coupled with better MPG than my E46 318 has made me a very happy person.
(the poor MPG on my E46 might be down to the car being quite shagged)
Both of us each have 8 years NCB.
Just changed cars a few weeks back and it cost lesss than £400 to insure a much newer petrol 6 Series. I couldnt work it out and asked the insurer. Both of us are under 30 years old and the insurer said that not many under 30 year olds own a 6 series and therefore according to statistics very few claims have been made for our demographic hence why its so low. Adding my father as a named driver actually was increasing our premium.
So cheaper insurance on a much more expensive and powerful car coupled with better MPG than my E46 318 has made me a very happy person.
(the poor MPG on my E46 might be down to the car being quite shagged)
I was doing my insurance recently.
I was on the phone to a well known company, the GF was doing the same thing online to compare.
The phone chap quoted me £600.
The internet £450.
I know internets give discounts, but really that much.
A quick check of details and it turned out the phone chap had entered IT consultant as the job and online it was Business Consultant.
£150 difference for a change of job.
As it happens, my job is neither of those but somewhere in the middle.
So I chose the cheaper one on their system.
It’s worth playing online with some of the different options to see what happens.
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