Baffled by insurance quotes.
Discussion
Im currently sat with my brother having a quick play about on confused.com,getting quotes for him before he goes car shopping. He's had his licence 2 years and 2 months,but not insured or been insured on a car since passing. We've just done a Renault Megane which came in at £2100 p/a fully comp,car worth £2000. We then did a 2001 E46 M3, car worth £6500 and the insurance came in at £1700 p/a fully comp... i cannot for the life of me fathom out why a cheap Renault Megane (Automatic) would be £400 p/a more to insure?
Can anyone shed any light?
Can anyone shed any light?
Ive never bought insurance online,but if the price said £1700,if he goes to the insurance providers site he can check through the details,which we did,then theres an option to pay the full amount now (£1700) so if he did have the M3 and got the the 'pay now stage,how would it go up? Would they let him pay then phone up and say sorry theres been a mistake etc?
I have 3 months left on my old Golf GTI policy but I am over 50 and on this particular policy near max NCB. It's no less a mystery despite the smaller prices.
Quotes to change the car to a car worth £3000 / circa 2003 as constants with same insurance company:
Fiesta 1.4 (Group 4) - additional £1.36
BMW 316 Ti 1.8 (Group ?) - additional £30-odd
Clio 182 (Group 16) - minus £6.
Quotes to change the car to a car worth £3000 / circa 2003 as constants with same insurance company:
Fiesta 1.4 (Group 4) - additional £1.36
BMW 316 Ti 1.8 (Group ?) - additional £30-odd
Clio 182 (Group 16) - minus £6.
The Crack Fox said:
There's something wrong, then, the M3 will be 10 x that of the Megane to insure for a young 'un. Remember online quotes mean nothing until you've spoken to some call-centre chimp who will give you the real price when you try to buy...
Not always. Statistical risk can play some blinders, my scooby was cheaper to insure with mods than my Focus st170 is without.A 107 is £28/month and an Aygo would be £19 with Admiral (these quotes were for me about 3 months ago). That is a huge difference for the same car.
As an aside, as I sat there passively, I received my renewal notification from my current insurers.
I saw the e-mail, and thought, '...whatever, let's roll on another year.'.
Then I looked closer. I called the number. I've basically been reduced...24%.
Reduced. Not a thing has changed.
I suppose the thing I take from that is that if a company wants your business enough...it will do as much. If it doesn't, shop around.
I saw the e-mail, and thought, '...whatever, let's roll on another year.'.
Then I looked closer. I called the number. I've basically been reduced...24%.
Reduced. Not a thing has changed.
I suppose the thing I take from that is that if a company wants your business enough...it will do as much. If it doesn't, shop around.
I've no idea how they work out some of their premiums.
For instance, my wife insured her 5 series but didn't know all of the options it had so agreed I'd call back so they could update the system (and premium).
The most unfathomable one was factory fit alarm and immobiliser. To add that to the policy cost an additional £12. I queried whether uninstalling the factory fit security equipment would lower my premium and they said it would. Work that out...
.
For instance, my wife insured her 5 series but didn't know all of the options it had so agreed I'd call back so they could update the system (and premium).
The most unfathomable one was factory fit alarm and immobiliser. To add that to the policy cost an additional £12. I queried whether uninstalling the factory fit security equipment would lower my premium and they said it would. Work that out...
.
yajeed said:
I've no idea how they work out some of their premiums.
For instance, my wife insured her 5 series but didn't know all of the options it had so agreed I'd call back so they could update the system (and premium).
The most unfathomable one was factory fit alarm and immobiliser. To add that to the policy cost an additional £12. I queried whether uninstalling the factory fit security equipment would lower my premium and they said it would. Work that out...
.
Statistics. 95% of all cars have the alarm ticked as the option, 5% of buyers live in a gated community in the middle of nowhere and crime happens 200 miles from them.For instance, my wife insured her 5 series but didn't know all of the options it had so agreed I'd call back so they could update the system (and premium).
The most unfathomable one was factory fit alarm and immobiliser. To add that to the policy cost an additional £12. I queried whether uninstalling the factory fit security equipment would lower my premium and they said it would. Work that out...
.
So they check the correlation between alarms and theft, and find that they are more likely to be stolen, so stupidly link Correlation to causation.
Like saying there is a directly link between shark attacks in any given week on the surfing beaches of austrailia, and the number of ice creams sold in that week. So if we ban Ice cream sales, we can prevent shark attacks.
insurance isnt just worked out on the horsepower etc of the car. It takes into account the security, nickability, type of people to own them, previous claim history etc etc
I find cars you expect to be well out of insurance range are actually under what you would pay for a basic ford/ vauxhall.
My last 6/7 cars have all been group 19/20 and none have been more than 350 quid a year to insure. Its worth doing some research.
I find cars you expect to be well out of insurance range are actually under what you would pay for a basic ford/ vauxhall.
My last 6/7 cars have all been group 19/20 and none have been more than 350 quid a year to insure. Its worth doing some research.
When a friend was looking to insure his son to drive a £600.00 Renault Clio, he was told that it's not that it's three grand to insure him, but it's who he might hit.
They also suggested that a newer Clio would be considerably cheaper to insure because the reasoning is, 'mummy and daddy have bought little Johnny a car and therefore he is more likely to drive sensibly'.
They also suggested that a newer Clio would be considerably cheaper to insure because the reasoning is, 'mummy and daddy have bought little Johnny a car and therefore he is more likely to drive sensibly'.
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