Insurance time....stupid renewal quote - how to lower it?

[kiethton]

Well its insurance time again......

Currently my car forms part of a multi-car policy, sourced from a highly ranked member of the Navy, and the renewal has come through at £2,700, just for me!!!

This is 3x the price of last year on a car worth less than 10% of the previous one with half the horsepower and an extra years NCB.

At the start of the current term the car was a E92 335i M-sport 07 plate and worth c.£16k, and insurance was c.£900 which I thought was reasonable. I sold the BMW in August and added the replacement to get the extra year of NCB and even received a refund of £15!

Now the renewal has come in and its substantially more expensive than it should be. I was expecting it to be about £400 (I had an Astra SRi sporthatch at 20 for £450)...even posing as a new customer doesn't cause the premium to come down....

Only slight issue is I have been involved in 2 non-fault accidents this year which seem to represent a significant increase in value through no fault of my own....removing these lowered it by £1,200 yet I still begrudge paying £1,500....

So please PH help me find a cheaper quote because at £2,700 the car may have to go full stop....


Stats:

Age - 23
Location - Cat C post code (BR6)
Car - 1987 Porsche 924s
Occupation - Banker
NCB - 3 years
Points - 3 (78 on the motorway)
Accidents - None barring the 2 above non fault
Miles - c.5-6k per annum + Le Mans
Additional drivers - Both parents added
Passed my test a week after my 17th and have done my pass plus so 6 years driving

• Classic insurers tried to date have been quoting about £1,700 via classic insurance comparison sites and confused/compare etal are also around this figure on a standalone policy....

[Nigel Worc's]

Just shop around, move, or change your car, are about all the options you have really.

UK insurance does seem to be a scam.

[Some Gump]

I just had a daft quote from admeral. Used the meerkat site, ot a quote for 1 car, which was competitive.
Rand admerql with renewal number and meerkat number, told them i did ot want to renew the multi, but would dothe single policy. 20 mins later, i had a new muli policy sitting 200 notes cheaper than the cheapest 2 single car policies on confused.com.
Might be the same for you - i think they out a high quote to catch lazy people.

Ps - theses a slght chance i get a meerkat toy, too. Bonus!

[aw51 121565]

Try as many classic insurers directly by telephone as you can - comparison sites are high comedy value only for cars like yours I would say...

I use Lancaster for the MG (see below for details); others off the top of my head are Peter Best, Peter James, Footman James, Richard Hoskins, Adrian Flux and there are many more...

Back in the early 90s I used to spend a couple of days on the phone each year looking for insurance for a Mini Mayfair - I was unwaged then, so had the time. But it was often the 20th or 30th call that got the best deal this side of devoting my life to finding good value insurance .

Plus if you're on the phone you can explain your peculiar circumstances whereas the comparison sites are "one size fits all" and strangely expensive by comparison... I'm paying £150 p.a. for the MG (3,000 miles p.a., fully comp with agreed value and business cover); the meerkats start at £3000 for a middle aged NHS receptionist/administrator cum trainee teacher [they are rated the same - my ongoing career saga is another story!] in a left hand drive MG Maestro 1600 in a high risk postcode (Bolton) without the side orders of business cover etc and with massive excesses (my current excesses are £100 own damage plus £60 replacement glass and, errm, that's it for excesses via Lancaster Insurance) .

Your two 'non-fault accidents' won't help, but you should get the extra insurance premium back once they are sorted .

[AJordan]

BR6, just around the corner from me then!

I have been told that this area isn't a low risk as you'd think, for reasons best known to insurance companies

(A quick search on the web shows up my manor as being above medium risk)

[mzaalam]

Some Gump said:

I just had a daft quote from admeral. Used the meerkat site, ot a quote for 1 car, which was competitive.
Rand admerql with renewal number and meerkat number, told them i did ot want to renew the multi, but would dothe single policy. 20 mins later, i had a new muli policy sitting 200 notes cheaper than the cheapest 2 single car policies on confused.com.
Might be the same for you - i think they out a high quote to catch lazy people.

Ps - theses a slght chance i get a meerkat toy, too. Bonus!

Yeah exactly. Last year was the first time we were doing a multi car renewal and the guy spent about 40 mins on the phone going through each car and coming out with reductions of at least £75 on each. Basically they don't automatically adjust for lower value of car etc so worth going through the details on he phone and quoting cheaper individual quotes either through them or others...

Also non fault claims are evil. Not mich help now but best to settle in cash and keep off the books if possible...

[Jimmy Two Times]

I'm insured with the red telephone insurer for my V70 and 350Z. The 350z was up for renewal in May for £900 odd, the previous year being £600 odd. Due to an ongoing claim on my V70 I decided, despite feeling that I was being raped for £900, to stick with them to keep things simple at least until the claim was sorted.

Long story short,the direct debit for the premium bounced. I phoned them hoping that I could pay the premium with a debit card but was told the policy had lapsed and I'd have to renew. I was put through to their quotes dept. and the new quote was ...£435. Less than half the original premium with the same insurer!

[james280779]

talk to hagerty, I was paying 35 quid a year for my 924

Up until June I had a Lotus Esprit turbo and a 911 carrera on a multicar policy for the pricely sum of 160 quid. The 911 had an agreed value of 20k and the Lotus 15k.

[winshent]

AJordan said:

BR6, just around the corner from me then!

And me...

Get on the phone. Elephant quoted me around 20% cheaper over the phone as opposed to using their site.

[kiethton]

Thanks for the help all,

Called Classicline who will do it for c.£550 if I join the porsche club GB...also just sent a PM to Ash from flux to see what he can do.

Hagerty couldn't do anything for me unfortunatly, due to it being the only car registered in my name (dispite me being a named driver on a couple of others).

Thanks,

Kieran

[Ozzie Osmond]

kiethton said:

I have been involved in 2 non-fault accidents this year ....removing these lowered it by £1,200 yet I still begrudge paying £1,500

How do you "un-have" an accident?

Make sure your quotes are based on proper full disclosures. Your insurer will want a full understanding of a Porsche owner who's had a couple of accidents in the last 12 months.

[TwigtheWonderkid]

AJordan said:

BR6, just around the corner from me then!

I have been told that this area isn't a low risk as you'd think, for reasons best known to insurance companies

Yeah, probably something irrelevant like the number of claims made by people living in that area.

[kiethton]

Ozzie Osmond said:

kiethton said:

I have been involved in 2 non-fault accidents this year ....removing these lowered it by £1,200 yet I still begrudge paying £1,500

How do you "un-have" an accident?

Make sure your quotes are based on proper full disclosures. Your insurer will want a full understanding of a Porsche owner who's had a couple of accidents in the last 12 months.

This wasn't my intention, it was merely out of fraustration to see how much cheaper it would have been if I hadn't been the subject of some bad luck....

[V6Alfisti]

Also try with a different house number, slightly different age (i.e 1 day out).

Their systems "catch" existing customers and either stop you accessing or give you the full fat price.

Also using the likes of confused.com can actually reduce the quote (owned by those friendly sailors) and they often have preferential rates to come out on top.

[kiethton]

Well the insurance for the majority of the cars was done yesterday.

I called up the sailor and they were unable to match any quotes obtained so the three 'normal' cars are on separate policies

Car 1 - BMW 318d (2008) - 2 drivers (mid 50's) 8k miles a year with business cover, 7 years NCB, Policy holder with 1 theft recovered in last year:

Renewal - £760
New quote - £260

Car 2 - Ford Fiesta 1.4 (2004) - 2 drivers as above -5k miles a year with commuting, 3 years NCB:

Renewal - £490
New quote - £260

Car 3 - stroen C4 1.6 diesel (2006) - 20 year old main driver (1 write off single vehicle crash in last year) plus 2 additional as above, 0 NCB

Renewal - £2600
New quote - £990


Now all that is left is my porsche and the only company below £1800 is classicline at £580 including OC membership...I think this is the one to go for providing my sealed bid doesn't win me the first house i'm buying, if so the car will be SORNED to the spring and I'll be relying on an oyster card....

[ging84]

if you are 23 with points and 2 claims don't expect cheap insurance on anything let alone a Porsche, or a classic car