Aston Martin Insurance

[Jon39]

Insurance used to be a profession, with underwriters considering risk, then calculated a sensible premium.

Many years ago, a new system was introduced. How much can we increase the renewal premium, before the punter realises they are being taken for a mug.

This is an entertainment topic for a wet Sunday.

Here are 10 years of premium figures, showing how this new insurance system operates and which would equally apply to Aston Martins, but the easiest data available is for our garden rubbish car.


2012 Zurich renewal ........ £224-80 ..... (not renewed)
2012 AA ............................ £118-16 ....... (incl. free breakdown)
2013 .................................. £122-55
2014 .................................. £147-92
2015 .................................. £115-67
2016 .................................. £131-24
2017 AA renewal .............. £187-46 ...... (not renewed)
2017 L&G .......................... £112-34
2018 .................................. £123-74
2019 .................................. £120-99
2020 .................................. £120-99 ...... (L&G transferred their motor insurance to Budget)
2021 ................................... £119-99
2022 Budget renewal........ £148-80 ...... (not renewed)
2022 Markerstudy ............ £ 98-59 ....... (also includes £20 Halfords voucher)


So there we are £ 224-80 in 2012
........................... £ 78-59 now.

How is that for negative inflation? Makes a change.
Don't let the ~~~~~~~ swindle you.
Can you beat that sequence ?

Happy Sunday.

[bogie]

Nice to see ....and to be fair our insurance has come down vastly over the last 10 years going from early 40s to early 50s.

Used to pay over £1000 for the Vantage and now its sub £400. I now insure 3 motorbikes and 3 cars for less than £1k total

There are some advantages to getting older

Edited by bogie on Sunday 13th March 13:21

[funboxster]

Great post Jon and I echo all that you say.
Loyalty to a company has usually counted for nothing for a while now.
I was with NFU for my DB11 for a few years with competitive rates to others. Last year's renewal was £600 ish.
Moved to Privilege for same cover at £400. I always shop around each year.

[Graze01]

wish our car insurance was that cheap

$3000 per annum for the V12VS

with a 60% no claim bonus, limited drivers (all over 50)

Graze

[alscar]

Interesting comparison over those years Jon but also have to slightly adjust for the physical damage cost should your garden rubbish car have needed repair or replacement - the rate as such given the value would have substantially reduced over that period.
Obviously on agreed value policy or a car that has retained much more value would be interesting to look at should you be bored ?

[Jon39]

alscar said:

Interesting comparison over those years Jon but also have to slightly adjust for the physical damage cost should your garden rubbish car have needed repair or replacement - the rate as such given the value would have substantially reduced over that period.
Obviously on agreed value policy or a car that has retained much more value would be interesting to look at should you be bored ?

No, the value has not substantially reduced during the comparison period. It was 17 years old when the comparison began !
No depreciation since then, because it has been worth nothing throughout.
As you suggest, the insurers would not have to pay much to me, their very minimal exposure is TP.

The car is a large rubbish capacity hatchback in amazing condition, might be the best all original one left, but it is not a model of interest to collectors, so although handy to me, it has no monetary value. Funny how people now ask about it, often with the opening comment, "I remember having one of those". A popular repmobile in the 1990s. -

[JonnyCJ]

bogie said:

Nice to see ....and to be fair our insurance has come down vastly over the last 10 years going from early 40s to early 50s.

Used to pay over £1000 for the Vantage and now its sub £400. I now insure 3 motorbikes and 3 cars for less than £1k total

There are some advantages to getting older

Edited by bogie on Sunday 13th March 13:21

Who do you use Bogie ? I only have one bike (70’s MV), the V8V and a 65 Split, so looking to get one policy for all.

[bogie]

JonnyCJ said:

bogie said:

Nice to see ....and to be fair our insurance has come down vastly over the last 10 years going from early 40s to early 50s.

Used to pay over £1000 for the Vantage and now its sub £400. I now insure 3 motorbikes and 3 cars for less than £1k total

There are some advantages to getting older

Edited by bogie on Sunday 13th March 13:21

Who do you use Bogie ? I only have one bike (70’s MV), the V8V and a 65 Split, so looking to get one policy for all.

I used to have a family fleet policy (up to 6 cars + 6 bikes + multiple drivers) for about 8 years, underwritten by Markerstudy, sold by broker, but it became non competitive and cheaper to shop around. Now have multiple policies again. bikesure for 3 bikes and Performance Direct for Vantage, Hastings direct for Range Rover sport and Volvo. If your vehicles are standard Performance Direct might do cars and bikes together. All my bikes are modified so needed more specialist policy that accepted all the mods.

[JonnyCJ]

Thanks - might try Hagerty when they come up for renewal. They seem to be pretty switched on when it comes to classics.