Why is my second car insurance so high?
Discussion
Not complaining. I reaslise that its a highly competitive industry so prices are what they are but....
My main car is worth 10 times my second car, does 10 times the millage, is covered for commuting and has very similar performance to my second car. Yet even if I set it to TPO it only costs twice as much to ensure the every day car fully comp as the second car. Some of the difference is that they don't fully mirror the (full) NCB but still, seems surprising.
The rest is the same. Obviously my driving history is the same. Both cars in locked garage, at home in very low crime area. I'm just over 50. Responsible, low risk job. Home owner, live with family. Wife as named driver, UK resident all life, 33 years driving. No points. etc.
Cars VW Id.3 (20k miles per year) and e46 330i convertible (1k miles per year).
Wife's second car is an EP3 type R. Surely higher risk that the BMW, but quite a lot less to ensure.
Thanks
My main car is worth 10 times my second car, does 10 times the millage, is covered for commuting and has very similar performance to my second car. Yet even if I set it to TPO it only costs twice as much to ensure the every day car fully comp as the second car. Some of the difference is that they don't fully mirror the (full) NCB but still, seems surprising.
The rest is the same. Obviously my driving history is the same. Both cars in locked garage, at home in very low crime area. I'm just over 50. Responsible, low risk job. Home owner, live with family. Wife as named driver, UK resident all life, 33 years driving. No points. etc.
Cars VW Id.3 (20k miles per year) and e46 330i convertible (1k miles per year).
Wife's second car is an EP3 type R. Surely higher risk that the BMW, but quite a lot less to ensure.
Thanks
I don't know if it is still possible but when I first got a 2nd car A-Plan Insurance (now Howden) found me a policy with an insurer who would mirror my NCD, so now my 2nd car has full NCD too.
I'm 60+ living in Surrey and I paid less than £300 for my 330i last April.
But Twig's suggestions sound good. For some reason insurers really don't like very low mileages. I always estimate 5,000 for mine and do most of them as it's my daily driver.
I'm 60+ living in Surrey and I paid less than £300 for my 330i last April.
But Twig's suggestions sound good. For some reason insurers really don't like very low mileages. I always estimate 5,000 for mine and do most of them as it's my daily driver.
I'm in a similar situation car wise, daily is a 2.0tsi superb and I have an Audi A4 3.2 convertible. The convertible is way cheaper to insure, 15 quid a month. I'd play around with what detail you put in, as suggested trying 4k miles a year, it starts going up again with less than that in my experience.
Thanks for all the replies.
I've tried specialists. It was Hagarty who gave the best quote. Interestingly, though, it's actually through Aviva on a normal policy.
I don't understand the classic thing re insurance for this car, unless it's not old enough. All the other criteria (low miles, garaged, second car etc are clearly "classic".
I've had various second / classic cars most of my life and insurance always been very reasonable.
I've tried specialists. It was Hagarty who gave the best quote. Interestingly, though, it's actually through Aviva on a normal policy.
I don't understand the classic thing re insurance for this car, unless it's not old enough. All the other criteria (low miles, garaged, second car etc are clearly "classic".
I've had various second / classic cars most of my life and insurance always been very reasonable.
I suspect that the low mileage is a factor.
Cars which sit around unused are a risk for theft, there’s going to be loads of claims when they catch fire because of perished fuel lines. Not using it means maintenance will be worse, on average. And the final point is that every time you drive it, you’re in a car which you simply are not used to driving.
Put those miles up to 8/10k and I bet it’ll go down.
Cars which sit around unused are a risk for theft, there’s going to be loads of claims when they catch fire because of perished fuel lines. Not using it means maintenance will be worse, on average. And the final point is that every time you drive it, you’re in a car which you simply are not used to driving.
Put those miles up to 8/10k and I bet it’ll go down.
Robmarriott said:
I suspect that the low mileage is a factor.
Cars which sit around unused are a risk for theft, there’s going to be loads of claims when they catch fire because of perished fuel lines. Not using it means maintenance will be worse, on average. And the final point is that every time you drive it, you’re in a car which you simply are not used to driving.
Put those miles up to 8/10k and I bet it’ll go down.
A few years ago I played around with declared mileage on quotes to see what impact it made. Cars which sit around unused are a risk for theft, there’s going to be loads of claims when they catch fire because of perished fuel lines. Not using it means maintenance will be worse, on average. And the final point is that every time you drive it, you’re in a car which you simply are not used to driving.
Put those miles up to 8/10k and I bet it’ll go down.
8k was the magic number. Lower or higher than that, the quotes increased.
MattsCar said:
Duke Caboom said:
Aren't algorithms fun! Increasing the milage 4 fold and going up to fully comp with commuting has resulted in a 40% drop. Will keep playing!
Better get driving then...Wonder if over declaring mileage is as naughty as under declaring...I would assume not .
Estimate mileage on a regular quote is a bit different to an actual limited mileage policy. & both seem very hard to prove to me anyway as quite often limited mileage policies don't specify the car does the limited mileage, just you/your policy.
So someone else could use their insurance to drive your car.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff