Odd insurance price change

[tight fart]

Here’s an odd one, I bought a non running convertible Mini Cooper S as a bit of a project, no mot. But now with 4 women in the family they decided we keep it as a spare / summer car.
So I thought I’d better insure it.
No ncd as they all insure their own cars.
Comparison site came back £217 f comp. Ins starting Saturday.
So I follow the link, check everything to pay and then think it may as well start today, that changes the quote to £255, I think it’s not going anywhere for a week or two so I change it back, but in error I put Sundays date, it then changed it to £210!

[Opapayer]

Why is weird? It’s well known that insurance is dearer the closer the payment date it is to the date you initiate it and vice versa. Your example demonstrates this perfectly.

[alscar]

Yup quite normal according to how their systems / algorithms / rating matrix works.
Pretty cheap too !

[mcflurry]

IIRC their algo has more claims from people who buy insurance at the last minute vs those who plan in advance.
MSE believe the price sweet spot is somewhere 2-3 weeks ahead of renewal..

[alscar]

mcflurry said:

IIRC their algo has more claims from people who buy insurance at the last minute vs those who plan in advance.
MSE believe the price sweet spot is somewhere 2-3 weeks ahead of renewal..

Indeed - it’s all driven from each Insurers own data plus a sprinkling of clever actuarial input.

[LuS1fer]

Damned nuisance when you're buying a car and trying to select a pick-up date.
You start off with one premium and it goes up with every day nearer so you try to delay it but the seller wants it picked up.

Just have to bite the bullet.

[Richard-D]

Odd one I had recently, increasing the voluntary excess actually increased the premium too . No idea why that would be, just another thing I'll have to play around with whenever I start a new policy.