where do they get their figures from???
Discussion
nope, not a post about laaadies, but on the rather more boring subject of car insurance...
my renewal date is up in april - luckily after my 19th birthday - so i'm starting to scout around for quotes
currently the car isn't insured in my name, but i want it fully comp in my name from the renewal date, my car is a 1978 Vauxhall Cavalier 2.0GL
so i get some internet quotes,
tesco.com (who i'm currently with) quoted just under £1700 which has gone down about £50 from what they quoted me in my name last year...
liverpool victoria quoted iro £600-750 (which is closer to what i was hopeing) - but i will have to phone them to confirm this...
and endsleigh, who i was led to believe were good for young drivers, quoted... wait for it... £7401
THATS OVER 7 GRAND FOR FCUKS SAKE!!! 7 grand, thats more than i earn in a year, i'm 18 FFS!!!
why didn't they just say they couldn't quote me!!!
so, obviously i'm going to investigate the liverpool victoria quote further as its the only reasonable quote i've ever recieved...
footman james said they wouldn't even cover me until i'm 25...
anyone know of some decent insurers other than the above or sainsbury's (10% staff discount!!!
)???
cheers peeps!!!
my renewal date is up in april - luckily after my 19th birthday - so i'm starting to scout around for quotes
currently the car isn't insured in my name, but i want it fully comp in my name from the renewal date, my car is a 1978 Vauxhall Cavalier 2.0GL
so i get some internet quotes,
tesco.com (who i'm currently with) quoted just under £1700 which has gone down about £50 from what they quoted me in my name last year...
liverpool victoria quoted iro £600-750 (which is closer to what i was hopeing) - but i will have to phone them to confirm this...
and endsleigh, who i was led to believe were good for young drivers, quoted... wait for it... £7401
THATS OVER 7 GRAND FOR FCUKS SAKE!!! 7 grand, thats more than i earn in a year, i'm 18 FFS!!!
why didn't they just say they couldn't quote me!!!
so, obviously i'm going to investigate the liverpool victoria quote further as its the only reasonable quote i've ever recieved...
footman james said they wouldn't even cover me until i'm 25...
anyone know of some decent insurers other than the above or sainsbury's (10% staff discount!!!
)??? cheers peeps!!!
Well.. I'd imagine that... Hmm.. first of all there are the actuaries who calculate risk. That's the basis of it all.
Then there's the fact that insurance companies like to target a specific demographic group, such as women or older drivers. Some insureres are also quite generous in the rates they give to renewing customers relative to an identical new policy.
Basically, they subsidise their preferred market segment by loading the premiums of segments they're not interested in, or deem above average risk.
Endsleigh is just a broker who will have a panel of insurers who they can canvass for prices. Not all brokers have access to the same products or insurers.
But then what the hell do I know - I'm making all this up as I go along - it just seems like common sense to me.
Then there's the fact that insurance companies like to target a specific demographic group, such as women or older drivers. Some insureres are also quite generous in the rates they give to renewing customers relative to an identical new policy.
Basically, they subsidise their preferred market segment by loading the premiums of segments they're not interested in, or deem above average risk.
Endsleigh is just a broker who will have a panel of insurers who they can canvass for prices. Not all brokers have access to the same products or insurers.
But then what the hell do I know - I'm making all this up as I go along - it just seems like common sense to me.
CarZee said:
Then there's the fact that insurance companies like to target a specific demographic group, such as women or older drivers. Some insureres are also quite generous in the rates they give to renewing customers relative to an identical new policy.
hmm, the only reason i tried endsleigh was because autocar said they were good for young drives, though i thought tesco.com would give me a better deal as i already have insurance with them
and the only reason i tried liverpool victoria was because their TV ads stick in my mind (hmm beer...
doughnuts... 
) and they turned out to quote a very good price, though there's probably a catch like my cars too old... so well done that man!*
*that man being the man who created those ads...
I've been with Admiral for 5 years or so now - they've always been worth sticking with. Don't know what they're like for under 25s these days though..
Edit: Have you tried to get classic cover on it? There must be some merit in that idea... You'd only get a 5000 mile policy, but you'd pay washers for it.
>> Edited by CarZee (moderator) on Saturday 8th March 22:12
Edit: Have you tried to get classic cover on it? There must be some merit in that idea... You'd only get a 5000 mile policy, but you'd pay washers for it.
>> Edited by CarZee (moderator) on Saturday 8th March 22:12
Podie said: Try Bell Direct...
nope. no good quote came in at iro £2400
CarZee, have tried to get classic car insurance on it from footman james and a couple of others (can't remember now last year...) but they wouldn't touch me, or give me a ridiculous quote...
unfortuantly i use it every day, so my mileage is nearer 11-12000 a year...
also, many people don't consider it a classic!!! there are MG Owner's Club members who consider their horrible rubber bumper'd MGB's a classic, but not my '78 Cavalier...
probably 'cos its a Vauxhall!!!
if there's anyone out there who doesn't think my cars a classic i'll put it this way, it has no foglights, no rear seatbelts (despite being a family car!!) and is beige!!!
looks like liverpool victoria will be getting my custom unless anyone else can make me a blinding offer... no? oh well cheers anyway for the help lads!!!
not all companies want your business, hence stupid quotes.
You are getting high quotes due to the engine size of the car. Have you considered getting a different car/smaller engine?
My sister, 27yrs 0 NCD quoted £350 TPFT on a 1.0L micra (costing £375) through Diamond.co.uk ('created for Women', so it says)
However my housemate 23yrs fem, 0 NCD, £890 Fully Comp on a 1.4L Tigra, via Elephant.co.uk.
Its all a bit of a lottery out there it seems.
You are getting high quotes due to the engine size of the car. Have you considered getting a different car/smaller engine?
My sister, 27yrs 0 NCD quoted £350 TPFT on a 1.0L micra (costing £375) through Diamond.co.uk ('created for Women', so it says)
However my housemate 23yrs fem, 0 NCD, £890 Fully Comp on a 1.4L Tigra, via Elephant.co.uk.
Its all a bit of a lottery out there it seems.
dimmadan said:
You are getting high quotes due to the engine size of the car. Have you considered getting a different car/smaller engine?
yeah, but i really like my car, plus it really settles arguments...
"what toys does your car have?"
"none"
"oh, well, my 1.4 has e/windows, air con etc..."
"yeah well, mine is a 2.0..."
"BASTARD!!!"
i'm obviously gonna get quite expensive quotes for my car as i want the bigger engine, but i was really just wondering why liverpool victoria will cover me fully comp. for £700ish and tesco/direct line (et all) want iro £1500-2000???
obviously endsleigh don't want my custom but felt they had to quote me so gave some stupid figure i'd never even think about paying...
I went with Direct Line. They gave full personal and business use on my Griff for £800. Based on a yearly mileage of 12,000.
I thought that was very competitive as my previous policy for a Saab 9-3 Turbo was £650. Oh, I'm 37 live South East, wash and shave regularly. lol
Churchill wanted £1800 for the Griff, Tesco were also way off the mark. So much so I thought they were quoting me for a frigging P-38 and not a land based mode of transport.
Shop around, a few boring hours on the phone can help here.
I thought that was very competitive as my previous policy for a Saab 9-3 Turbo was £650. Oh, I'm 37 live South East, wash and shave regularly. lol
Churchill wanted £1800 for the Griff, Tesco were also way off the mark. So much so I thought they were quoting me for a frigging P-38 and not a land based mode of transport.
Shop around, a few boring hours on the phone can help here.
i'm obviously gonna get quite expensive quotes for my car as i want the bigger engine, but i was really just wondering why liverpool victoria will cover me fully comp. for £700ish and tesco/direct line (et all) want iro £1500-2000???
I wouldn't get your hopes up, sounds more like a cockup to me.
BCA said: Dont think LV insure under 21's, sounds like a mistake.
no they do, my mate got his 1.0 polo with them for £800 a year full comp. can't remember if this policy was started when he was 17 or 18 though, i think 18...
this would make the figures they've given me seem about right as i have 18 months driving experience over my mate, but obviously a 'higher risk car' - though it is older... neiter of us have any NCB... thats what i want to start building up!!!
edited to add: that their website states that you have to be over 17 (obviously) to get insurance, and they've given my a couple of quotes so i'm sure they do!!!
>> Edited by littlegearl on Sunday 9th March 20:07
fair enough, sounds good, the scoobynet people sware by them, very mod friendly IIRC.
I dont know how im going to get a NCD, kinda given up on it, will create dads second NCD instead for a bit. That way I can have something a little fun
(decided im not old enough to drive a polo) just waiting for the right car to come along now...
I dont know how im going to get a NCD, kinda given up on it, will create dads second NCD instead for a bit. That way I can have something a little fun
(decided im not old enough to drive a polo) just waiting for the right car to come along now...
BCA said: fair enough, sounds good, the scoobynet people sware by them, very mod friendly IIRC.
I dont know how im going to get a NCD, kinda given up on it, will create dads second NCD instead for a bit. That way I can have something a little fun
my mate is lucky, he's prepared to drive a '86 polo 1.0 to build up NCB, but didn't start until he was 18...
i'm not gonna get insurance in my name before i'm 19, 'cos i simply cannot afford it!!!
alan, yeah i thought it was a good website, and they're obvioulsy cheap
plus, i liked the fact that they'll only give you an "in the region of" quote, so you can confirm by phone, so no one is hiding information from each other..
CarZee said: Well.. I'd imagine that... Hmm.. first of all there are the actuaries who calculate risk. That's the basis of it all.
Actuaries were pretty late into general insurance ("things" as opposed to "life" assurance). General was always priced on (and still is to a certain extent) "what are our competitors charging and did we make any money last year". Its one of the reason the premiums are quite cyclic over a number of years.
Cheers
Maf
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