Insurance renewal...
Discussion
Just got my insurance renewal for the TVR... and it's gone UP by £70...!
Any ideas why?
Anothe ryears NCB on the first car... no claims, no points, no convictions... NOTHING. Circumstances have not changed... yet for the same mileage, same car, same garage etc etc... and it GOES UP!
Not amused...
Any ideas why?
Anothe ryears NCB on the first car... no claims, no points, no convictions... NOTHING. Circumstances have not changed... yet for the same mileage, same car, same garage etc etc... and it GOES UP!
Not amused...
The insurance industry has taken a pasting generally over the last few years. A number of claims issues such as asbestos etc ... mean that underwriters in general are putting fees up across the board to keep themselves solvent.
Sorry if I sound like an apologist for the insurance industry - to put the records straight -
I think they're parasitic scum with no more right to live on god's earth than a common or garden slug. But - hey that's just me !
WG
Sorry if I sound like an apologist for the insurance industry - to put the records straight -
I think they're parasitic scum with no more right to live on god's earth than a common or garden slug. But - hey that's just me ! WG
WonkyGibbon said:
The insurance industry has taken a pasting generally over the last few years. A number of claims issues such as asbestos etc ... mean that underwriters in general are putting fees up across the board to keep themselves solvent.
Sorry if I sound like an apologist for the insurance industry - to put the records straight -
WG
WG - my old man deals with the Lloyds of London insurance stuff... believe me, it's not as bad as you think.
Rates for Tuscans have gone up a lot recently too which is apparently due to the number of high value claims recently.
Maybe the same is true for the S, or they may lump all TVRs in the same boat?
I don't think I've ever had a renewal that wasn't more than the previous year though, so you're not alone!
Maybe the same is true for the S, or they may lump all TVRs in the same boat?
I don't think I've ever had a renewal that wasn't more than the previous year though, so you're not alone!
It appears to be the norm for insurance companys to increase their premiums even if you have a clean sheet, I thought it was usually about 5% - £70 does seems a bit steep.
I would suggest you shop around before your premium is due (not forgetting to cancel your direct debit if that's how you pay)
I would suggest you shop around before your premium is due (not forgetting to cancel your direct debit if that's how you pay)
Premiums for Tuscans have risen due to the number of Single Vehicle Accidents; generally from drivers who have come from other performance marques where the cars are fitted with driver aids, from what I have been told.
Generally premiums are levelling out across the motor industry, and although I did budget on a 10% increase, over 20% is a tad annoying.
Perhaps they quoted low to get my business, and now they're trying to reclaim some money?
As you said - time to shop around. Suggestions?
Generally premiums are levelling out across the motor industry, and although I did budget on a 10% increase, over 20% is a tad annoying.
Perhaps they quoted low to get my business, and now they're trying to reclaim some money?
As you said - time to shop around. Suggestions?
Podie,
At your age you should really be seeing your renewal drop, as your experience is still less than ten years and you're moving further away from being in the category of being a dangerous young bloke all the time.
(I may have guessed your age wrong!
However, saying that they assume their customers are lazy and most people will renew without thinking if the policy is the right price (my mother-in-law has been with the same insurer for over 10 years), they just hike it up a bit as you no qualify for the new customer incentive, but they will probably drop the the price if pushed.
However, I'd give ClassicLine a call now you have a years experience, I saved over £300 on my renewal with them
TVRCC Track Day and European breakdown cover with that too, all for £450 in my case 
At your age you should really be seeing your renewal drop, as your experience is still less than ten years and you're moving further away from being in the category of being a dangerous young bloke all the time.
(I may have guessed your age wrong!
However, saying that they assume their customers are lazy and most people will renew without thinking if the policy is the right price (my mother-in-law has been with the same insurer for over 10 years), they just hike it up a bit as you no qualify for the new customer incentive, but they will probably drop the the price if pushed.
However, I'd give ClassicLine a call now you have a years experience, I saved over £300 on my renewal with them
TVRCC Track Day and European breakdown cover with that too, all for £450 in my case If you're not with Classicline, then give em a call - they were the cheapest for Mel by a long shot!
I found Tesco to be cheapest for the Tuscan, but went with Sunninghill as they included free track day cover, and weren't much more than Tesco.
You might be right about the cheap introductory rates though - I imagine that a lot of people just agree to renewals without shopping around, so I think they probably just try this on with everyone. You'll probably find that they will knock the quote down to match a better quote elsewhere.
>> Edited by ehasler on Friday 7th November 14:29
I found Tesco to be cheapest for the Tuscan, but went with Sunninghill as they included free track day cover, and weren't much more than Tesco.
You might be right about the cheap introductory rates though - I imagine that a lot of people just agree to renewals without shopping around, so I think they probably just try this on with everyone. You'll probably find that they will knock the quote down to match a better quote elsewhere.
>> Edited by ehasler on Friday 7th November 14:29
Podie said:Nothing to do with the fact quite a lot of Tuscan owners consider their car as a fashion accesory rather than a British Sports car at all then
Premiums for Tuscans have risen due to the number of Single Vehicle Accidents; generally from drivers who have come from other performance marques where the cars are fitted with driver aids, from what I have been told.
Rozza!!! said:
Classicline were nearly double what I eventually got my insurance for. No insurance company seems to be consistantly low in price for everybody. I sometimes think they just pluck a figure out of the air for each enquiry.
Roy.
I think it's probably more down to them having a certain profile of customer that they want to underwrite. If you don't match it, then they give a high rate to persuade you to go elsewhere.
Podie said:So you're looking just above £420ish then (brain hurting after doing the maths!)
... and it's gone UP by £70...!
..Generally premiums are levelling out across the motor industry, and although I did budget on a 10% increase, over 20% is a tad annoying...?
Perhaps that's a bottom-level cut-off for some criteria, as I can't get any of my three cars below £400, close in one case, but still no
Or perhaps the fact that interest rates are on the up again is making them a little more conservative in how much they'll reduce their profit margins by...
Just drink water tomorrow night and you'll soon have saved £70
ehasler said:
Classicline were nearly double what I eventually got my insurance for. No insurance company seems to be consistantly low in price for everybody. I sometimes think they just pluck a figure out of the air for each enquiry.
Roy.
I think it's probably more down to them having a certain profile of customer that they want to underwrite. If you don't match it, then they give a high rate to persuade you to go elsewhere.
That's pretty typical of the whole insurance industry.
Podie said:
The insurance industry has taken a pasting generally over the last few years. A number of claims issues such as asbestos etc ... mean that underwriters in general are putting fees up across the board to keep themselves solvent.
Sorry if I sound like an apologist for the insurance industry - to put the records straight -
WG
WG - my old man deals with the Lloyds of London insurance stuff... believe me, it's not as bad as you think.
Ah well - if you reckon.
You could play the "come come don't be silly card" - I did this with my last car and substantially reduced the increment (was put on hold while the girl filed ner nails ... sorry .. spoke to her supervisor).
But the best way probably is to find a better quote - and then come back to them - they'll try to beat it - and if they don't - you move.
WG
PS: Love the pic in your profile Podie - v good lighting.
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