Why is my insurance so high?

[La_Lucha]

Hi All I've recently bought a 2009 IS220d and I'm astonished with insurance prices.

I'm 33, live in a nice semi,2 kids co-habiting with a decent job and 6 years NCB.

 

Can anyone understand why my policy is £600+ across the board? 

[steveledzep]

I assume "across the board" means all the comparison sites ?  It's usually a postcode thing.  Out in the sticks in west Wales my RX costs me less than £300 with all the bells and whistles too.

[La_Lucha]

Sorry yes on comparison sites and a couple of insurers direct. The area is low crime and my dad who lives less than a mile away pays no more than £200 for his Mondeo (albeit he is 30+ years older than me)

[DAN@ADRIAN FLUX]

Have you tried us for insurance yet? If you wanted to PM me I'd be happy to arrange a quotation for you.

Kind Regards

Dan

[Shahpor]

It does seem to depend a lot on postcode.

When I lived in London my insurance was £700.  Since moving, it is now £350 with exactly the same details.

Have you tried adding your dad to your policy?  Perfectly ok as long as he isn't the main driver, and as a added bonus, he can borrow your car.

[rayaans]

8 hours ago, La_Lucha said:

Sorry yes on comparison sites and a couple of insurers direct. The area is low crime and my dad who lives less than a mile away pays no more than £200 for his Mondeo (albeit he is 30+ years older than me)

As mentioned already insurance heavily depends on postcode

Also depends on how old you are, how many named drivers you have, the number of claims made by policyholders of your age and the number of claims made by named drivers (hence, removal of named drivers can sometimes save you a lot). 

It doesn't necessarily relate to the crime rate itself but more of how many cars are stolen in your area and how much the cost of each claim was. Insurance will also take into account any accidents/claims/convictions you've had.

Having kids automatically makes your insurance jump up as insurers class them as distractions when driving and take into account isolated incidents such as kids banging the garage door on the car etc

[Malc]

............ it's simply a lottery where you're making a donation to the coffers of a monster band of thieves protected by law .....  the Insurance Companies.

Malc

[kris250]

I'm paying 2500 a year :')

 

Dont complain

[Shahpor]

£2500 a year?  I remember those days.  You must really love your car.

[mr2lad]

I received my renewal last week and had increased from last year by £140 so phoned up and asked why, seeing as cars value had decreased and NCB had increased no new convictions etc etc was then informed they could give me a extra 10% off my renewal but declined as had already found a cheaper company 

£220 fully comp for my LS600hl not bad eh complete with breakdown cover etc etc

excess is £850 tho...£350 compulsory and £500 volunteered, 

[Shahpor]

£850 excess!

Have you tried lowering it to see how much the premium increases?  I have found that in some cases, the rise in premium price is no where near as much as the drop in excess.

[Rusty Crobar]

Hi, it's also worth remembering that insurance tax has increased recently and accounts for nearly 10% of the price. Plus the new ogden rate change has been in the pipeline for a while so insurers have slowly been increasing prices to cover the millions it's going to cost them. 

If none of your details have changed and you are getting higher prices from everyone then shows that prices are going up generally 😔

There is no easy way to make it cheaper although it helps to make sure you have a low risk driver named on the policy, don't overestimate your annual mileage, and have access to another vehicle. It's also worth checking your occupation as this can make a difference. Most jobs can be described in several different ways and each can give a different price.

[rayaans]

1 hour ago, Rusty Crobar said:

Hi, it's also worth remembering that insurance tax has increased recently and accounts for nearly 10% of the price. Plus the new ogden rate change has been in the pipeline for a while so insurers have slowly been increasing prices to cover the millions it's going to cost them. 

If none of your details have changed and you are getting higher prices from everyone then shows that prices are going up generally 😔

There is no easy way to make it cheaper although it helps to make sure you have a low risk driver named on the policy, don't overestimate your annual mileage, and have access to another vehicle. It's also worth checking your occupation as this can make a difference. Most jobs can be described in several different ways and each can give a different price.

Shouldnt really make much difference as it only went up by a small amount - and, it was back in October 2016. 

My insurance has gone down year on year since owning my car

Multicar policy with Admiral in 2015/16 year was £800 with £500 total excess for the RX450h (10K business use + 16 year NCD) and the IS300H (5k commuting + 12 year NCD). Multicar policy with Admiral in 2016/17 year was £753 despite the tax increase with same excess and mileages but also 1 claim of £2300!! (wife's fault just to put it out there).

My 21 year old son's is best though - he's a completely new driver - 06 VW Polo 1.4 on 8k per year personal use - 2015/16 was £673 for 10 month Admiral telematics NCD accelerator (he had 0). Come renewal time it went down to £575 even though he's got bronze score throughout the year. I got him to ring up and pull the "student got no money" card and its now £448 with £400 total excess :)

All policies comprehensive of course but Admiral seem unbeatable for pure value at the minute

[Britprius]

I must admit Admiral prices are very competitive.

I am with Admiral Premier and pay £280 for my GS450H. This includes breakdown cover including hotel accommodation if required, personal injury, protected no claims, legal cover, and just about anything else you can think of with an excess of £250, and 12000 millage. They do try to put the price up each year by some margin, but a phone call soon brings the price back down. Over the last 4 years "apart from when I changed cars" the premium actually went down on the previous years price.

I do live in a very low crime rate area "if you discount sheep rustling" Herefordshire  Wales boarder country. Oh, and I am over 70. 

John

[DaCrazyOne]

On 3/9/2017 at 7:41 AM, La_Lucha said:

Hi All I've recently bought a 2009 IS220d and I'm astonished with insurance prices.

I'm 33, live in a nice semi,2 kids co-habiting with a decent job and 6 years NCB.

 

Can anyone understand why my policy is £600+ across the board? 

I would love for £600 on me Lexus am 32, 4 years no claims and just got quote in for £1295 on mine. You could try http://www.quotezone.co.uk Have found them to be a lot cheaper than most the compare sites and some of the car owner club ones too Prestige Keep Moving Insurance Scheme http://www.prestigekeepmoving.com and https://www.adrianflux.co.uk/

A lot of the things I found out when coming to doing insurance and price difference

1 Area

2 Amount of accidents in area

3 How serious each accident was. 

4 How much of a risk damage to car is in area and risk of being stolen.

5 Type of job you are in. Crazy as it sounds different types of jobs cost more or less its stupid but its true.

Amount of excess you set and are willing pay found £200 to £300 can be a sweet spot. Some insurance company's like hastings on fully comp is only £75 so nice.

6 Security features and safety features.

Found some company's are now giving discussants for having dash cam installed. 
Swiftcover 10% off

axa 5%
RAC £30 off

Theirs lots more when it comes to insurance. To me insurance is the biggest scam going. If I had the money to set up an insurance company I would reward all people who have had no convictions have no claims bonus. No points and no previous and be be guaranteed to be beaten on any other insurance quote. Regardless of area in and all the BS a lot of insurance use.
 

 

[Athey]

Hi everyone, my current insurer NFU has decided that after almost 7 years of me being with them, they will no longer cover my area! Good way to keep your customers then. everyone else apart from Adrian flux wants me to pay off the american national debt to insure. Is this just blatant greed or what?  Dan if you read this, i will be ringing back to insure through yourselves, and you did insure my M3 cheap a few years ago, so please continue to get a good deal for us!

[is 220d owner]

Hi , i got is 220d se-l 2008 insurred with axa for 500£ in N.Ireland i am 25, got my license for 8 years, 3 years no claim bonus ,never had any claims.  So i guess your insurance must be lower then 600.