insurance Renewal

[Barry14UK]

Thank you Garth, I will add Co-op to my search near renewal time next year. (I was with them many years ago).  I did try my Bank and a supermarket and comparison site at the end of last year.  It may be that insurance premiums have taken quite a hike but some insurers have moved quicker than others and it may come as a surprise when some renewal premiums become due.  In fact ongoing  claims due to floods may exacerbate this.

I spoke with LV this week saying I would not be renewing my home insurance with them this year and asked if they would provide me with confirmation of my no claims history or whether this would be down to my new insurers.  I was told they didn't do this anymore as information was on an industry shared database.  I asked whether this also applied to car insurance and this was confirmed.

[royoftherovers]

Thanks for the information Garth.

Have you agreed to pay a large excess in respect of the vehicles?

[Garth-1]

13 hours ago, royoftherovers said:

Thanks for the information Garth.

Have you agreed to pay a large excess in respect of the vehicles?

Biggest excesses are for my Mercedes, £250 compulsory + £150 voluntary.  All other combined excesses are lower.

Last year I got a great deal on the MX-5 from the Co-op:- premium£150 (= their minimum) less £50 of Co-op food vouchers for being a new customer = Nett £100.

[Spottedlaurel]

Last year I paid just under £850 for a 5-car multi vehicle policy with Footman James, for four 'classics' (1972 Datsun to 1993 Camry) on agreed value plus the RX, with business use on all of them. I live in a rural area and all the cars are on the driveway/garaged. The policy itself (certainly for the Lexus) is with Ageas.

I haven't had to make a claim through them myself, but when I've been on the receiving end of two different accidents it turned out they were the other party's insurers. On both occasions they dealt with my side of it quickly and efficiently, so I was happy to see I ended up with them.

I imagine the £850 cost splits down to about £450 on the RX and £100 each on the old ones. I remember there being a bit of a jump when I changed from the Avensis as my daily driver.

My next renewal is due in May, by which time I'll be the right (or is it wrong?!) side of the age when Saga becomes an option. Will be interesting to do a bit of shopping around on the RX as a separate policy to see if it would be more cost effective to go that way.

[08ISF]

I had the same experience insuring my RX last year. Eventually got the price down to about £450 after a bit of negotiation. Strangely the RX was more expensive to insure than my previous GSF. Just reinforces the advice that you have to renegotiate every year. Loyalty counts for nothing with insurers. Interesting note about Saga though. I'll try them this year although I've always found them pricey in the past.

[Spottedlaurel]

On 2/29/2020 at 7:50 AM, Spottedlaurel said:

Last year I paid just under £850 for a 5-car multi vehicle policy with Footman James.................

Got my renewal from FJ today. With all the current bad stuff happening, plus the issue with Lexus/Toyota hybrids and cat thefts, I was expecting a rise and to have to search for something new. Not easy with five cars to consider.

But, the all-in cost came through at less than £660! The first benefit to me turning 50?........

policy is with Ageas again, which I'm happy about.

[Malc]

and each and every car they insure is probably at less risk of incident damage with all this continuing lockdown and with motoring miles seriously curtailed

they have surely factored in all this benefit to them and their shareholders I'm sure

Malc

[Spottedlaurel]

Fair point, that doesn't always mean they give anything back to us!

[Barry14UK]

I get the impression that many of the Insurers quote a competitive premium to attract new business.  Last year I moved to Saga but they have upped the price very considerably this year at renewal with none of my details otherwise changing.  I fed my details into the Confused site because I was really ha ha.  Anyway I used their link among others for a quote from autonet insurance group who turned out to be a broker.  Nevertheless, they seemed to be well reviewed and came up with a price that was much less than what I paid to Saga even last year.  The policy is with Ageas Insurance Limited who also seem to be OK (mentioned previously in this thread).  Strange thing is that when I did a check direct with Ageas providing the same details as given to the comparison site, the direct quote was about double!! 

[Malc]

7 hours ago, Barry14UK said:

the direct quote was about double!! 

then that's the power of using a Broker i guess

Malc

[Malc]

just reading that Admiral are making a £25 refund to all car policy holders right now ( maybe ) as fewer car claims emerging

Malc

[royoftherovers]

12 minutes ago, Malc said:

just reading that Admiral are making a £25 refund to all car policy holders right now ( maybe ) as fewer car claims emerging

Malc

Will they refund me £25 even if I`m with LV ?

[Guest]

Saga was the same for us, the renewal jumped by nearly £150 so ended up with Lloyds this year for basically the same price as last years premium.

Will probably have to do this year on year now as loyalty as obviously disappeared. 

[flookyk]

I am insured through Bell insurance which is part of Admiral group.

I pay around £450 for a year and have just had my renewal for this year starting beginning of May .. it's gone up by 13p for the year.

Also had the email from Bell insurance saying they are giving me the £25 refund as part of the Admiral group decision.

[ctobz22]

Hi

These are all great prices you are quoting for your insurance. I have just got purchased a preowned 2008 rx400h and the price for comprehensive is £800! I have had my license 11 years (clean) but lost my 4 years no claims as I didnt have insurance for 3 years. So was told my NCD is now 0.

This must explain the 800!