Car Insurance

[BalKang34]

Hi, can anyone please recommend some car insurance companies that tend to have the cheapest prices? I've searched on the comparison websites and most of them say you have to use a telematics monitoring device in order to obtain the best price. Any help would be great thank you. 

[royoftherovers]

19 minutes ago, BalKang34 said:

Hi, can anyone please recommend some car insurance companies that tend to have the cheapest prices? I've searched on the comparison websites and most of them say you have to use a telematics monitoring device in order to obtain the best price. Any help would be great thank you. 

You should part-ex the IS for an Aygo sir.😉

[wharfhouse]

37 minutes ago, BalKang34 said:

Hi, can anyone please recommend some car insurance companies that tend to have the cheapest prices? I've searched on the comparison websites and most of them say you have to use a telematics monitoring device in order to obtain the best price. Any help would be great thank you. 

If you are young (teens/early 20's) and fairly newly qualified then yes, you will always get a better price by having telematics fitted and may find it hard to get insurance at a sensible price without it. Adding a parent onto the policy (even if they never drive the car) can actually reduce the premiums as well in these early years. After a few years of claim free (and clean licence) driving you will find the insurance switches to being cheaper for not having telematics fitted as the insurance companies deem you a better risk and so don't want to go to the expense of fitting the box in your car, and it's also cheaper if said parent is then removed from the policy too. Seen this play out through over the last 6 years or so as my daughter has progressed from newly qualified teen driver to more experienced.

[BalKang34]

Thanks for replying. I'm in my mid 40s, clean license with 13 years ncb. I've been quoted £445 fully Comp but without the device it's £583.ive been paying around the £450 price for the last 2 years but this has taken me aback somewhat, especially the device and how the insurance company is trying to make things difficult now 

[wharfhouse]

39 minutes ago, BalKang34 said:

Thanks for replying. I'm in my mid 40s, clean license with 13 years ncb. I've been quoted £445 fully Comp but without the device it's £583.ive been paying around the £450 price for the last 2 years but this has taken me aback somewhat, especially the device and how the insurance company is trying to make things difficult now 

Wow - please accept my apologies as I made some wrong assumptions. I can't say I have ever come across that. Although I'm a few years older than you, like you I have full NCB and clean licence etc and have in the past checked to see if a policy with telematics (I'm assuming you are referring to the boxes that monitor your driving and not tracking devices in case the car is stolen) would be cheaper and it was always more expensive than a policy without it (or at best the same). As I said as soon as my daughter had a few years NCB she got cheaper insurance without telematics and so why you are finding it hard to find insurance cheaper than one with a telematics box seems very odd. At the price you have mentioned I'm really surprised an insurance company would be interested in spending the money fitting the device when you may well change companies the next year. Maybe something starting to change within the insurance industry - I'll keep a close eye on it next time I renew.

[BalKang34]

That's fine. The telematics device is to monitor your driving, how you accelerate, your braking, cornering etc then it gives you a score which then your insurance price is based on.

[wharfhouse]

12 minutes ago, BalKang34 said:

That's fine. The telematics device is to monitor your driving, how you accelerate, your braking, cornering etc then it gives you a score which then your insurance price is based on.

I tend to think the whole telematics thing for more experienced drivers is just another marketing ploy at the moment for insurance companies to try and lock people in - again I can only talk about my daughter's experience but she had the telematics box fitted and had a good driving record looking at the telematics dashboard and yet when she came to renew the renewal quote from her current insurance company (who fitted the box) was more expensive than changing to a new company that didn't require a telematics box! So no reward there for good driving even with the proof from the box. Hope you find a policy soon that better meets your needs. 

[Linas.P]

1 hour ago, BalKang34 said:

Thanks for replying. I'm in my mid 40s, clean license with 13 years ncb. I've been quoted £445 fully Comp but without the device it's £583.ive been paying around the £450 price for the last 2 years but this has taken me aback somewhat, especially the device and how the insurance company is trying to make things difficult now 

If you have IS200t as per your profile, then don't be surprised - it has ridiculous insurance category. I was surprised myself when I got RC200t and my insurance company literally refused to transfer my cover. I was expecting insurance would go a little bit for the remaining 3 months, no they literally said "we can't insure you". So I had to freeze my existing insurance on IS250 and get separate insurance on RC200t which was £1400. £580 does not sound that bad, but you 10 years older than me, so perhaps it does makes sense. Although, insurance prices should be down at the moment and I recently was quoted £562 (which is amazingly cheap for me).

36 minutes ago, BalKang34 said:

That's fine. The telematics device is to monitor your driving, how you accelerate, your braking, cornering etc then it gives you a score which then your insurance price is based on.

If it is telematics like Bell (just plugs in into 12V and you return it after 3 months) then I would go for it as it does not require any holes in the car and no messing around with wiring. They actually, asked me to return it after like 6 weeks when I had one and refunded me £80 because apparently I was good driver. But I would no go for any trackers which are hardwired under the car and which you have to keep for whole years. 

[steve2006]

I’ve had “classic” car insurance on mine for the last 6-7 years ( car needs to be 20 years + old to qualify) plus I had a company vehicle.

An agreed value limited mileage policy saved me over £100.00 a year.

It came around to bite me though when I bought a newer vehicle......the full NCB I had was “expired” so I ended up paying nearly all that saving back on a year’s cover!

Took a bit of finding cover as well being an import one insurer wanted a Cat 1 Thatcham fitted so there was another £500.00 even though it is a factory fit system on UK models.

[Mikey B]

3 hours ago, BalKang34 said:

Thanks for replying. I'm in my mid 40s, clean license with 13 years ncb. I've been quoted £445 fully Comp but without the device it's £583.ive been paying around the £450 price for the last 2 years but this has taken me aback somewhat, especially the device and how the insurance company is trying to make things difficult now 

Your age/ status is pretty much the same as mine, and I took out new insurance a couple of weeks ago. For an IS300h on 15K a year, second named driver and business use I paid £260.  The 200t looks to only be 3 or 4 groups higher so something sounds wrong. Is your postcode high risk?

[Linas.P]

IS200t 38E vs IS300h 30E (older models seems to be 32E), that is not small difference.

IS250 was 29E and I had insurance for £620, moving onto RC200t 38E it became £1400... so more than double the price for 9 categories difference. Obviously, categories are just one of many things, but insuring 200t is surprisingly expensive and the only thing I found out of ordinary is that insurance category is very high for them... and it makes no sense.

RC-F is 40E with 471hp, then how it makes sense RC200t is 38E with 241hp... 

[BalKang34]

11 hours ago, wharfhouse said:

I tend to think the whole telematics thing for more experienced drivers is just another marketing ploy at the moment for insurance companies to try and lock people in - again I can only talk about my daughter's experience but she had the telematics box fitted and had a good driving record looking at the telematics dashboard and yet when she came to renew the renewal quote from her current insurance company (who fitted the box) was more expensive than changing to a new company that didn't require a telematics box! So no reward there for good driving even with the proof from the box. Hope you find a policy soon that better meets your needs. 

I agree with you and what you mentioned upon renewal that the price increased just goes to show how we are in there hands, how could they justify the price increase... Ridiculous. Surely there has to be a governing body that can clamp down on these tactics. Furthermore I'm baffled how a young dri er with little to no experience is getting a cheaper price than one who is vastly experienced, also they mentioned using the device as part of the policy, I'm going to ask the question where in there ts & Cs does it say I must own a smartphone? As that's the only way to use the device. Anyway, thank you for taking the time to post. 

[BalKang34]

11 hours ago, Linas.P said:

If you have IS200t as per your profile, then don't be surprised - it has ridiculous insurance category. I was surprised myself when I got RC200t and my insurance company literally refused to transfer my cover. I was expecting insurance would go a little bit for the remaining 3 months, no they literally said "we can't insure you". So I had to freeze my existing insurance on IS250 and get separate insurance on RC200t which was £1400. £580 does not sound that bad, but you 10 years older than me, so perhaps it does makes sense. Although, insurance prices should be down at the moment and I recently was quoted £562 (which is amazingly cheap for me).

If it is telematics like Bell (just plugs in into 12V and you return it after 3 months) then I would go for it as it does not require any holes in the car and no messing around with wiring. They actually, asked me to return it after like 6 weeks when I had one and refunded me £80 because apparently I was good driver. But I would no go for any trackers which are hardwired under the car and which you have to keep for whole years. 

I've received the device yesterday, its a small triangle shape and apparently I need to download there app and pair it with the device. What company did you get the cheap price you mentioned? 

[BalKang34]

8 hours ago, Mikey B said:

Your age/ status is pretty much the same as mine, and I took out new insurance a couple of weeks ago. For an IS300h on 15K a year, second named driver and business use I paid £260.  The 200t looks to only be 3 or 4 groups higher so something sounds wrong. Is your postcode high risk?

My postcode is OK, I've been a Lexus owner for nearly 20 years I'm on my 3rd model and this years insurance is alot higher, like you eluded, its just not right, makes no sense. 

[paulrnx]

Is it due to cat theft I wonder?

[Linas.P]

2 hours ago, BalKang34 said:

I've received the device yesterday, its a small triangle shape and apparently I need to download there app and pair it with the device. What company did you get the cheap price you mentioned? 

Few weeks ago my cheapest "non-blackbox" price was with Admiral, and Hastings Direct was another £80 cheaper with black-box. Just did another quote today and Ford Insurance came just £12 higher than Hastings Direct... and Hastings direct is now £764... All over the place basically. 

[wharfhouse]

2 hours ago, BalKang34 said:

My postcode is OK, I've been a Lexus owner for nearly 20 years I'm on my 3rd model and this years insurance is a lot higher, like you eluded, its just not right, makes no sense. 

I probably have too much time on my hands(!) but I ran a couple of cars through confused.com this morning using my own details - my postcode is West Berkshire with no accident claims in last 5 years and clean driving licence with full no NCD with 15,000 miles per annum and business use and with my wife as a named driver (no accident claims and clean licence) - also included Legal Cover, Courtesy car and Windscreen cover and total excess (voluntary and compulsory) totalling around £400 in each case.

I ran the quotes for two cars - a Lexus 2015 IS 220t F Sport and a Lexus 2015 IS 300h F Sport (I actually have a 2014 IS 300h Executive but used the 2015 F Sport to have a direct comparison).

Confused.com returned annual premiums of approx £330 for BOTH cars - different insurance companies were listed in each case but the cheapest policy was around the £330 regardless of whether IS 200t or IS 300h. I then toggled the box for "Show black box policies on and off" and there were no black box policies even available for either (which is what I have found before).

Insurance risk is always very personal to ones own circumstances of course but from what you have said there does seem to be something amiss in your case. Is it anything to do with your profession - that can also have an impact on the premiums.

I would run one or more of the comparison sites again and adjust some of the parameters and see what you are getting back and then move companies if you find what you want (I seem to end up moving policies nearly every year when I run the comparison sites).

[royoftherovers]

3 hours ago, BalKang34 said:

My postcode is OK, I've been a Lexus owner for nearly 20 years I'm on my 3rd model and this years insurance is alot higher, like you eluded, its just not right, makes no sense. 

Have you tried phoning Companies that are NOT ON Comparison sites ?

Possibly, LV, NFU, Saga,AVIVA and others. Google for more.

[Linas.P]

LV and AVIVA are certainly on comparison sites, but generally I agree - there are some companies not on comparison sites which may provide different quote. Although based on my experience I could never get lower price than comparison sites provided. It was more along the lines that they provided almost double the price on the quote, but then they agreed to provide "50%" discount which basically brought them in line with the quotes on comparison sites. Maybe they are trying to play on psychological factor that you get "massive discount", but in the end they all provide almost the same price. 

[royoftherovers]

1 minute ago, Linas.P said:

LV and AVIVA are certainly on comparison sites, but generally I agree - there are some companies not on comparison sites which may provide different quote. Although based on my experience I could never get lower price than comparison sites provided. It was more along the lines that they provided almost double the price on the quote, but then they agreed to provide "50%" discount which basically brought them in line with the quotes on comparison sites. Maybe they are trying to play on psychological factor that you get "massive discount", but in the end they all provide almost the same price. 

`twas just a thought young man as it is often overlooked.

Price is one of a number of factors Linas and it is so important to check (in so far as one can), other factors such as extent of cover, excess payable, the small print, customer service. etc. And there are Annual Surveys carried out to determine "the best Insurance Companies" You might wish to remind members of this Linas?

In Phil`s answer above, 3rd Para refers to BOTH cars. Does he mean EACH, do you think ?

An interesting topic indeed.

[Linas.P]

You know my personal opinion on that Roy - all those things about insurance companies are irrelevant, because if you get hit or worse you hit somebody you will be screwed either way. At the time of the accident it may look like you got the better deal, but every single penny will be taken back from you in a way of increased premium for many years to come. So just get the cheapest cover to comply with the law and that is it. 

It is true that certain details will make certain covers better value than others e.g. if you have once cover for £500 and another for £550, but the one for £550 has lower excess and includes breakdown cover, then the later is actually better value. I cannot argue with that. However, that is very personal and I can't advise on that - maybe one already has breakdown cover, so why get another one with more expensive insurance?

Quote

And there are Annual Surveys carried out to determine "the best Insurance Companies" 

It is funny you mention that, today when checking the quotes again I have noticed the label next to Admiral quote - according to Confused.com which is owned by Admiral, the Admiral is voted the best insurance company for 7 years in a row (not sure if you can see irony in this statement).

[royoftherovers]

With the greatest of respect Linas it is evident that your opinion embellishes much of the information you provide. You would do well to ensure that the facts surrounding a particular question are included (in so far as you are aware of them ) in any response you make. 

[wharfhouse]

1 hour ago, royoftherovers said:

`twas just a thought young man as it is often overlooked.

Price is one of a number of factors Linas and it is so important to check (in so far as one can), other factors such as extent of cover, excess payable, the small print, customer service. etc. And there are Annual Surveys carried out to determine "the best Insurance Companies" You might wish to remind members of this Linas?

In Phil`s answer above, 3rd Para refers to BOTH cars. Does he mean EACH, do you think ?

An interesting topic indeed.

Hi - apologies it wasn't clear - what I meant to say is that I received back quotes on confused.com for approx £330 for the IS 200t F Sport and also received quotes for approx £330 for the IS 300h F Sport - in other words all things being equal I received approximately the same price regardless of the car (though from different insurance companies for each car) - in both cases no telematics required (or even offered) - given the previous comments about the 200t being a lot more expensive to insure (and the need to have telematics), that was not the experience in my case based on the quotes on a like for like comparison. My own 2014 IS 300h Executive, again for the same details of use, drivers etc., was actually £320 to insure just a month ago.

Interestingly, I was with LV last year (switched from Admiral who hiked the premiums) on a multi car insurance (my IS 300h and my wife's Toyota Yaris) and on renewal the quote went up significantly (with absolutely nothing changed during the year). I ran confused.com and received new quotes, in my case with AXA it was down to nearly half the price of the LV renewal and in my wife's case about 20% less than LV using Tesco Insurance. Rang LV but they could only offer a small discount on the renewal and so moved to AXA (for the Lexus) and Tesco (for the Toyota) - so two separate policies instead of one multicar.

I came to the conclusion many years ago that there is simply no logic with car insurance and the only way forward is to plan to run quotes using comparison sites around 3-4 weeks before the renewal is due and make your decisions based on that - there is no reward for loyalty! 

[wharfhouse]

51 minutes ago, Linas.P said:

You know my personal opinion on that Roy - all those things about insurance companies are irrelevant, because if you get hit or worse you hit somebody you will be screwed either way. At the time of the accident it may look like you got the better deal, but every single penny will be taken back from you in a way of increased premium for many years to come. So just get the cheapest cover to comply with the law and that is it. 

It is true that certain details will make certain covers better value than others e.g. if you have once cover for £500 and another for £550, but the one for £550 has lower excess and includes breakdown cover, then the later is actually better value. I cannot argue with that. However, that is very personal and I can't advise on that - maybe one already has breakdown cover, so why get another one with more expensive insurance?

It is funny you mention that, today when checking the quotes again I have noticed the label next to Admiral quote - according to Confused.com which is owned by Admiral, the Admiral is voted the best insurance company for 7 years in a row (not sure if you can see irony in this statement).

Admiral has just concluded the sale of confused.com to RVU - Admiral concludes £508m sale of interests including its price comparison venture Confused.com - Business Live (business-live.co.uk) - RVU owns Uswitch and Money.co.uk

[Linas.P]

44 minutes ago, royoftherovers said:

With the greatest of respect Linas it is evident that your opinion embellishes much of the information you provide. You would do well to ensure that the facts surrounding a particular question are included (in so far as you are aware of them ) in any response you make. 

I would absolutely agree with you here if it would be possible to make it comparable. The reason I don't go into the details is because in UK insurance is collecting excessive amount of details (in my opinion again). It warries a little bit between the company to company, but generally there are few dozen questions with often indefinite ways of how they could be answered - as result leaving indefinite number or possible quotes. If we just oversimplify and say there are 50 data points, with 50 different answers each this creates this number possible combinations - 50,445,672,272,782,075,000,000,000,000 (not my math I just used online combinations calculator!).

I assume insurance does not have that many risk profiles, but there would be hundreds if not thousands... Meaning that every single person in UK will get different quote and trying to compare them is mostly meaningless.