Is this some kind of joke....?

Mincey · October 15, 2021

Just out of curiosity, I checked to see how much my insurance would go up when I collect the ES on Wednesday. The policy for my IS expires in May and the company who, let's call them Swinton, for that is their name, wish to charge me an extra £124 for the rest of the year. The policy for my IS is £326/year. I've done some confusing.com and comparing of the market and I get figures starting at £270 for the ES. I realise that the insurance market is going to change very soon, I think that an extra £124 to cover seven months is rather steep. They really do have you by the short and curlies don't they? I'll be giving them the opportunity to explain this in a phone call very soon, mark my words! I was expecting a rebate as I was going from a rocket ship and the best car in its segment bar none, to what is effectively an Old Man's car. That little idea has been well and truly thwarted.

Las Palmas · October 15, 2021

You cannot blame them. They do what all insurance companies do.

They will first give you a good offer when you tell them that you are going to change from them to competitor.

Illogan · October 15, 2021

Effectively, what Swinton are doing is 'trying it on'. A discussion with them will do you no harm at all!

The other option you have, of course, is to simply cancel your current policy, (for which they will probably charge you £50 cancellation fee, and they are then required to return the balance.

You can then buy a new policy from whomsoever you wish.

I would also suggest you use a cashback/rebate company (suchas Quidco or TopCashBack, (I shop around every year - and have always had a rebate of between £50<>£80 doing this. (it will take 4~5 months to get the rebate - but it pays for the beer!

Mincey · October 15, 2021

25 minutes ago, Illogan said:

Effectively, what Swinton are doing is 'trying it on'. A discussion with them will do you no harm at all!

The other option you have, of course, is to simply cancel your current policy, (for which they will probably charge you £50 cancellation fee, and they are then required to return the balance.

You can then buy a new policy from whomsoever you wish.

I would also suggest you use a cashback/rebate company (suchas Quidco or TopCashBack, (I shop around every year - and have always had a rebate of between £50<>£80 doing this. (it will take 4~5 months to get the rebate - but it pays for the beer!

Very interesting - I wasn't aware they offered cashback on Car Insurance. Quidco gave me a lower quote than the three main comparison sites too! A top tip - thank you!

Malc · October 15, 2021

2 hours ago, Mincey said:

They really do have you by the short and curlies don't they?

yep for sure

but it's even worse when you move house mid stream and then they really really clobber you with usually zilch reason other than the underwriters think that, on that day, your risks increase hugely

And then when you renew at a later time, maybe a few years down the line........... woweeee, the premium reverts to a sensible one and all along they were taking the pi-s

you always lose, they always win ...... oh, and that was Saga by the way back in 2012 ....... I've been back with Saga now for a short while BUT never forget these lessons tho' eh !

Malc

royoftherovers · October 15, 2021

3 hours ago, Mincey said:

Just out of curiosity, I checked to see how much my insurance would go up when I collect the ES on Wednesday. The policy for my IS expires in May and the company who, let's call them Swinton, for that is their name, wish to charge me an extra £124 for the rest of the year. The policy for my IS is £326/year. I've done some confusing.com and comparing of the market and I get figures starting at £270 for the ES. I realise that the insurance market is going to change very soon, I think that an extra £124 to cover seven months is rather steep. They really do have you by the short and curlies don't they? I'll be giving them the opportunity to explain this in a phone call very soon, mark my words! I was expecting a rebate as I was going from a rocket ship and the best car in its segment bar none, to what is effectively an Old Man's car. That little idea has been well and truly thwarted.

Swindon was and maybe still is, owned by LV.

Ask LV for a quote.

Arnett · October 15, 2021

Also worth knowing they charge you more for doing it so close, should always do insurance for 21 days before the change is needed for best prices.

dutchie01 · October 15, 2021

Help me think, an insurer hands you an umbrella in case it starts raining so you stay dry only to take it away when it starts raining?

Dont know in the UK but overhere you can change insurer overnight and the cost differs immensely

VFR · October 15, 2021

Had a similar shock from LV when I bought this 450h, thought it would be a little more coming from a 1.8 Honda but no it was a lot more.

Years of no claims, elderly and a LV customer (via an insurance policy) for well over 50 years so not looking forward to the renewal time as the quotes from M-Supermarket etc were very high as well.

Lovely car though. 🙂

royoftherovers · October 15, 2021

3 hours ago, VFR said:

Had a similar shock from LV when I bought this 450h, thought it would be a little more coming from a 1.8 Honda but no it was a lot more.

Years of no claims, elderly and a LV customer (via an insurance policy) for well over 50 years so not looking forward to the renewal time as the quotes from M-Supermarket etc were very high as well.

Lovely car thought. 🙂

IT is pointless comparing pounds with pounds.My LV quote is extremely competitive.

There are many factors which produce a competitive quote.

Illogan · October 15, 2021

4 hours ago, Arnett said:

Also worth knowing they charge you more for doing it so close, should always do insurance for 21 days before the change is needed for best prices.

Indeed. I sought quotations this year 28 days before my (then) current insurance expred, and to start ONE DAY BEFORE my current policy end-date.

The best quote was from my (then) current insurer, the new quote was £382

The renewal quote (for the then current) policy was £442 - (from the same insurer!)

So I bought the policy starting a day earlier, (and received £65 cashback from the rebate house.)

Am now in beer for an extra week (or so) 😊

Mincey · October 16, 2021

13 hours ago, royoftherovers said:

Swindon was and maybe still is, owned by LV.

Ask LV for a quote.

I've just done that and it works out as another £124 on my policy! I shall call Swinton and ask them to be more reasonable. Beforehand though, I will check the cancellation process as the offer from Quidco could work in my favour. It's a right minefield isn't it.

Phil xxkr · October 16, 2021

47 minutes ago, Mincey said:

I've just done that and it works out as another £124 on my policy! I shall call Swinton and ask them to be more reasonable. Beforehand though, I will check the cancellation process as the offer from Quidco could work in my favour. It's a right minefield isn't it.

James, when I bought the 450h earlier this year I added it to my existing LV policy via Quote me happy for a very reasonable 248 a year, should I sell my XKR it seemed to be the most cost effective solution

VFR · October 16, 2021

17 hours ago, royoftherovers said:

IT is pointless comparing pounds with pounds.My LV quote is extremely competitive.

There are many factors which produce a competitive quote.

Yours may well have been & I am happy for you, but on the face of it my circumstances remain the same except that its now a Lexus 450h from a Honda FRV to paying over 3 times the amount PA seems a tad to much to my mind.

Still such is life.

Mincey · October 17, 2021

Just for ****s and giggles, I ran a quote through Swinton to see what they'd charge a first time customer with the car, planning to use this information when I phone them later this week to discuss their interesting commercial techniques. I used exactly the same details as for CTM, Confused.com, MSM and Quidco. The result was surprising:

Have they flagged the registration as having a nuisance as a potential customer? Are they steeling themselves for an irate phonecall? I'm as curious as you all are, and that's a fact!

LittleCasper · December 7, 2021

On 10/15/2021 at 1:40 PM, Mincey said:

Just out of curiosity, I checked to see how much my insurance would go up when I collect the ES on Wednesday. The policy for my IS expires in May and the company who, let's call them Swinton, for that is their name, wish to charge me an extra £124 for the rest of the year. The policy for my IS is £326/year. I've done some confusing.com and comparing of the market and I get figures starting at £270 for the ES. I realise that the insurance market is going to change very soon, I think that an extra £124 to cover seven months is rather steep. They really do have you by the short and curlies don't they? I'll be giving them the opportunity to explain this in a phone call very soon, mark my words! I was expecting a rebate as I was going from a rocket ship and the best car in its segment bar none, to what is effectively an Old Man's car. That little idea has been well and truly thwarted.

I'm paying £1400 for my IS250 but I am only 22, I'm just waiting for it to go down like my motorcycle insurance did; I only pay £150 for my crotch rocket.

Barry14UK · December 7, 2021

I read that from January, Insurance companies will not be permitted to offer introductory offers that are lower than for renewal for the same risk as for existing policy holders. Good for those that just renew automatically but less so for those shopping for introductory offers. How this will affect variable rates for time policy required before taking out, if at all, will be interesting.

cruisermark · December 7, 2021

4 hours ago, Barry14UK said:

I read that from January, Insurance companies will not be permitted to offer introductory offers that are lower than for renewal for the same risk as for existing policy holders. Good for those that just renew automatically but less so for those shopping for introductory offers. How this will affect variable rates for time policy required before taking out, if at all, will be interesting.

probably explain why this year my renewal was £4 less - previously it has always gone up

Phil xxkr · December 7, 2021

3 hours ago, cruisermark said:

probably explain why this year my renewal was £4 less - previously it has always gone up

Yet my renewal with LV on my XKR and RX multi policy went up despite no change in circumstances? And it was on auto renewal which I completely forgot fortunately it isn't until 22/12 so cancelled just in time. Then did the comparison bit and saved a fortune through a mix of classic car insurance and Tesco insurance.