Insurance question

[Sybaris]

Hi

I am looking at a 2020 / 2021 RX 450h and I am getting fully comp insurance quotes of £1000 to £1600

I have a 2016 NX and that has always been about a third of what I am getting quoted for the RX

Is this the going rate to insure it or have prices suddenly gone up.

I am not a youngster with a loaded premium and I have my full no claims.

This is a bit of a deterrent for buying the car at the moment.

[Phil xxkr]

3 minutes ago, Sybaris said:

Hi

I am looking at a 2020 / 2021 RX 450h and I am getting fully comp insurance quotes of £1000 to £1600

I have a 2016 NX and that has always been about a third of what I am getting quoted for the RX

Is this the going rate to insure it or have prices suddenly gone up.

I am not a youngster with a loaded premium and I have my full no claims.

This is a bit of a deterrent for buying the car at the moment.

That's extraordinary Dan 🤔, I'm with tesco Bank this year, £230 FC and a £20 Lidl voucher via compare the market 👍

[katabrontes]

Look at LG on line which was very good last year.  I had to move to Saga this year (much more expensive) to get extended cover in Europe.

[Spock66]

26 minutes ago, Sybaris said:

Is this the going rate to insure it or have prices suddenly gone up.

I certainly pay way less than half that, but your location is Greater London which will not help.

I assume you have tried the various price comparison websites?

[Herbie]

Insurance is so fickle that it's basically impossible to compare. It seems to change with the weather or what colour of socks you're wearing, but one thing I can say is that it shouldn't be anywhere mear as high as that, unless your area of Greater London has something to do with it.

Mine was about £465 three months ago with full, protected NCB etc., etc.

[Bluemarlin]

I'm with Direct Line and pay £400ish with protected no claims bonus. They were by far the cheapest quote I got last year.

[DAN@ADRIAN FLUX]

Hi.

Please feel free to give us a try for insurance if you haven't done so already.

Regards,

Dan.

[Barry14UK]

Strange thing is I am insured with AXA through a broker and got a much lower figure than going to AXA through a comparison site. Broker spoke with me and even gave a discount as I was a member of a car club.  Quotations vary so much it's hard to know how this can be so.  At varying points Insurers increase premiums for older drivers regardless of past history but they do place importance on a number of factors.  You can get the figure down if you increase your voluntary excess. 

I would check a bit wider as your figure seems rather high.

[Illogan]

6 hours ago, Sybaris said:

Hi

I am looking at a 2020 / 2021 RX 450h and I am getting fully comp insurance quotes of £1000 to £1600

I have a 2016 NX and that has always been about a third of what I am getting quoted for the RX

Is this the going rate to insure it or have prices suddenly gone up.

I am not a youngster with a loaded premium and I have my full no claims.

This is a bit of a deterrent for buying the car at the moment.

Dan,

Before you launch into a new policy - - spend an hour or so reading this article and some of its options:     https://www.moneysavingexpert.com/insurance/car-insurance/

[stringbender]

I was too busy to shop around and have just renewed with General Accident. Fully comp, NCD protected wife and me to drive, 11 years NCB, social pleasure only and a total £650 excess. Car is 69 plate Takumi. Paid £343 but promised myself to do a bit more checking next year. Tesco Bank sounded very reasonable if the cover is good.

Alan

[First_Lexus]

Can only agree with other posts on this thread. My new RX was pretty much the same to insure as my previous NX, albeit my premium rose when I moved from rural Wiltshire to West Berkshire (£370 annually to £450).

I’m with Aviva, now for the second year in a row as they were cheaper than everybody else on renewal. That’s never happened before with any insurance company as far as I can remember!

TBF most quotes were similar at £450-£500 with a couple of weird outliers into four figures, who I can only assume don’t want customers like me (21 years NCB, no convictions etc.). I have a £250 excess (£50 windscreen), legal cover, hire car but no breakdown as I have the Lexus cover with the car.

I only renewed yesterday!

[Sybaris]

Looks like today will be spent chasing down quotes.

Not sure which is harder, finding the spec I am after or getting a reasonable quote.

[Herbie]

The biggest problem is that you can't compare 'like-for-like' any more.

I passed my test back in 1975 and insurance really only came in three flavours, the highest level being 'fully comprehensive' and that's what it really meant. Everything was covered in that one package.

Now, 'fully comp' only means half of what it used to and the rest is extra. This means that Company A offer a different 'fully comp' than Company B does and both of them are different to what Company C provides.

'Hate' is maybe too strong a word but I intensely dislike insurance companies and their sharp practices.

[PeterI]

Mine for my 2020 RX was £1,127 with Toyota in house insurers, that is for a fairly central London location (Zone 2) with parking on a driveway and a 54 year old main driver. So it looks like your quotes are in the same ball park.

I just did a quick compare the market check and the quotes ranged from £974 as the cheapest with around five insurers (and two of those wanting to fit a black box) quoting less than Toyota/Lexus (and some going up to £5,000 with a cluster around £1,500.

One advantage of Toyota/Lexus is all OEM parts which for a car I bought from new feels like it's worth the extra £150 although the EU cover of 3 days feels a bit stingy.

Major issue I suspect is the car is relatively expensive so the losses could be quite high, I think the 6 year old BMW X3 (value ~£10K) I had was around £800 and my old LS400 (value sub £2K) ended up being more like £400

[Sybaris]

Admiral just quoted £3800 ?????

Im just outside of London in the suburbs so I expect it to be higher than further north but best price yet was Lexus at £1100.

Also the insurer has to be reputable and pay on in the event of a claim, not try and wiggle out of it as I once had with a well known travel insurer.  It was only the threat of going on national radio and naming them that got them to "correct the error".

On top of that I need to think about gap insurance, paint protection, excess insurance, winter tyres ... the list goes on.

Edited May 28, 2022 by ColinBarber

[Malc]

8 hours ago, Sybaris said:

On top of that I need to think about gap insurance, paint protection, excess insurance, winter tyres ... the list goes on.

why burden yourself with all this nonsense !

Malc

[Herbie]

10 hours ago, Sybaris said:

On top of that I need to think about gap insurance, paint protection, excess insurance, winter tyres .

Lexus dealer wanted £399 for GAP Insurance but https://www.motoreasy.com/gap-insurance was about £150 for 3 years cover if I remember correctly. Mind you, this was about 14 months ago before prices started going crazy so it may have gone up a bit since then.

Winter tyres - you live in Greater London not the Siberian wastelands and as such, Goodyear Vector 4Seasons or Michelin Cross Climates are great all-season tyres that perform brilliantly all year round in this country. You southern softies don't even get as cold as we do up here in Lancashire

[Malc]

24 minutes ago, Herbie said:

You southern softies don't even get as cold as we do up here in Lancashire

when I speak with my buddy nr. Brisbane Oz he feels the cold when it drops to 26c  HEAT .........  at that I'm stripping off 

Malc

[Sybaris]

The ungritted roads where I drive are a pain when they ice over and having driven on winters every year for a long time now, I would keep to then, especially in a car that weighs 2 tonnes.  The cross climates (now cross climate 2) are good but I still prefer dedicated winters.  

[Phil xxkr]

4 hours ago, Malc said:

when I speak with my buddy nr. Brisbane Oz he feels the cold when it drops to 26c  HEAT .........  at that I'm stripping off 

Malc

I am currently in Sorrento Italy enjoying 26,thats degrees not pints 😎

[Sybaris]

Well I'll be.

Checked it again as we are in to a new month and the quotes have dropped by £300.

[Herbie]

56 minutes ago, Sybaris said:

Well I'll be.

Checked it again as we are in to a new month and the quotes have dropped by £300.

The best prices are usually around 21 to 23 days before it's due according to http://moneysavingexpert.com

[Spottedlaurel]

My last policy renewal dropped by around £50 when I was within two days of it being due. I didn't think it would work out that way but was happy to be told otherwise.

[Barry14UK]

How crazy it is that when you sign up to renew your insurance shortly before due, it can make a considerable difference according to the days left before you sign up. So this is yet another variable.  It seems like insurers are trying to make it more difficult and more hassle  to compare quotes. I would like them to be obliged to give a figure that would apply anytime up to a month before due, just like many builders hold their price for a month or whatever.  Of course any accident or material changes before the policy actually starts, would still be taken into account before due date.

[Herbie]

10 hours ago, Spottedlaurel said:

My last policy renewal dropped by around £50 when I was within two days of it being due. I didn't think it would work out that way but was happy to be told otherwise.

That's unusual because, again according to moneysavingexpert.com, leaving things close to/until the last minute statistically means you're more likely to make hasty, or even bad decisions.