Car Insurance - 'We don't insure this type of car'.

[PGL]

Received an email from current insurer that they are unable to provide a renewal quotation.

Normally use a cash back site for quotes, again have received ''We don't insure this type of car'.

Last year it was £229, cheapest similar quote now £339!

What is the problem? Anyone else with similar car having issues?

[rayaans]

4 hours ago, PGL said:

Received an email from current insurer that they are unable to provide a renewal quotation.

Normally use a cash back site for quotes, again have received ''We don't insure this type of car'.

Last year it was £229, cheapest similar quote now £339!

What is the problem? Anyone else with similar car having issues?

Insurance prices across the board have gone up

same with myself I was getting around £500 for insurance on my RX and the cheapest now is £620

[First_Lexus]

4 hours ago, PGL said:

Received an email from current insurer that they are unable to provide a renewal quotation.

Normally use a cash back site for quotes, again have received ''We don't insure this type of car'.

Last year it was £229, cheapest similar quote now £339!

What is the problem? Anyone else with similar car having issues?

There have been a few similar threads recently. My RX was £350 fully comp last year, renewal was over £700. With a bit of shopping around reduced to £600.

Interestingly no such increase in annual premium for my MINI, which stays at £130 fully comp (as it has been for years).

[wharfhouse]

My IS 300h jumped in price 37% this year with no change in circumstances and couldn't get it cheaper by shopping around on comparison sites. However my wife's Toyota Yaris stayed the same price as last year with no change in circumstances!

[DAN@ADRIAN FLUX]

Hi.

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

Regards,

Dan.

[Carriage Return]

I think I can best you unfortunately.

I live in a rough part of London. My quote last year was £577. 2018 model, Fully comp, clean history 8 years no claims, single driver, over 40. This year they want £1042. No change in circumstances. I went to the vendor which rhymes with Bisect Lime and they wanted.... £1,372. Something is up. 

[Supafly]

I hope this isn't a blanket premium hike on all lexus models... The surge in thefts on newer models may be causing a change in risk profile for the marque.

I've always struggled with insurance due to where I live, I have nearly 20 years no claims, clean license, no accidents but still struggle to get quotes under £1k for my 25 year old lexus.  Really not looking forward to renewal time later this year.

[wharfhouse]

7 minutes ago, Supafly said:

I hope this isn't a blanket premium hike on all lexus models... The surge in thefts on newer models may be causing a change in risk profile for the marque.

I've always struggled with insurance due to where I live, I have nearly 20 years no claims, clean license, no accidents but still struggle to get quotes under £1k for my 25 year old lexus.  Really not looking forward to renewal time later this year.

It's starting to look like a blanket rise in risk for all Lexus models regardless of whether they are affected by the CANBUS hack... 

[Bluemarlin]

14 minutes ago, wharfhouse said:

It's starting to look like a blanket rise in risk for all Lexus models regardless of whether they are affected by the CANBUS hack... 

I think it's part of a blanket rise that's occuring in all products and services. Whether it be cable providers, mobile phone companies,  energy suppliers, supermarkets or insurance companies; all have been hiking up their prices with tales of woe about covid, Ukraine, or whatever reason they need to raise prices. We're told we need to tighten our belts and expect these rises due to rising costs, and yet many of these companies are making record profits.

I think in many cases they're just pushing prices up to see how far they can go before people wont pay it.

[wharfhouse]

5 minutes ago, Bluemarlin said:

I think it's part of a blanket rise that's occuring in all products and services. Whether it be cable providers, mobile phone companies,  energy suppliers, supermarkets or insurance companies; all have been hiking up their prices with tales of woe about covid, Ukraine, or whatever reason they need to raise prices. We're told we need to tighten our belts and expect these rises due to rising costs, and yet many of these companies are making record profits.

I think in many cases they're just pushing prices up to see how far they can go before people wont pay it.

Some of the rise is general inflation, but we are seeing very large increases on many Lexus premiums (much more then inflation of even the higher rise of the insurance industry as a whole) whereas those of us who also insure some other marques are not seeing the same rises for them. Let's hope that Lexus get the thefts under control otherwise sales will start to suffer if premiums continue to rise.

[Bluemarlin]

2 minutes ago, wharfhouse said:

Some of the rise is general inflation, but we are seeing very large increases on many Lexus premiums (much more then inflation of even the higher rise of the insurance industry as a whole) whereas those of us who also insure some other marques are not seeing the same rises for them. Let's hope that Lexus get the thefts under control otherwise sales will start to suffer if premiums continue to rise.

And in many cases it's just an excuse Phil. Substantial premium increases are being put on some owners with models that aren't affected by increased theft. It's not like insurance companies don't know what models/years are most affected, as they have data analysis and risk profiling down to a fine art. To increase premiums on Lexus across the board is just taking advantage.

Sure, there's a general rise in inflation, but price increases are not only often way beyond that, but are in turn adding even more to inflation.

To be honest, one of the biggest problems with insurance is the cost of courtesy cars. Last time I needed one, the third party insurer was billed £800 a day for 10 days hire, which was more than twice the cost of the repairs. I think they should do away with like for like loan cars, and just have a standard car for £50 a day maximum.

[wharfhouse]

18 minutes ago, Bluemarlin said:

And in many cases it's just an excuse Phil. Substantial premium increases are being put on some owners with models that aren't affected by increased theft. It's not like insurance companies don't know what models/years are most affected, as they have data analysis and risk profiling down to a fine art. To increase premiums on Lexus across the board is just taking advantage.

Sure, there's a general rise in inflation, but price increases are not only often way beyond that, but are in turn adding even more to inflation.

To be honest, one of the biggest problems with insurance is the cost of courtesy cars. Last time I needed one, the third party insurer was billed £800 a day for 10 days hire, which was more than twice the cost of the repairs. I think they should do away with like for like loan cars, and just have a standard car for £50 a day maximum.

Yes, agreed, definitely some of it is an excuse to fleece motorists who aren't directly affected (as in my case as it was manufactured before the CANBUS changes that made later model susceptible. On the courtesy cars then difficult one - I had an accident with my IS 300h (6 years ago) that wasn't my fault. It took 6 weeks for the repair due to getting parts and I was loaned a Mercedes Benz C Class by the 3rd party insurance at fault. I didn't really need like for like for much of the time, just any reasonable size four door saloon, though I guess a lot of people think why should they be without like-for-like for a no-fault accident. Not sure what the cost of the courtesy car was but wouldn't have been small...!

[Carriage Return]

30% I would expect

50% is difficult to stomach

100% is unacceptable

[Bluemarlin]

5 hours ago, wharfhouse said:

Yes, agreed, definitely some of it is an excuse to fleece motorists who aren't directly affected (as in my case as it was manufactured before the CANBUS changes that made later model susceptible. On the courtesy cars then difficult one - I had an accident with my IS 300h (6 years ago) that wasn't my fault. It took 6 weeks for the repair due to getting parts and I was loaned a Mercedes Benz C Class by the 3rd party insurance at fault. I didn't really need like for like for much of the time, just any reasonable size four door saloon, though I guess a lot of people think why should they be without like-for-like for a no-fault accident. Not sure what the cost of the courtesy car was but wouldn't have been small...!

It is a tough one Phil, as some people choose to pay for like for like because they want the same standard of car if they're going to be without for a while. I can fully understand that, especially if the accident wasn't their fault. The trouble is, not only do they charge the third pary insurer way over the top for the loan car, but that cost is then reflected in everyone else's premiums.

I don't know the solution, except perhaps charging a lot more more for the "like for like" option, so that that premium covers the cost, instead of aggregating it over everyone, as currently it doesn't cost much to have it. At least that way people can choose whether to pay a realistic price for it, or opt to take a standard replacement for the duration.

I think the reason they don't do that is that they know most people would opt out if it was a more realistic cost, which would reduce not only premium revenues, but the opportunity to charge high prices for rentals. Maybe I'm just being cynical though.

[rayaans]

I suppose its no different to a 6 pack of walkers crisps

used to be about £1:20 on average could even get it for a £1 in some places. Now its around £1.95! 

[diabolik]

Funny reading some of the comments saying its a Lexus thing. You are on a Lexus forum, what do you expect?

In the last couple of months I noticed some of my colleagues complaining about insurance hikes.

The few I can remember is an ID3 from 600 to 1100. A Toyota Yaris '14 with a 30% increase and I have also simulated a new quote (CT'14) and it does raise from 440 to 620.

All car parts are going up and so the price of the cars, automatically this leads to an increase of repair prices and here we are with an increase in insurance prices.

Inflation hits all aboard. Quiet times = predictibility = low prices.

There's war in Ukraine, global inflation and Brexit, what should we expect prices going down? Its gonna be fun when visa checks (travel) will come later this year and % tariffs from EU goods.

[VFR]

Just had my renewal from LV and that had increased by £300.

Called them and with a bit of tinkering knocked just over £100 off that but it is becoming clear that things are changing from what we are all used to where no claims & solid background / payers would simply expect the premiums to drop year by year (as they used to)

This thread on PH goes some way to explaining why ………….. https://www.pistonheads.com/gassing/topic.asp?h=0&f=10&t=1888922

 

 

What “may” be coming ?

Yes I need to insure my car.

Do you intend to drive it Sir ?

Well it had crossed my mind. 

Oh now that will really increase your premium “and” should an accident occur you will be liable for a £10.000 excess even with our fully comprehensive gold plated 5 star platinum award winning policy (terms & conditions apply)

 

[Gary H]

It’s rather worrying, isn’t it? I’m due to swap my UX for an NX sometime in September (I hope...). Towards the start of the year when I phoned my insurer to get a rough idea of how much extra I’ll be paying, I was told I would be looking in the region of £100 more. Obviously without any registration details, there’s only so much they can do in order to give me a rough quote. This was shortly before all the Canbus thefts business really took off. I dread to think what my quote will be now.

I have to say that throughout my clean 21 year driving career, there hasn’t been many years where my renewal premium has been under a 30%-odd rise. A phone call often brings that considerably down - which just goes to show what chancers they are. Not so much now, but there has been several occasions in the past where I’ve had companies try to literally double my premium despite zero changes in circumstances.

[Bluemarlin]

Well my renewal quote arrived from Direct Line. Last year was £570, and this year's quote was £870, with no change in circumstances. Lowest quote from Saga was £2200!

Got a few quotes on comparison sites around the £560-£700 mark, so phoned DL and they reduced to £660. Not ideal, but could have been worse.

[Kaptkremmin]

After hearing all the tales of woe, I don't feel badly done to now paying the £330 fully comp.

[diabolik]

Some interesting info: https://www.confused.com/car-insurance/guides/has-car-insurance-gone-up?utm_medium=email&utm_campaign=newsletter&utm_source=brandawareness&utm_term=20230724&utm_content=july2023newslettermotorrdcv2_012

[steve2006]

Blimey, I don’t know where they got these figures from !
 

According to our survey, car insurance is the third most expensive average household bill, behind:

• Council tax, at £984 (mine £2890)
• Energy bills, at £694 (mine £2400)

[Bluemarlin]

Hopefully it will work itself out over the next year or so. With increases being so high it will force people to shop around and   switch, where previously they swallowed a small increase because they couldn't be bothered to change. If insurance companies lose enough business due to the ridiculous price hikes, then they'll be wary of doing it again.

Some price rises are inevitable, but many companies/indutries seem to be taking advantage of people's willingness to accept increases and are  simply profiteering from it. Whether it's car insuraance, mobile phone bills, cable tv etc, people should challenge every increase and either ask for a reduction or switch.

[beyond the blue]

I wish l had a product that the law says you have to buy!

[Phil xxkr]

On 7/24/2023 at 7:12 PM, steve2006 said:

Blimey, I don’t know where they got these figures from !
 

According to our survey, car insurance is the third most expensive average household bill, behind:

• Council tax, at £984 (mine £2890)
• Energy bills, at £694 (mine £2400)

And don't even mention the household food bill 😱