LC500 insurance

[Brian R]

Name and glorify...

[wendle]

£890 last year with £1200 excess, same company wanted £1550 this year

comparison site got this year £666 with £600 excess ( Admiral )

[Brian R]

17 hours ago, wendle said:

£890 last year with £1200 excess, same company wanted £1550 this year

comparison site got this year £666 with £600 excess ( Admiral )

Curiously, I was with Darwin on 2 off independently insured cars (including the LC) and prices more than doubled on the previous year. Obviously I moved on but my wife has also just received her renewal quote from Darwin which also doubled and she too has moved on.

The point is, why are some insurers doubling their premiums when anybody with half an ounce of sense will tell them where to shove it. Darwin has now lost 3 policies and my view is as ever that insurance is run by spivs in suits, always been the case and even more so now.

[Boomer54]

18 hours ago, wendle said:

£890 last year with £1200 excess, same company wanted £1550 this year

comparison site got this year £666 with £600 excess ( Admiral )

As you found it pays to shop around, because apathy is expensive.

[Boomer54]

Not even just car insurance. Daughters pet insurance just leaped 92% year on year. 10 mins work I found her a policy 40% cheaper than last year never mind this years ridiculous premium renewal. Moreover, it was exactly like for like on all the important criteria.

[Malc1]

All household and individuals paid for “ risk “ insurance cover is oft provided by Insurance Companies and Brokers and Lloyds Underwriters …….. and they’re simply owned by shareholders, finance institutions and banks and “ big “ corporate names / Investors including wealthy individuals, say Emirate oil names ………but reinvesting in some UK assets too, Abu Dhabi say owning the Excel Centre et al 

AND their purpose in life is simply to take as much dividend from wherever it’s possible in as harmless a way as possible too ……. in the UK market anyway 🤔

BUT their purpose in life is to extract profit where and how they can ……. they ain’t Charities for sure 

So, some 26million cars on UK roads offers huge opportunity to extract lots of spondoolies at every turn 

I really don’t think they’re too interested in competing against each other tbh 

So annual insurance premium rises will follow as night follows day 

With Pet insurance however, well, it might be there’s a formal regd charity there somewhere that offers this product 🤔🤔🤔

Malc 

[Malc1]

There is of course a tiny loophole to all this car insurance mullarkey …… one can self-insure ( or used to be able to ) but of course subject to some major wealth criteria …….. I’ve never explored this but it used to be times past Bonding @ £50k under some Scheme or other 

Not for the faint hearted I’m sure but might be worth exploring if you’re of a mind to and deep pockets 

Malc 

[Arth_Vader]

Wasn’t sure about where to post this as there are so many threads about canbus, exorbitant insurance and Lexus starting to fit trackers.

I went on confused last night and the updated quotes had some interesting new assumptions that I had to agree or disagree with - one such assumption was a tracker is installed.  
 

My car is getting serviced in the next month and I’ve just specifically asked to have the Lexus tracker installed at next service, which is just before insurance runs out.  

I’m waiting to hear back.

Assuming this is done my insurance is going to go down about 30-40% since last year.

Finally there is hope.

 

[Arth_Vader]

Lexus Hatfield have now confirmed they are fitting the tracker free of charge along with the service.  Originally they asked me if I had received an email on the subject but I outlined my case and they’ve added it to the work.

[eightk]

1 hour ago, Arth_Vader said:

Lexus Hatfield have now confirmed they are fitting the tracker free of charge along with the service.  Originally they asked me if I had received an email on the subject but I outlined my case and they’ve added it to the work.

You should be offered a free cat s7 tracker plus three years free monitoring contract. There’s also an OBD geofence device that is offered. Cat s7 allows the tracker company to track the car if it is stolen… the OBD device alerts you to the theft as far as I can make out.

[RONNIE W HODGEKINSON]

On 9/7/2023 at 10:31 PM, eightk said:

Cost of parts, risk of theft - I had to get a tracker to get insurance, plus everybody is seeing higher premiums probably because the FCA stopped the practice of new customers being offered better deals than long term customers. Meddling in a free market caused by politicians again and look what happens.

I’m with classicline on a modern classic policy because I’ve been with them for years, only downside is no NCB accrual so I only gain NCB on my other car.

Alloy insurance - they’ll take your money if you want them to but it’s only £200-300 per claim from memory, which on an LC won’t be anywhere near enough - my supplying dealer was honest and said it just wasn’t worth doing.

And finally Lexus insurance should insure Lexus cars. No argument.

They will give you a quote But I found them Quite Expensive..!!!! car insurance is a complete lottery has been for many Years.

[Paul29bit]

I can now add my 2p worth to this thread.  I got the 2017 LC500 Sport + with ML and HUD insured fully comp with protected bonus for 7k miles a year for both me as main driver and my spouse as named driver for around £530 for the year.  No tracker or other such nonsense. I have full NCB, clean licence and I am 52. 

[Brian R]

3 hours ago, Paul29bit said:

I can now add my 2p worth to this thread.  I got the 2017 LC500 Sport + with ML and HUD insured fully comp with protected bonus for 7k miles a year for both me as main driver and my spouse as named driver for around £530 for the year.  No tracker or other such nonsense. I have full NCB, clean licence and I am 52. 

Can I steal your identity, Paul?

[eightk]

On 9/3/2024 at 2:13 PM, Arth_Vader said:

Wasn’t sure about where to post this as there are so many threads about canbus, exorbitant insurance and Lexus starting to fit trackers.

I went on confused last night and the updated quotes had some interesting new assumptions that I had to agree or disagree with - one such assumption was a tracker is installed.  
 

My car is getting serviced in the next month and I’ve just specifically asked to have the Lexus tracker installed at next service, which is just before insurance runs out.  

I’m waiting to hear back.

Assuming this is done my insurance is going to go down about 30-40% since last year.

Finally there is hope.

 

Just spotted this. Do check the Lexus cat s7 is acceptable to the insurers. Mine needed a cat s5 which is more expensive.

[Paul29bit]

Well my tale took a twist this morning when I went back to my insurers to 'turn on' the cover as I am expecting to go collect the car on Saturday.  They said that they would need to refresh the cover and when they did, guess what, they could no longer offer me cover for the LC.  I won't bore you all with the 1 hour conversation across many apparently senior tele operators but in the end I had to just accept this.  I have multicar insurance with them on other cars.  Not impressed at all and so I had to go to finemesomebloodyinsurance.com and start the normal search for the LC.  I did get a quote which was fairly good from another company and so until renewal time I will just keep the LC separate.

I have no clue why they basically lied to get out of insuring it but it was fairly obvious that they were using excuses to skate around whatever issue they had.  Could it have been the Can Bus issue?

 

[Malc1]

Maybe they’ve decided you’re a BoyRacer after all ?? 

Which was the errant insurance coy ? 

Malc 

[RONNIE W HODGEKINSON]

On 9/7/2023 at 1:47 PM, Gt3hopeful said:

Thanks for replies . Best quote I have is £850 but company gets very poor reviews so think I will contact Admiral to see if they can improve offer.  Did try Privilege, LV and Lexus own Insurance but all of these would not offer cover . I live in low crime area, no convictions or accidents and 18 years no claims so can only think its a problem with LC500? Could it be that insurers have seen the price of replacement parts - I guess its telling that Lexus will not even offer alloy wheel insurance when you buy it.

Have you tried Darwin Part of the Direct line Group.. Heard they were quite Good and Reasonable I Am With Aviva Only Cost £5 per Month more than the previous Year..Tried the obvious sites.. go Compare Confused.com Money supermarket.com Remember insurance Quotes are like the stock Market They change Daily... Watch out for the Sooty and Sweep Companies..

[Malc1]

I seemed to have had a good rapport with Sterling Insurance this time around ............... and last year too but with my 91 classic Ls400

Who knows eh !  it's all a lottery 😂

Malc

[Paul29bit]

Just for some clarity (although it most likely does not matter for each individual) my previous insurer and still the insurer of my other family cars is Hastings Direct, the insurer I found for the LC to be best cover/value (not actually the least expensive) was Admiral.  Both prices were similar and within £30 of each other but for some reason Hastings basically withdrew their offer.

[Ruffle]

FWIW, I'm hearing tales of Hastings Direct declining to renew cover for other people... so maybe it's not you but them.