Insurance

[Bill Dawes]

Anyone had to renew insurance lately, mine due next week and it's gone up by a factor of 2.7. Had heard about massive increases due but still a shock.

Bill D.

[fourbanks]

37 minutes ago, Bill Dawes said:

Anyone had to renew insurance lately, mine due next week and it's gone up by a factor of 2.7. Had heard about massive increases due but still a shock.

Bill D.

The renewal bill should be around £450 in Sussex with a £600 excess to pay. That is what I paid to Lexus for my yearly insurance 

[Bezzer]

Just had renewal from £208 to £280  with Aviva, no one comes close when checking everyone else. From £400 up to Direct Line who want £900 😲and this was the optimum 21 days before renewal. Guess who we're going with? 😋

Quote

 

[Bill Dawes]

Feeling hard done by at my recent insurance hike from just under £300 to over £800 I spoke to a friend of mone who has a Toyota RAV4, (2022 same as my UX) his renewal was £1950.

Bill D.

[Tickedon]

1 hour ago, Bill Dawes said:

Feeling hard done by at my recent insurance hike from just under £300 to over £800 I spoke to a friend of mone who has a Toyota RAV4, (2022 same as my UX) his renewal was £1950.

Bill D.

Lexus is now the most stolen car brand (as a percentage of cars on the road).

https://mag.lexus.co.uk/lexus-uk-statement-on-vehicle-theft/?fbclid=IwAR2u1DC_0mAo4_kSpK_1FLViLNyHJq0nAKctwfXCMxQi1CwuNiGBA10yY0w_aem_ATXzc0mSafM1xX72JZyfSo-7KpoTKXtkPQjmf6ToRhjQ_4GsDaGMH6Nf5ACoFWEW2pE

Toyota cars have a similar issue, and non-PHEV RAV4s are apparently vulnerable too (unlike the 2022+ NXs).

[PDM]

1 hour ago, Tickedon said:

Lexus is now the most stolen car brand (as a percentage of cars on the road).

https://mag.lexus.co.uk/lexus-uk-statement-on-vehicle-theft/?fbclid=IwAR2u1DC_0mAo4_kSpK_1FLViLNyHJq0nAKctwfXCMxQi1CwuNiGBA10yY0w_aem_ATXzc0mSafM1xX72JZyfSo-7KpoTKXtkPQjmf6ToRhjQ_4GsDaGMH6Nf5ACoFWEW2pE

Toyota cars have a similar issue, and non-PHEV RAV4s are apparently vulnerable too (unlike the 2022+ NXs).

Interesting that all the user comments and Lexus replies from that Lexus magazine web page have gone missing!

[my quest]

My multi-car renewal quote from LV has just gone up by 40%... 😞

The UX250h element went up by +80% compared to +22% for each of the other 2 cars.

Nothing had changed - no claims, no convictions; just no claims bonus increased by a year and cars all a year older...

So I thought I'd shop around with multi-car providers I'd used before.

Admiral wanted +52% more than LV!!

Aviva wouldn't cover... despite emailing me and inviting me to get a quote!

We need these security upgrades - and insurers need to know they are fitted!

 

[fourbanks]

Saga has just quoted me £1000 which is more than double I am paying at the moment with Lexus insurance £450 

so be careful if you're due like me to renew. I haven't yet had my renewal come through from Lexus but will let you know when it does. 

I should add I have the maximum NCD and 50 years of clean driving 

[Sundance]

19 hours ago, fourbanks said:

Saga has just quoted me £1000 which is more than double I am paying at the moment with Lexus insurance £450 

so be careful if you're due like me to renew. I haven't yet had my renewal come through from Lexus but will let you know when it does. 

I should add I have the maximum NCD and 50 years of clean driving 

Whatever the make, model, area or usage it is sad but true that NCD and 'clean driving' seems not to contribute to premium calculation as much as it used to.  In fact Nick, as it appears you must be in or near your 70s, your age will have begun to influence your premium now ... and certainly not to your advantage!

[fourbanks]

20 hours ago, fourbanks said:

Saga has just quoted me £1000 which is more than double I am paying at the moment with Lexus insurance £450 

so be careful if you're due like me to renew. I haven't yet had my renewal come through from Lexus but will let you know when it does. 

I should add I have the maximum NCD and 50 years of clean driving 

Good news. The quote from Lexus was for £515 so just a small increase from last year 😃

[RONNIE W HODGEKINSON]

On 2/16/2024 at 2:24 PM, Bill Dawes said:

Anyone had to renew insurance lately, mine due next week and it's gone up by a factor of 2.7. Had heard about massive increases due but still a shock.

Bill D.

Okay Bill.. Lexus cars Have a higher Risk of being Stolen But ALL cars Are at Risk But does that Give them Licence to Hugely Increase Everybody who Owns a Lexus .Its just another Excusal SCAM To Rip people off ...

[Don C]

A big problem is the amount of uninsured scumbags making off after a bump is growing and growing.   

[Tickedon]

6 hours ago, RONNIE W HODGEKINSON said:

Okay Bill.. Lexus cars Have a higher Risk of being Stolen But ALL cars Are at Risk But does that Give them Licence to Hugely Increase Everybody who Owns a Lexus .Its just another Excusal SCAM To Rip people off And its down to one thing ONLY Pure Unadulterated GREED..!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Lexus were the most stolen car brand in UK 2023. More than 2% of all Lexus cars on the road were stolen.

It’s entirely understandable that insurers will therefore decline to cover them, reducing competition, and both the higher risk and less competition inevitably feeds through to higher prices for consumers.

It’s not a scam - it’s the market working exactly as you’d expect. Overall, insurers were predicted to lose money in 2022 and 2023, and plenty lost rather a lot. https://www.ft.com/content/5dca87fb-1e03-4309-8a4a-01dee4fe4748

[GMB]

The big question is why has insurance gone up so much.

I suggest 2 simple answers ( like it or not )

1   Insurance companies just want to make a load of money and have got together to rip-off the public, 'cos they can.

2  ( probably more fact based as opposed to opinionated )  For many years the Police have refused to investigate burglaries and car theft and they normally just say claim on your insurance, here's your crime number. This has exacerbated the rise in thefts and therefore claims and therefore insurance costs. Plus the crimes are not investigated or solved and continue to rise and increase premiums.

OK you are now free to shoot me down in flames for my opinions.😆

[GSLV6]

It's definitely down to CanBus thefts.  Our other car is much as it was last year and my bikes insurance has actually gone down.  My RX3 renewal was the lowest I've had in 7 years at £320 (with extras, fully comp).  A change to an RX4 saw that jump to £850ish fully comp, but that's cheap compared to what others are paying!  There's meant to be an announcement from Lexus this June or July about a software/hardware fix, other than the steel plate fix with the intention to roll out "fixes" to the CanBus issue.  If it doesn't come, it'll be the last Lexus I'll buy (or Toyota come to that).

[RONNIE W HODGEKINSON]

On 2/16/2024 at 2:24 PM, Bill Dawes said:

Anyone had to renew insurance lately, mine due next week and it's gone up by a factor of 2.7. Had heard about massive increases due but still a shock.

Bill D.

Yesterday Bill And Got A Pleasant Surprise Not Gone up as much as i Thought it Would..!!!!

[Spock66]

I think increasing repair costs and personal injury claims are also a factor in overall price increases.

[my quest]

It may make you smile (or cry) to know that when trying to negotiate down my premium this year, I went through the rigmarole of lowering annual mileages, changing excesses etc, to not much avail. I had the car as being parked on the driveway, but thought it may be cheaper ie less risky, to keep it garaged. Guess what?  Garaging was going to save me a whole £4.72 on the yearly premium!

I kid you not!

[schroder]

52 minutes ago, my quest said:

I had the car as being parked on the driveway, but thought it may be cheaper ie less risky, to keep it garaged. Guess what?  Garaging was going to save me a whole £4.72 on the yearly premium!

I was told parking in a garage was more of a risk than a driveway as you may hit a wall whilst parking!

[Steve]

alot of co's will do excess protection cover, i remember when i had my RX they suggested i bring up my voluntary and comp excess to £600 and then buy excess protection for £30 to cover £500 of excess. I saved a lot more than the cost of the excess protection. Worked at the time for me.

Also, i add family members as named drivers, especially spouse. Saved lots that way.

I have never claimed on insurance in 30 years, nuts!

[Don C]

On 5/31/2024 at 2:37 PM, my quest said:

It may make you smile (or cry) to know that when trying to negotiate down my premium this year, I went through the rigmarole of lowering annual mileages, changing excesses etc, to not much avail. I had the car as being parked on the driveway, but thought it may be cheaper ie less risky, to keep it garaged. Guess what?  Garaging was going to save me a whole £4.72 on the yearly premium!

I kid you not!

I’ve heard that in some cases, parking in a garage is more expensive because a lot get damaged putting it in.