insurance Help! Insurance renewal price has rocketed over 3x!

[Southern Aston]

Hi all

Apologies that my visits are generally only when I've a problem (had previous RX stolen in October 22)! Headline is my insurance quote with Quotemehappy has increased from c.£1.5k last year to £5.5k to renew later in March...and worse all the comparison sites are £4.5k plus. I was braced for an uplift but am in shock. 

I read the earlier Insurance thread and could see others starting to get the same issues in London in particular, but couldn't see anyone who'd dug themselves out of the problem yet and managed to get a more reasonable price. 

Background is I've a 2018 RX450HL bought in 2022. That was to replace a 2019 RX 450HL I ad stolen in October 22 (classic CANbus routine) and (stupidly) had somehow missed off no claims protection (please don't bury me on that one - terrible mistake and v expensive!). So the £1.5k I'm paying today was already a big bump on the c.£500 I was paying before. 

So with the £4.5k plus quotes I think I'm paying an extra premium here for only 4 years no claims. But if I don't find something cheaper I think I've no choice but to sell as I can't justify these premiums. Frustrating as we love the car, works brilliantly with 2 kids. 

So I am appealing if anyone knows an insurer that is pricing reasonably still on RXs - or is it game over for me? In which case any advice on a suitable non extortionate substitute also welcome!

Thanks everyone

SA

[Spock66]

5 minutes ago, Southern Aston said:

In which case any advice on a suitable non extortionate substitute also welcome!

Mazda CX60 is worth a look I think.

[Tickedon]

NFU Mutual may be worth a call - they still have their own underwriters and very friendly whenever I’ve called.

otherwise, you may want to run a quote for a similar insurance group car. My NX is also extortionate to insure in London -  but an equivalent Audi PHEV was almost identical in price. I know you have the canbus issue in your RX, but, with less NCB and a theft claim, I suspect your quotes for other similar cars may be similarly expensive…

[Southern Aston]

Thank you TickedOn, I very much appreciate the advice. The theft and (at the time) only 3 years no claims were incorporated into my current (soon to expire) premium of £1.5k but perhaps those two issues are compounding the problem if there’s been a spike in prices in this insurance group over the past year. I will try NFU - fingers crossed! Good idea to try similar cars in the insurance group too to understand if it’s RX related. Thanks again! 

[GMB]

 Even the house insurance has gone up by over 35% this year. These companies are taking us for mugs.  When I rang the company to query the increase - after all the customer avoidance tricks and the stupid chatbot, I got a miserable person on the phone who flatly refused to lower the price a bit despite no claims.. BTW Water damage now carries a £500 excess!.   When I again queried her response she told me the reason for the increase is because the price of wood has gone up 200%. What a joker. How does a possible water leak repair depend on the price of wood and carry a £500 excess? Needless to say I went elsewhere.

I just hope that this insurance con comes to an end at some point in the future and these cheapskate robber companies go bust.

[Frank the Hornet]

Try Adrian Flusk, I had ridiculous increases on renewal, not much better on comparison sights, appreciate mine is a Gen 3 RX, they managed to beat the comparison sites both on price and excess with legal expenses included FOC.

The staff at AF can have an influence on price when you speak via phone, interestingly I was told that using a broker like AF they are some 3 months behind the market on increases.

On maybe a not such a crucial point, they have a good tech offering eg getting NCB proof and online servicing , which was one of the reasons putting me off a broker for the last 20 odd years.It has been relatively painless exercise.

Perhaps this year I have just lucky but a quick phone call probably a good investment of time.

 

[Danny Cowell]

My Insurance is up for renewal on the 17th of March .I tried Adrian Flux. Waste of time quote was over £10K 

Co compare were around £3K

[Southern Aston]

Yes I had 12k from Adrian Flux, but appreciate the suggestion Frank, was worth a try 

[GMB]

I know that these RX cars are very attractive and apparently one would need to be relatively well off to be able to afford a newish one, but £10K and £12K insurance every year surely makes the unaffordable?  I heard on this site at least one person saying that they will have to get rid....

[Malc1]

Phone Chris Knott    Broker. Very professional and will do their best for you 

Malc 

[H3XME]

Try calling some insurers that aren't coming up online. I find online quotes at £1100 minimum, yet my telephone quotes are sub £500. MAZDA CX-60 definitely a very good candidate. The 3.3l hybrid engines in them are super smooth & efficient. Check them out. 

[Southern Aston]

Thanks @Malc1 I will try Chris as well

@H3XME thanks - I will be starting the direct ring around today as well. Thanks for the further recommendation on the Mazda, will take a good look this weekend. 

[Spock66]

Make sure you try several of the comparison sites as well, I found significant differences in the prices for the same company & policy.

[DAN@ADRIAN FLUX]

Hi.

I'm sorry we were unable to offer you a competitive insurance quote.

Regards,

Dan.

[Sybaris]

On 2/26/2024 at 4:09 PM, Southern Aston said:

Yes I had 12k from Adrian Flux, but appreciate the suggestion Frank, was worth a try 

Thats the highest I have heard of yet

[LenT]

On 2/27/2024 at 8:22 AM, Southern Aston said:

I will be starting the direct ring around today as well.

Just a thought - and it’s not something I’ve tried myself - but if you bought your Lexus off a Lexus Dealer, have you called them and asked about who they might recommend for Insurance?

If you make the case that exorbitant insurance rates due to a vulnerability to theft has made their cars unviable and you are going to have to exchange it for a more secure make from a different Dealer, it may prompt them to find a solution to a problem that’s threatening their customer base.

I can’t recall if Lexus offers anything other than a Gap Insurance but I seem to recall that other Makes may be doing so - for RangeRovers I believe.