Insane insurance quotes for Lexus NX450 in London

edgahan · August 28

Hi all,

I've been looking to lease a new Lexus NX450 premium (not F-sport, etc) and I was about to pull the trigger for getting one in Sept but decided to get some insurance quotes (w/o registration numbers).
These are coming out at 2-3k per year! I've tried a couple of comparison sites and independents.
I don't get it - for some context I currently lease a Volvo XC40, which doesn't have as high of an MSRP however it's ~£500 per year.
It's just me (38 year old) and my wife (47 years old), I've had a license since 2012, she's had it since 1995. Using the car for ~4k miles a year for leisure/social. I've got 11 years no claims she had a relatively minor accident in 2021 (~£1.5K payout to third party). I'm putting myself as the primary (which is what we have now) but maybe I should switch it?
I saw some posts on here where people have normal annual fees, what am I doing wrong? Is it my postcode possibly? (Ruislip, London).

E

PaulWhitt20 · August 28

Hi, welcome to the forum.
Unfortunately it’s where you live. Lexus are a theft magnet in the london area. See posts regarding Can Bus thefts.
Regards

Paul

BonzoSPB · August 28

It isn't just London. The renewal for my NX450h was an extra £300 from last year (£500 to £800) and I live in a small market town in the north with no car crime AFAIK.

As a comparison, and this has been checked, I can insure a Jaguar F-Type, Audi S3 or BMW 340i for £400 less. It's crazy and what I'm saving in fuel costs is being blown away by the insurance (and servicing) costs.

Terry1956 · August 28

I have a Lexus nx350h, I live in Somerset. The insurance was £260 more than my Skoda kodiag. My wife’s new Mazda mx5 was £80 cheaper to insure over her 2009 mx5.
we rang our insurance company up on buying the Lexus to swap cover, they wanted £1200 more. So we cancelled it. Went on line and got the same cover with the same company for £680. They are just making prices up as they go along. It’s now just a total rip off like most things in the U.K. these days.

ColinBarber · August 28

2 hours ago, edgahan said:

(w/o registration numbers)

Try using a reg number from the Lexus used car section of their website to see if that makes any difference. Some insurance companies do inflate premiums if you don't have the reg number.

edgahan · August 28

18 minutes ago, ColinBarber said:

Try using a reg number from the Lexus used car section of their website to see if that makes any difference. Some insurance companies do inflate premiums if you don't have the reg number.

Thanks for the tip - I tried this and ultimately had similar results.

That said I've managed to get get a ~£1000 quote which is a better place than than the £2K - £2.9K I was getting initially.
For what it's worth the Lexus insurance itself was coming out at ~£1.5k-£1.8K.

Tickedon · August 28

It’s all about insurance groups. XC40 sits in group 18 to 33 depending on the exact model. NX 450h+ is 38 to 43 (out of 50). It’s a bigger, heavier, more expensive car.

Comparing to an equivalent, e.g. Audi Q5 PHEV, in a similar group my insurance prices were very similar (and still very expensive!).

Frank the Hornet · August 28

Ed,

i'm in HA4 too, my RX i have similar issues, outlandish premiums £2k plus or half of that with less known insurers, a complete surprise was Adrian Flux maybe worth trying them mentioning the Lexus Owners Club.

edgahan · August 28

12 minutes ago, Frank the Hornet said:

Ed,

i'm in HA4 too, my RX i have similar issues, outlandish premiums £2k plus or half of that with less known insurers, a complete surprise was Adrian Flux maybe worth trying them mentioning the Lexus Owners Club.

I tried Adrian and for some reason they where one of the highest at 2.9k 😞

Worth also saying I put in some different postcodes (like Coulsdon and Purley CR8 in Surrey/Croydon and Reading areas) and they came up even higher. So I guess it wasn't 100% due to Ruislip.

stepppy · August 28

35 minutes ago, edgahan said:

I tried Adrian and for some reason they where one of the highest at 2.9k 😞

Worth also saying I put in some different postcodes (like Coulsdon and Purley CR8 in Surrey/Croydon and Reading areas) and they came up even higher. So I guess it wasn't 100% due to Ruislip.

I tried Adrian Flux too and they were over double the highest quote. I ended up going with Admiral Gold at only around £100 more than my last years premium on my Prius, so pretty happy.

Mine is a 350h though and I live in Hampshire.

Saxacat · August 29

I guess its the postcode. I live in Northumberland (NE postcode) and pay less than £600pa (it actually went down from my RAV4 insurance!!).

Insured with NFU (used to be LV but their last renewal was quite high). I lease the same model you're looking at; only 1 driver on policy; I'm an older driver (69); full no claims; car is insured to be parked on driveway; £450 excess with another £300 voluntary excess.

Aviva gave me a lower quote, but went with NFU as they have a local office.

Al D-Much · August 30

Insurances and the companies that provide them are chancing it in these uncertain times.
Last year I was with the AA for a 2020 NX300h cost around £750 3 years no claims etc. Their renewal price came in at £1850!
Went to Churchill, got better cover and T&Cs for £600.

WhiteHart · August 30

On 8/28/2024 at 1:38 PM, edgahan said:

For what it's worth the Lexus insurance itself was coming out at ~£1.5k-£1.8K.

I found Lexus insurance to funny to bother with. The canbus problem was sort on the 450 and I had a ghost fitted and still the prices went through the roof. It is a very expensive car, but if you can afford to buy it You should be able to afford to be ripped off by the insurance companies. Always try to insure your car at least 28 days before you need it.

RONNIE W HODGEKINSON · August 30

On 8/28/2024 at 12:58 PM, Terry1956 said:

I have a Lexus nx350h, I live in Somerset. The insurance was £260 more than my Skoda kodiag. My wife’s new Mazda mx5 was £80 cheaper to insure over her 2009 mx5.
we rang our insurance company up on buying the Lexus to swap cover, they wanted £1200 more. So we cancelled it. Went on line and got the same cover with the same company for £680. They are just making prices up as they go along. It’s now just a total rip off like most things in the U.K. these days.

Thats ALWAYS been The Case With Car Insurance For Years Michael..Car Insurance like every other Insurance Is a Lottery Remember we live in RIP OFF Britain Unfortunately

Terry1956 · August 30

We sure do now. However it was not always this way.

RONNIE W HODGEKINSON · August 30

On 8/28/2024 at 8:22 PM, stepppy said:

I tried Adrian Flux too and they were over double the highest quote. I ended up going with Admiral Gold at only around £100 more than my last years premium on my Prius, so pretty happy.

Mine is a 350h though and I live in Hampshire.

That,s Pretty Good Stephen Can,t argue with that Quote Compared with what other people are paying...!!!

Eggie · August 31

I have just received my renewal today from NFU. Still recovering from the shock. Last year it was £654. This year they want £1199. Many years NCB no convictions yet premium practically doubled. Getting ridiculous.

GEN · August 31

Back in the States insurance was described (jokingly but?) as a "license to print money"! 😂😭

WhiteHart · September 1

21 hours ago, GEN said:

as a "license to print money"! 😂😭

It certainly is and no government has ever tried to help the public on the much higher than inflation increases. Taxes from the state and rip offs from the businesses. Insurance is just legal theft. Stay happy.

First_Lexus · September 1

I ‘got away with’ c£650 insurance cost for my 2021 RX450h this year, but was only paying c£300 annually when I got it. That’s low annual mileage, 18 years NCB but living in the Reading area ie South East. Worth trying Chris Knott Insurance as I did, they were competitive. Even so, a ‘Compare the Market’ quote is showing the renewal well into four figures next year…

That said, I’ll have my new 2024 Toyota CH-R 1.8 Excel Hybrid by the end of September. Insurance cost for that? Even with Aviva, Admiral, Direct Line etc. it’s down below £300 annually, with a best price (Admiral Essentials) of £257, although the level of cover isn’t what I’d go for personally. That’s more like it, albeit a much smaller, cheaper and less powerful car. No big voluntary or compulsory excesses either, only £100-200 total on pretty much every quote.

DAN@ADRIAN FLUX · September 2

On 8/28/2024 at 7:43 PM, edgahan said:

I tried Adrian and for some reason they where one of the highest at 2.9k 😞

Worth also saying I put in some different postcodes (like Coulsdon and Purley CR8 in Surrey/Croydon and Reading areas) and they came up even higher. So I guess it wasn't 100% due to Ruislip.

Hi.

I'm sorry we were unable to offer you a competitive insurance quotation but thanks for giving us a try,

Regards,

Dan.

steve2006 · September 2

Go on then Dan give us the insider information as to why insurance premiums have gone through the roof?

GEN · September 2

Would also be grateful for an explanation as to why after you reach 9 years NCB they stop counting!? As though the additional 10 years are not worth anything...

GEN · September 2

The answers I would suggest:

They do it because they can and it is beneficial to them....

BonzoSPB · September 3

12 hours ago, steve2006 said:

Go on then Dan give us the insider information as to why insurance premiums have gone through the roof?

One insurer told me that the main issue was the rising costs of spare parts which I'd have believed if the insurance costs for similarly priced cars i.e.: BMW, Audi and Mercedes, was the same for my NX450h - they weren't. Also, many of the BMW, Audi and Mercedes models I'd looked into were more powerful performancewise which I'd have expected to have impacted the insurance cost.

So, unless the costs of parts for Lexus models has rocketed for some reason I feel I'm being ripped off.