Insurance quotes are a joke. What am I doing wrong?

I love when your mid policy and change your car they screw u over big time as they know if your 6 months into a policy your unlikely to cancel. I change my car every 12 months and just got a nice £45 admin fee for the change.
I bought a Focus ST which is group 16 the same as my previous ST220 but even though I only have 6 months left on the 1k 12 month policy they wanted another £190 ontop to cover me the last 6 months :eek::mad:. And as I had to insure it there and then to drive 100 miles home I had no choice.
 
Group doesn't tell the whole story, though. The Focus is much likely to have a worse insurance history than the ST220 (more of them, more negligent owners, more of them binned), hence some of the hike.*

*That's all an assumption, but you get the drift.
 
A lot of people seems to be missing the point that car insurance is an incredibly competitive industry, with very slim margins. Insurance companies aren't poor, but little of the profit comes from cars. The reason your insurance is expensive is not because they are trying it on, but because actuary tables say that people like you cost people like them a lot of money. Third-party claims in particular can be massive. If they could afford to cut premiums they would, because they'd get more customers. But they aren't going to insure cars as a loss leader.
 
Meridian said:
A lot of people seems to be missing the point that car insurance is an incredibly competitive industry, with very slim margins. Insurance companies aren't poor, but little of the profit comes from cars. The reason your insurance is expensive is not because they are trying it on, but because actuary tables say that people like you cost people like them a lot of money. Third-party claims in particular can be massive. If they could afford to cut premiums they would, because they'd get more customers. But they aren't going to insure cars as a loss leader.
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We get all this, but it's debatable.

My insurers for example, quoted £550 for renewal, a £200 rise on last years premium, wouldn't budge until I presented a quote via a comparison site for the same level of cover, no excess, ncb etc for £300 and they gladly matched it!
I'm assuming they didn't do that just to retain my business and thus would still be making a profit on the £300 policy, just not as much profit on the quoted renewal price (£550) that initially they said they couldn't budge on.

They try it on and make a killing on those who auto renew or don't use comparison sites.

The sooner this industry is thoroughly reviewed and overhauled, the better.
 
Dav4 said:
I love when your mid policy and change your car they screw u over big time as they know if your 6 months into a policy your unlikely to cancel. I change my car every 12 months and just got a nice £45 admin fee for the change.
I bought a Focus ST which is group 16 the same as my previous ST220 but even though I only have 6 months left on the 1k 12 month policy they wanted another £190 ontop to cover me the last 6 months :eek::mad:. And as I had to insure it there and then to drive 100 miles home I had no choice.
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Tbh, I find the reverse, changing from my 325i to 530i mid policy was barely no different bar the admin fee, but they jumped the renewal quote up by £200 because I had changed to a higher risk car (their words) how an e39 530i is higher risk than an e46 325i and the respective demographic of drivers of each type as you allude to I don't know!
 
Scania said:
We get all this, but it's debatable.

My insurers for example, quoted £550 for renewal, a £200 rise on last years premium, wouldn't budge until I presented a quote via a comparison site for the same level of cover, no excess, ncb etc for £300 and they gladly matched it!
I'm assuming they didn't do that just to retain my business and thus would still be making a profit on the £300 policy, just not as much profit on the quoted renewal price (£550) that initially they said they couldn't budge on.

They try it on and make a killing on those who auto renew or don't use comparison sites.

The sooner this industry is thoroughly reviewed and overhauled, the better.
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Hopefully not.

If they overhaul the industry and force insurers to offer their best possible price all the time, those of us who shop around, who haggle, will wind up paying more. I'd rather not pay more because some people are too lazy to shop around.

The industry works fine as it is. In every aspect of life, there are those who are money savvy and those who aren't. Those who aren't either need to make peace with that or start learning to play the game.
 
Drive a classic. Insured the Dodge not so long ago for around £220. Unlimited mileage, basically free with regards to modifications, no NCB used and two other named drivers. 29, postcode that's not usually on fire.

IMG_7055.jpg


Onwards! :D
 
Lashout_UK said:
Drive a classic. Insured the Dodge not so long ago for around £220. Unlimited mileage, basically free with regards to modifications, no NCB used and two other named drivers. 29, postcode that's not usually on fire.

Onwards! :D
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All you need now is road legal plates ;)
 
Always loved the general lee :D

My quotes for a £7000 VW polo 1.2l is around £1300 per year :( Moved from Australia late last year just swapped over my license but don't have an EU driving record.

Basically my 20 year perfect Rating A driving record means squat even though we have the same insurance companies and they could easily get my record.
 
Just enquires to see what it would cost to add my 18yr old daughter to my 530i policy as a named driver....

£6200 :eek: :p

Maybe not then......... :o :D
 
Scania said:
Just enquires to see what it would cost to add my 18yr old daughter to my 530i policy as a named driver....

£6200 :eek: :p

Maybe not then......... :o :D
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Ouch. I had a quote of £4.5k on a modified Mondeo when I was 17, thought that would take some beating!
 
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