Question about Car insurance differences

muziqaz

muziqaz

muziqaz

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Joined
10 Jul 2009
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1,563
Location
London
Hi,

I am looking into getting an 2016 STI this June, so a week ago I went to confused.com for some rough quotes of what it would cost me to insure it. I put 8k yearly miles with 2k business miles and my quote ended up as £669 per year from Admiral, which is very good, considering I pay around £700-800 for my scirocco now.
But today I done some calculations for my yearly mileage and I adjusted it to 6k per year with business at 1k miles (everything else identical as before). The cheapest they gave me was £690, while Admiral was quoting me with £740 now. Quote from admiral last week was with discount to confused.com users and todays quote was again with discount to confused.com users.

I wonder why such a price swing in a matter of a week?

Thanks in advance
 
I've seen people get different quotes just by changing the day that the insurance starts on.

No doubt if you start on day x you're more likely to have an accident so the premiums go up.

Also have you tried putting the mileage back up? I think one of their criteria is that the more miles you do the better you're likely to be on the road.
 
DBT85 said:
I've seen people get different quotes just by changing the day that the insurance starts on.

No doubt if you start on day x you're more likely to have an accident so the premiums go up.

Also have you tried putting the mileage back up? I think one of their criteria is that the more miles you do the better you're likely to be on the road.
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The thing is that they already know my previous couple of years mileage claims. 1st year I think I claimed I will be driving 15k or so, second year I claimed I drive 9k. And I have my driving license 12 years now, so I doubt less mileage would be factor for them. But I never know, thus asking here ;)
 
All they do is go by raw statistics. Which is why you can sometimes knock £100s of just by picking a different profession.

Theres no one adjusting it for sense :P
 
Nasher said:
All they do is go by raw statistics. Which is why you can sometimes knock £100s of just by picking a different profession.

Theres no one adjusting it for sense :P
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Well, to be honest I am happy to pay for STI up to £800-900 with my no claim, so recent numbers are still encouraging for me ;)
 
iaind said:
It's actually as far away from "random" as you can possibly be, but it does change very regularly
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It seems to be random because it's as close to a black box as you can get for the consumer. I think some transparency here would do worlds of good.
 
Burnsy2023 said:
It seems to be random because it's as close to a black box as you can get for the consumer. I think some transparency here would do worlds of good.
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Very true, although I imagine being transparent without being confusing would be nigh on impossible.

Every insurance thread on here ends up with someone getting caught up in the "why" - as if someone is manually working through quotes making judgements. "It makes no sense that parking on the road is cheaper than the driveway, insurance is therefore stupid".... the vast majority of the public seem to struggle with the concept of statistics, so being more transparent about them would probably only lead to more problems.

Imagine if they picked the 10 most influential factors and listed them on the quote, complete with a percentage change that it made.. that would be pretty cool. But they'd be flooded by swarms of people calling up to call them idiots because adding 2000 miles to the policy should definitely not make it cheaper.
 
iaind said:
Very true, although I imagine being transparent without being confusing would be nigh on impossible.

Every insurance thread on here ends up with someone getting caught up in the "why" - as if someone is manually working through quotes making judgements. "It makes no sense that parking on the road is cheaper than the driveway, insurance is therefore stupid".... the vast majority of the public seem to struggle with the concept of statistics, so being more transparent about them would probably only lead to more problems.

Imagine if they picked the 10 most influential factors and listed them on the quote, complete with a percentage change that it made.. that would be pretty cool. But they'd be flooded by swarms of people calling up to call them idiots because adding 2000 miles to the policy should definitely not make it cheaper.
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When I have time I will try playing around with mileage on confused website to see if there is some sort of relation to what I am being suggested. Afterall I only reduced mileage everything else remained identical. Although I wouldn't call insurance companies stupid because my insurance quote went up instead of down, I still believe my questioning of quotation logic is still sound (in my instance).
If I changed some other things in new quote, I would never questioned it, since multiple factors influence each other giving different results, but this time I change single factor, and result comes out strange.
Also to note, even though I mentioned that Admiral was offering a discount to confused.com users, I never said anything about the discount being the same, since they do not tell me exact discount I am getting. So maybe discount was just for last week only. And this weeks discount could be smaller ;)
 
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