Insurance. All a big con?

For under 21's definately (Not sure about 21+), park your car on the road and its cheaper with most insurers (Wierd right?)

Don't know if that's any use to you at all.
 
I'm paying about £590 for an SLK350 AND a Mk4 Golf on Admiral Multicar.

Dad did a quote for his CLK and they wanted nearly twice what I pay :s

You'd almost think they just make up the quotes ;-)
 
Berger said:
My point was that for comparable cover why is it so high, when one company can offer it so cheap without my no claims being taken into account.
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Different companies have different business models.

Admiral appears to be geared towards younger drivers in fairly common cars, anything modded or less common tends to get let competitive quotes.

Specialist brokers find the best quote for you and know which insurance companies to try first.

Peter Best tends to deal with limited mile policies and with a 5k limit wanted £850 for me, Admiral quoted £520.

If i had a different car, lived in a different area or had a different job they may be rubbish, that's why it pays to shop around.

What does Admiral have to lose by giving a silly quote for business they do not want?

e.g.
(Age + Occupation + Postcode + Claims)>XYZ car - NCB = Quote

(17yo + Used car salesman + Bradford + 20 fault claims)>Car the insurance company is not familiar with/doesn't like - 50% NCB = Quote

If you take the policy, Win. If you don't, No loss.
 
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For the first time in around 10 years I actually stayed with the same insurance company for two years in a row - Admiral again.

Last year they were cheapest and the renewal quote they sent me was also cheaper than anywhere else.
Then I found First Direct guarantee 10% under your quote, so I called Admiral and they knocked off 11% :)

No point saying Admiral are always expensive or always cheap - different quotes for different people.
 
aproctor said:
Different companies have different business models.

Admiral appears to be geared towards younger drivers in fairly common cars, anything modded or less common tends to get let competitive quotes.

Specialist brokers find the best quote for you and know which insurance companies to try first.

Peter Best tends to deal with limited mile policies and with a 5k limit wanted £850 for me, Admiral quoted £520.

If i had a different car, lived in a different area or had a different job they may be rubbish, that's why it pays to shop around.

What does Admiral have to lose by giving a silly quote for business they do not want?

e.g.
(Age + Occupation + Postcode + Claims)>XYZ car - NCB = Quote

(17yo + Used car salesman + Bradford + 20 fault claims)>Car the insurance company is not familiar with/doesn't like - 50% NCB = Quote

If you take the policy, Win. If you don't, No loss.
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Am I over the hill at 25!

If I add a parent to my Admiral policy then it becomes the cheapest of any insurance company on the goconfusedmerecat websites!

Also they tend to give the most reasonable quotes on higher insurance group cars, I know many other members have found the same.
 
rjkoneill said:
i was being quoted £1k on a WRX STI a few days after my 25th birthday in january.
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Um, the new ones?

I can insure a classic import sti for £1.2k (and I'm only 23) (was running a few potential replacement car quotes the other day. £1k for an FD, but an S2k is 1.5k wtf)

But yes, insurance companies do seem to use random number generators when it comes to pricing, as some cars that I consider to be far less of a me crashing backwards in a ditch risk attract really high prices. For instance, things like S2k being more than an FD. A DC2 being the same as an FD to insure, etc.

But one thing you can be sure of is that anything with "skyline" in the name is expensive as hell to insure
 
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Berger said:
If I add a parent to my Admiral policy then it becomes the cheapest of any insurance company on the goconfusedmerecat websites!
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Being cynical I would assume they'd try their damnedest to void your insurance by saying the parent never drove it.
 
always make me laugh with renewal quotes, people always say "they quoted me £100 more" blah blah blah and ring up and complain, but when going through comparison sites people quote £2000+ but peple dont ring up and say why you charging so much. its a renewal offer, so if you dont like it, just shop around its not rocket science to see why its gone up, more uninsured drivers, higher claim costs etc.

main stream insurance companies will always have a set target audience, where as brokers/specialist will be more tailored to certain groups.
 
Telescopi said:
Being cynical I would assume they'd try their damnedest to void your insurance by saying the parent never drove it.
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you can add anyone to your policy because if they are named drivers they would rate upon a policy holder more than the named drivers (unless its a 19 year old on dads policy for example) they take in to consideration that the parents MIGHT driver the car so it wouldnt be fair for them to price their policy just on the policy holder
 
rjkoneill said:
in comparison, my renewal this year on my fiesta was £560 with LV

i was being quoted £1k on a WRX STI a few days after my 25th birthday in january.
my most recent quote on a focus ST was £900

looks like it is time to shop around OP
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I got a quote on a Hawkeye WRX STI back in august last year (22 years old, 5 years ncd) which was around £1300 i believe.
 
rjkoneill said:
in comparison, my renewal this year on my fiesta was £560 with LV

i was being quoted £1k on a WRX STI a few days after my 25th birthday in january.
my most recent quote on a focus ST was £900

looks like it is time to shop around OP
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Funnily enough... admiral were by far the best for me :S less than half the price of competitors... couldn't believe it when they came out with the sum of just under £1150 to insure and Jag XKR with 25k mileage allowance fully comprehensive (albeit the excess is £600)... I'm 23 with 2 years NCB, license for 6 years :S

There's got to be some method in their madness... be damned if I know what it is though!
 
What gets on my wick though is when you phone to cancel due to finding a more competitive price and they can suddenly offer a deal of some sort. At renewal this year I was quoted 475, phoned to cancel as I found a quote for 330 and all of a sudden they could reduce it to 405 as I was a "long standing" customer.
Still cancelled of course.

Oh and why do they need to know the best quote you've been offered so far when you ask for a quote.. just give me your best price!

The business model is :- Real them in and then price them up.
 
peige said:
What gets on my wick though is when you phone to cancel due to finding a more competitive price and they can suddenly offer a deal of some sort. At renewal this year I was quoted 475, phoned to cancel as I found a quote for 330 and all of a sudden they could reduce it to 405 as I was a "long standing" customer.
Still cancelled of course.

Oh and why do they need to know the best quote you've been offered so far when you ask for a quote.. just give me your best price!

The business model is :- Real them in and then price them up.
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1. the prices are automatically generated so they are based upon last years details, even if nothings changed the first time they check the premium is when someone rings up and says "its higher than i thought" or i got a cheaper price elsewhere.

2. they ask for your best quote so it makes their job quicker, by knowing who else is quoting they can give like for like benefits etc. also if they are not competative they can try and improve their rates for you as a customer at a later stage.

3. im sure that the business model is a bit more than just hitching the price up, seeing as the internet is so accessible they wouldnt be stupid enough to increase prices "for a laugh"
 
2. Is just to see how competitive they need to be to keep the business, if your going to stay with them for a £20 discount thats what they offer, even if they could offer £100.

3. Im sure its not for a "laugh", I'm sure its to make money. They do well from apathy and I don't believe for one moment that its not part of there business model.

Call me a cynic if you wish :)
 
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