LV refusing to insure Honda Jazz due to catalytic converter theft vulnerability.

Uriel

Uriel

Uriel

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Derbyshire
I had my 2010 Honda Insight ES insured with LV until this year, then the premium nearly doubled, so I've moved. Could have been worse though. They are apparently refusing to insure pre-2008 Honda Jazz models, on the grounds of vulnerability to catalytic converter theft...

www.telegraph.co.uk

The humble hatchback that’s becoming uninsurable amid a spate of thefts

Vulnerability of older models’ catalytic converters means they’re stolen more frequently
www.telegraph.co.uk www.telegraph.co.uk

Seems bizarre that mainstream insurer should refuse to insure such a popular car...
 
SE model between 2001 - 2008 only. Not really end of the world.

However, what does annoy me is obviously the whole point of insurance is to cover and help in these situations, seems like LV don't want to do this so just move the goal posts (well, just refuse). As long as they make money they are happy enough to insure whatever but then when something like this happens they act like they are losing all their money. Well not really, but just deny customers cover. Nice to be dictacted to on what car you can drive. Just really hate big companies who make millions (operating profit remains stable year-on-year at £31 million and £35 million of bonuses shared with eligible members... from 2022 apparently) causing the little guy misery. Misery might be the wrong word but you get what I mean.

PS. I also wouldn't say Honda Jazz is a popular car. A Ford Fiesta - yes, but not a Jazz. :p
 
Rroff said:
I'm surprised they are insurable at all given the number of times I've seen them going the wrong way around a roundabout, wrong way down a one way street, coming head on at me on a dual-carriageway and several variants of that :s
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I appreciate tou may be joking but I've legitimately had several come at me going the wrong way around a roundabout and up a slip road towards me.
 
Dis86 said:
I appreciate tou may be joking but I've legitimately had several come at me going the wrong way around a roundabout and up a slip road towards me.
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Not joking at all - I've literally encountered several, in 2 cases resulting in the other driver having to surrender their license, one of which:

www.dorsetecho.co.uk

91-year-old drives wrong way down dual carriageway

A 91-year-old motorist has handed over his licence after driving the wrong way down a dual carriageway.
www.dorsetecho.co.uk www.dorsetecho.co.uk
 
Firegod said:
However, what does annoy me is obviously the whole point of insurance is to cover and help in these situations, seems like LV don't want to do this so just move the goal posts (well, just refuse). As long as they make money they are happy enough to insure whatever but then when something like this happens they act like they are losing all their money.
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This frankly is nonsence.

insurance companies aren't 'acting like they lost money' they very much have been losing money in recent years!

Car insurers' net combined ratio, which shows claims and costs as a proportion of premiums, hit 109.5 per cent in 2022
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www.ft.com

Motor insurers endure worst underwriting conditions in a decade

Sharp rises in the cost of used cars and repairs eviscerates margins
www.ft.com www.ft.com

You can't expect companies to offer insurance against something that is very likely to happen within an insured period where their costs will exceed the premium paid.

This has been the problem with Range Rovers. So many of them were being stolen that there's no way insurance companies could offer anything but a ridiculously expensive premium or just plain refuse cover in many circumstances.

The theft of a catalytic convertor in a car of this age will make the vehicle an 'economic writeoff' and unfortunately the prevalence of thefts from these types of cars is so high that insurance companies have to act accordingly.
 
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Honda Jazzes need a wide birth. Also Hyundai I10s.

The chances of something crazy happening are definitely higher.
 
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Nasher said:
Honda Jazzes need a wide birth. Also Hyundai I10s.

The chances of something crazy happening are definitely higher.
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99% of jazzes are driven by old codgers that don't seem to be able to see the road infront of them :p :D. ^not sure how well insulation with exceptions would go down, especially as it would likely be in the (very) small print and most people would miss it. Surely the best way to tackle it is to stop people weighing in cats that have been removed with an angle grinder.
 
Caracus2k said:
This frankly is nonsence.

insurance companies aren't 'acting like they lost money' they very much have been losing money in recent years!



www.ft.com

Motor insurers endure worst underwriting conditions in a decade

Sharp rises in the cost of used cars and repairs eviscerates margins
www.ft.com www.ft.com

You can't expect companies to offer insurance against something that is very likely to happen within an insured period where their costs will exceed the premium paid.

This has been the problem with Range Rovers. So many of them were being stolen that there's no way insurance companies could offer anything but a ridiculously expensive premium or just plain refuse cover in many circumstances.

The theft of a catalytic convertor in a car of this age will make the vehicle an 'economic writeoff' and unfortunately the prevalence of thefts from these types of cars is so high that insurance companies have to act accordingly.
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Paywall link. Which car insurance companies are losing money? Maybe earning less profit but can’t see them losing money.
 
Vanquish-Storm said:
Paywall link. Which car insurance companies are losing money? Maybe earning less profit but can’t see them losing money.
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Article doesn't say or elude to anything of use. Just that the cost to replace is high due to Ukraine war which premiums can't cover. It would come of no surprise that their net gains would still be positive even if insuring problematic cars.
 
The_Arbiter said:
Article doesn't say or elude to anything of use. Just that the cost to replace is high due to Ukraine war which premiums can't cover. It would come of no surprise that their net gains would still be positive even if insuring problematic cars.
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Not sure what cars or parts come from the Ukraine.

Sound like the usual BS, blame whatever is currently going on for big price hikes (which never drop afterwards ofc). But announce the biggest profits ever at the end of the year. Same as energy and oil companies...
 
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