WTF is with with insurance?!

Justintime

Justintime

Justintime

Soldato
Joined
24 Jul 2006
Posts
8,876
Location
Hoddesdon, London, UK
Got a renewal quote for 1400 quid! on a 60 plate 335i, when i got it in November i remember the guy saying it would only cost about 100 more quid on a 526 quid policy on my 06 320D, did a few online quotes and was quoted 650 with Elephant, current insurer is Admiral (same company right?), who matched it when i called, came to about 705 quid with breakdown and personal injury etc.. I know they can be silly but this just left a bad taste in my mouth as to how much they try it on with peoples money.
 
Ouch, I feel the pain as a first year driver. I've paid 1500 for my first year, and that's for a 1.2 litre. As long as my second year quote is below £1k I'll be happy.. I think
 
It does get better but sometimes it seems they throw everything out the window and come with out with shocking figures. Am 30 with max no claims, no convictions etc.. and reasonable postcode lol. I paid about 1300 quid myself my first yr on a polo, which was newish in 1998 :)
 
Got to love insurance.

My cheapest quote I've found for a 1st car is £1400 with one of those gps box things. My friend did the exact same quote though using his post code and it was £3k..ridiculous.
I thought mine was going to be a lot more than it is, so I'm happy!
 
My insurance is due to renewal 14th of February did some quotes last night and was very surprised to find that from last years £558 it has gone down to £397! still cant believe it so will wait and see what it comes to at renewal time, but have not had a renewal through from Adrian flux, does any one know if they actually send you one, and how long before its due to run out?
 
Every year when I do a comparison quote I always see some insurers tooting £3000+ and I sit there wondering who actually goes for hose insurers? I mean, how do they stay afloat with quotes like that?

Needless to say I phone elephant and Admiral and let them give me lower quotes and settle for the one that’s closest to 500 :p
 
mrk said:
Every year when I do a comparison quote I always see some insurers tooting £3000+ and I sit there wondering who actually goes for hose insurers? I mean, how do they stay afloat with quotes like that?
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:confused:

They dont quote that for everyone!

They'll give people in their target segment decent quotes, all insurers specialise in different sorts of people
 
Surely they inflate prices for most people anyway, otherwise the other more well known insurers would have similar quotes. The ones I'm on about are insurers that I've never heard of though I guess.
 
Not really sure what you mean. If you fall into that companies target audience, the quote will be competitive. If not, it'll be expensive - it doesnt really matter how well known they are. Insurance is a competitive business like any other
 
Their categories must be way off then because I shouldn't fall into any high quote grouping as evidenced by all the other insurers! Lowest postcode area, leisure only, driveway, 6+ ncb etc.

Insurance is weird :-P
 
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It isnt really. You cant possibly fall into every insurers target market. Some insurers may specialise in elderly welsh ladies driving modified performance cars......is that you?
 
Aviva renewal comes through at £415. Get some quotes elsewhere for less, so I call up Aviva and ask that we change a couple of things so that they match the new quotes I've got.
Main one being increasing the total excess to £250 from £150.
New quote - £465. Yup, up my excess by £100 and my quote goes up £50.

So have now taken out a policy from Swiftcover at £320.

All a giggle. Last year Swiftcover wanted me to pay £800+ when I got a quote because I'd had a:
Inform only, no fault, £0 incident
In fact only Aviva would give me a good quote because of that one incident.
That incident is now another year past (but still within 5) and I've had a replacement windscreen claim on top yet they have dropped quote by around £500 on a year.

None of it makes sense!!
 
I love how many people seem to think insurance doesnt make sense or is totally random.

While the calculations are incredibly complicated, it's simple statistics. It's not about common sense or what you think should be cheaper - it's purely based on what sort claims people have made in the past.

It makes complete sense, it's just counter intuitive sometimes because statistics dont always show what you expect them to.
 
iaind said:
I love how many people seem to think insurance doesnt make sense or is totally random.

While the calculations are incredibly complicated, it's simple statistics. It's not about common sense or what you think should be cheaper - it's purely based on what sort claims people have made in the past.

It makes complete sense, it's just counter intuitive sometimes because statistics dont always show what you expect them to.
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As I said in my post, 100% true:

Quote was £415.
Called them up and asked for 1 change to be made - excess increased from £150 to £250
New Quote was £465

If that makes any kind of sense....I'm listening.
 
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