Car Insurance Companies are on Crack [Archive] - SV650.org

Mr Speirs

30-11-10, 03:57 PM

Without going into too much detail.
Just done some quotes and they want more from me than when I first started driving???
I think that must be proof they are on crack.

So after building up 7 years no claims I am paying the same as when I has none...brilliant.

Now I know insurance companies are complaining that they aren't making enough interest on the premium money that's in the banks and uninsured driver fund or whatever it is so they have to increase the rates but they are also charging 30% APR if you decide to pay monthly.
Now I am not an economist but the banks never ever had a 30% interest rate.

30-11-10, 04:00 PM

I bet you didn't try to insure a chav Alfa when you first started driving though did you ;) the chavier the car the higher the premium. You could always buy a peugoet 106 diesel?

This **** weather does not help, I wonder how much they have paid out in snow related incident in 2010.

pie_master

30-11-10, 04:04 PM

Seven years NCB should get you a good deal somewhere - have you stayed with the same firm all that time buddy?

Mr Speirs

30-11-10, 04:09 PM

I think the weather is just an excuse to raise premiums. I mean 2 weeks of bad weather and the many insurances companies nearly don't survive? I don't think so.

Chav Alfa doesn't have much of an effect TBH. Certainly not enough for me to sell it and get another.

Ok well put it this way. I used to have an identical car 4 years ago. I paid £450 per year. This when I was 21 with 3 years no claims.
Now 25 and 7 years no claims and they want £1100.

When I first started driving I was 17 zero no claims and paid £979.

It's all this crack cocaine that chavs in BMW 1 series' deal out. I heard this one guy loves willy so much he went to work for Seamens

Mr Speirs

30-11-10, 04:11 PM

Seven years NCB should get you a good deal somewhere - have you stayed with the same firm all that time buddy?

Yup same firm (direct line) the whole time as they have been cheaper for me than any other by quite a way. Not looking like it this year though.

Specialone

30-11-10, 04:11 PM

Its been on watchdog recently, hundreds of people complaining about huge increases even though their circumstances havent changed, some as much as 55% increase.

30-11-10, 04:12 PM

Ok well put it this way. I used to have an identical car 4 years ago. I paid £450 per year. This when I was 21 with 3 years no claims.
Now 25 and 7 years no claims and they want £1100.

That is mighty crap... is that seriously the best you can get?

I know a 25 year old that insures a 355 for £500 a year

Specialone

30-11-10, 04:13 PM

Yup same firm (direct line) the whole time as they have been cheaper for me than any other by quite a way. Not looking like it this year though.

Strangely, i used to use DL, use privilege now (owned by DL) and there are always cheaper than DL, so figure that one out.

Biker Biggles

30-11-10, 04:14 PM

Do you have a location or occupation problem.Thats a ludicrous price unless there is an issue of some sort.

Mr Speirs

30-11-10, 04:15 PM

Haven't tried a compare thing yet. Tried Tesco, Direct Line and Santander (as they are my bank and said if I went with them they would give me a sat nav, at £1778 they can shove the tom tom up their bum bum)

None below £1100 oh and that's if I pay in one lump sum. Add the 30% APR and you can add £100 onto that.

Mr Speirs

30-11-10, 04:16 PM

No location problem, and I don't think Warehouse Manager will be an occupation issue.

Mr Speirs

30-11-10, 04:17 PM

Strangely, i used to use DL, use privilege now (owned by DL) and there are always cheaper than DL, so figure that one out.

That's cos Joanna Lumly fancies older blokes...like real old.

Specialone

30-11-10, 04:18 PM

That's cos Joanna Lumly fancies older blokes...like real old.

:smt071I know what your getting at mr queers.

30-11-10, 04:18 PM

Gocompare is probaly the way forwards to be honest... direct line don't give qoutes on comparison sites (so their adverts say) and thats because they are **** and uncommpetitive generally.

I just renewed my home insurance after looking at gocompare, I would always do it direct with the insurer after using go compare though.

Mr Speirs

30-11-10, 04:30 PM

30-11-10, 04:36 PM

Just done a GoCompare.
Privelege: £1020

Did get a couple at £650 but never heard of the companies before so no idea what the actual policy is like. And one of then is called Premium Choice Lads..Bit Chavvy
the other was called Onequote direct??

The first company I recognised was Admiral at £850. Still nearly £300 more than I paid this year!!!

Yeah there is quite a few random no name companies quoting on there at the moment. I steer clear of the very cheapest and then go with the first company that I have actually heard of.

It's also the underwriters you need to be more aware of than the actual company selling. AXA, equity red star etc... some of the new underwriter are quite random too.

MisterTommyH

30-11-10, 05:39 PM

Try CIS.

I usually pay £600ish. This year only CIS and Direct Line were under £700. Everyone else was over £1000 (some even over £1200).

No new claims, no new endorsements and clocked up my 4th year of no claims.

Mr Speirs

01-12-10, 10:26 AM

Tried CIS. Either their website is not working properly or they don't want to insure me.
Said they couldn't complete my application online?

Mej

01-12-10, 10:31 AM

try bell insurance always thew cheapest for me. mine dropped £400 this year. from 1600 to 1200. still crazy high but its my age and my car doesnt help.

L3nny

01-12-10, 10:42 AM

Try adding other people as named drivers on your policy. I managed to save £200 by adding my Mrs to my policy even though she is younger and has less experience. Adding parents can help as well.

I am currently paying the same as I paid when I was 18 for a similar group car with a similar value I am now 30 and have 13 years no claims !!

pie_master

01-12-10, 11:21 AM

Yup same firm (direct line) the whole time as they have been cheaper for me than any other by quite a way. Not looking like it this year though.
DL did the same thing to me! I'd start with going down the comparison route & then see if the insurance companies wh've given you a quote are registered with any cash back websites like topcashback.

I've done this loads of times before and you can save heaps!

rowdy

01-12-10, 01:08 PM

Couple of firms to try are A Quote and Keith Micheals Insurance. They both advertise on a Subaru owners club site I go on so they may be worth a go (I haven't tried them yet so can't vouch for them personally).

Direct line are beginning to a**e rape me as well, with my insurance going up 120% since I got the car in Feb 08. Considereing I have used them for the last 12 years I would like a decent explenation as to why they are planning on putting my premium up so much and then I will be telling them to foxtrott oscar.

AndyBrad

01-12-10, 01:18 PM

what sort of car?

Mr Speirs

01-12-10, 02:35 PM

Alfa Romeo 156 Saloon 2.0 NA Petol bought for £2000. Nowt special.

metalangel

01-12-10, 02:41 PM

Considereing I have used them for the last 12 years I would like a decent explenation as to why they are planning on putting my premium up so much and then I will be telling them to foxtrott oscar.

Waste of time, in almost ten years driving I have had an insurer match a competitor's quote to keep me as a customer once.

L3nny

01-12-10, 02:59 PM

Alfa Romeo 156 Saloon 2.0 NA Petol bought for £2000. Nowt special.

A couple of years ago I had a V6 Alfa 156 as I never delete my emails I have just had a search through them and found a quote from Direct Line for the renewal on 10/4/2008 fully comp and the quote was £495.60

Cause I am sad and have nothing better to do I just got a quote for the same car and to insure it today it would be £1,180.40

Even though I am older wiser and have more no-claims. Mental!!!

Mr Speirs

01-12-10, 03:25 PM

454697819

01-12-10, 04:00 PM

It's a joke isn't it?

No amount of claims could cause premiums to more than double in 1 year. And it's not really anything to do with not making any interest on the premium money cos they charge 30% interest if you pay monthly anyway.

What is going on?

insurance is investment lead.

You now need to invest more money to get the same return to cover the insured risk...

Voila.. Premiums have risen

simplified but thats the bottom line..

oh ..ps they are all on crack

embee

01-12-10, 06:10 PM

This guy is an insurance broker on another forum, he gives quite a lot of very useful insights into what's going on. This is the start of another new thread.
http://www.deauvilleuk.org/forum/viewtopic.php?f=23&t=16203

thefallenangel

01-12-10, 09:46 PM

i dropped from gruop 7 to group 1 insurance car. another ncb, year older and had to pay £60 more.

metalangel

02-12-10, 07:19 PM

Aren't group 1 cars typically driven by:
-dozy women who crash into the inside of their own garage
-chavs, who would be keen to nick it so they can put an ill-fitting bodykit onto it

They just assume you're in one of those groups, I guess.

02-12-10, 07:25 PM

A Qoute are foreign speaking... have you on hold for 40 minutes on a premium rate number before you speak to a human... then get your details wrong IDIOTS.

Thanks :D

rowdy

02-12-10, 11:18 PM

A Qoute are foreign speaking... have you on hold for 40 minutes on a premium rate number before you speak to a human... then get your details wrong IDIOTS.

Thanks :D
Sorry about that, meant A plan, not A quote. I am an Idiot.

metalmonkey

03-12-10, 12:34 AM

I had another thread about the exact same thing...

Anyways I sorted my insurance its a bit more than I wanted like £400 for the year for the car, by the time I have added breakdown and whatnot your talking about £500...

Its still alot, way more than my bike insurance I could insure the bike for two years on what I what I pay for the car.

Speaking to one broker bike insurance is a lot cheaper than car insurance. I'm sure they make this s*** as they go along I how can they all jusity the massive difference in prices.

I once got got told becasue of one job I have done my car was more likely to be vandisled and they I probally took illegal drugs as the reason for the massive price!

I bet the greedy C*** are loving this weather, it will give them the chance to raise the price even more!

matt_rehm_hext

03-12-10, 12:42 AM

Ridiculously priced insurance.

Just another one of the reasons why I can't afford to insure myself to drive a car/van for the foreseeable future.

rowdy

03-12-10, 01:37 AM

I once got got told becasue of one job I have done my car was more likely to be vandisled and they I probally took illegal drugs as the reason for the massive price!
Last year when phoning around insurance companies I was told my wifes profession was one reason why it was high (even though its the same profession she has always done and previous premiums were quite low!)

I asked one broker what were bad jobs to have that would cause high insurance premiums and was told an artist is a bad job to have because, and I quote "someone might not like a picture or painting that they have done and vandalise their car [because of it]"

So yeh, I guess car insurance companies are on crack if they can come out with crap like that and use it as a valid excuse to rip people off.