insurance renewal

[wilsbrough]

So i got my insurance renewal quote today from Adrian flux, who i have been with for about 3/4yrs now. my previous car being a pretty modified (engine wise) astra 2.0 turbo. All mods declared i was paying £460 fully comp. Now for the 3.0 petrol (stock) x3 they wanted £870 fully comp....?? The astra was a hot hatch with about 30/40bhp more than the x3. I have no idea where they got that price from.... Anyhow got a company called Go skippy have quoted £430. Guess i'll be with them now. just cant believe the Adrian flux quote. Guess they don't like BMW drivers....

[Horizon]

It's not the car, it's because you have been with them for a few years, they are all the same.
I had an E93 330i in my name with the wife as a named driver, when I bought the X3 she got shut of her TT and had my car. They quoted over £200 more in her name. ! Swapped insurance companies £300 less.
They are only interested in new business. I swap companies nearly every year, especially if I change mid term, pay the £30 cancellation fee and save loads.

[bascule]

Same here - renewal on Friday with NFU (been with them a decade) suddenly wanted £890 to renew cover on my 03 X5 3.0D.

RAC, bless them, to the rescue. £363, with a £250 excess.  Lovely.  Go Skippy were another £50 cheaper but Ive never heard of them!

[Alan Gunn]

My daughter is with Go Skippy the name put's me off lol.

[X5Sport]

Insurance is going up because of the new way that injury claims are dealt with.  The Industry said this would happen if the Gov't changed the rules but were ignored....

[wilsbrough]

The name's not a problem, I'd go with "bend over and pull your trousers down sir.com" if the price was right.... the wife has been with go Skippy for a few years now and so far so good. (tho yet to make a claim so who knows..) Also if I remember right, I saw a add a few years ago now for them on tv, with a kangaroo I believe, so they have been round a few years now.

So the new excuse is the "government"...? It used to be the young drivers, then the false whiplash claims, then the uninsured drivers, I guess in a few years there will be another reason to put it up. Probably Brexit....

[X5Sport]

The last Government changed the law around injury claims and put much more of the load on insurers.  They of course are only in it to make a profit and anything that impacts that gets passed on to.....their customers.

The motoring press warned this would happen back in April when the law changed.....

[NehalX5]

If you want to get a good price just use comparison websites, Adrian flux don't do well for quotes and only are good for specialist cars.

[wilsbrough]

That's what I did and got the go Skippy quote. Funny thing is tho, tried go-compare and compare the market. Both had go Skippy as the cheapest. However on compare the market the quote was £30 cheaper...? Same details, same insurer....

[X5Sport]

........different commission rate  >:(

[kenniff]

I should declare that I used to work for an insurer.... We all moan about the premiums, myself included and of course they are in it to make a profit, yet the reality is that insurers are absolutely rubbish at making money out of us.

If you look at the profitabilty for motor insurance in the last 30 years their results are dire. The motor insurance industry last made a profit in 1993.

The latest hammer to their profitability is that the discount applied to personal injury compensation claims (to reflect the fact that a large sum of money would be paid out in one big lump to a severely injured person and therefore capable of investment) has been reduced. The reason the discount has been reduced is simply that these days you can't get the kind of interest payment that used to be possible. Just check out how much interest you are (not) getting on your savings these days.

Whilst the industry is quite right that this will cost them millions more, and will therefore put our premiums up, who among us think that the severely injured should get awarded less by the Courts? No? Didn't think so. Pay the lowest premium you can find and be thankful for your health

[jagr]

I have used Adrian Flux for my Corvette for the last 4 years as there quotes have been unbeatable and I like the flex drive option but today I received my renewal and it has gone up 20% and when I called to discuss she said that was the lowest price available.

I immediately went online and am considering Performance Direct as they are 20% less than last years quote.

[wilsbrough]

Just an update, got my insurance down to £397, great. Then 6 days before my insurance is due, whilst stationary at a red light, I get rear ended by the car behind. He accepts full liability, give me his details, no claim is being made against me, accident is being treated as non fault and still have my full no claims. But now the cheapest insurance I can get is £560....?? I was wondering if the chap who worked for the insurance company can explain how they can justify that?

[kenniff]

[quote="wilsbrough"]
Just an update, got my insurance down to £397, great. Then 6 days before my insurance is due, whilst stationary at a red light, I get rear ended by the car behind. He accepts full liability, give me his details, no claim is being made against me, accident is being treated as non fault and still have my full no claims. But now the cheapest insurance I can get is £560....?? I was wondering if the chap who worked for the insurance company can explain how they can justify that?
[/quote]
Statistically people who have a non-fault accident in their history are less likely to be profitable for the insurer than those who have no accident at all. That's a fact based on modelling past experience and the law of large numbers. They aren't basing their decision on you, its on the profile of risk that you currently (along with 1,000s of others represent). In reality you may go the next year with no incidents whatsoever, but on average, you and all the others with a similar risk profile are very slightly more likely to have an incident than the others in the risk profile that looks like you but without the non-fault accident.

It sucks to be lumped in with all these others when you yourself are an individual - but then, if you had just had a costly at fault accident you would be glad not to be paying a premium directly related to your own experience.

[IanP]

I have been with Admiral for 6 years with my 4.6is, at a very good rate. Now I am trying to renew with an X6M, and they are quoting £1200. A certain comparison site is giving me multiple quotes between £350 and £500 with same excess etc., so it really pays to shop around