Don't you just love car insurance companies?

[nilagin]

Car insurance renewal time and we have a multicar policy with Admiral. Quote had come through at over £880 for the two cars. Son works for Direct Line and gets a discount so as his was the major part of the quote decided it was obvious to give them a go. I fill in my details and to kick it off their data base tells me that my 2013 Focus ST3 is in fact a post 2004 2.0 Titanium. Submit the real details and get a very reasonable quote, cheaper than what my insurance had been 2yrs ago when I bought the car. It then invites me to submit the details of further cars for a multi car quote, except it won't give a quote on a second car.
My son finds out he needs to get a quote online, then phone to activate his discount, then he can add my car to the policy. Son gets his quote and discount but they can't add my car to the policy as it is against the data protection act. They must have changed the data protection act in the last 12 months then as that is exactly what I did last year with Admiral. But I need to get a quote adding the fact that another car in the household is insured by Direct Line to get a multicar policy. So I did just that, did it save me money did it f***. It came back with a quote for an extra £40 over my quote from the other day, so I bought the first one instead.

 

[Cobra]

I'm convinced that they make these "quotes" up as they go along, I'm there is a spotty 11 year old somewhere, in the back office, pulling numbers out of a hat.

 

[viv1969]

My renewal came in last month.... Double last years. WTF?
So I got a new quote online from their website - less than I paid last year - and called them.
Doesn't take a genius to guess the outcome.

 

[munch]

Which just proves the point that insurance companies "just pick a number" when deciding premiums.

 

[johnny8977]

It's a joke. When I get a renewal through and inevitably get it cheaper elsewhere, I never then go with the original company who magically can now beat the competitor. It's just a con for those who don't shop around.

 

[brman]

I quite like it

Two scenarios:

1) Everyone gets the same price, whether they are new business (ie online quotes via confused.com or their own websites) or are existing business renewing.
Nice and fair. What is not to like?

2) New business quotes are cheaper than normal as they want more business.
Existing customers are quoted more in the hope they will not shop around and hence help offset the reduced income from the new customers.
Hmm... not very "fair" on the existing customers.
BUT: Existing customers (like me) who are prepared to spend 5 minutes on confused.com (or whatever) and 15 minutes on the phone to them will get the cheaper deal. ie cheaper than it would in a "fair" system.

So, my insurance is subsidised by those that don't bother shopping around each year. I can live with that

I am with Admiral on a multicar policy. Every year the renewal is maybe 20% more than I can get with individual quotes from confused.com (admiral are generally within the best 3 prices for me there). So every year I phone them up and get that cheaper price. I don't like the hassle but will put up with it in the knowledge that this systems is almost certainly saving me money off the "fair" one........

 

[jonbeeza]

I'm convinced that they make these "quotes" up as they go along, I'm there is a spotty 11 year old somewhere, in the back office, pulling numbers out of a hat.

I think I got that person also, silly quote that they gave me. I never take the first quote, as it always seems vastly over priced. Amazing they can normally get it down, once you start complaining on the phone. I tend to ask to be put through to their loyalty customer team, as I have been with them a few years. I threaten to leave, they then knock a few quid off.

 

[mj4456]

I recently got unsolicited pone call telling me that they could save me £250 on my car insurance renewal, so I asked when I would receive the cheque for the difference after explaining my premium is less than £250, not possible I was told since their minimum premium is £300 they said, insurance companies are only a necessary evil and not to be trusted, they'll take as much money as they can screw out the client and then try to wriggle out of any claims.

 

[johnny8977]

I quite like it

Two scenarios:

1) Everyone gets the same price, whether they are new business (ie online quotes via confused.com or their own websites) or are existing business renewing.
Nice and fair. What is not to like?

2) New business quotes are cheaper than normal as they want more business.
Existing customers are quoted more in the hope they will not shop around and hence help offset the reduced income from the new customers.
Hmm... not very "fair" on the existing customers.
BUT: Existing customers (like me) who are prepared to spend 5 minutes on confused.com (or whatever) and 15 minutes on the phone to them will get the cheaper deal. ie cheaper than it would in a "fair" system.

So, my insurance is subsidised by those that don't bother shopping around each year. I can live with that

I am with Admiral on a multicar policy. Every year the renewal is maybe 20% more than I can get with individual quotes from confused.com (admiral are generally within the best 3 prices for me there). So every year I phone them up and get that cheaper price. I don't like the hassle but will put up with it in the knowledge that this systems is almost certainly saving me money off the "fair" one........

What an excellent way of looking it it, never thought of it like that. Maybe I will stick with the same company after all (if the price is right of course).

 

[wave01]

Got a renewal through some what expensive got cheaper on line. When I went to cancel they said they can offer better. Told them had they given that price up front I would not have gone else where.

 

[Nod]

When my bike policy (2 bikes on the same one) was up for renewal, Bennets (at the time the largest specialist bike insurers) told me that one of them (a current model, not high performance or valuable) wasn't on their list. Moved to Saga (since I'm an old fart!) at a cheaper premium than Bennets wanted for the one bike they would cover. Had a letter a week or so ago from Bennets telling me they had been taken over. By Saga! Hate sorting insurance. All the companies share the details so in theory there's no need to tell them every detail each year, just the reg no and my name/DoB should be enough for them to quote.

 

[Cobra]

All the companies share the details so in theory there's no need to tell them every detail each year, just the reg no and my name/DoB should be enough for them to quote.

I completely agree!

 

[shapeshifter]

I still don't understand why there is no 3rd party only insurance anymore.it was always half the price of Fully comp.Why am I compelled to insure my own mistakes? Systems bent.

 

[chris954]

I'm convinced that one of the details insurance companies share is the premium you are prepared to pay and when you phone round for quotes they already know how much you paid last year so quote somewhere roundabout that figure.

 

[jakeblu]

All the companies share the details so in theory there's no need to tell them every detail each year, just the reg no and my name/DoB should be enough for them to quote.

And any changes of course

 

[Cobra]

I still don't understand why there is no 3rd party only insurance anymore.it was always half the price of Fully comp.Why am I compelled to insure my own mistakes? Systems bent.

Doesn't third party fire and theft still exist?
More expensive than 3rd party only, but I guess with the ridiculous prices of cars these days ( that some people pay)
I guess they are bound to insure against their own mistakes or of course the "hit and run" or uninsured drivers, vandalism and more.

 

[boogie man]

When my bike policy (2 bikes on the same one) was up for renewal, Bennets (at the time the largest specialist bike insurers) told me that one of them (a current model, not high performance or valuable) wasn't on their list. Moved to Saga (since I'm an old fart!) at a cheaper premium than Bennets wanted for the one bike they would cover. Had a letter a week or so ago from Bennets telling me they had been taken over. By Saga! Hate sorting insurance. All the companies share the details so in theory there's no need to tell them every detail each year, just the reg no and my name/DoB should be enough for them to quote.

Bennetts are rubbish nowadays, Carol Nash are somewhat better though. I started using a brokers called Adelaide (they've changed their name to Cornmarket recently) on the back of several recommendations from a bike forum I frequent. They're based in Northern Ireland and are usually much cheaper than anyone else. Worth a call next time your policy is up for renewal.

 

[nilagin]

Doesn't third party fire and theft still exist?
More expensive than 3rd party only, but I guess with the ridiculous prices of cars these days ( that some people pay)
I guess they are bound to insure against their own mistakes or of course the "hit and run" or uninsured drivers, vandalism and more.

Over recent years the difference in premium between TPF&T and Comprehensive has whittled down to just a few pounds, probably just down to the industry trying to remove it from the system and looks like they have succeeded.

 

[Cobra]

probably just down to the industry trying to remove it from the system and looks like they have succeeded.

We have a choice, as long as its the one they want us to have

 

[nilagin]

We have a choice, as long as its the one they want us to have

Isn't it odd how everything is stacked in their favour. Someone really needs to overhaul the insurance industry and prevent them from writing their own rules.

 

[Cobra]

Isn't it odd how everything is stacked in their favour. Someone really needs to overhaul the insurance industry and prevent them from writing their own rules.

They are fast enough to take the premium, the minute there is a claim, they are more wriggly than a bucket of worms.
And of course will always pay lower than the market replacement value in the case of a write off!

 

[cosmicma]

just insured with admiral multicar for 2 cars which worked out cheaper than individual polices, even got a nice suprise when i submitted proof of my NCB and got refunded 85 quid which was a bonuse considering i was happy with the original quote

 

[Nod]

Mrs Nod dealt with all our cars' insurance last time out and with Admiral, we pay less for all 3 than I was paying for just mine. Fully expect to have to pee about at renewal time to get a decent deal but I'll leave her to it again!

 

[Cobra]

i submitted proof of my NCB and got refunded 85 quid which was a bonuse considering i was happy with the original quote

Its the little things in life

 

[Bristolian]

Bennetts are rubbish nowadays, Carol Nash are somewhat better though. I started using a brokers called Adelaide (they've changed their name to Cornmarket recently) on the back of several recommendations from a bike forum I frequent. They're based in Northern Ireland and are usually much cheaper than anyone else. Worth a call next time your policy is up for renewal.

Adelaide run the IAM insurance scheme and always had my business for car, bike and home as their premiums were always competitive and the motor insurance had some nice features not normally found elsewhere. When they got taken over by Cornhill all that changed - premiums went up dramatically and those nice extras disappeared over a couple of years. Earlier this year I had my renewal notice come through and it was 45% higher than the year before so I did a bit of shopping around and got them to match a lower offer so they kept my business. Three months ago I changed my car from a Saab 95 to Mercedes S320 - both cars worth about the same amount but the S320 has far better security and is much less of a theft risk than the 95 but they wanted 50% more for the S320!

Ywo phone calls later I had a new insurance company and a premium less than I was paying for the 95. Since then they've lost my bike and house insurance too. I had an email from their customer services director asking if I would complete a questionnaire about my experience with them. I emailed him back instead giving him chapter and verse ... not heard anything back from him yet. Also sent a copy of my email to the IAMs insurance coordinator who is looking into it, along with a number of similar complaints.

IAM = Institute of Advanced Motorists or as it is now known IAM Roadsmart

 

[Deleted sulking member 63079]

Blame all of the fraudulent claims, there's only a 3 - 4% profit margin on your insurance premiums once operating cost is taken into account

 

[Nod]

That's 3-4% of a legally required product. The dividends from insurance shares can't be bad...

 

[nilagin]

That's 3-4% of a legally required product. The dividends from insurance shares can't be bad...

Exactly, even if every premium was only £100, that is 3 or 4 quid off every motorist, plus all the extras you now have to pay for which were once included in the premium.

 

[boogie man]

Adelaide run the IAM insurance scheme and always had my business for car, bike and home as their premiums were always competitive and the motor insurance had some nice features not normally found elsewhere. When they got taken over by Cornhill all that changed - premiums went up dramatically and those nice extras disappeared over a couple of years. Earlier this year I had my renewal notice come through and it was 45% higher than the year before so I did a bit of shopping around and got them to match a lower offer so they kept my business. Three months ago I changed my car from a Saab 95 to Mercedes S320 - both cars worth about the same amount but the S320 has far better security and is much less of a theft risk than the 95 but they wanted 50% more for the S320!

Ywo phone calls later I had a new insurance company and a premium less than I was paying for the 95. Since then they've lost my bike and house insurance too. I had an email from their customer services director asking if I would complete a questionnaire about my experience with them. I emailed him back instead giving him chapter and verse ... not heard anything back from him yet. Also sent a copy of my email to the IAMs insurance coordinator who is looking into it, along with a number of similar complaints.

IAM = Institute of Advanced Motorists or as it is now known IAM Roadsmart

Cornmarket still came out cheapest for me this year on my bike insurance. I've just paid £130 fully comp on my Honda 1000. Bennetts wanted double that, Carol Nash was nearly a third more. Horses for courses I guess and it's always worth shopping around at renewal time.

On the changing cars scenario, it's not necessarily about value or security. Some models of car will always attract higher premiums, particularly if they've had a run of claims on them. Some cars cost a lot more to repair in the case of an accident as well: I imagine the spares for a Merc are significantly more expensive than Saab ones. Even your postcode can make a huge difference to a premium if there's been several claims in that area.

At the end of the day, insurance companies are simply having a bet with you that you don't make a claim....and they get to fix the odds. That's not to say I blame you for complaining, I'd do the same in your boots.

 

[Cobra]

plus all the extras you now have to pay for which were once included in the premium.

Like using your car to and from a fixed place of work, I'm betting a large proportion of the nation does exactly that

 

[viv1969]

Blame all of the fraudulent claims, there's only a 3 - 4% profit margin on your insurance premiums once operating cost is taken into account

Maybe they should contest more of them instead of caving in the first instance.

 

[Deleted sulking member 63079]

Maybe they should contest more of them instead of caving in the first instance.

Yeah, some do, some don't

I work for Aviva (on the software engineering side, so not on insurance specifically) and we're pretty pro-active at taking people to court over fraudulent claims.

This one made me laugh - https://www.theguardian.com/business/2016/jan/07/aviva-puts-breaks-mass-whiplash-claim-46-passengers

Collision with a bus at less than 10mph, and all 46 passengers tried to claim for whiplash...

 

[Bristolian]

Cornmarket still came out cheapest for me this year on my bike insurance. I've just paid £130 fully comp on my Honda 1000. Bennetts wanted double that, Carol Nash was nearly a third more. Horses for courses I guess and it's always worth shopping around at renewal time.

On the changing cars scenario, it's not necessarily about value or security. Some models of car will always attract higher premiums, particularly if they've had a run of claims on them. Some cars cost a lot more to repair in the case of an accident as well: I imagine the spares for a Merc are significantly more expensive than Saab ones. Even your postcode can make a huge difference to a premium if there's been several claims in that area.

At the end of the day, insurance companies are simply having a bet with you that you don't make a claim....and they get to fix the odds. That's not to say I blame you for complaining, I'd do the same in your boots.

Surprisingly, for parts that tend to wear out (suspension/steering bushes, brake pads, etc.) there's not much to shoose between them. You can get a replacement engine for less than £500 and 4 new tyres were less than I paid for the 95's. Some of the more specialist parts are horrendously expensive on the Merc though - the central locking is air powered (why would you do that?) with an electrically driven pump in the boot. The electric motors are prone to fail and a replacement is almost £900 because you have to buy the complete assembly - you can't buy the motor seperately To make matters worse if the pump unit fails then you loose several other systems in the car too, like soft close doors and boot, rear seat headrest retraction, lumber support massage - you now, all the really important things in life Still, it's a price worth paying for the luxury provided by the car

 

[Cobra]

Collision with a bus at less than 10mph, and all 46 passengers tried to claim for whiplash...

And of course they all did it separately, not an ambulance chasing solicitor in sight.
These need cracking down on hard as well!

 

[Gupster]

Bennetts are rubbish nowadays, Carol Nash are somewhat better though. I started using a brokers called Adelaide (they've changed their name to Cornmarket recently) on the back of several recommendations from a bike forum I frequent. They're based in Northern Ireland and are usually much cheaper than anyone else. Worth a call next time your policy is up for renewal.

Ditto.

They do a scheme for IAM members (which I am for car and bike). The way they operate is refreshing. They send me an email about a month before my policy is due for renewal. That gives me about a week to do some research on Confused.com at which point Adelaide call me, I give them the quotes I've generated on Confused and they beat them. Easy. I don't think in the 10 years I've been using them have they failed to beat the Confused quote.

My wife isn't a member of the IAM and she does her insurance through them now.


EDIT: Missed Bristolians post.

 

[onomatopoeia]

That's 3-4% of a legally required product. The dividends from insurance shares can't be bad...

You can always self-insure if you don't want to pay a premium. However, you would then need to hope you don't need to make a payout to a third party

 

[Russ77]

I've been with Directline for years (in fact the vast majority of the 21 years since I passed my test).

Not many companies on the comparison websites can get close with like for like cover and in two separate instances when I've needed them (theft from car and theft of car) they were fantastic.

However........ 2 years ago my renewal came through at £300 more than I'd paid the previous year, an online quote was showing a slight increase to my premium. The comparison sites were showing policies £20-£30 more expensive than the current policy I had so I called them up and 3 days later they called back and said they could match the online price.

Bearing in mind I paid around £320 that year, the renewal was pretty much double! The most annoying thing is they didn't really have any explanation as to why although I suspect there was an element of "trying it on" in the hope I'd blindly accept it.

 

[boogie man]

Surprisingly, for parts that tend to wear out (suspension/steering bushes, brake pads, etc.) there's not much to shoose between them. You can get a replacement engine for less than £500 and 4 new tyres were less than I paid for the 95's. Some of the more specialist parts are horrendously expensive on the Merc though - the central locking is air powered (why would you do that?) with an electrically driven pump in the boot. The electric motors are prone to fail and a replacement is almost £900 because you have to buy the complete assembly - you can't buy the motor seperately To make matters worse if the pump unit fails then you loose several other systems in the car too, like soft close doors and boot, rear seat headrest retraction, lumber support massage - you now, all the really important things in life Still, it's a price worth paying for the luxury provided by the car

Wow, that does seem a crazily complicated system. As you say, why go for pneumatic rather than electric? I can't see any logical reason why it would be any better? It's going to be fun when the seals and piping eventually start to perish too. There's soft closing on the boot of our Jag XF but that's done with an electric motor. Sounds a nice car though

 

[Yelkrub]

Carol Nash are somewhat better though

I had my motorbike insured with Carole Nash for years and found them good to deal with.
Make sure they don't put you with an underwriter called Markerstudy though; when I had an accident Markerstudy seemed to do everything they could to not pay out including saying I hadn't declared extras fitted to the bike (Carol Nash had the call I made to set up the policy on record and backed me up that I had) and after saying they may not pay up wanted to take the bike 200 miles away to repair it and if i wanted a local dealer I'd have to pay any storage cost myself. Staff generally obnoxious on the phone when they actually answer. Check out their trustpilot review, I wish I had!
Carole Nash legal assistance not as good as the broker; polite but slow and didn't chase stuff up in my case. I'd use an independent if need arose again.

 

[viv1969]

You can always self-insure if you don't want to pay a premium. However, you would then need to hope you don't need to make a payout to a third party

Not quite that simple.
You have to lodge a (very) considerable sum of money or surety (minimum 7 figures) with Lloyds in order to do so.