33 replies to this topic

[samsfern]

been away from home for the week, just got back to open a letter from my insurance, regarding my renewal.

Mods currently declared are, bucket seats, harnesses, alloy wheels, suspension and brake upgrades, 1330 engine upgrade, uprated camshaft and performance exhaust.

I paid £880 for that last year, 1 year claim free, and still havent made a claim, nor got points on my licence.

Now they want £1289.41 this year, how can they justify wacking it up that much !?!?

Ill be phoning them monday regarding this, and as the mini now has a standard 998 lump fitted.

[MiniLuke]

Perhaps there has been lots of claims from 19 year olds with modified cars this year.

I would think updating the engine info would help you a bit though.

[mini_matty]

I had the same thing this year they wanted £900 for my 998 mini and then I thourght I would get a quote on my mates mini which is a 1300 and the same year as mine and they wanted £850 so I phoned up and complained and got mine down.
I think they do it to see how much they can get out of people.

[samsfern]

well, phoned them the otherday, querying as to why they think they can charge me an extra £400, they couldnt give me an answer, and said its due to everything raising.

So got a new quote on the mini, with a 998 engine, they asked how much bhp i will gain, i replied "minus 40bhp" :oomph:, they went away and got another quote, £938! Thats still like £60 more then what i paid last year, and i had over twice the power! Think i need to shop around a bit more, im insured till middle of april anyway.

Im not happy with footman james, as ive just learnt, that after being insured for two years, and not making a claim, i still have 0, yes 0 no years no claim thingy! So i think im probably gonna have to bite the bullet, pay a bit more and go with a company that i will build up a no claim bonus with.

[MiniLuke]

well, phoned them the otherday, querying as to why they think they can charge me an extra £400, they couldnt give me an answer, and said its due to everything raising.

So got a new quote on the mini, with a 998 engine, they asked how much bhp i will gain, i replied "minus 40bhp" :oomph:, they went away and got another quote, £938! Thats still like £60 more then what i paid last year, and i had over twice the power! Think i need to shop around a bit more, im insured till middle of april anyway.

Im not happy with footman james, as ive just learnt, that after being insured for two years, and not making a claim, i still have 0, yes 0 no years no claim thingy! So i think im probably gonna have to bite the bullet, pay a bit more and go with a company that i will build up a no claim bonus with.

Classic car insurance usually doesn't accrue any no claims. I bet you will be paying more with a standard insurer.

The power of your mini doesn't account for most of the premium. It's the likelyhood of someone your age claiming, and the cost of paying out to the third parties. In an accident the number of third parties claiming can be quite high including the emergency services, recovery and storage, solicitors, personal injury, loss of earnings and the council. That's all before the third party's vehicle repairs and then your own.

So you being a year older doesn't make much difference in an environment of increasing costs for all of the above third parties and perhaps more people of your age and gender claiming this year.

I agree though it might well be worth getting an accelerated NCB policy, where you get a full year NCB after 10 months.

[tommy13]

Had a similar problem when my son came to renew his policy with FJ. They could not explain the unrealistic increase and we found the same cover for half the price at Peter James.
Classic policies usually do not gain no claims bonus , but FJ will write you a letter stating that you have been insured with them for 2 years without any claims. These letters are often recognsed by other companies and NCB awrded accordingley.
The cover with Peter James ic classic cover so no NCB again.

Edited by tommy13, 16 March 2011 - 07:09 PM.

[samsfern]

at least if i build up a ncb ill be able to afford insurance for another, modern car. Got quoted 3200 for a corsa 1.4 16v, n reg, fully comp, and then 2700 for a rover 25 1.4 16v.

[Broomer]

at least if i build up a ncb ill be able to afford insurance for another, modern car. Got quoted 3200 for a corsa 1.4 16v, n reg, fully comp, and then 2700 for a rover 25 1.4 16v.

How old are you?

[mattso118]

Having the same problem with FJ paid £425 last year, 1 year on the quote is £626 for the same car no other mods etc? muy insurance gets renewed a month before my birthday. If I insure before my 19th its £626 if I wait a month It goes down to £501 due to me being 19 not 18. But all in all the amount it has gone up is quite frankly ridiculous!

[Darkscamp]

Just got my renewal through from Peter James Insurance for the Scamp and its gone down by £10 to £110 inc breakdown

[Jacko-lah]

I think they do it to see how much they can get out of people.

That's apparently 'good' business practise.

[dexterwest]

you think thats bad my insurance is 2500 for a standard 998

[maggies_minder]

you can really see why people drive around without insurance cant you...
if it was cheaper there'd be absolutely no reason for anyone not to have it.

but thats a whole new kettle of fish so i wont say anymore, other than i cant wait to see mine this summer

[dexterwest]

it would probally be cheaper to drive around without the insurance and pay the fine

[Darkscamp]

I think the government should put there foot down on the insurance companies aswel

Stats like;

Total number of cars insured on the road
Total number of payed out claims per year
Total cost to insurers of claims made - excesses
Total of premiums payed by drivers

etc....should be availiable as one whole total across the board so no single insurance company is singled out. I kinda guess they wont like that

It will make the whole insurance setup more transparent and bring down the rediculously over-inflated prices

Out of all my younger friends and ones who have now passed the magic premium reducing 25, only one of them has ever claimed on his insurance and that wasnt even deemed his fault so his insurance didnt have to pay out. The insurance companies make everyone believe that every young driver will have an accident costing them thousands. This is simply not true