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Do you want the good news or the bad news?
- ChrisKnottIns
- Member
- Posts: 634
- Joined: Mon Nov 03, 2008 11:13 am
Do you want the good news or the bad news?
Hi, I thought you'd be interested in this even if your car insurance isn't due just yet but especially if it is! There's some bad news but there's also some relief at the end...
The bad news
According to an industry report last week, Comprehensive car insurance premiums are now at their highest levels since 2010.
The report reveals that the average premium rose to £847 during Q2 of 2017. That's an increase of £66 or 8.4% across the last quarter and £132 or 18.5% across the last 12 months.
The report cites 4 main reasons:
1) the increase in Insurance Premium Tax (IPT), which has been going up since July 2015 and now sits at 12%,
2) the marked reduction in the Ogden discount rate for personal injury awards,
3) good old Brexit - insurers are seeing increases in the cost of vehicle repairs, fuelled by Brexit’s impact on car part prices, and
4) greater repair complexity as the level of expensive technology in vehicles increases.
The report claims there's no evidence to suggest the increases are going to abate. A £1,000 average premium is still on the horizon but is getting closer.
There's some good news though...
Chris Knott's average new policy premium is just £405 - less than half the national average according to the report. This is also a much shallower increase across the last year - only £14 (3.6%) and still bucking the trend.
As a happy client recently said "This is my third year with @ChrisKnottIns and every year they beat all my other quotes for both cars that are modded. Many thanks again and keep up the good work and the prices down!" carcall, Audi-Sport forum
Please give us a call for a quote to access these lower average rates for club members. You'll need to mention this forum to gain access to our 'Clubs & Enthusiasts scheme'.
QUOTELINE: 0800 917 2274
ONLINE: Visit https://www.chrisknott.co.uk/CarQuote to request a call back.
*****************
Feedback about our clubs and enthusiasts offering:
"Well Chris Knott's has come good again - this is my 3rd year with them now this year. They beat all other quotes I was getting without even trying." Rusty2009, Astra J/GTC OC
"Another customer today. Not entirely new as insured a few Alfas with you many years ago. Good price, friendly chat with Ian. Not convinced about the need to supply driving licence check code as never had to do that before, nothing to hide but guess it's to flush out some that have." gavp, BabyBMW forum
"Hi Guys, just purchased my first policy from you - beat my renewal with AXA of £845, now I'm paying £760. Happy motoring. Easy, quick and competitive ." Vrs_Maj, VWAudi Forum
The bad news
According to an industry report last week, Comprehensive car insurance premiums are now at their highest levels since 2010.
The report reveals that the average premium rose to £847 during Q2 of 2017. That's an increase of £66 or 8.4% across the last quarter and £132 or 18.5% across the last 12 months.
The report cites 4 main reasons:
1) the increase in Insurance Premium Tax (IPT), which has been going up since July 2015 and now sits at 12%,
2) the marked reduction in the Ogden discount rate for personal injury awards,
3) good old Brexit - insurers are seeing increases in the cost of vehicle repairs, fuelled by Brexit’s impact on car part prices, and
4) greater repair complexity as the level of expensive technology in vehicles increases.
The report claims there's no evidence to suggest the increases are going to abate. A £1,000 average premium is still on the horizon but is getting closer.
There's some good news though...
Chris Knott's average new policy premium is just £405 - less than half the national average according to the report. This is also a much shallower increase across the last year - only £14 (3.6%) and still bucking the trend.
As a happy client recently said "This is my third year with @ChrisKnottIns and every year they beat all my other quotes for both cars that are modded. Many thanks again and keep up the good work and the prices down!" carcall, Audi-Sport forum
Please give us a call for a quote to access these lower average rates for club members. You'll need to mention this forum to gain access to our 'Clubs & Enthusiasts scheme'.
QUOTELINE: 0800 917 2274
ONLINE: Visit https://www.chrisknott.co.uk/CarQuote to request a call back.
*****************
Feedback about our clubs and enthusiasts offering:
"Well Chris Knott's has come good again - this is my 3rd year with them now this year. They beat all other quotes I was getting without even trying." Rusty2009, Astra J/GTC OC
"Another customer today. Not entirely new as insured a few Alfas with you many years ago. Good price, friendly chat with Ian. Not convinced about the need to supply driving licence check code as never had to do that before, nothing to hide but guess it's to flush out some that have." gavp, BabyBMW forum
"Hi Guys, just purchased my first policy from you - beat my renewal with AXA of £845, now I'm paying £760. Happy motoring. Easy, quick and competitive ." Vrs_Maj, VWAudi Forum
Chris Knott Insurance - 0800 917 2274 (or 01424 200477)
Club code: Z4-866
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- Paulr
- Member
- Posts: 844
- Joined: Sun Nov 06, 2016 3:46 pm
- Location: Tunbridge Wells
Do you want the good news or the bad news?
I am always reading that it is fraud that is pumping the prices up?
If you try and take a cat apart the first thing you have is a non working cat.
- ChrisKnottIns
- Member
- Posts: 634
- Joined: Mon Nov 03, 2008 11:13 am
Do you want the good news or the bad news?
Whiplash reforms to reduce those sorts of claim (and the costs) are due to reduce premiums but it's too early for any effect to have been recorded yet.
Chris Knott Insurance - 0800 917 2274 (or 01424 200477)
Club code: Z4-866
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- Marlon
- Lifer
- Posts: 10899
- Joined: Mon Jan 05, 2015 11:13 am
- Location: Lancs.
- Contact:
Do you want the good news or the bad news?
I would take a guess that the reason CKI insurance manages to quote half the national average for their new policy premiums is that they are selective in the policies they provide - basically refusing to insure if you are in the wrong postcode. I've been refused twice based solely on my postcode and I now have a very competitive insurance with LV.com
Gone: 3.0si 2008 E85
911 997 Carrera S
- hopz121
- Lifer
- Posts: 3712
- Joined: Sun Jul 03, 2011 4:33 pm
- Location: Guildford Surrey
Do you want the good news or the bad news?
I am with CK, happy so far with them
2004 BMW E46 M3 Coupe - Manual - Silver Grey
2017 BMW F31 318d M-Sport - Auto - Glacier Silver
2007 Porsche Cayman 2.7 - Manual - Arctic Silver
2003 Renault Clio 172 Cup - Blue
2003 BMW E85 Z4 3.0i - Gone
2008 BMW E90 330i SE - Gone
2017 BMW F31 318d M-Sport - Auto - Glacier Silver
2007 Porsche Cayman 2.7 - Manual - Arctic Silver
2003 Renault Clio 172 Cup - Blue
2003 BMW E85 Z4 3.0i - Gone
2008 BMW E90 330i SE - Gone
-
- Lifer
- Posts: 3069
- Joined: Sun Mar 07, 2010 3:40 pm
- Location: Somerset
- Mr Tidy
- Legend
- Posts: 24082
- Joined: Wed Jul 02, 2014 12:18 pm
- Location: North West Surrey
Do you want the good news or the bad news?
I thought part of the reason for premium increases was due to the revision of the Ogden tables, or "Actuarial Tables with explanatory notes for use in Personal Injury and Fatal Accident Cases" to reflect that claimants will not earn any significant interest on their compensation.
Anyway, I'm on my 2nd year with Chris Knott. (Where I live must be a better area than I thought).
Anyway, I'm on my 2nd year with Chris Knott. (Where I live must be a better area than I thought).
Coupes because stunning!
Current - Silver Grey MC, Imola Red heated Nappa & carbon trim. Aeros, H & R Coil-overs, 224s, OE Strut brace, Nav, cup-holders, DSP Hi-Fi, pdc, cruise, MFSW, no CDV! E90 330i daily
Gone - Montego Blue
Gone - Ruby Black
Current - Silver Grey MC, Imola Red heated Nappa & carbon trim. Aeros, H & R Coil-overs, 224s, OE Strut brace, Nav, cup-holders, DSP Hi-Fi, pdc, cruise, MFSW, no CDV! E90 330i daily
Gone - Montego Blue
Gone - Ruby Black
- ChrisKnottIns
- Member
- Posts: 634
- Joined: Mon Nov 03, 2008 11:13 am
Do you want the good news or the bad news?
As point 2 above
Chris Knott Insurance - 0800 917 2274 (or 01424 200477)
Club code: Z4-866
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-
- Senior Member
- Posts: 1650
- Joined: Wed Jan 25, 2017 4:59 pm
- Location: wirral
Do you want the good news or the bad news?
WHAT A LOAD OF TWONK just same as per English getting there pants pulled down and smacked nothing new here
2004 z4 30i auto Toledo blue stubby Areo front back sideskirts and rear spoiler M/// MFSW DLV exhaust mod mma tips vanos overhaul 108s refurbed ram air scoop E46 M3 heated seats clear rear lights M/// sport black grills
- buzyg
- Legend
- Posts: 26605
- Joined: Fri May 20, 2011 6:11 pm
- Location: Cornwall
Do you want the good news or the bad news?
Still happy with £290 for the ///MR. from a well know brand
- Number5
- Lifer
- Posts: 6029
- Joined: Tue Sep 24, 2013 7:34 pm
- Location: Bristol M4/M5
Do you want the good news or the bad news?
I've tried CKI and got far better quotes elsewhere.
I'm 51, IAM Driver, 30yrs NCB, Car is in an alarmed garage and only want 3k miles per year, (Not my Daily Drive) Policyholder only to drive...
If you can't be competitive on this sort of quote, I dont know who you're looking for !
I dont understand why these companies specialise on specific car forums when they can't be competitive on the car. The Alpina Forum is the same with Adrian Flux.
I'm 51, IAM Driver, 30yrs NCB, Car is in an alarmed garage and only want 3k miles per year, (Not my Daily Drive) Policyholder only to drive...
If you can't be competitive on this sort of quote, I dont know who you're looking for !
I dont understand why these companies specialise on specific car forums when they can't be competitive on the car. The Alpina Forum is the same with Adrian Flux.
- ChrisKnottIns
- Member
- Posts: 634
- Joined: Mon Nov 03, 2008 11:13 am
Do you want the good news or the bad news?
Hi Number5, I'm sorry we couldn't get there for you on this occasion. As a niche broker we do have a specific section of the enthusiast market in which the insurers on our panel are interested. Having said that, we love Z4 owners and we do aim to be competitive. Unfortunately we can't be the best for everybody all of the time - no one provider can but we'll help as many members as we can.
Chris Knott Insurance - 0800 917 2274 (or 01424 200477)
Club code: Z4-866
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- Ducklakeview
- Lifer
- Posts: 6362
- Joined: Tue Mar 22, 2016 4:08 pm
- Location: Merseyside
Do you want the good news or the bad news?
I rang for a quote last year at renewal time, just out of interest.. CKI quote was just on £1000, JUST for the Zed, as they wouldn't accept my 4 yrs NCB as it was from my motor trade policy.Marlon wrote: ↑Mon Jul 17, 2017 1:26 pm I would take a guess that the reason CKI insurance manages to quote half the national average for their new policy premiums is that they are selective in the policies they provide - basically refusing to insure if you are in the wrong postcode. I've been refused twice based solely on my postcode and I now have a very competitive insurance with LV.com
I renewed my motor trade policy, which covers my 4 vehicles, plus the bike for "any person driving with my permission" AND accompanied test-drive cover, as well as "any vehicle in my possession, custody or control" for £940 last year. Just renewed again for around £11 more...
48yrs of age, clean licence etc...
Mike
- cj10jeeper
- Lifer
- Posts: 17846
- Joined: Fri Jun 22, 2007 11:50 am
- Location: Lichfield, England
Do you want the good news or the bad news?
Hi
Do you do multi car policies? About to renew mine on an F type and XF
All other cars are on specialist classic car policies so not included
Do you do multi car policies? About to renew mine on an F type and XF
All other cars are on specialist classic car policies so not included
Jaguar F-Type 3.0 Supercharged V6 S, Stratus Grey, LSD, Active Exhaust, CF wheels, Performance brakes, Sports seats and mods ongoing
Gone but not forgotten Z4 3.0i SE Roadster ///M front, Red ///M leather seats, Aero sills
Gone but not forgotten Z4 3.0i SE Roadster ///M front, Red ///M leather seats, Aero sills
- ChrisKnottIns
- Member
- Posts: 634
- Joined: Mon Nov 03, 2008 11:13 am
Do you want the good news or the bad news?
Hi, yes we do offer extra discounts for hosting multiple policies but we'll arrange the most suitable policy for each individual car to make sure the savings before the discount are maximised too. You'll still have just the one point of contact and a single renewal date if that's what you'd like. Please note we ordinarily have a maximum individual vehicle value of £50k under the scheme but we can refer cases individually to the underwriters. So that's a benefit - it's not an absolute limit.
Please give us a call or PM me your number and we'll call you.
best,
Nick
Please give us a call or PM me your number and we'll call you.
best,
Nick
Chris Knott Insurance - 0800 917 2274 (or 01424 200477)
Club code: Z4-866
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