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Do you want the good news or the bad news?

Posted: Mon Jul 17, 2017 12:51 pm
by ChrisKnottIns
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

Do you want the good news or the bad news?

Posted: Mon Jul 17, 2017 1:07 pm
by Paulr
I am always reading that it is fraud that is pumping the prices up?

Do you want the good news or the bad news?

Posted: Mon Jul 17, 2017 1:16 pm
by ChrisKnottIns
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.

Do you want the good news or the bad news?

Posted: Mon Jul 17, 2017 1:26 pm
by Marlon
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

Do you want the good news or the bad news?

Posted: Mon Jul 17, 2017 3:29 pm
by hopz121
I am with CK, happy so far with them :)

Do you want the good news or the bad news?

Posted: Mon Jul 17, 2017 3:33 pm
by Dav the wheel nut
You obviously don't live in The Bronx :wink:

Do you want the good news or the bad news?

Posted: Tue Jul 18, 2017 1:18 am
by Mr Tidy
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. :thumbsup: (Where I live must be a better area than I thought). :lol:

Do you want the good news or the bad news?

Posted: Tue Jul 18, 2017 9:58 am
by ChrisKnottIns
Mr Tidy wrote:
Tue Jul 18, 2017 1:18 am
I thought part of the reason for premium increases was due to the revision of the Ogden tables
As point 2 above ;)

Do you want the good news or the bad news?

Posted: Tue Jul 18, 2017 5:23 pm
by bz4kev
WHAT A LOAD OF TWONK just same as per English getting there pants pulled down and smacked nothing new here :x :!: :thumbsdown:

Do you want the good news or the bad news?

Posted: Tue Jul 18, 2017 5:56 pm
by buzyg
Still happy with £290 for the ///MR. from a well know brand :wink:

Do you want the good news or the bad news?

Posted: Tue Jul 18, 2017 6:42 pm
by Number5
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.

Do you want the good news or the bad news?

Posted: Thu Jul 20, 2017 11:17 am
by ChrisKnottIns
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.

Do you want the good news or the bad news?

Posted: Thu Jul 20, 2017 11:32 am
by Ducklakeview
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 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.

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

Do you want the good news or the bad news?

Posted: Thu Jul 20, 2017 12:04 pm
by cj10jeeper
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 want the good news or the bad news?

Posted: Thu Jul 20, 2017 12:20 pm
by ChrisKnottIns
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