Insurance quotes, my experience today and a bit of advice

[85genius]

Just spoken to my insurer this morning as hoping to pick up my SI later on in the week so wanted the quote on the system so I could just switch over to the new car....

Price difference between the 2.5i and the 3.0si.................. £712!!!!!!!!!!!! That's having already paid £320 for the year in the 2.5 + an extra £55 they charged me for the pleasure of getting non fault crashed into bringing the total to nearly £1100! I felt like a teenager again trying to insure my fiesta

Policy duly cancelled!

So on to the comparison sites, details saved so reasonably quick to pull quotes through....

Best quote £890.... Better but still no cigar

Then remembered I added my girlfriend prior to the euro road trip last year, she brought the cost down on the 2.5 so surely she wansn't increasing it now...

Removed the girlfriend and down to £660...

Getting better but still too much

Thinking along the same lines, I have my uncle as a named driver, he's been on there for the past 8 years and always (or so I thought) made my insurance cheaper as he's 10 years older than me and an experienced driver with no points or convictions....

Uncle off the insurance and down to £530!

Much better, still more than I'd like to be paying but I've now got a claim on there albeit non fault and am picking up the most powerful car I've ever owned...

If you'd said this morning the SI would add an extra £150 to my insurance cost I wouldn't have been happy but after a morning spent calling insurers and comparing prices I'm actually rather pleased..

So just a note, if you added people on to your policy who made it cheaper in previous years quotes, there is every chance that they could be making the quote considerably more expensive this time round so if you have named drivers on that you don't absolutely need it's worth having a play around with it before you accept the quote...

I saved £360 just by removing 2 people who had both brought my premium down in previous years

[bmwaddict]

Where are you located mate? Off street parking? Sounds a bit steep, I'm 32 with 6 years ncb and paying £325 for my si, always add my dad to my policies as it knocks off a couple hundred, have you tried Chris Knott insurance on here? Gave me the best price this year.

[Machpb]

I'd vouch for Chris Knott too, they beat my previous quotes by a further 10%.

[srhutch]

Should have bought an ///M. My policy went down by 20% when I upgraded from my 2.5si, and that was with the same company.

Others have seen similar savings upgrading to the ///M also.

[cj10jeeper]

Have you looked at all the alternatives of increasing excess, removing all the add-ons such as legal protection protected NCB, limiting mileage, single premium, etc.? I pay <£200 full comp for a 3.0i (advantage of Staffs. postcode, age and multi car)

Off road parking and not garaged can be cheaper (I was told it's because people hit the door frames or drop items off shelves on them).

Be creative. I just insured a comp Jeep and the insurance was c£600+ third party with no F&T. Ended up with it on a classic American car policy for £140 fully comp. and every mod covered on a like for like basis that makes it around £50k cover Vs book value of say £2k. Just had to restrict annual mileage

[85genius]

Upped the excess and dropped the milage and down to under 500!

I'm 31 but only 3 years NCB and got a fault claim from just over 4 years ago and also the non fault claim from last month....

Guessing I should be able to get it quite a bit cheaper next year when the at fault claim is no longer on the policy and I have an extra years NCB

[cj10jeeper]

Upped the excess and dropped the milage and down to under 500!

I'm 31 but only 3 years NCB and got a fault claim from 4 years ago and also the non fault claim from last month....

Guessing I should be able to get it quite a bit cheaper next year when the at fault claim is no longer on the policy and I have an extra years NCB

That makes sense then why the premium is so high with 2 accidents in 4 years they consider you rightly or wrongly a risk, in an even more powerful car.

Interesting how ///M's are lees which I assume is based upon average payouts being less than generic models, so risk is lower. Generalisation but - Collectors, enthusiasts, older, more experienced drivers, etc.

[pvr]

CJ - I had this discussion when getting the Audi where my son and daughter were driving it as well. It is all about statistics.

Choosing the particular car was cheap to insure, but if I had chosen a popular colour associated with a certain type of driver (think white or silver for rep cars), the premium for the identical car would have been a lot more.

In comparison to a 3.0, I assume there are fewer write offs with M cars as there are fewer to start with.

[cj10jeeper]

CJ - I had this discussion when getting the Audi where my son and daughter were driving it as well. It is all about statistics.

Choosing the particular car was cheap to insure, but if I had chosen a popular colour associated with a certain type of driver (think white or silver for rep cars), the premium for the identical car would have been a lot more.

In comparison to a 3.0, I assume there are fewer write offs with M cars as there are fewer to start with.

Totally agree pvr - similar to my business it's a pure stats driven pricing model.
I hadn't appreciated they went down to colour though.

I am aware that accidents fault or not are accidents. Simply put the car or driver are in more frequent opportunities to be at risk and that results in more costs for the insurers.

[PerryGunn]

Totally agree pvr - similar to my business it's a pure stats driven pricing model.
I hadn't appreciated they went down to colour though..

They don't https://www.firstresponsefinance.co.uk/ ... nce-myths/

it doesn’t don’t look at car colour when deciding a driver’s insurance premiums and that a car’s age, make and model, as well as how safe people are on the road, are the key determining factors.

[Chii]

Should have bought an ///M. My policy went down by 20% when I upgraded from my 2.5si, and that was with the same company.

Others have seen similar savings upgrading to the ///M also.

That is amazing that it goes down. Very good to know for the future....

Thanks so much for sharing Mr Genius.
I've also got a SI
I have never done removing of people from the policy, only swapping people around ie Friend / Dad / GF etc.
Mine was £710 last year, 25 then 1 Yrs NCB no claims /accidents with Dad and a older friend of 32.
This year with the same people now, so 26, 2yrs NCB no claims /accidents with Dad and same older friend £800! Thats through the comparison sites rather than a renewal quote! Not overly impressed I must say. I'll have a play around with removing everyone! And see how it goes. I figure mine is reasonably high as I generally do at least 15k on it a year. 15k of the best fun. ^^

Update: Checked with taking people off, saved me £6. At least it saved me I guess!
Also I've found with standard sneaky insurance sites, that when I checked last week, the prices then were higher, than they are now. Both last week and today had the date 20th of June for renewal keeping everything the same saved me £20 - £40 depending on what site I used. I guess we should be checking daily?!

[pvr]

Perry - Admiral certainly does - the quote for two identical model cars, same age, engine, mileage was different by 100's of £ by the colour only.

[PerryGunn]

Perry - Admiral certainly does - the quote for two identical model cars, same age, engine, mileage was different by 100's of £ by the colour only.

I'm with Admiral, and they don't even ask the colour of your car - I've just done another online quote to check if it's changed in the last year but they still don't ask about car colour

[85genius]

Perry - Admiral certainly does - the quote for two identical model cars, same age, engine, mileage was different by 100's of £ by the colour only.

I'm with Admiral, and they don't even ask the colour of your car - I've just done another online quote to check if it's changed in the last year but they still don't ask about car colour

They can find colour from the reg

[pvr]

When I called them before buying the car, there were two cars I was interested in. They asked for the plates and he told me that the cheaper quote was due to the colour only.