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Renewal Time - Taking The Mick?


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#1 Eddieboi

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Posted 27 May 2014 - 07:12 PM

Hi all,

I'm due for renewal on my fiesta 2008. Now I've been driving since February 2012 and have a years no claim with Admiral.

Back in February 2013 my then car a vauxhall corsa M reg was due for renewal and Admiral quoted me £1057.13 third party so I was like no thank you!

I ended up getting new insurance with Lloyds which cost me around £600 odd and was living in Beckenham. So I got a better deal, after a few months I moved to Caterham in August 2013...I changed my address for the insurance and got about £100 odd taken off as the area was a low crime/accident area.

Around end of May 2013 I had a big issue with my corsa which would of cost me like £800-1000 so my only real option was to get a new car, luckily my dad helped me to get the current car I have now (Fiesta 2008 5 door).

I got the second had fiesta on around 2nd of June or so and insured it on the 10th of June 2013 under my then policy and went fully comp, now for some reason I had to start a new policy due to me having a different car (not sure if this is normal but I was surprised and just realised it may be due to me going fully comp). Now they added an additional £418.60 odd on top of my already £600 odd policy so in total £1000 odd and with 1 NCDs.

September 2013 I moved to Chislehurst into a new build apartment which was a part buy part rent property, again had to change my address and they charged me an additional £187.07, in total my insurance costed me £1182.75 with key fob cover and legal cover which I got back in June when I had to start a new policy on the car.

Now my renewal quote which I got when I rang up today as I haven't received the letter yet (apparently it was was sent out on the 21st of this month) is £1005.99 with legal cover and key fob included which I find somewhat displeasing say the least. Just to note I'm 27, have 1 year NCDs and have both my parents on the policy as secondary drivers who both have no recent accidents etc and over 15 years driving each.

So does that renewal quote and the cost of the policy before hand seem somewhat weird? Why such a low drop in price?

When I've used confused.com and just had me on the policy it's been £500 lowest up to over £1000 with current address.

I did state to Lloyds when I moved to where I am now that its a new build development so they said that's why maybe I had to pay more and I expect that's still why it's still expensive for me.

So any advise? I expect a lot of you will say to look about and that Lloyds is a rip off. I'm not sure if I'm gonna get my parents on my policy again as I'm not sure if that will have a positive or negative impact on the cost of a new policy.

I'd be interested to know what others are getting who may Owen a 2008 fiesta and around same age of me as I find it shocking it my renewal is that much I would of thought it dropped plus I would have 2 years NCDS come June this year.

Hope I haven't confused you all LOL

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#2 jeebowhite

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Posted 27 May 2014 - 07:42 PM

To be honest, £500 is a very good price no matter where you are, especially if you only have one year under your belt.

 

Take it as a bonus and get it as cheap as you can around there, but I am paying £600 on a policy that has 6 years of NCB amogst other things with business and mods, so I would say take the closest you can get to £500 and enjoy reaping the benefits.



#3 Eddieboi

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Posted 27 May 2014 - 07:47 PM

To be honest, £500 is a very good price no matter where you are, especially if you only have one year under your belt.
 
Take it as a bonus and get it as cheap as you can around there, but I am paying £600 on a policy that has 6 years of NCB amogst other things with business and mods, so I would say take the closest you can get to £500 and enjoy reaping the benefits.


I agree that £500 is descent I wasn't disputing that I was quite happy with that.

However for lloyds to quote me over £1K for my renewal I wasn't so happy :P

Quite a few of the insurers on confused I don't recognise however I guess these days we can't be so picky if we want a descent insurance cost.

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#4 mgaking

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Posted 27 May 2014 - 07:55 PM

Insurance companies hike up renewals all the time.

Few years ago Swinton gave me a renewal of about 600 but as a new customer (on confused.com) it was about 300.

If the renewal is stupid then decline and move to a different company.



#5 jeebowhite

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Posted 27 May 2014 - 08:50 PM

Ah I thought you were contesting that it was too expensive lol.

 

Its a good price, but as said, renewals go up, dont know why, but they dont seem to like keeping customers for some reason... Clearly the message of repeat custom being a good thing hasnt made it as far as the insurance industry.



#6 Philf1

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Posted 27 May 2014 - 09:02 PM

Never auto renew they will rip you off. Use confused, or go compare, or comapre the marlet (if you want a cuddly meerkat for free) and go with the cheapest that has all the extras you need. Make sure you cancel your DD with Lloyds or they may take the new premiums without you noticing.



#7 jeebowhite

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Posted 27 May 2014 - 09:03 PM

Phone them and clarify that you do not want to renew and advise you are cancelling the direct debit.

 

They can take the prmium with 14 days to renewal if they wanted to.



#8 Eddieboi

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Posted 27 May 2014 - 09:09 PM

I had a look at admiral and with my current address etc and 2 years NCDS (ill have 2 years by the time I have to have my insurance in place) and being employed and with the 10 month accelerator option came to about £522 or so.

My only issue I may be starting an apprenticeship so not sure how that will effect me once I have to stay a change of occupation.

Was with admiral before I moved to lloyds as they quoted me like £1000 odd and said lowest they could get me down to was £750 when I rang up.

Do most people just go for cheapest price or look at who the actual company on sites like confused and compare?

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#9 Philf1

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Posted 27 May 2014 - 09:12 PM

Generally the cheapest. Most are owned by bigger companies anyway. You only really know how good they are when you have to claim, just hope you don't.



#10 jeebowhite

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Posted 27 May 2014 - 09:14 PM

I dont care who the underwriter is, I go for cost and policy bonus. I am with Adrian Flux who use an underwriter I havent got a clue who it is :P

 

I need the certificate, and thats what I pay for. At the end of the day, if my insurer goes bust, then the AIB would cover the costs as I have continued to fullfil insurance until the time when they went under, but to be honest its not a bad deal, you can more often than not negotiate much more with the insurers underwriter than the insurer.

 

I managed to save myself several hundred quid dealing with the underwriters, whereas before dealing with a named insurer like admiral, theyw ouldnt particularly budge on any price.



#11 Eddieboi

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Posted 27 May 2014 - 09:46 PM

I dont care who the underwriter is, I go for cost and policy bonus. I am with Adrian Flux who use an underwriter I havent got a clue who it is :P
 
I need the certificate, and thats what I pay for. At the end of the day, if my insurer goes bust, then the AIB would cover the costs as I have continued to fullfil insurance until the time when they went under, but to be honest its not a bad deal, you can more often than not negotiate much more with the insurers underwriter than the insurer.
 
I managed to save myself several hundred quid dealing with the underwriters, whereas before dealing with a named insurer like admiral, theyw ouldnt particularly budge on any price.


Adrian Flux any good? might ring to get a quote since we can get a discount as members.

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#12 stevegtuk

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Posted 27 May 2014 - 10:00 PM

Im with Adrian Flux (2nd year now).

 

Age 41, ncd15years, no points, cars garaged and a couple of mods  :whistling:  adrian flux £592,,,,, I had quotes with no mods declared from the main stream insurers varying from £620 from esure up to about £9000 can't remember who.

 

Might have had something to do with being in a Bradford postcode though :lol:

 

prestige and chris knott are also popular companies with ford forums.



#13 Eddieboi

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Posted 27 May 2014 - 10:09 PM

Im with Adrian Flux (2nd year now).
 
Age 41, ncd15years, no points, cars garaged and a couple of mods  :whistling:  adrian flux £592,,,,, I had quotes with no mods declared from the main stream insurers varying from £620 from esure up to about £9000 can't remember who.
 
Might have had something to do with being in a Bradford postcode though :lol:
 
prestige and chris knott are also popular companies with ford forums.


Sounds good. I know Adrian Flux is more of a specialised insurer but do they offer like courtesy car and key cover etc?

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#14 stevegtuk

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Posted 27 May 2014 - 10:17 PM

they do, key cover was £15 extra, can't remember if the courtesy was extra or not, I guess it depends on the company its with.



#15 jeebowhite

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Posted 28 May 2014 - 06:11 AM

Yep, I am with them first year, and although I was getting close to leaving them (purely for cost) they are good, also if your underwriter doesnt offer you the cheapest rate, AF will go out to tender and get all their underwriters to come back and will find you a cheaper quote if its possible.

 

Its a good result, but you have to know how to work the insurers to get you the best deal :)



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