Author Topic: Insurance shock.  (Read 21357 times)

Kremmen

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Re: Insurance shock.
« Reply #15 on: February 02, 2022, 08:39:52 AM »
All respect to Adrian Flux and other forum insurers.

I tried one a few years ago and the price was competitive but the 2 potential insurers they said they would have placed me with had terrible reviews from customers come claim time.

I remember one was Eagle Star but I can't remember the other. I'd rather pay a bit more but not a price hike.
Let's be careful out there !

Lord Voltermore

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Re: Insurance shock.
« Reply #16 on: February 02, 2022, 09:58:17 AM »
Seems they have form for doing this: https://forums.moneysavingexpert.com/discussion/5622172/

I just 'renewed' wife's car with LV=.  They did quote for renewal, premium was bonkers.  First call to them they wouldn't budge.  Called again with a couple of changes and they slightly dropped the price but then said "of course, you've got one of our very old policies - try doing a new quote."   Did that - looks identical policy - over £100 less.   Some LV= customers have reported being told they're getting a new policy at the lower price, but when the Certificate arrives it's the same policy number as they had before.  Methinks there's something afoot!

I originally went to Hastings direct via the portal of "Compare the Market"  (simples) .

Then I needed to increase  my annual Mileage.  To my surprise this involved at least half an hour on the phone to India.  They cancelled my original Policy with one  insurance syndicate  , and issued a new policy with another syndicate.   Although increasing mileage should normally add to the cost  this new policy was actually cheaper.   :-*

I do wonder if by taking out a new policy  they no longer needed to pay Alexander the meercat a  commission at every  renewal  .
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Rory

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Re: Insurance shock.
« Reply #17 on: February 02, 2022, 10:44:51 PM »
I've been reading this forum for couple of years now, but still caannot understand your (UK) insurence system with companies, insurers and brokers. I would be glad to get some explanation, if you don't mind.

In Finland we have insurance companies, which cannot deny giving insurance for any road legal vehicle. There is a mandatory insurance covering any damage to other vehicles or structures as well all personnel damages. And then optional insurance to cover own vehicle damage. YEs, there are price differences between companies and depending the area you are living and in some companies also the age of vehicle owner. But still same insurance is valid no matter who is driving the car.
I am married to a Fin and understand that in Finland it is the car that is insured. What I don't understand is that whenever we visit friends and family in Finland we can borrow anyone's car and the insurance will cover whoever is driving with no questions asked what our driving record is like. Even our sons are OK to drive their uncles high spec volvo with no questions asked. In the UK they would not be allowed near a car like that because of their age.
I have asked a few times but have only received a vague answer that "it's the car that's insured'
Incidentally it seems to be the same in New Zealand.
It's exactly like that: It's the car that has to be insured. Every person with valid driving license is allowed to drive it and is covered with insurance. Insurance company can decline paying the damage only if the driver has been drunken or in drugs.
For me the UK system sounds very peculiar and tortuous. I mean causing a lot of trouble to car owners and has plenty of minefields.

How much are Fins typically paying for car insurance? 

The argument here is that most drivers pay very low premiums - but it's extremely expensive for younger drivers and is becoming increasingly expensive for "old" drivers too.   I was talking to a colleague in Munich and he pays €1200 for his car when I'd expect it to be £300 in the UK.

Lord Voltermore

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Re: Insurance shock.
« Reply #18 on: February 03, 2022, 07:09:59 AM »
In Bulgaria I believe the basic complusory insurance on a Corsa is about £100  , any driver.   I think they have started charging more for flashier cars and  if the person taking out the policy is young,so plenty insured in grandads name I should imagine.

To add a second policy to make it fully comprehensive is based on the value of the car  meaning the cost drops as the car gets older. Total for both probably similar to fully comprehensive in the uk for a low risk driver/car.
  Trust a dog to guard your house  , but not your sandwich

TnTkr

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Re: Insurance shock.
« Reply #19 on: February 03, 2022, 08:15:58 AM »
I've been reading this forum for couple of years now, but still caannot understand your (UK) insurence system with companies, insurers and brokers. I would be glad to get some explanation, if you don't mind.

In Finland we have insurance companies, which cannot deny giving insurance for any road legal vehicle. There is a mandatory insurance covering any damage to other vehicles or structures as well all personnel damages. And then optional insurance to cover own vehicle damage. YEs, there are price differences between companies and depending the area you are living and in some companies also the age of vehicle owner. But still same insurance is valid no matter who is driving the car.
I am married to a Fin and understand that in Finland it is the car that is insured. What I don't understand is that whenever we visit friends and family in Finland we can borrow anyone's car and the insurance will cover whoever is driving with no questions asked what our driving record is like. Even our sons are OK to drive their uncles high spec volvo with no questions asked. In the UK they would not be allowed near a car like that because of their age.
I have asked a few times but have only received a vague answer that "it's the car that's insured'
Incidentally it seems to be the same in New Zealand.
It's exactly like that: It's the car that has to be insured. Every person with valid driving license is allowed to drive it and is covered with insurance. Insurance company can decline paying the damage only if the driver has been drunken or in drugs.
For me the UK system sounds very peculiar and tortuous. I mean causing a lot of trouble to car owners and has plenty of minefields.

How much are Fins typically paying for car insurance? 

The argument here is that most drivers pay very low premiums - but it's extremely expensive for younger drivers and is becoming increasingly expensive for "old" drivers too.   I was talking to a colleague in Munich and he pays €1200 for his car when I'd expect it to be £300 in the UK.
Mandatory "traffic insurance" for my GK5 Jazz is 210 €/year (£175) and optional comprehensive cover "kasko" would be 1115 €/year (£930) for a new customer and goes down to 335 €/year (£280) if there are no incidents covered by the insurance within certain amount of years. That is called 70% bonus.
« Last Edit: February 03, 2022, 08:22:31 AM by TnTkr »

Lord Voltermore

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Re: Insurance shock.
« Reply #20 on: February 03, 2022, 11:37:24 AM »

Mandatory "traffic insurance" for my GK5 Jazz is 210 €/year (£175) and optional comprehensive cover "kasko" would be 1115 €/year (£930) for a new customer and goes down to 335 €/year (£280) if there are no incidents covered by the insurance within certain amount of years. That is called 70% bonus.

The optional "kasko" is also called Kasko in Bulgaria.  I knew Finnish was related to Hungarian but seems Slavic languages are also sharing some relatively new words. Makes a change from them being in English   ;D

At a total of £455 its not that much more than the UK.   With a full no claims discount, and living somewhere fairly  rural I am paying under £400.  I could probably get it cheaper still  by choosing a policy with fewer extras.
  But some drivers, especially those living in a big city, could easily pay much more.
« Last Edit: February 03, 2022, 11:39:01 AM by Lord Voltermore »
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TnTkr

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Re: Insurance shock.
« Reply #21 on: February 03, 2022, 12:09:20 PM »

Mandatory "traffic insurance" for my GK5 Jazz is 210 €/year (£175) and optional comprehensive cover "kasko" would be 1115 €/year (£930) for a new customer and goes down to 335 €/year (£280) if there are no incidents covered by the insurance within certain amount of years. That is called 70% bonus.

The optional "kasko" is also called Kasko in Bulgaria.  I knew Finnish was related to Hungarian but seems Slavic languages are also sharing some relatively new words. Makes a change from them being in English   ;D

At a total of £455 its not that much more than the UK.   With a full no claims discount, and living somewhere fairly  rural I am paying under £400.  I could probably get it cheaper still  by choosing a policy with fewer extras.
  But some drivers, especially those living in a big city, could easily pay much more.
Kasko insurance name came to Finnish language from Germany, but I've heard it's originally from Spanish.

Lord Voltermore

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Re: Insurance shock.
« Reply #22 on: February 03, 2022, 01:02:05 PM »
Countries sharing 'foreign' words amongst themselves  :o . Whats wrong with using good old english,such as   " optional supplementary comprehensive extension policy " ?     ;) ;D
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Rory

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Re: Insurance shock.
« Reply #23 on: February 05, 2022, 09:43:59 PM »

Mandatory "traffic insurance" for my GK5 Jazz is 210 €/year (£175) and optional comprehensive cover "kasko" would be 1115 €/year (£930) for a new customer and goes down to 335 €/year (£280) if there are no incidents covered by the insurance within certain amount of years. That is called 70% bonus.

As others have said, pretty similar cost and bonus structure to UK for average age driver / average location.  We don't really have 3rd party on its own any more - I think you can get it, but from most insurers it's no cheaper than comprehensive.

Lord Voltermore

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Re: Insurance shock.
« Reply #24 on: February 06, 2022, 08:31:44 AM »

Mandatory "traffic insurance" for my GK5 Jazz is 210 €/year (£175) and optional comprehensive cover "kasko" would be 1115 €/year (£930) for a new customer and goes down to 335 €/year (£280) if there are no incidents covered by the insurance within certain amount of years. That is called 70% bonus.

As others have said, pretty similar cost and bonus structure to UK for average age driver / average location.  We don't really have 3rd party on its own any more - I think you can get it, but from most insurers it's no cheaper than comprehensive.

I think most of the risk is in the third party element- ,personal injury and death compensation , repair to other vehicles etc. Which could be substantial . But their extra liability for  fully comprehensive is limited to the value of the car. If repair costs exceed that the car is written off.   I got the same quotes  for 3rd party or fully comprehensive  on My 2007 Yaris .   Not sure the same would have been true for my new Jazz. Not that I looked for third party  :o

High risk young drivers  may still find  bare minimum insurance a worthwhile saving.
  Trust a dog to guard your house  , but not your sandwich

peteo48

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Re: Insurance shock.
« Reply #25 on: February 06, 2022, 10:43:09 AM »
I'm expecting my renewal quote from General Accident any day now. I paid £237 full comp for my Mk3 Jazz in March last year.

I got a flyer from Saga Insurance offering me a guaranteed freeze on my premiums for 3 years if I switch to them. Just shy of £600 was their quote. That said I have never had a competitive quote from Saga and they are supposed to be aimed at my age group!

Kremmen

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Re: Insurance shock.
« Reply #26 on: February 06, 2022, 11:00:43 AM »
A lot of these so called dedicated age related companies can be very expensive.
Let's be careful out there !

Kenneve

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Re: Insurance shock.
« Reply #27 on: February 06, 2022, 11:39:47 AM »
Just got a renewal quote via Money Supermarket for my Mk4 Jazz EX = £742
What the hell is going on?
OK, so I'm coming up to age 85, but have a clean licence, been driving for over 65 years , without any accident that was my fault. 2 additional drivers (my daughters) each with clean licence and no accidents.
Is it really down to age or maybe it's because it's a Hybrid, can someone please explain this outrageous cost ?

N
« Last Edit: February 06, 2022, 01:52:17 PM by Kenneve »

Rory

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Re: Insurance shock.
« Reply #28 on: February 06, 2022, 09:07:29 PM »
Father in law stopped driving a couple of years ago at 92 - his last premium for an Astra was over 2 grand.

Kremmen

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Re: Insurance shock.
« Reply #29 on: February 07, 2022, 05:20:04 AM »
As I had some time yesterday I looked up LV on Trustpilot.

I spotted a trend with new customers impressed with the quote but 1 star reviews related to renewals. I got bored reading all the recent Jan 2022 renewal 1 star complaints.

I haven't investigated but a fair number of the posters were claiming LV owners Allianz was the new problem. The other regular post theme was the attitude of phone staff who appear to be losing interest and are coming across as grumpy and unhelpful.
Let's be careful out there !

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