Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

Harry Monk

Car Insurance

Recommended Posts

Last year I paid £288.60 for fully comp insurance on a P-reg Rover Sterling worth £500, I have made provisional quotes about this year's insurance and the cheapest quote is £414.99.

I have 11 years no-claim bonus and my circumstances are unchanged. Is this typical?

Share this post


Link to post
Share on other sites

I'm sorry don't you mean deflation? :D

Anyway it is quite well known now that NCB makes bog all difference, quite simply there are insurance steps.

16-18 £15000+

18-21 £6000+

21-25 £4000+

25-30 £3000+

30-35 £2000+ (this is where i am at I can't get insurance below £1700)

35-40 £1000+

40-55 £1000+

56-65 £9000+

Share this post


Link to post
Share on other sites

From another thread:

http://www.housepricecrash.co.uk/forum/index.php?showtopic=157619&view=findpost&p=2853953

There was a thread yesterday about car insurance going up 38% so I looked at the annual report of the first insurer that came to mind which was Aviva.

http://www.aviva.com/library/pdfs/reports/2009/aviva-report-2009.pdf

Just look at the remuneration report. How many cars did they have to insure just to pay the Chief Executive? No wonder their insurance prices are going up!

Andrew Moss, Group Chief Executive

Basic Salary £925,000 during the year

Mr Moss requested not to receive an increase to his basic salary in 2009.

Mr Moss requested that his basic salary should not be subject to annual review in 2010.

ABP £1,029,294 (111.3% of basic salary)

Bonus is a function of the degree of achievement of 2009 targets as follows:

(£343,098 delivered in cash and £686,196 deferred into shares for three years)

Financial 38.9% (maximum 50%)

Employee 5.0 % (maximum 10%)

Customer 6.9 % (maximum 10%)

Personal 23.3 % (maximum 30%)

OATTV Plan £501,443

The face value of 100% of the two-thirds deferred element of 2008

annual bonus.

LTIP – Face Value of grant £1,618,750

The face value of the grant represented 175% of basic salary on

28 February 2009.

ACAP £462,500

The Trustee of the Plan accepted Aviva’s recommendation and made an

award into the plan equivalent to 50% of Mr Moss’ basic salary as at

1 April.

Other Benefits £19,000 cash car allowance

2% basic salary cash

Mr Moss receives 2% of basic salary as a non-pensionable cash

supplement provided in consideration of his surrendering his Unapproved

Unfunded Retirement Benefit (UURB) promise at the point when accrual in

PMI the ASPS ceased.

This might give some indication of why car insurance is becoming so expensive... :angry:

Share this post


Link to post
Share on other sites

I'm sorry don't you mean deflation? :D

Anyway it is quite well known now that NCB makes bog all difference, quite simply there are insurance steps.

16-18 £15000+

18-21 £6000+

21-25 £4000+

25-30 £3000+

30-35 £2000+ (this is where i am at I can't get insurance below £1700)

35-40 £1000+

40-55 £1000+

56-65 £9000+

What do the figures mean?

Share this post


Link to post
Share on other sites

From looking around elsewhere it seems this quote is typical, I am just to let the insurance lapse and carry on driving, there's only one road near me where the Police ever set up ANPR cameras, I will just by-pass it.

In the circumstances, I see little point in bothering with the MOT test either.

Share this post


Link to post
Share on other sites

What do the figures mean?

They are typical insurance quotes my peers are getting. Thus if you are 16-18 you won't get insurance for less than £9000.

The car hardly matters anymore either, play around on insurance quote websites and prepare to be utterly stunned at the amounts.

Share this post


Link to post
Share on other sites

I'm sorry don't you mean deflation? :D

Anyway it is quite well known now that NCB makes bog all difference, quite simply there are insurance steps.

16-18 £15000+

18-21 £6000+

21-25 £4000+

25-30 £3000+

30-35 £2000+ (this is where i am at I can't get insurance below £1700)

35-40 £1000+

40-55 £1000+

56-65 £9000+

Earth calling Ken, Earth calling Ken, come in Ken.

Share this post


Link to post
Share on other sites

Earth calling Ken, Earth calling Ken, come in Ken.

Suck it and see, go on price comparisom websites and have a look with the age ranges I specify try it with the post code M25. THese are the prices I get when I play around. The car makes absolutely no difference at all it seems. I tried with a Daihatsu copen 660cc turbo. A toyota celica a Hyundai coupe and also a suzuki capuchino. The quotes were often around that mark. Put student on it or unemployed and the quotes can go up even more.

Share this post


Link to post
Share on other sites

They are typical insurance quotes my peers are getting. Thus if you are 16-18 you won't get insurance for less than £9000.

The car hardly matters anymore either, play around on insurance quote websites and prepare to be utterly stunned at the amounts.

What planet are you on? I'm 28 and I renewed my insurance 3 months ago for £290

Share this post


Link to post
Share on other sites

What planet are you on? I'm 28 and I renewed my insurance 3 months ago for £290

I'm 51 and I haven't claimed on car insurance since I was in my 20's, I am not prepared to pay over £400 for a piece of paper so I am just going to drive around uninsured, the fine is several times cheaper.

Share this post


Link to post
Share on other sites

i am renewing the insurance on my 99 ford focus 1.4. I cannot use my 8 years no claims as i have another car and can only use it once. The cheapest quote is 200 more than last year, £540. I am 37 no claims, convictions or points and live in an ok area in north london. It's a f ing joke. And that's 3rd party. I don't blame inflation it's just taking the piss.

Share this post


Link to post
Share on other sites

Suck it and see, go on price comparisom websites and have a look with the age ranges I specify try it with the post code M25. THese are the prices I get when I play around. The car makes absolutely no difference at all it seems. I tried with a Daihatsu copen 660cc turbo. A toyota celica a Hyundai coupe and also a suzuki capuchino. The quotes were often around that mark. Put student on it or unemployed and the quotes can go up even more.

Not cars but on the unemployed insurance part - my possessions insurance went up by circa 10% when I told them I was unemployed. I asked them WTF it was going up seeing as I still lived at the same address in the same area and was now in the house 20-22 hours of the day rather the 12 I'd be if I was working. They didn't have a convincing answer for that.

Share this post


Link to post
Share on other sites

Last year I paid £288.60 for fully comp insurance on a P-reg Rover Sterling worth £500, I have made provisional quotes about this year's insurance and the cheapest quote is £414.99.

I have 11 years no-claim bonus and my circumstances are unchanged. Is this typical?

I've been told before that I get cheaper insurance (£630 on a 5.0 V8) because I have a class 1 hgv licence which reduces the premium more than IAM or any other advanced motoring qualification - this is through a broker.

Share this post


Link to post
Share on other sites

Suck it and see, go on price comparisom websites and have a look with the age ranges I specify try it with the post code M25. THese are the prices I get when I play around. The car makes absolutely no difference at all it seems. I tried with a Daihatsu copen 660cc turbo. A toyota celica a Hyundai coupe and also a suzuki capuchino. The quotes were often around that mark. Put student on it or unemployed and the quotes can go up even more.

Having lived in M13 0BU and M15 5TN I'm obviously just a posh twit with no idea.

Share this post


Link to post
Share on other sites

The car is worth the same as a year's insurance and as I haven't had a crash for 26 years I will just take my chances.

If you get busted by the Feds, lose car + fine + costs. Is it really worth it driving uninsured?

Share this post


Link to post
Share on other sites

From looking around elsewhere it seems this quote is typical, I am just to let the insurance lapse and carry on driving, there's only one road near me where the Police ever set up ANPR cameras, I will just by-pass it.

In the circumstances, I see little point in bothering with the MOT test either.

I have thought the same and can understand why people do it. The fine is a fraction of the insurance cost but it is the points on your license that are the real problem.

why not just get 3rd party insurance? If you had an accident yours would be a write off and they probably wouldnt be giving you back much more than your excess anyway.

If you are going to drive without tax/insurance/mot then you need a foreign motor, pop over to europe and get a second hand car with german/dutch/polish plates and you are bullet proof because the plod dont pull foreigners.

Share this post


Link to post
Share on other sites

If you've got an STR fund of £500k you could always deposit it with the government and be your own insurer.

It's called self-insuring and large fleets sometimes do it - I think it's risky even for large companies given the potential personal injury payouts if at fault accidents left people paralysed and needing long term care.

Tempting to do it just to see how it played with knuckle-head traffic cops.

Share this post


Link to post
Share on other sites

If you get busted by the Feds, lose car + fine + costs. Is it really worth it driving uninsured?

Absolutely, as Harry says what are the chances of getting caught as an occasional non-peak time user in a quiet area?

These prices sounds mad, as does the irrelevance of whether Ken is driving a pensioner-mobile or an Evo, I guess I'll find out the bad news in six months when mine comes round again.

Share this post


Link to post
Share on other sites

Not cars but on the unemployed insurance part - my possessions insurance went up by circa 10% when I told them I was unemployed. I asked them WTF it was going up seeing as I still lived at the same address in the same area and was now in the house 20-22 hours of the day rather the 12 I'd be if I was working. They didn't have a convincing answer for that.

They just go off statistics. There must be some people who are sufficiently hard-up to fake a burglary.

Share this post


Link to post
Share on other sites

I'm 51 and I haven't claimed on car insurance since I was in my 20's, I am not prepared to pay over £400 for a piece of paper so I am just going to drive around uninsured, the fine is several times cheaper.

If you've just turned 51 this may be it (as Ken said but without the silly hyperbole on the actual costs)

Share this post


Link to post
Share on other sites

I cannot use my 8 years no claims as i have another car and can only use it once.

Never come across this myself. Seems a bit odd - your lack of claims is not a thing but a state of being so it should apply to all your cars surely.

Share this post


Link to post
Share on other sites

Not cars but on the unemployed insurance part - my possessions insurance went up by circa 10% when I told them I was unemployed. I asked them WTF it was going up seeing as I still lived at the same address in the same area and was now in the house 20-22 hours of the day rather the 12 I'd be if I was working. They didn't have a convincing answer for that.

Presumably their actuarial data shows that unemployed people make higher claims. There could be a number of reasons - more likelyhood of accidental damage, increased chance of fraud. etc

Share this post


Link to post
Share on other sites

I'm genuinely sorry to read of the OP's insurance woes and am not posting this to be smug but...

... I spent some years with an insurer and would just sigh and pay up every January when the massively increased quote came through the door - it basically went up by several tens of pounds a year, regular as clockwork. A year ago I finally got off my backside, went to an insurance quote site and switched provider, in the process dropping the premium from about £420 to £261.41

I fully expected a massive rise this year (the provider has a rep for tempting you in with a low first-year quote) and just now I opened the renewal letter with some trepidation. This year they want £264.39, so I'm very happy. Next year, who can say?

I'm late thirties, many years no claims, a single three-pointer for speeding four years ago, sole driver of a 2001 2-litre Ford Focus, comprehensive insurance (chosen for no-claims discount protection purposes) - what am I doing right?

Share this post


Link to post
Share on other sites

Just been talking to a girlfriend (early 60's) who lives in darkest and deepest Monmouthshire. She did have a prang last year but the insurers did pay up (bumper problem). Has just received renewal notice - her premium has escalated from £360 to a staggering £1,058. Absolutely outrageous.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.