Car Insurance

[alxgb]

I did a test in the UK, in London in fact so not some rural community for an easy test.

Surely a test in London is easier as the traffic doesn't move?

They're slightly out in places like Hendon so when I did it years ago, it was equivalent to busy suburbia. You still get your share of traffic but given how intolerable traffic is in London now, I don't know if that has rippled out and impacted the test centres.

[Wing Commander]

That's a scandal, Alex. Does that apply to all insurers that you've tried?

Difficult to gauge but when the question is asked, I assume that it infers that. Try confused.com and vary the birth date, that's how I discovered it years ago as I was trying to deconstruct the illogical premium I was being quoted.

I put the question to an actuary I know who doesn't deal with risk at this level but for marine insurance but he is still more informed than me. He said there would have likely been enough of a correlation with a data set to 'justify' the question based on claim data and not all insurers would weight in the same way based on their risk profile. Once a data question has been established, insurers share data and to have as much information about you helps underwriters to assess risk.

Same for garaged car versus on street in London. More expensive in a garage. Greater risk of a bigger claim in a garage whereas the incidental damage you get in London usually leaves cars under the claim threshold or not significant enough to justify a claim based on NCB impact.

So frustrating when these things appear to defy logic.

[alxgb]

That's a scandal, Alex. Does that apply to all insurers that you've tried?

Difficult to gauge but when the question is asked, I assume that it infers that. Try confused.com and vary the birth date, that's how I discovered it years ago as I was trying to deconstruct the illogical premium I was being quoted.

I put the question to an actuary I know who doesn't deal with risk at this level but for marine insurance but he is still more informed than me. He said there would have likely been enough of a correlation with a data set to 'justify' the question based on claim data and not all insurers would weight in the same way based on their risk profile. Once a data question has been established, insurers share data and to have as much information about you helps underwriters to assess risk.

Same for garaged car versus on street in London. More expensive in a garage. Greater risk of a bigger claim in a garage whereas the incidental damage you get in London usually leaves cars under the claim threshold or not significant enough to justify a claim based on NCB impact.

So frustrating when these things appear to defy logic.

We'll all be driving milk floats or rather they'll be driving themselves for us and then the insurance highwaymen will be out of a job. The single greatest gift of autonomous electric cars.

[Wing Commander]

[SAC1]

Well as it's still raining post Easter......I wasted some time today getting insurance quotes for my soon to be 1 year old Macan. After using the various comparison sites, the direct quote only companies and my current insurer LV=. Here are my results for like for like cover and the same level of Excess:

NFU as highly recommended on here.... £450.....that does include roadside assistance, but my Macan is still covered by Porsche.
Axa £651 - the dearest
Esure £347 - the lowest, but not so confident in them

BUT....
LV= once again came up trumps with £340

I have to say that I used to change insurer every year to get the best cover / value. But since 2014 LV= have been the best, previously for my Merc E-coupe and now for the Macan.

Also LV= are best value for our SEAT Leon FR at £100+ less than others this year. Previously it was Admiral etc.

I do not pretend to understand how the motor insurance world works, but do find the spread of costs worrying. Especially for motorists that do not make the time and effort to check on each renewal anniversary.

[Hawkeye]

I was very surprised when I changed my insurance from Macan SD to the Giulia QF. I was 5 months into my current policy when I changed. The QF was worth more and 11 insurance groups higher, so naturally ........ I got a refund of £36 for the remaining period!

Maybe there’s an inbuilt assumption in the algorithm that the Alfa will be off the road for big patches of time being repaired!!?

[Col M]

I was very surprised when I changed my insurance from Macan SD to the Giulia QF. I was 5 months into my current policy when I changed. The QF was worth more and 11 insurance groups higher, so naturally ........ I got a refund of £36 for the remaining period!

Maybe there’s an inbuilt assumption in the algorithm that the Alfa will be off the road for big patches of time being repaired!!?

Yep allowing for the complete model recall in June

[jk88]

Just had the renewal from NFU in the post today for my GTS. Opened the envelope with a degree of trepidation ...

Last year £361

Next year £284

Result

[Paul]

...the exception that proves the rule but good news nonetheless.