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Car insurance - rip-off twats


Guest Howaythetoon
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Guest Howaythetoon

Bit of a rant....

 

On the 31st of December 2011 my car insurance was up for renewal. Previously I was paying £910 per year for my Saab 9-3 which I thought was a great price considering at the time I bought the car and insured it, I had only had my licence 1 month. The excess was quite high, something like 4K I think, hence the reasonable price for a first-time driver, but either way it was a good price. Fast forward 12 months later though and the same insurance company (insureyourmotor.com) were asking for nearly 17 hundred quid to renew my insurance despite having 1 years no claims bonus and the car's value dropping also.

 

2 Weeks before my renewal that very company quoted me 14 hundred quid. I asked how come nearly 300 quid has been knocked off in the space of 2 weeks and their reply was because they didn't want to lose me and valued me as a customer. I refused to accept their quote. A week before the insurance ran out they requoted me 13 hundred quid. Again I said no.

 

Anyway I have since renwened my insurance on the Saab (tonight in fact) for just over 1K which although 100 quid plus more than I was originaly paying a year ago, is a damn sight better than the almost 17 hundred I was originaly quoted by my old insurance company a month or so back.

 

What gets me though is how can there be such a huge gap in prices from one insurer to another. Its all a big con if you ask me and it needs looked into by the powers that be. There should be a set price or a rough price for say a 32 year old male with 1 years no claim bonus with a licence for 1 year living in X postcode and driving a Saab 9-3 worth X ammount. To go from 17 hundred quid to 700 less in 2 weeks from one insurer to another is fucking ridiculous.

 

What is even more ridiculous is the price I pay to insure my BMW (200 quid) which will do 150mph, can be stolen with a spoon and in the wet, is arguably the most dangerous car ever, especially for someone who has only had their licence one year. A car that is also much sought after and therefore more likely to be considered as something worth stealing unlike the bland Saab. And all because the BMW comes under classic car. Fucking bull shit.

 

How can one car cost 200 quid to insure despite being easier to steal, much quicker and therefore likely to be driven quicker and also much more dangerous and you could even argue much more valuable, and the other an extra 800 quid more despitebeing almost unstealable, slow and fucking not so valuable? I put down the same miles for each car by the way, less than 6,000 a year which is what I do in the Saab and the BMW.

 

Anyway, I've proved that on renewal your insurance company will try to take the piss, but wait a week or two after renewal date ends and you'll save quite a few quid as I have done.

 

Fucking twats.

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Guest ObiChrisKenobi

They make it up like and get away with it. Always felt the companies abuse their position since its the law we NEED to have insurance.

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Guest Howaythetoon

 

Aye, I'd vouch for that.

 

Another thing is you will insure your car with X company and a few days later another company, usually a credit company will send you a thankyou letter for buying insurance from them?!

 

I usually pay my insurance annually but this time I'm paying monthly, 90 quid plus extra due to the piss taking interest but least I'm not tied down.

 

It is all a big con.

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Guest Howaythetoon

When we get a renewal quote that we can get them to go cheaper on...we tell them to f*** off. They should offer their minimum from the off.

 

Not long ago our renewal was £500 more than going to the very same company as a new customer (via one of those comparison sites).

 

If insurance is a legal requirement (which is fair enough) then their should be standardisation and caps made by the very same law makers...

 

....yeh right :yao:

 

Agreed completely.

 

I actually did a dummy run as someone else using another reg from a similar car using similar details with Insure your motor and the quote was a lot less which shows they just pluck numbers out of the air.

 

They know come renewal time people have to have insurance and use that to ramp prices up but I say sit it out if you can which is what I've done.

 

My poor nephew, 18 years old, had his licence a year, we went to buy a shitty 1.3ltr Hyundai for him but to insure this 10 year old car was gonna cost 6K. Fucking mental man and sheer robbery.

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Guest ObiChrisKenobi

And then there's the bullshit hoop jumping you go through to claim back any insurance... even if the accident wasn't your fault.

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I insured my Saab 9-3 for just £400 this year. £1100 seems an awful lot to be paying in insurance. Did the insurance company maybe find out about your track record of reversing into old ladies' cars and giving them whiplash? Might explain the premium.

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Guest Howaythetoon

The main reason I've never learned to drive. Absolutely absurd that you pay a huge amount of money to cover you, go a whole year without needing that cover and then lose that money and have to pay an extortionate fee AGAIN to cover you another year. Where has that money you paid gone?!

 

God knows.

 

There is a dynamic insurance company waiting to be set up out there that if done right could make a killing yet also help drivers.

 

I paid 910 quid last year. A year later no accidents no nothing. That price should then be halfed. Keep that rate going for 3 years say and get 6 months free insurance on the 3rd year. Keep it then at a steady 300 quid per year. money for fucking nowt. That's how it should be.

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I insured my Saab 9-3 for just £400 this year. £1100 seems an awful lot to be paying in insurance. Did the insurance company maybe find out about your track record of reversing into old ladies' cars and giving them whiplash? Might explain the premium.

 

:lol:

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Guest Heneage

The main reason I've never learned to drive. Absolutely absurd that you pay a huge amount of money to cover you, go a whole year without needing that cover and then lose that money and have to pay an extortionate fee AGAIN to cover you another year. Where has that money you paid gone?!

I agree and think your logic is sound if you live in a city, but having lived in the country for my most of my youth, learning to drive was a necessity.

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Guest Howaythetoon

I insured my Saab 9-3 for just £400 this year. £1100 seems an awful lot to be paying in insurance. Did the insurance company maybe find out about your track record of reversing into old ladies' cars and giving them whiplash? Might explain the premium.

 

That claim wasn't successfull thankfully.

 

The reason its so high apparently is because I'm still considered a new driver, I'm self employed and my car is quite expensive or rather new. I did argue that my circumstances were the same for the BMW and although it isn't as new as the Saab its still an expensive motor. They just babbled on about classic car insurance being less and what have you.

 

I've been told that my insurance premiums will always be on the high side until I get to 4 years no claims at least. That and change my postcode which is frankly fucking ridiculous because cars are far more likely to be stole in affluent areas. But even then my car is fucking garaged, has an immobiliser and being a Saab, has no real conventional ignition system so is basically very very tough to steal. Again its just a rip off.

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I insured my Saab 9-3 for just £400 this year. £1100 seems an awful lot to be paying in insurance. Did the insurance company maybe find out about your track record of reversing into old ladies' cars and giving them whiplash? Might explain the premium.

 

That claim wasn't successfull thankfully.

 

The reason its so high apparently is because I'm still considered a new driver, I'm self employed and my car is quite expensive or rather new. I did argue that my circumstances were the same for the BMW and although it isn't as new as the Saab its still an expensive motor. They just babbled on about classic car insurance being less and what have you.

 

I've been told that my insurance premiums will always be on the high side until I get to 4 years no claims at least. That and change my postcode which is frankly fucking ridiculous because cars are far more likely to be stole in affluent areas. But even then my car is fucking garaged, has an immobiliser and being a Saab, has no real conventional ignition system so is basically very very tough to steal. Again its just a rip off.

 

The real worry of course as a Saab owner is that they've gone into liquidation, meaning their residual value plummets through the floor. Anyone with outstanding finance on a Saab needs to think seriously about getting shot of the car as soon as possible. Negative equity in a car is no laughing matter, but when you consider they'll soon be selling "new" stock off at bargain basement prices, it's equivalent to financial crucifixion. Your insurance premium may soon be higher than the value of your car.

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Guest Howaythetoon

I insured my Saab 9-3 for just £400 this year. £1100 seems an awful lot to be paying in insurance. Did the insurance company maybe find out about your track record of reversing into old ladies' cars and giving them whiplash? Might explain the premium.

 

That claim wasn't successfull thankfully.

 

The reason its so high apparently is because I'm still considered a new driver, I'm self employed and my car is quite expensive or rather new. I did argue that my circumstances were the same for the BMW and although it isn't as new as the Saab its still an expensive motor. They just babbled on about classic car insurance being less and what have you.

 

I've been told that my insurance premiums will always be on the high side until I get to 4 years no claims at least. That and change my postcode which is frankly f***ing ridiculous because cars are far more likely to be stole in affluent areas. But even then my car is f***ing garaged, has an immobiliser and being a Saab, has no real conventional ignition system so is basically very very tough to steal. Again its just a rip off.

 

The real worry of course as a Saab owner is that they've gone into liquidation, meaning their residual value plummets through the floor. Anyone with outstanding finance on a Saab needs to think seriously about getting shot of the car as soon as possible. Negative equity in a car is no laughing matter, but when you consider they'll soon be selling "new" stock off at bargain basement prices, it's equivalent to financial crucifixion. Your insurance premium may soon be higher than the value of your car.

 

Without doubt.

 

I bought mine with cash and although being a car nut I keep wanting a new car every week, I think I'll just keep mine for 2 more years max and then part ex it. It will be a low miler and well looked after so will retain more value than your average Saab, not that that's saying much.

 

On the plus side, there are going to be some top quality Saab's on the market for pennies compared to what they would once cost, either new or second-hand.

 

I've been looking at the new 95 prices and they are falling massively.

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Know that feeling bro. Haven't passed my test yet, but was looking at a 2001 Audi a4 and the Moneysupermarket App was throwing out prices of £4k plus. :yao:

 

That's normal, you may think. But then I was quoted £3500 for a 1.1 2008 Corsa.

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