Insurance companies: Are they from another planet?!

[Sonia406]

OK, so using Parkers as a guide, MIss Pug is insurance group 37. Mr Pug is insurance group 39.
I rang my insurance to see what a quote they could do it for (bare in mind I've already been through a price comparison website who stated it's cheaper than Miss Pug.
Anyhow... They've said I need to pay an extra one off payment of £400.

''Well you are jumping up an extra 6 groups''
What?! Your currently on group 40, and this new car is in group 46.

Anyone would think I was trying to insure a Bugatti veyron or something

Anyway, rang the RAC who turn out cheaper to insure the new car with, saving myself £600.
No black box needed, one off payment to get the thing started.

It's not good to cancel insurance is it?
I rang up my insurance to see how much it would be to cancel and got confused when something about a loan was mentioned... pretended I understood and hung up.

Moral of the story, insurance companies set their own groups up. What one company see as a car belonging and priced in a Group 30 for tax, another company may put in the Group 35 for insurance.

Makes no sense to me - can any of you boys work it out?

[steve_earwig]

Did you pay for the insurance on some kind of payment plan? Only thing I can think of anyway.

Yes, they make it up as they go along. It's super expensive here, I suspect that it's a cartel but it might be more to do with the average Croat's appalling driving skills...

This was on MSE (they email me, looks interesting but most of it's useless where I am) - head for the stuff about using comparison sites.

[lozz]

Peugeots have always been high on insurance,
if you ask them why normal excuse is, because of the cost of parts /repairs if theyre damadged.
but compare the price of insurance of a citroen to a pug vast differnce, same tin basicly

as of its not good to cancel insurance?
no it aint but ringing them up and saying your intending on canceling because your premiums are too high
normaly gets them to ask you to hold the phone whilst they go talk to there pretend manager,

igot a fair few quid knocked off by telling them im canceling,
Theyre all Brokers/number crunchers. so my guess is they work off comisions for doing sod all so they can afford to trim off a few quid here and there

[Sonia406]

Did you pay for the insurance on some kind of payment plan? Only thing I can think of anyway.

Yeah, instead of paying one lump sum I've been paying per month...

[Sonia406]

Don't want to cancel insurance if they're still going to make me pay the rest of the money owed to them, might as well just keep her until the insurance agreement ends... if you see what I mean..

[steve_earwig]

I'm not sure how that works but perhaps they treat it like a loan, you know, pay off the full insurance premium with the loan up front, then charge you repayments plus interest (and a little bit for them on top) monthly. That's how I'd do it anyway

Edit: I'd still work it out, what you'd actually pay for it overall. If they want to charge you 400 quid for the upgrade it must be worth checking.

[lozz]

Add another driver to the policy.

the wifes insurance came in at 2800 quid. = (0 years NCB) got it down to 670quid with me added to it

[Sonia406]

Add another driver to the policy.

the wifes insurance came in at 2800 quid. = (0 years NCB) got it down to 670quid with me added to it

You're absolutely right... I've just done a quote to add Dave to my policy and shaved a further £200 off the RAC quote
Just 'cos he's added doesn't mean he will be driving it

[lozz]

Are you getting that off line,or by phone,?

iwouid ring them, Haggle with them over the phone,

[Sonia406]

Are you getting that off line,or by phone,?

iwouid ring them, Haggle with them over the phone,

Online, via Money supermarket...

[lozz]

Are you getting that off line,or by phone,?

iwouid ring them, Haggle with them over the phone,

Online, via Money supermarket...

Ring em!!

trust me you will get it cheaper if you haggle abit,

[Sonia406]

Are you getting that off line,or by phone,?

iwouid ring them, Haggle with them over the phone,

Online, via Money supermarket...

Ring em!!

trust me you will get it cheaper if you haggle abit,

Thanks Lozz... I'm not a good haggler... I rang them up earlier to check the RAC quote and they just confirmed the price, and even my insurance company for Miss Pug said they couldn't lower it.... utter rubbish by all means but still - I can get it less than half price elsewhere.......

[rwb]

They're utter crooks... but not as bad as the speed camera barons.

I believe the monthly payment is done as a loan; if I recall correctly there is an interest charge and you get quoted an APR.

Fully comp. can be cheaper than tpft, and I'm told that cars valued at under £1000 attract higher premiums. My 406 is worth £1,500. (Which is actually about right if I had to find another tomorrow in similar condition, i.e., if I was being ripped off.)

Why is cancelling insurance bad?

Two companies advertise on this site: Chris Knott and Prestige. I've spoken to Chris Knott (not in person!) and they were very helpful, they agreed to match my current quote but allow a remap. I'd have to check but I expect they have a better policy too. Prestige were utterly crap at nearly twice my current quote.

[steve_earwig]

Prestige were utterly crap at nearly twice my current quote.

Swings and roundabouts innit, it just depends what sort of business they're trying to pick up.

[Doggy]

Definitley agree on additional driver - including Mrs Doggy reduces my premium by about 30%.
Anyone who's seen her drive would shake their head in wonder.