Brook_lands
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| posted on 20/3/08 at 08:43 PM |
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Insurance Hike
Just got the renewal reminder for my 2ltr pinto engined Locost. 3000 miles per year, value £2500. Its £176 up from £125 last year, 40% increase!!! So
what have I done this year? Made a claim - no, got points - no, been convicted of anything - no, changed job- no, moved house - no. In fact the only
thing that's changed is that I'm 1 year older.
Seem to have to change insurers every year in the tintop, guess I'm going to have to do the same with the Locost.
Who's giving good deals at the moment. Mind you the weather is so cr@p at the moment I might just not bother for now.
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Hellfire
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| posted on 20/3/08 at 08:48 PM |
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Insurance companies almost always increase annual renewal premiums. If you become complacent, then ultimately you lose out.
Ring round the usual suspects, get a better quote and then go back to your current insurer and ask them to beat your lowest quote otherwise
you're taking your business elsewhere.
Customer loyalty counts for very little these days with insurance companies 
Phil
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graememk
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| posted on 20/3/08 at 08:48 PM |
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sureterm was good for me
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speedyxjs
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| posted on 20/3/08 at 08:48 PM |
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I had the same thing with the tintop insurance last year. Up from £1200 the £1287, so i phoned them up and got £200 knocked off 
How long can i resist the temptation to drop a V8 in?
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Kriss
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| posted on 20/3/08 at 08:49 PM |
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There are two contributers to the way your insurance has increased
the market against the market lol!
I have worked along side new pricing structures at a high level for MORE TH>N.
The market dictates that within reason and level of cover, you need to eb the cheapeast in order to get the customer to buy.
But what you reduce from your premium in yr1, you need to make up over the coming years. however, as most people only stay with their insurer for a
2-3 yr period, this collected of "owed" premium is attempted to be claimed back in a shorter time period. (R1 (renewal 1) and R2)
Rewind, 15 or even ten years and it was a different story. Affiliates did not exist, everyone was too scared to buy from the net (or have access) and
aggregator etc did not exist.
That completes this weeks instalment of Locost Insurance academy 101
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Stuart_B
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| posted on 20/3/08 at 08:53 PM |
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i was looking for insurance i could only find two cars that would cost less than £2000 to insure, it madness, the cars where only worth about £800.
I could by enough car if it got nicked.
stuart
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trextr7monkey
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| posted on 20/3/08 at 09:02 PM |
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We'll be sticking with Graham Sykes for our kit insurance - much the same as last year
though we might take up their £20 roadside assistance (having ditched the AA who were also ripping us off badly by"Thinking" of a number
at renewals time.)
<3k miles, fully comp, 1600 x flow, age errmmm, £126 including £6 documentation fee (wtf?) £20 roadside assistance, and £15 for claims management
scheme ( Not worth it?)
jago jeep not locost
http://www.flickr.com/photos/14016102@N00/ (cut and paste this dodgey link)
Our most recent pics are here:
http://s129.photobucket.com/albums/p211/trextr7monkey/
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JimGTI
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| posted on 20/3/08 at 09:17 PM |
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i've only just bought my locost and being 25 with no no claims (used on my other car) vehicle value 3.5K it was only £230 fully comp which i
thought was really cheap...
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BenB
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| posted on 20/3/08 at 09:56 PM |
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You've got two options
1) bend over and take it (ie pony up the money)
2) ring round the usual suspects and save some cash....
Insurance companies will give you a good deal to get you on board and then hope you're too lazy to do 2) when they hike up the premium the year
afterwards.....
I rang round then rang back my insurer (Flux) and they wacked about 40% off my premium to match my cheapest quote (Graham Sykes)....
Proper job
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Kriss
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| posted on 20/3/08 at 10:11 PM |
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I am with Flux. They beat my best quote by £10, £45 brakdown cover, agreed value and no security requirements
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Brook_lands
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| posted on 20/3/08 at 10:57 PM |
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I'll be on the phone next week. Even if your current insurer matches the best quote you find why would you want to stay with a company who is
happy to shaft you unless you are prepared to do some work and then argue the toss. OK it saves a bit of paperwork but it still demonstrates
considerable contempt for the customer. Running the thing is costing me about 5 times what it cost to built. (£125 per year to build, £600 a year to
run)
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DarrenW
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| posted on 20/3/08 at 11:40 PM |
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I use Osborne and Sons. some will say not the locost choice. They trusted me when i built so i have honoured them with repeat business twice. Ive just
had a reduction in premium. Renewal based in 5K years reduced from £195 to £175. I took a policy with 3K miles @ £166. Well happy. 36 yo after moving
to higher premium area. 120bhp @ wheels pinto monster.
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jacko
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| posted on 21/3/08 at 10:37 AM |
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Can we do a list of insurance companies and prices to compere
Im with a/flux 2l pinto /age 52 price £145
3000miles value car price £5000
[Edited on 21/3/08 by jacko]
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DarrenW
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| posted on 22/3/08 at 11:31 PM |
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quote:
Originally posted by jacko
Can we do a list of insurance companies and prices to compere
Im with a/flux 2l pinto /age 52 price £145
3000miles value car price £5000
[Edited on 21/3/08 by jacko]
Give ower Jacko - 52 my arse. Maybe 42 Ill grant you a long paper round but not overegging the candles
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OX
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| posted on 23/3/08 at 11:26 AM |
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fluz have just sent me some paper work to renew my insurance
age 33-mk hayabusa-value of car £11000-
3000 miles-price £189
i think thats what i paid last year so i'll be staying with them
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wicket
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| posted on 23/3/08 at 11:45 AM |
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Footman James
Fully comp, me policy holder 65yr + son 35yr, roadside assistance, 1500mls/year, £5000 value, current year premium £128.
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