Petrol V Diesel Insurance Prices

lobber

Why is it Insurance Companies charge more on premiums for Diesel cars?????

nogoodnamesleft

Didnt realise they did?

Premiums have risen considerably in the last 12months (only renewed my own policy on Monday) went up by 160euro. I have had no claims on my license driving for 8 years, 5 in my own name.

Person I was dealing with said there has been a lot of claims with the recession. Apparently they are due to rise again in Jan both house and car insurance. Recon it might have something to do with all the flooding.

BlackWizard

They mentioned insurance increases months ago. Before the floods.

A lot of the money these companies make is from the markets. They invest the money we give them. So they need some way of keeping themselves going when the markets are quiet and there are few investment opportunities.

Henry Ford III

Diesels tend to be bigger cubic capacity. They are/were more expensive to buy (and replace) than their petrol equivalents. Modern ones have stronger performance in some areas.

Long Onion

I don't think they do to be honest - they look at the insurance grouping, the claims history, cost of repair, the area you live and work in, the mileage, the occupation, age, length license held, NCB - but not the fuel type.

It's probably just coincidental.

R.O.R

Henry Ford III wrote: »

Diesels tend to be bigger cubic capacity.

I'd say it's as simple as this.

Last time I changed insurance from a 180bhp 1.8 Turbo, to a 2.0i N/A car, the cost went up because it's a bigger engine!

kodute

R.O.R wrote: »

I'd say it's as simple as this.

Last time I changed insurance from a 180bhp 1.8 Turbo, to a 2.0i N/A car, the cost went up because it's a bigger engine!

Pretty much.
A few insurance companies wont even quote you on big engines( =>2ltr :rolleyes: ) unless you have a number of years driving exp. Yes even if your car is slower than a tractor

Pkiernan

The reason is that diesel cars tend to be driven more kms per year than petrol cars, and therefore the likelihood of being involved in an accident are increased.

In this case it is purely statistical.

kodute

Pkiernan wrote: »

The reason is that diesel cars tend to be driven more kms per year than petrol cars, and therefore the likelihood of being involved in an accident are increased.

In this case it is purely statistical.

Surely this reason has gone out the window with everyone from Joe Bloggs to Nana Nun getting a diesel car because the are low on tax?

galwaytt

Long Onion wrote: »

I don't think they do to be honest -.

...yes they do. Changed insurance from 3.0 Porsche to 1.9TiD Saab and insurance went up by Eur 195.

Long Onion

galwaytt wrote: »

...yes they do. Changed insurance from 3.0 Porsche to 1.9TiD Saab and insurance went up by Eur 195.

Possibly - but not because it was a diesel - there are numerous other factors as I explained above. There would be an admin fee for changing cars mid policy, the insurer may have a bad claims history with the Saab, new increased rates may have been applied since you insured the porsche, what were the respective vehicle values?

It would be, in my experience of having worked for a large UK insurer for a number of years, inaccurate to say that the price increase is down to the fcat that it is diesel - had you bought a 1.5dci megane, would the cost have gone up - unlikely but that is diesel also, same for a yaris d4d etc.