Motoring Insurance Woes

100gSoma

My policy has just come in for renewal. It's jumped from 833euro to 1,366euro. Surely 64% increase seems a bit much even given the current market?
I have 8 years No Claims, and 8 years full license and I'm 30.
I rang around and no other company is taking on my type of car for "new business" as it's a 1999 Jap Import. Only one other institution would quote me, and that was 1600 direct or 1300 & 1400 through brokers.
Bottom line is, I'll now need to offload the car very cheaply(to move it) in the next 3 weeks. I rang the company to ask was a 64% increase some mistake? I obviously knew it wasn;t, but wanted to hear what they said. The guy laughed at me. And then said "your not the only one, believe me" as if that somehow qualified the increase. I'm sickened about this now. anyone got any magical links to an insurance company that will insure a jap import for new business.

GalwayKiefer

I'm insured with Setanta Insurance through McSharry Foley Insurance Brokers up in Sligo - (071) 914 2499. I've a comm Jap 4x4 that they'd never heard of before but they figured the grouping it should be in and gave me full comp cover no problem. Its due for renewal this month too and has gone down €120 from last year, might be worth a shot you contacting them.

100gSoma

Thanks. I'm waiting on one broker (O Malley Griffin) to come back to me. A friend got insured with them through Setanta on the same car. Hopefully they can offer something.

JJ

I'm over 30, have 5 years no claims and my insurance last year was between €300-€400. I was driving a 94 Toyota up until recently as well. My insurance is due for renewal next month and I haven't gotten any quotes yet but I've gotten good rates from AA and bestquote.ie over the past few years.

brettmirl

My insurance is up for renewal at the moment.

Yesterday, I rang Aviva twice. Gave the EXACT same details both times, to two different operators, and got two different prices for fully comp.

€550 from the first call and €672 on the second call.

Do they just spin a wheel in these call centres to come up with a figure?

seanyleary

Changed my insurance company last time round, 850 euro back 550. i pays to shop around. thats on a 2.8 v6 bmw with axa.

ogriofa

Hi
What make is your car? Were you being clever calling it jap import, is it a tank?
I cant believe your premia, mine is 3-400 max.
Who are you insured with?
I agree with the last poster, Ive had that experience.
Unless youre driving some kind of "evo" you are paying way over the odds
G'luck

JJ

Also, when I first started driving my insurance was just over €1,000 and that was with a 1990 Golf with a 1.3 engine. I shopped around and Hiberno, now Aviva, gave me the best price and only on the condition that I took a safe driving course. So if the OP has 8 years no clams, he shouldn't be paying over €1,000.

100gSoma

ogriofa wrote: »

Unless youre driving some kind of "evo" you are paying way over the odds
G'luck

Hi guys, yep, I have 8 years NCB and 8 year full license and am over 30 so yes I SHOULD NOT be paying opver 1k. my feelings exactly. The mystery car is nothing crazy. a 2.0litre 1999 FTO GPR. 200bhp. FWD. not some mad Evo or turbo rear wheel driven car.
The only insurance companies offering a quote are Quinn who I am with which bumped my renewal 64% from 830 to 1366euro (due end of march) and AXA who offered me 1600euro! can you believe that. I could ensure a porsche cheaper I'd say.
Apparently no insurers want to take the FTO as new business. I don't know why? maybe because it's an uncommon car? The regulator suggested to me that parts can be hard to get for these imported cars and that's why they don't like to take the risk.
I logged into the Quinn site and noticed that my policy has "open drive" by defualt. meaning any person with full license and aged 25-70 may drive my car. I changed this to "named policy holder only" and it came down to 1019euro. still, I think this is too much given my experience, age, and the car that it is.

Toots

Moving to Motors, it's probably better suited there I think.

Atlantic Dawn

Problem is that particular car can be robbed in seconds without the key, this is likely the reason why there's such a loading, most likely in the last year lots of FTO's or Jap Imports have been robbed and the insurance company doesn't want to touch them. If you call for a quote for a 2 litre Volvo, Merc etc etc worth 3 or 4 times as much I am guessing the premium will be a fraction of that quote you got, it's all about the risk.

kravmaga

100gSoma wrote: »

My policy has just come in for renewal. It's jumped from 833euro to 1,366euro. Surely 64% increase seems a bit much even given the current market?
I have 8 years No Claims, and 8 years full license and I'm 30.
I rang around and no other company is taking on my type of car for "new business" as it's a 1999 Jap Import. Only one other institution would quote me, and that was 1600 direct or 1300 & 1400 through brokers.
Bottom line is, I'll now need to offload the car very cheaply(to move it) in the next 3 weeks. I rang the company to ask was a 64% increase some mistake? I obviously knew it wasn;t, but wanted to hear what they said. The guy laughed at me. And then said "your not the only one, believe me" as if that somehow qualified the increase. I'm sickened about this now. anyone got any magical links to an insurance company that will insure a jap import for new business.

Try www.123.ie

kildarelad

I have a Honda Integra DC5 myself.Have six years no claims no penalty points and no convictions and have a full License for six years.Im 24 my insurance on the Integra was 1000 last year fully comp its up for renewal now and its 1600

746watts

GalKiefer wrote: »

I'm insured with Setanta Insurance through McSharry Foley Insurance Brokers up in Sligo - (071) 914 2499. I've a comm Jap 4x4 that they'd never heard of before but they figured the grouping it should be in and gave me full comp cover no problem. Its due for renewal this month too and has gone down €120 from last year, might be worth a shot you contacting them.

+1 for setanta too, i just got renewal letter last week from fbd and it was up a good 150 on last year. so i shopped around a a local broker got me fully comp with NCB protect for 210 less than renewal FBD figure (tpft).

Jack280

sry for this bump, but I have the same problem !

Maybe somebody found in the meantime a good broker or a good quote for an jap import.

I've 5+ NCB (basically 10 years) , 01 Subaru Legacy B4 RSK unmodified

best quote atm is 1100 Euro from hibernian

axa quoted me 1600 Euro

the highest was 2300 Euro. :eek:

fbd sent me the proposal form last friday with 900 euro today the called me that it was a mistake. they apologised and told me that they will not insure my car. :mad:

Ridiculous !

I was insured with AIG , now Chartisdirect. No chance anymore !

And the rest couldn't or wouldn't insure me !

I called First Ireland, got 3 different quotes from 3 different agents, and told them to send me the proposal form. Have still nothing in my postbox !

I'm really desparate !

So , any help appreciated !

Thanks

Jack

mickdw

Jack280 wrote: »

I was insured with AIG , now Chartisdirect. No chance anymore !

Why do you say this? Will they not cover you again?

clarke1991

i know how you feel, i had to renew my insurance friday. gone from 1200 to 1580:o:mad::eek:

Anan1

Jack280 - Do the IAM test, Hibernian give 30% discount for it.

mondeo

Anan1 wrote: »

Jack280 - Do the IAM test, Hibernian give 30% discount for it.

I got my insurance renewal on my Volvo S80 last week. I paid 450 last year and this year it's 530. I'm 28 with 5+ yrs no claims. I was bitching about it earlier but since I have seen everyone else is paying much bigger increases then me I feel alright about it now.

Jack280

mickdw wrote: »

Why do you say this? Will they not cover you again?

no, I called Chartisdirect , cos my address has changed and to get a quote for my renewal.

the guy on the phone told me , that they will not insure jap imports.

AIG was last year, this year is Chartisdirect ! Simple as that !

Jack

bmw535d

ok now your chatting **** coz bmw dont do v6's,,straight 6 more like

mickdw

Jack280 wrote: »

no, I called Chartisdirect , cos my address has changed and to get a quote for my renewal.

the guy on the phone told me , that they will not insure jap imports.

AIG was last year, this year is Chartisdirect ! Simple as that !

Jack

oh ok. Just wondering as Im considering going with Chartis this year. quote is exactly half that of Axa after being 10 years with axa claims free apart from 2 windscreens.

Anan1

bmw535d wrote: »

ok now your chatting **** coz bmw dont do v6's,,straight 6 more like

You might tone down the attitude a bit, thanks.

mickdw

bmw535d wrote: »

ok now your chatting **** coz bmw dont do v6's,,straight 6 more like

And I bet you have a twin turbo stright six?

Anan1

Let's all keep it on-topic.

bmw535d

ya ok

and yea i do:)but you wouldnt call it twin turbos cos der not twins.one big one small;)

MojoMaker

The message in all this might be to start considering offloading all those plastic japanese cars that seem to be childs play to steal and perceived as being continuous candidates for 'unwanted attention'. Maybe this is the insurance industry's way of saying Bye Bye to a risk they simply don't want?

Premiums for several other marques are actually falling and the market is quite competitive right now - if you're AAA+ on their profile rating system.

mickdw

bmw535d wrote: »

ya ok

and yea i do:)but you wouldnt call it twin turbos cos der not twins.one big one small;)

I wanted to come back and say they were not twins.

rebel.ranter

I am considering changing from a BMW 525i (e39) to a BMW M3 (e46) convertible, got a quote last week, my policy will more than double from €430 fully comp to €896 fully comp! (I have a 320i convertible that is only €417 fully comp so it's not the convertible element that's driving it up.)
My point is that some cars just attract a ridiculous loading & there is nothing that can be done to avoid it.
I also noticed over the years that in some cases it could be cheaper for someone to insure a 7 Series than a Civic VTec despite the 7 having a bigger engine & more BHP. Funny old world...

garwalt

bought an e46 m3 few weeks ago then got my renewal in the post last week. gone from 1900 to 2900. was driving a 325ci before the m3. went to 123 and got it for 2000. nowhere else would insure me they say you have to be over 30 to get insured on it.

seanyleary

seanyleary wrote: »

thats on a 2.8 v6 bmw with axa.

What sort of BMW do you mind me asking ?

mickdw

Here is a good one. Got my renewal quote from axa. €1200 approx from 760 last year. Got onto them and with much huffing & puffing offered it for €1000. So anyway Im shopping around and have a quote at just over 500 but I went onto axa online system & picked options as close to my current policy as possible (little extra excess) & it quoted less than €800. I then rang the office I usually deal with & after a few hours, they came back saying they would honour the online quote (As if they had a choice) & that the reason for the difference was that the online system was putting my car into a lower/different grouping than they were and the lower grouping was correct. If fact they appear to claim that both groupings are correct?
It appears to me that they are simply loading the premium of long term customers as they are less inclined to move insurers. Its pretty poor behaviour and considering my original quote included 160 'loyalty discount', they really are taking the piss

EPM

mickdw wrote: »

It appears to me that they are simply loading the premium of long term customers as they are less inclined to move insurers. Its pretty poor behaviour and considering my original quote included 160 'loyalty discount', they really are taking the piss

That's it in a nutshell.

I had that very conversation with Hibernain last renewal. The guy at the other end of the phone couldn't give me an expanation. I had no intention of renewing with them anyway but enjoyed the argument.

ash23

mickdw wrote: »

Here is a good one. Got my renewal quote from axa. €1200 approx from 760 last year. Got onto them and with much huffing & puffing offered it for €1000. So anyway Im shopping around and have a quote at just over 500 but I went onto axa online system & picked options as close to my current policy as possible (little extra excess) & it quoted less than €800. I then rang the office I usually deal with & after a few hours, they came back saying they would honour the online quote (As if they had a choice) & that the reason for the difference was that the online system was putting my car into a lower/different grouping than they were and the lower grouping was correct. If fact they appear to claim that both groupings are correct?
It appears to me that they are simply loading the premium of long term customers as they are less inclined to move insurers. Its pretty poor behaviour and considering my original quote included 160 'loyalty discount', they really are taking the piss

Online quotes are cheaper as the client does the leg work, not the insurer.

All products offered by an insurer are not the same. They have different online rates, different broker rates, different rates for different products.
It's not like someone manually does the renewal.
The rates are loaded and the renewals print automatically based on the product you purchased at inception.


For Eg (based on experience in a broker) I might incept a policy from Zurich which is the most competitive. Lets say it's a "Ladystar" policy.
A year later the renewal comes in and I requote it. And Zurich "Motorgold" product has lower rates this year.
It is basically a different product but the rates this year means it's cheaper for that particular client. But another lady might find Ladystar cheaper. It depends on the client.

Thats why you should always call the company and discuss the renewal. They go out automatically (unless from a broker) and it takes a staff member with good knowledge to tweak it in order to get the best price.
It's not like we sit around poring over the renewals and see who we can screw over :rolleyes:
I wish there were a better way but the way it is, underwriters examine risk and a million other things, produce their rates, load them into the system and hey presto, premium generated. Then there are discounts, amendments etc which can be made to get the best premium but this is where the trained staff come into play. And as much as people hate getting their renewals, we hate listening to people giving out about them even more. Of course the staff want to bring the premium down and keep the business. Our jobs depend on being able to do that. But sometimes there just isn't anything that we can do, our hands are tied.


As for the imports and high performance cars, well insurance is based on risk. Higher risk = higher premium. Imported and highly grouped cars are higher risk and will cost the company more in the event of a loss or are more likely to cause a company a loss.

oldyouth

Nail on the head post Ash23, I don't think it has been explained better on this forum

EPM

But surely tweaking a policy couldn't explain the 60 percent increase I had this year. Nothing changed on the policy bar the value of the car dropping

Keith C

Its the same as sky or NTL offering new customers cheaper rates then existing customers to get more business on the books, mobile phone companies do it do.
just shop around but be careful who you pick this year

ash23

EPM wrote: »

But surely tweaking a policy couldn't explain the 60 percent increase I had this year. Nothing changed on the policy bar the value of the car dropping

But it isn't about YOUR policy. It's about their rates. They didnt pull out your renewal and say "we're gonna screw this guy ha ha!"

Their risk mangers and underwriters put their heads tgether and worked out rates which mean that they can make profit, pay staff and keep offices running, pay out for the claims they predict they will have etc.

Perhaps the number of male drivers your age who had claims increased last year. Or the type of car you drive is the same grouping as other vehicles which increased in claims last year. Maybe the area you live in saw an increase in claims. Plus the premiums they invested didn't make the profits predicted due to the economy. The shortfall means they have to increase rates.
I work in an insurance company and even pulling all my strings and having staff rates my renewal went up.
I paid 260 last year. My renewal came in at nearly 600. I switched product, lost some of my additional benefits, changed down to TPF&T and still paid 340!

Claims are on the up, always are in a recession.
Profits from investments are down.

So rates have to increase.
Some people feel it more than others depending on the risks involved.

CreepingDeath

100gSoma wrote: »

Hi guys, yep, I have 8 years NCB and 8 year full license and am over 30 so yes I SHOULD NOT be paying opver 1k. my feelings exactly. The mystery car is nothing crazy. a 2.0litre 1999 FTO GPR. 200bhp.

:eek: Feck, I've a 2.0 litre Celica Jap Import.
I reckon I'll get mugged by Quinn in September.
They already raised my insurance 150 quid last renewal for no reason and I had wanted to change.

Anyways, Britton Insurance gave me a quote which was a little cheaper than my current Quinn direct premium only a few weeks ago.

So maybe ye all can give them a ring.

Britton Insurance Web Quote

mickdw

So ash, you are trying to say there is a valid reason other than profiteering why Axa would offer a much better quote online to me as a new customer than they offered to me as a customer of 10 years.
The office staff even told me the online quote should be identical and was rather surprised.
They then went off to search the online quote for themselves it seems cause she had all the details on it when she called back. When they satisfied themselves that they were quoting for practically the same level of cover, they agreed to go with the online price.

I've been with Quinn about 3 years now, since Hibernian gave me a looney quote on a Celica. I'm 29 with 9 years ncb and full licence, Quinn want €520 for 3rd party f&t on a 1997 Rover 216 Coupe. 123.ie have quoted €412. Also I recently bought an old E34 estate as I need a bit of a load lugger for the summer, 123.ie is €480, Quinn quote €920 :eek:

Quinn had me insured on the Celica 3 years ago for €600 ish I think, dunno what their game is now. Although I created a good bit of paperwork for them last year changing cars 3 or 4 times.

ash23

mickdw wrote: »

So ash, you are trying to say there is a valid reason other than profiteering why Axa would offer a much better quote online to me as a new customer than they offered to me as a customer of 10 years.
The office staff even told me the online quote should be identical and was rather surprised.
They then went off to search the online quote for themselves it seems cause she had all the details on it when she called back. When they satisfied themselves that they were quoting for practically the same level of cover, they agreed to go with the online price.

Online rates are generally cheaper than office rates. Customer goes online and inputs all the details themselves as opposed to a staff member spending 10 minutes doing it. Call centres are cheaper to run than branches.
You don't see any Quinn Direct offices dotted around the country. And when insurance companies are trying to cut costs the branches are the first to go.

Also, didn't you say that the car was grouped differently online than on their system. They may have had a different model from the time you got the car. Believe me, the number of people who give the wrong model is astounding. Even garages. This would have had bearing on the premium.
Most places will now look for the VLC to ensure it's the exact make and model stated as it can make a huge difference as you saw.