Changing insurance to a different car

TeaServer

Hi,

I'm upgrading my car this week and I called the insurance broker to find out how much it will cost to change the policy over the the new car.

There is 2 months left on the policy and I was quoted €58 to change over the policy to the new car (including admin fees)

I then asked about cancelling the current policy and just getting a new quote for the new car and I was told that I would lose a year of my no claims bonus because I would have a cancellation noted against the current policy. This seems crazy to me, is this normal?

/T

Riva10

Last year I changed from a 02 Ford Fiesta 1.4 lx to a 131Reg Audi A1 TFSI. 7 months insurance left on Fiesta policy and no charge administration or otherwise. My insurance was and still remains fully comprehensive Insurance

Guy:Incognito

Ncb is done in full years. You'd be cancelling before the year is done, of course you'd lose that year.

TeaServer

I'm going from 03 to 11, so I can understand there might be some increase in the policy price.

The fact that you lose the full year NCB is a bit annoying, I suppose its to force you to stay with the same insurance company until the policy expires.

If that is the norm then I suppose I just have to pony up the difference and hang on in there until the full year is up.

Thanks for the replies.

coylemj

TeaServer wrote: »

I'm going from 03 to 11, so I can understand there might be some increase in the policy price.

If you're anything beyond basic third party then a premium increase would be expected since the value of the car is going up by probably a wide margin.

However I'm not impressed by the mention that the €58 includes 'admin fees' - insurance companies normally allow one change per year with no admin. fees and if the change in premium is below €20 or €30 (varies between companies), they generally waive it. I suspect most of that money is going into the broker's pocket.

Notch000

123.ie charge 40 E admin fee, bastards, made their 253E policy almost expensive

TeaServer

coylemj wrote: »

If you're anything beyond basic third party then a premium increase would be expected since the value of the car is going up by probably a wide margin.

However I'm not impressed by the mention that the €58 includes 'admin fees' - insurance companies normally allow one change per year with no admin. fees and if the change in premium is below €20 or €30 (varies between companies), they generally waive it. I suspect most of that money is going into the broker's pocket.

I'd be agreeing with you here, they said their fee is 30, so I guess the insurance premium change is only 28.

Greenmachine

Pay the 58 euro. Then in 2 months you will have one more year no claims. Then shop around for a suitable policy.

TeaServer

Greenmachine wrote: »

Pay the 58 euro. Then in 2 months you will have one more year no claims. Then shop around for a suitable policy.

Yes, I think this makes the most financial sense.

Riva10

TeaServer wrote: »

Yes, I think this makes the most financial sense.

It will make more sense to take your business to an insurance company who will not rip you off. See my previous post.

godtabh

your buying a new car and have an issue of spending another €58? Thats the cost of motoring

Liam McPoyle

Riva10 wrote: »

Last year I changed from a 02 Ford Fiesta 1.4 lx to a 131Reg Audi A1 TFSI. 7 months insurance left on Fiesta policy and no charge administration or otherwise. My insurance was and still remains fully comprehensive Insurance

Emmm, they are pretty much the same car type, the A1 is approx 1.4l isn't it?, so the engine size was the same. Most insurers charge more vehicles over 10 years of age so going to a newer model means better security features and easier to find parts/replacements in the event of an accident which means that its a more attractive risk in terms of them insuring it which is why there was no additional premium.

TeaServer wrote: »

I'm going from 03 to 11, so I can understand there might be some increase in the policy price.

Im not been funny but if you expected an increase in premium then why did you threaten to cancel your policy?

Annualised at €58 for 2 months, your insurance for a full year is about €350 which even for an average driver isn't too bad (you havnt given any details of you age, car type etc so Im speculating here, if you are a 55 year old woman driving a micra you may be over paying a bit. :pac: )

Riva10 wrote: »

It will make more sense to take your business to an insurance company who will not rip you off. See my previous post.

Rip off how precisely?

Some insurers charge admin fees, some dont. Some insurers will only apply the charge if its more than €10, some like 123.ie charge €40 for pretty much everything.

How about you try knowing what you are talking about before you start crying rip off, mmmmkay.

sawdoubters

you could call other companies to quote for new insurance on the new car

Cleveland Hot Pocket

Coleman Slawski wrote: »

Annualised at €58 for 2 months, your insurance for a full year is about €350 which even for an average driver isn't too bad (you havnt given any details of you age, car type etc so Im speculating here, if you are a 55 year old woman driving a micra you may be over paying a bit. :pac: )


How about you try knowing what you are talking about before you start crying rip off, mmmmkay.

Actually, the *increase* annualised is about €350.
The €58 is over and above the existing policy, remember
How about you take your advice and try knowing what you are talking about!:)

djimi

You wouldn't have a cancellation against your policy btw; the would only go against you if it was the insurer who cancelled the policy.

Cleveland Hot Pocket

djimi wrote: »

You wouldn't have a cancellation against your policy btw; the would only go against you if it was the insurer who cancelled the policy.

Yes but most insurance companies are unscrupulous robbing ba$tards and will tell you whatever they want - due to toothless regulation.

Liam McPoyle

Cleveland Hot Pocket wrote: »

Actually, the *increase* annualised is about €350.
The €58 is over and above the existing policy, remember
How about you take your advice and try knowing what you are talking about!:)

You are of course correct, me no function coffee well without.

:pac:

My first point re vehicle types still stands though and re admin charges.

oldyouth

Just a thought for you to consider. You use a broker and it may be them that are charging the admin charge, not the insurance company. Ask your broker to send you a copy of the alteration endorsement that comes with your new certificate and disc. It will state how much the insurance company is charging.

At renewal, you might want to change brokers, but not your insurer

Riva10

Quote:
Originally Posted by Riva10 View Post
Last year I changed from a 02 Ford Fiesta 1.4 lx to a 131Reg Audi A1 TFSI. 7 months insurance left on Fiesta policy and no charge administration or otherwise. My insurance was and still remains fully comprehensive Insurance
Emmm, they are pretty much the same car type, the A1 is approx 1.4l isn't it?, so the engine size was the same. Most insurers charge more vehicles over 10 years of age so going to a newer model means better security features and easier to find parts/replacements in the event of an accident which means that its a more attractive risk in terms of them insuring it which is why there was no additional premium.

Agree they are pretty much the same size car although probably €20,000 difference in value at the time. As I stated I had fully comp. Insurance. Just a quick question for you as you seem to take offence with the word rip off in my last post . Are you involved in the insurance business?

Riva10

godtabh wrote: »

your buying a new car and have an issue of spending another €58? Thats the cost of motoring

Why not expect everyone who buys a new car to pay an extra €1 per litre for fuel as well. If you are going to rip people off, do it properly:D:D