insurance on updated car

finalfurlong

Bought a 151 pre reg yaris yesterday and traded in an 09 yaris.Car was for my 78 yr old father who paid 703 last year-renewal date 31 august.On ringing aa transferred insurance putting value of 15500 on car.everything ok until at very end was told there would be an additional premium of 61 eu to renewal .ie 6 weeks.queried this and was told a letter would be sent out.since father had not changed value of 11k for last 2 years am puzzled how getting a same make car with an increased value ostensibly 4.5 k could lead to such a hike,at that rat his premium would jump by 360 plus in a full year.Made no payment and wont until i sort it out.If he hadbought a merc -maybe but i have changed cars mid year before and never had this happen.Any ideas?

slimjimmc

Many insurers charge an admin fee (in the region of €30) for issuing new documents, plus compared to last year's renewal your father will be a year older (and possibly deemed a higher medical risk) and in general there has been a hike in policies. While you're pondering over €61, having spent €4,500, your car is sitting there uninsured against fire or theft, is that wise? Protect your asset and pay the €61 then use the next 6 weeks to shop around for the best value policy for your father regardless of whether his current insurer matches last year's price.

finalfurlong

slimjimmc wrote: »

Many insurers charge an admin fee (in the region of €30) for issuing new documents, plus compared to last year's renewal your father will be a year older (and possibly deemed a higher medical risk) and in general there has been a hike in policies. While you're pondering over €61, having spent €4,500, your car is sitting there uninsured against fire or theft, is that wise? Protect your asset and pay the €61 then use the next 6 weeks to shop around for the best value policy for your father regardless of whether his current insurer matches last year's price.

Good advice jim-that admin fee is a bit of an iffy one.Im not sure if shopping around will be worthwhile as he had a small claim 3 years ago and his ncb will only be back at 20% this year.Does he have to stay with current insurer until he is back up at 50%?

slimjimmc

No he doesn't have to stay. Some insurers may decline for various reasons but in general once the claim is closed he can go with anyone who will accept him. You won't know what's available until you shop around.