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 One day I'll understand Insurance......

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Bigup1983

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Posts : 290
Join date : 2011-11-20
Location : Gateshead

PostSubject: One day I'll understand Insurance......   Thu 12 Mar - 15:07

Insured the daily hack yesterday.

Last year was £580 same company this year offers £506, Fair enough?!

Figured I would spend the time it takes to drink a coffee seeing if I could get it cheaper.

Went to some meerkat site, loads came in at £500 bar Tesco that quoted £403 for new customer, clubcard holders!!! Champion, haven't even had a drink of my coffee and I just saved £100 Cool

Figured I would cut the meerkat middle man out, as i'm not ass'd about cuddle toys.....£386 Very Happy

Well might as well push my luck and add my mam as she saved me £20 on the scooby insurance - (Which is hilarius as she is petrified of the car!)......£367 Laughing

Lets go mental and add my Mam, Dad, Mother in law and a younger brother. All drivers have more than 10 years driving and max NCB... Suspect

affraid


£277  cheers  cheers



Ssssooooooo 1 driver = £386, but 5 drivers £277. Really...



Ran out of family with loads of driving exprience as I was going to keep going until they owed me money for being insured with them  lol!
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garyblake

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Posts : 3603
Join date : 2011-11-27
Age : 34

PostSubject: Re: One day I'll understand Insurance......   Thu 12 Mar - 15:37

That's cheap

Best I can get is £483 :-(
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Lordharding



Posts : 257
Join date : 2010-03-13
Age : 52
Location : Www.b-SPOC .co.uk

PostSubject: Re: One day I'll understand Insurance......   Thu 12 Mar - 17:55

Oh yes
Same with house insurance
Every year swap around
My main house detatched value silly !!
Building and contents £126
My bunaglow got it down to £106
Greenwagon fully comp protected £150
Nismo £162
Civic ,£168

Amazingly what difference putting relatives on policy's
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GRUMP

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Posts : 35
Join date : 2015-03-05

PostSubject: Re: One day I'll understand Insurance......   Thu 12 Mar - 19:29

I wrote a guide a few years ago when i was 17 about how to get cheaper insurance (posted it on the astra owners club) and got messages non stop from people thanking me as i saved them thousands!

I got insured on my 300bhp Focus ST225 at 19 for quite abit less than £1000 and managed to get insured on my current blob STI for £450 at 22 mainly from doing what you did adding other drivers ! it really is mental how they work it all out
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Bigup1983

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Posts : 290
Join date : 2011-11-20
Location : Gateshead

PostSubject: Re: One day I'll understand Insurance......   Thu 12 Mar - 22:30

Everytime I think I understand it thou something happens or is said on the phone and I think What the Fudge?

Like, this is the first year the daily lump has cost less than the STI to insure?!? scratch

When I got a quote the first year the lass asked the value of the car, I told the truth and said, "£130 is what I paid for it so just put whatever.''  She came back with, "I'll put £1250 because insurers don't like really really cheap cars, they see them as a liability." Suspect "So if it gets stolen and burnt out, now I'll get £1250?" Suspect She laughs and says "Yes!"  Eff this - Pass the matches!! Twisted Evil
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GRUMP

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Join date : 2015-03-05

PostSubject: Re: One day I'll understand Insurance......   Thu 12 Mar - 22:59

Haha, yeah the 'value of your car' on your insurance does effect the price, and you can literally tweak this until you get the cheapest quote and you wont be doing a thing wrong. Nobody else can prove what value a car has to you, I have an astra coupe turbo parked up in my shed that was my first turbo car, i'll never sell it unless I got offered silly money so technically the cars value to me is £10,000+ but you can pick them up for about 10x less !
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Bigup1983

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Join date : 2011-11-20
Location : Gateshead

PostSubject: Re: One day I'll understand Insurance......   Thu 12 Mar - 23:36

Yer she explained that once I go below £1200 ish, the policy would go up to cover liability!

The way they work it out is stupid. Must be the same muppets that work out the Car road Tax system!
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kgt
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Join date : 2010-03-22
Age : 99
Location : Bishop Aukward

PostSubject: Re: One day I'll understand Insurance......   Fri 13 Mar - 8:59

Nope it's quite scientific actually, but I would say that as an ex broker Wink

the drop in premium for adding other drivers doesn't always work but in the case of really young driver it's easily explained. If other more experienced drivers are going to be driving the car then it's not going to be driven exclusively by the highest liability.

And yep that's a laugh on values. Above £15k and they start to take notice. Below £1k they really take notice as people who drive around in bangers don't much care for them and may not care for other folks property too. Stereotyping I know, but the industry has a stats base and they are usually pretty spot on.
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GRUMP

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Posts : 35
Join date : 2015-03-05

PostSubject: Re: One day I'll understand Insurance......   Fri 13 Mar - 9:16

kgt wrote:

the drop in premium for adding other drivers doesn't always work but in the case of really young driver it's easily explained. If other more experienced drivers are going to be driving the car then it's not going to be driven exclusively by the highest liability.

Yeah thats how they think of it but in reality on my multicar quote where I have my mum and dad as named drivers which drops it by a fortune, especially with additional multicar discount, all 3 of my cars can be out driving about at the same time !

I'm not complaining though... haha
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atwrx

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Join date : 2011-01-10
Age : 34
Location : Looking over Mario's hedge

PostSubject: Re: One day I'll understand Insurance......   Fri 13 Mar - 9:43

kgt wrote:
Nope it's quite scientific actually, but I would say that as an ex broker  Wink

the drop in premium for adding other drivers doesn't always work but in the case of really young driver it's easily explained. If other more experienced drivers are going to be driving the car then it's not going to be driven exclusively by the highest liability.
Was just going to write this. mental, but never mind.
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Bigup1983

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Posts : 290
Join date : 2011-11-20
Location : Gateshead

PostSubject: Re: One day I'll understand Insurance......   Fri 13 Mar - 13:12

kgt wrote:
Nope it's quite scientific actually, but I would say that as an ex broker  Wink

the drop in premium for adding other drivers doesn't always work but in the case of really young driver it's easily explained. If other more experienced drivers are going to be driving the car then it's not going to be driven exclusively by the highest liability.

And yep that's a laugh on values. Above £15k and they start to take notice. Below £1k they really take notice as people who drive around in bangers don't much care for them and may not care for other folks property too. Stereotyping I know, but the industry has a stats base and they are usually pretty spot on.

I'm 32 and the brother I added is 28, yet my insurance dropped. I understand the naming and older person thing, as I'm on all my brothers insurance for that reason. But he's younger than me... So stereotypically, he should be higher risk?

I'm sure some science has been applied at some point but has long forgotten since insurers can make loads of money bamboozling customers!
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GRUMP

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Join date : 2015-03-05

PostSubject: Re: One day I'll understand Insurance......   Fri 13 Mar - 13:39

Naming drivers on your policy for the point of dropping your insurance doesn't mean that the named drivers will be driving it round instead of you, it more than likely means you will personally use it exactly as you would, but the named drivers would take it out when your not using it. I know if i needed my car to go to work every day I wouldn't let my mum use it, but if I was at hers and was staying in but she wanted to nip out, i would let her take mine. If that makes sense ?

No real logic at all
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Bigup1983

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Posts : 290
Join date : 2011-11-20
Location : Gateshead

PostSubject: Re: One day I'll understand Insurance......   Fri 13 Mar - 15:35

GRUMP wrote:
Naming drivers on your policy for the point of dropping your insurance doesn't mean that the named drivers will be driving it round instead of you, it more than likely means you will personally use it exactly as you would, but the named drivers would take it out when your not using it. I know if i needed my car to go to work every day I wouldn't let my mum use it, but if I was at hers and was staying in but she wanted to nip out, i would let her take mine. If that makes sense ?

No real logic at all

Lucky! My point..
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maca

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Join date : 2010-05-30
Age : 34
Location : Easington Lane

PostSubject: Re: One day I'll understand Insurance......   Fri 13 Mar - 17:32

Think ill be trying this next year!!!!!
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