Insurance - so what's the logic here then?
01 October 2010, 07:01 PM
#1
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Insurance - so what's the logic here then?
The insurance on a car of mine is up for renewal next week so I called up Liverpool Victoria for an alternative quote. In fact it's a 2nd car which we don't use very much so I asked for a quote doing 5,000 miles per year max. £137 which was £100 cheaper than current insurance so a good start and it is a turbo albeit not in the sports league. But I was a bit worried that 5,000 miles might not be enough so I asked them what the extra would be to increase this to 10,000 miles. Answer £1.70 
Assuming that most of the premium goes on covering the cost of a prang when driving then I can't see the logic of this minute increase for effectively doubling the risk - not that I am complaining
Am I missing something?
dl
Assuming that most of the premium goes on covering the cost of a prang when driving then I can't see the logic of this minute increase for effectively doubling the risk - not that I am complaining
Am I missing something?
dl
01 October 2010, 07:10 PM
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£137 thats very very very cheap old mans 55 every licence you can obtain on a old mans car he pays £297 a year with no claims from 17 till now.
just had my renewal w*****s gone up £135 this year arghhh
just had my renewal w*****s gone up £135 this year arghhh
02 October 2010, 08:08 AM
#6
We had a situation where i had misquoted our no claims bonus on our BMW...
I had said it had 10 years NCB on original quote form when it only had 6 years...
Luckily i noticed the slip before buying the new policy... I amended the details and expected to see a fair % rise for the extra 4 years that had not be accrued...
It was an extra £5..
I had said it had 10 years NCB on original quote form when it only had 6 years...
Luckily i noticed the slip before buying the new policy... I amended the details and expected to see a fair % rise for the extra 4 years that had not be accrued...
It was an extra £5..
02 October 2010, 08:22 AM
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One thing I've noticed is that more insurers now want trackers fitted even to the old wrecks I own, none of which were built this century. The standard factory fitted alarm is not sufficient. Well I'm buggered if I am going to get a retrofit tracker installed which would probably cost more than the vehicle is worth 
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02 October 2010, 11:54 AM
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The insurance on a car of mine is up for renewal next week so I called up Liverpool Victoria for an alternative quote. In fact it's a 2nd car which we don't use very much so I asked for a quote doing 5,000 miles per year max. £137 which was £100 cheaper than current insurance so a good start and it is a turbo albeit not in the sports league. But I was a bit worried that 5,000 miles might not be enough so I asked them what the extra would be to increase this to 10,000 miles. Answer £1.70
Assuming that most of the premium goes on covering the cost of a prang when driving then I can't see the logic of this minute increase for effectively doubling the risk - not that I am complaining
Am I missing something?
dl
Assuming that most of the premium goes on covering the cost of a prang when driving then I can't see the logic of this minute increase for effectively doubling the risk - not that I am complaining
Am I missing something?
dl
Les
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