Shaun

Just an observation.......

Been keeping a close eye on the Scooby & RS insurance trend over the last 6 months. It all seems to point to a hammering by Insurance Companys for main stream performance cars.........

Some of you younger viewers may not remember the last insurance crash that happened in the late 80's early 90's - I DO I remember when Jeremy Clarkson had his Escort Cosworth in the height, and the insurance rose to £25k for a year in the centre of London!!!!!

I know that it has always been a problem, but it seems to be getting out of control especially with new cars like the UK Scooby WRX.......people are finding it hard to get quotes full stop!!!!!

Shaun.

BT52

Seems a bit odd to me.
I never used be able to get a quote from Direct Line for my Elise (and I guess similarly the Impreza) they would always refer me onto Priviledge.

Yet this year they seem to have changed their tune completely and I am able to get much lower quotes for both the Elise AND the Impreza than I ever could before, and this is including my 22 year old wife.

So I would say that from my experience car insurance seems to be getting more sensible not less.

Nimbus

I don't call it sensible when my old insurace company <B>doubled</B> my quote last year. Full NCB etc, etc.

Needless to say a bit of shopping around brought it down, but it's still higher than last year...

<B>N</B><I>i</I><B>m</B><I>B</I><B>u<I>S</B></I>

paulmon

BT52,

I think Direct Line & Privilege are now operating under the same umbrella.

Paul

ozzy

Paul/BT52,

They are. Direct Line and Privilge are one in the same. I contacted them both for quotes, but Privilige just told me that they could only quote the same as Direct Line.

The DL quote came up on Privilige's system as soon as I gave them my name and post code.

Stefan

TFyus

My rsturbo insurance has increased over the last two years. Even as i gained NCB, it still seemed to rise. It is in the group 20+ as its heavily modified. But the longer i own it and drive it the higher the premiums become.

The cars value goes down due to its age and mileage yet they still want more money.

I can see the trend rising again.

manny

It is shocking, i've just worked out that in 10 years since i passed my test, i have paid out over 11K in insurance premiums, yes i did have one stolen 5 years ago and i have 3 points but come on over £1000 per year average, hopefully the next 10 years will be different, but i have my doubts.

Orville

I remember the prices of all performance cars (especially the exotic ones) taking massive hits on residuals. I bought a 2 year old Fiesta XR2 in 90/91 for £1900 which cost me almost as much again to insure. I did keep it for 4 years and sell it for more than I paid once insurance became reasonable again.

Dream Weaver

12 months ago I used

JoeyDeacon

But look on the bright side, at least it will stop a lot of the Max Power brigade owning them!

Robertio

iTrader: (1)

JoeyDeacon, the problem is if mine is any higher this year, it will stop me owning my one as well

My insurance is due 4 weeks today, any donations gratefully accepted, tried one company just under £1,800 before declaring mods
Will have to spend my normal 2 days phoning every insurance company in the country (leaving *Rum until last ) trying to get a decent quote.

Surprisingly enough this thread has not really cheered me up.

Gary Foster

I'm in the same boat as Robertio, I payed nearly 1.4K last year and only paid this as I expected it to go down this year (with an extra years NCB).

I am very worried too ..

Might be cheaper just to lay the car up for a year or two (just use it for track days) and buy a banger instead. Can't sell it, negative equity.

2 months and counting ....

Gary

Gary Foster

[edit DP ... no, I mean double post]

[This message has been edited by Gary Foster (edited 14 March 2001).]

JoeyDeacon

Robertio,

£1800 How old are you, what car do you drive and what sort of NCB do you have??

I am 27, have full NCB and Insurance on a Standard UK MY00 was £830.

I remember the last time insurance went stupid I was looking for a Peugeot 205 XS. I could have got a Peugeot 205 1.9 GTi of the same year cheaper due to the insurance!!

DrEvil

I really hope mine doesnt increase much
I have a really good (all things considered, ie. accidents, points etc..) deal at the moment, but if it increases too much, I think I'll be doing whats been suggested above and driving a banger to work and use the impreza for track stuff...

JoeyDeacon

The other drawback of course is that it will lead to lots more drivers driving without insurance. Did anybody else see the bit on Driven last night about car insurance?? Apparently there are around 1 million people driving around without insurance.

Robertio

iTrader: (1)

My insurance details:
Will be 24 on the day my insurance is due (known as buying yourself a birthday present I suppose) 3 NCD, clean license. MY00, 17" wheels, STi 5 rear wing (original borrowed, and there was no way I was paying near on a grand to replace it with a std one), colour coded skirts staying in Glasgow G21 (which is a large part of the problem, was quoted &lt;£600 for a KW1 postcode last year)

GCollier

Is it really that surprising, given the number of threads about scoobs being stolen, or trashed in accidents? There's also the additional cost of NHS reclaiming medical costs of accidents from insurance, and the "claims direct" culture which seems to be growing in the country.

Given all of the above, I don't think it's a case of being purposefully hammered by the insurance companies, just the rising increased risk associated with these cars.

Gary.

Kevin Groat

Another point is that this is what caused the 4rse to fall out of the cossie market around the early 90's, at one point you could pick up a rwd saphire for £3-4k (a good £2-3k less than their true value then) because no-one could afford to insure them. This could be one of the factors affecting the 2nd hand value of the scooby. Could be we're in for a rough ride.

Kevin.

Dave P

I suspect anyone insured with any Fortis companies may see an increase in their insurance. It was Fortis who insured the Landrover that caused the rail crash the other week. Claim expected to be in excess of £100 MILLION !!!

I know we all moan about our insurance, myself included, but that is an example of what could happen to any of us, despite how good a driver we think we are.

Also with more and more companies like Claims Direct fleecing insurance companies (and this is what they do, because the bulk of the 'win' is paid to them in fees) and costs now to the NHS I personally can only see insurance costs rising.

I should imagine the average ding costs £1,000 to £5,000 in repair WITHOUT any personal injury, which could stick anything upto £100 million on... and we moan about paying £800 to £1500.....not so sure I fancy taking the risk.

Anyway enough already...

Dave

Dream Weaver

Dave P

It is relative though - they base our premiums on the wrong things. I have been driving for 10 years without a single accident or claim. I have 3 pts when I was caught doing 93mph once on a quiet motorway.

Yet I am still expected to pay £1300 for a Scooby. I could cause as much damage in theory in a less powered, less well-equipped vehicle.

It's OK to say that accidents are expensive, but I have paid 10 years insurance without 1 claim. That money has gone into the cost of other claims but I am still penalised, and they dont take into account my experience, or other factors.

Not much we can do about it though really the 2 certainty's in life need to be changed to 3: Tax, Death, and Scandalous UK Car Insurance

pslewis

I'm easily old enough to remember the Cosworths of the 80's and how much they fell in price (to say that they were cheaper than their REAL value is madness .. the REAL value of anything is the price you get at the point of sale) - you just couldnt sell them.

The cosworths were ALL UK cars I seem to remember?? - so, if that happens again it will be the grey imports (which are more expensive to insure anyway) that will plummet in value - they may even actually be un-saleable at ANY price

I pay £500 and I think that is a lot - but I am an old grandad with many many years under my belt.

But if you are in your 20's, have modified your Jap import, have a few points you are in for a tough ride I feel

Pete

Dave T-S

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:<HR>Originally posted by Dave P:
<B>I suspect anyone insured with any Fortis companies may see an increase in their insurance. It was Fortis who insured the Landrover that caused the rail crash the other week. Claim expected to be in excess of £100 MILLION !!!

I know we all moan about our insurance, myself included, but that is an example of what could happen to any of us, despite how good a driver we think we are.

Also with more and more companies like Claims Direct fleecing insurance companies (and this is what they do, because the bulk of the 'win' is paid to them in fees) and costs now to the NHS I personally can only see insurance costs rising.

I should imagine the average ding costs £1,000 to £5,000 in repair WITHOUT any personal injury, which could stick anything upto £100 million on... and we moan about paying £800 to £1500.....not so sure I fancy taking the risk.

Anyway enough already...

Dave [/quote]

Fortis are carrying reinsurance on this (as do all insurance companies) in excess of £10 million so the loss is spread in the reinsurance market.

Fortis's shareholders surplus is measured in billions. One catastrophe loss won't make the slightest difference and will be split in their underwriting figures from normal losses anyway.

Nobody has proved the loss is down to Fortis yet anyway. Fortis/Independent (GNER's insurer)/St Paul (Railtrack's primary insurer), their reinsurers, and the lawyers will be arguing about it for a while yet.....

DeerHunter

Stop Complaining!!! I'm new to the scooby - (where's shaggy + scrappy!!)it hasn't been delivered yet but insurance with my prodrive conversion on an R-reg Turbo, 23, 5R NCD, no points, no crashes, clean as a whistle!!! Bet quote after a day in work phoning - £2140, £400 excess, and driven last night had an insurance guy saying they lost money on car insurance - who are they kidding!!!

Dave T-S

Guys

Time to join the human race. Motor insurers are currently paying out £115 for every £100 in premiums they take.

Set yourself up as Acme manufacturing Ltd buying widgets at £115 each and selling them for £100 each. How long will you last before you become insolvent or put the price up????

dougies549

lo everybody

just to give my pennys worth

diana and i own a 97 r plate catalunya
insurance is £960 this year hope to go down next year.

was originally quoted £640 for a non limited edition scooby doo,they increased the price because the cat is a l/edition.

live in ayrshire clean license no accidents and only 4 years ncb,

Markus

Don't count on high premiums keeping the max power lot out. They'd probablly find scooby insurance cheaper than their maxed cars

tis going a bit weird to say the least.

The blackbeast is 6 years old, ok it's got a few mods, but no really serious engine work, and some companies wanted 3k off me

OK, so I've only got 3 yrs NCB, but I have been driving for 9 years, so 3 claims in 9 years (all of them not my fault, honest ) is not too bad.

I'm really dreading having a prang before I get protected NCD, because if I do then the scooby will have to go, there is no way I could afford to insure the beast with no NCB.

Shaun

Speaking to my misses last night (see I do!! ), and apparently a lad that works with her has just bought a new car. Now this car is a 1 litre R reg Polo. He is 20 and just had an accident (nobody else involved his fault) on a previous knacker. He has shopped around and managed to get a good deal at £1000 fully comp

That's what I call MEGA!!!!!!

Shaun.