GolfGTIforum.co.uk
General => Insurance => Topic started by: admc6 on 31 December 2010, 23:27
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Hi all,
That time of year has come once more, and its time to renew my insurance.
Have a '96 MK3 Golf Anni 8v
Last year i paid £466 with HIC for
Fully comp
7 years no claims
legal protection
9k miles
2 sp30's (april 2009 for both)
I was 26
park on drive (although that makes no difference)
SDP&C
Exhaust and replacement panel filter
no protected no claims (as this would have cost an extra £500!)
Was re-quoted this year for the same (1 year extra no claims and a year older obviously) £685
It has to be said i wasnt expecting it to go up so much.
The cheapest i have found so far is with admiral at £620 with protected no claims.
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Im in exactly the same position mate, its disgusting! Ive got more experience, an extra years no claims and yet my premium goes up by a couple of hundred quid! I can see why there is so many uninsured drivers out there!! :angry: :angry: :angry: :angry: :angry:
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Try a classic car policy....I went down this route when I had the 8v and the VR6 and could insure both cars for half the price of the Mark 4 I used to have.
I was paying £350 for my N reg Mark 3 8v GTI. I had nil no claims as I used it on the VR. Value set at £800, parked on drive, 34 years old, fully comp, sdpc. I limited to 3000miles as I had two motors.
If you want the company's number I use PM me and I will find them out for you.
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Mine is up the start of next month so I got some quotes last night. Based on what i've read on here and my dad's renewal price last month I was expecting to be stung pretty hard however.....
Last year I paid £540, the best quote I got for my renewal is £460 this year!
Thats with mods declared, annual mileage of 10k, i'm 23, 3 years NCB, 5 years driving exp, parked on driveway, 2 named drivers, no claims or points etc etc.
Pleasantly suprised, also that's without looking at specialist companies such as HIC, Chris Knott etc. :smiley:
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and imagine if car insurance actually made a profit..... at work for ever £100 we take for a policy we spend £115 paying out in claims/costs! (this is better than a year or two back when it was closer to £122!!)
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and imagine if car insurance actually made a profit..... at work for ever £100 we take for a policy we spend £115 paying out in claims/costs! (this is better than a year or two back when it was closer to £122!!)
I fully understand that an increase in payouts = an increase in premuims to cover costs, but I had no idea that insurance companies were making that kind of a loss? Surely they can't all be loosing that much money, otherwise they wouldn't still be in business?
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motor insurance has being a loss maker for years....although most large insurer's still make a decent overall profit (that's why you get offered all the extras when you take insurance)
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so the company you work for makes a loss of £20 for every £100 of insurance they sell? and pay their staffs wages ontop of that... that makes sense :grin:
tbf ive found the comparison sites best, got quoted 900 odd with admiral at 19 with a 1.4 polo but id have had to pay it all in one go so gonna wait a month til im 20 and see if it goes down then.
also just for the record, chris knott, absolute waste of time, dont even bother ringing them unless your over 25, quoted me £5400 for the same cover and told me even their young driver insurance underwriter wouldnt quote me (no convictions etc, and im 19, what do they class as young driver insurance?'
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Mine up in mid Jan, my 150bhp GT TDi, renewel price of 3500, apparently i lost my no claims, i kicked off as i made no claim, someone went into the back of me lightly and drove off!!! So with 5yrs no claims sorted they said 2500!!! I paid 11 x159 which included them paying my excess(£9pm) so they said best they could do was 12 x 210. 2 x DR10 convictions but just finished my fifth yr no claims bonus. Got it protected this yr for 166 x 11, could have got it a few quid cheeper but the current insurers came down in the end just from going off the 4 main comparison sites! 31 male, parked on street, the mrs as a named driver!
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so the company you work for makes a loss of £20 for every £100 of insurance they sell? and pay their staffs wages ontop of that... that makes sense :grin:
yes.....and we aren't the worst!! (get you insured on the car and then there all our other profitable products waiting for you! that's how we make a profit......same as tesco making a loss on selling beer, they make it back up on everything else you buy with it)
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Just had a quote from youchooseinsurance.co.uk.
wait for it.......
£9579.92 :shocked: :shocked: :shocked: :shocked: :shocked:
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What details did u put in for that?
Not picked my quote yet. Admiral is winning at the moment.
Cant go for classic car insurance yet, as it appears the car needs to be 15 years old, mine wont be that until 16/12/11.
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I put in my own genuine details! :shocked: :grin: It was through some crappy comparison site though. :undecided:
Ive just renewed with Chris Knott, they beat my renewal quote by £30 and have declared all my mods. :smiley:
I wasnt gonna bother ringing companies up cos Im lazy and would rather just pay online but now Im glad I did, it seems they can get you a much better deal. :wink:
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I eventually got mine for £627. Mods declared and no claims protection.
Admiral won this year but we'll see next year