Annual Insurance Rant

[RickS1K]

so it starts.... at the end of September my car insurance is due, and about a week later the bikes need insured. Not sure what to expect re bikes because a few members have posted here about BeMoto losing some underwriters, with bad things happening to quotes, but I'll deal with that when the time comes.

Anyway I shall start this year's rant on the subject of car insurance. My renewal (from IAM insurers) is double last year, so they can go **** themselves. They will offer to match my best quote when I tell them to ****off, but they rarely come back with anything interesting. I've tried some comparison sites and got slightly better quotes. I am getting annoyed by the wording - some sites are worded exclusively towards cars/allow you to say you also have access to bikes. But get this - something in the Direct Line wording made me want to check with them - they told me that they don't need to know about motorbike claims! I have one from 2 years ago... their quote was batshit crazy anyway so it doesn't help me, but it now means i need to confirm with each quote I get whether they care about that. I have declared the accident because I am used to having to, but it may have changed...

Even now, I'm not actually sure I trust the comments of an anonymous drone in a contact centre, but that's what they said - it only brought the c.?1k quote down ?60 anyway.

Obviously this is not something you want to be on the wrong side of if you have to make a claim, but when you enter the details of the claim, for the quote, there is never anywhere to show that it has nothing to do with cars/ car insurance, and my accident (front wheel caught in a pothole) just couldn't happen in a car, so I fail to see how it is relevant to assessing my car policy... Obviously if you had speeding tickets you could argue that the mode of transport is irrelevant...

It's just too opaque....

Rant over (for now).

 

[RickS1K]

...oh joy.. just got the quote from BeMoto - 30% up on last year

 

[stuartb]

Yea mine came in today. I think I paid 340 last year its 446 now. Hmmmm. Emailed then back but got an auto response, they don't do email discussions about policy options and renewals

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[stuartb]

45% increase.. that's nuts !.. That actually forces me to hit the mind numbing comparison sites..

Funnily enough, my B and C insurance thru E Sure increased by almost exactly 50%, the renewal papers were emailed last week, I've been with them 10 plus years, Zero claims for as long as I can remember.

I called their Glasgow office, the bird must have been fed up listening to similar as she trotted off that their exposure to corporate losses killed them last year, hence all the premiums have had to be lifted to fill in the holes. The increase.. ?300 to ?450.. so **** that !

I have admiral car insurance, so I jumped on to their website, fired in my details and got around 6 months Emperor cover or whatever they call it, that was 119.00, so grossing that up to 1 year is ?238.90 in my book.... so paid that, only thing is its linked to my car, both will renew same date end of February

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[alex]

I feel some of the issue is PCP...the financial system that allowed the manufacturers to make more and more expensive cars (far out stripping inflation). The flip side is when those vehicles are damaged the repairs etc also rocket in value...and thus so does the insurance costs. Bikes are too easily nicked and the cost of them is just ridiculous.

 

[Fraggle]

I ended up going with Hastings (through the Bike Insurer) for my S!K. Paid about the same as last year with BeMoto. I was told by the BeMoto agent that they'd lost AXA as an underwriter.

 

[soofsayer]

You want to be trying to insure a range rover (I'm not but I know people who have been). ?5k for a year cheapest quote lol, and thats after hunting for a broker to place the business with because a lot of underwriters are refusing to offer cover now.

 

[alex]

My car insurance just arrived, timing eh.
My wonderful E90 330i ******* is ?228 Up from ?199
Old cars for the win!

 

[RickS1K]

My ...immaculate ... 6yo 430 has gone from 460 to 885!! Or 10 payments of 104... so >16% interest.

Comparison sites telling me 677... with motorbike claim declared..

...and I've just realised that the letter header says that 'your current insurer, KGM Motor Insurance, do not wish to offer a renewal, but we believe that KGM Motor Insurance can offer you comparable cover! wtf

 

[stuartb]

You want to be trying to insure a range rover (I'm not but I know people who have been). ?5k for a year cheapest quote lol, and thats after hunting for a broker to place the business with because a lot of underwriters are refusing to offer cover now.

Are they a theft target Andy ?

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[RickS1K]

Are they a theft target Andy ?

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Mat Armstrong mentioned in one of his YT vids that they are big target for thieves atm (he was looking round one in an auction yard that had had all its tags removed - so he couldn't put it back on the road)

Just chatted with IAM, had a moan at the price. They say the average increase is 40% this year, ffs. They also confirmed that they do care about bike claims on car policies. bye bye IAM...

 

[alex]

Utter ***** - might as well ask for travel and contents claims too.
Infer, if you've ever had an accident or theft you're ****ed

 

[RickS1K]

Well... as you know i had a big accident 2 years ago, and last years renewal was pretty much the same price as the previous year... maybe insurance was just really cheap last year and I just didn't benefit from a dip in prices... I can only say I was very relieved at the time, lol

Just found something interesting - BMW do 'flex insurance' for cars - it's a fixed monthly payment (which for me will be c. 620 p.a.), reviewed annually but can be cancelled anytime. Allegedly doesn't charge interest because it's not a credit agreement.

Very tempted to take this for a while and cancel if things get better early next year. I could really do with not having to shell out car, bike and home insurance within 3 weeks of each other every year... has anyone tried this type of car policy?

 

[stuartb]

Mat Armstrong mentioned in one of his YT vids that they are big target for thieves atm (he was looking round one in an auction yard that had had all its tags removed - so he couldn't put it back on the road)

Just chatted with IAM, had a moan at the price. They say the average increase is 40% this year, ffs. They also confirmed that they do care about bike claims on car policies. bye bye IAM...

That's about right then 40%.. strange how you can get "normal" rates if you shop around tho [emoji848]

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[alex]

The notion of loyalty doesn't apply to insurance underwriters

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[stuartb]

I ended up going with Hastings (through the Bike Insurer) for my S!K. Paid about the same as last year with BeMoto. I was told by the BeMoto agent that they'd lost AXA as an underwriter.

According to an email from Bemoto today, AXA is still with them but will only underwrite policies @ 2000 declared miles or less..


For what it?s worth, the reason your current price is where it is, is because your current insurer, AXA, have changed their terms where they now only consider insuring these types of bikes if they are doing 2000 miles or less a year so we had to move you to a different provider based on the current details.



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[stuartb]

The notion of loyalty doesn't apply to insurance underwriters

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I've never understood that, why not retain a good risk rather than force someone into shopping around.

I've a couple of mates that seem to have no problem jumping about looking for the least expensive deal every year..I can't be bothered with that and will happily pay a reasonable increase YOY.. inertia rules at times..

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[RickS1K]

I've never understood that, why not retain a good risk rather than force someone into shopping around.

Often wondered that myself - perhaps another year without an accident is just a year closer to having one...

I've a couple of mates that seem to have no problem jumping about looking for the least expensive deal every year..I can't be bothered with that and will happily pay a reasonable increase YOY.. inertia rules at times..

It is soul destroying, esp when it's so difficult to compare two quotes with all their additions. The government is thinking of going after the airlines for that, maybe insurance will get caught up in that too...

I've a couple of mates that seem to have no problem jumping about looking for the least expensive deal every year..I can't be bothered with that and will happily pay a reasonable increase YOY.. inertia rules at times..

Google 'price walking' and see if that changes your mind, companies like Direct Line rely on mugs

 

[Fraggle]

According to an email from Bemoto today, AXA is still with them but will only underwrite policies @ 2000 declared miles or less..


For what it?s worth, the reason your current price is where it is, is because your current insurer, AXA, have changed their terms where they now only consider insuring these types of bikes if they are doing 2000 miles or less a year so we had to move you to a different provider based on the current details.

Interesting. I wasn't given that option and lately have been doing much less than 2,000 per annum. Barely been out on the BM this year due to various reasons.

 

[stuartb]

Same here

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