VRM outstanding finance.

fivetide

With that sorted, your insurance quote does seem a lot.

If the car is almost like-for-like often a newer model can be a bit cheaper due to better security etc.

Another £300 seems pricey. How long is that cover for?

Remember, whilst your broker might be able to find a cheaper quote it could be that the current underwriter just doesn't like the new car for some reason.

Do a quote via the meerkats et al for an idea on what you should be paying. If it is a lot less, weigh up the cost of canelling your current policy and starting a new one with paying the additional fee to see which works out cheaper.

AdrianC

fivetide wrote: »

With that sorted, your insurance quote does seem a lot.

If the car is almost like-for-like often a newer model can be a bit cheaper due to better security etc.

Another £300 seems pricey. How long is that cover for?

What would be interesting is to know what %age of the original premium that £300 represents... If the OP's young, has a poor record and lives in a dodgy area, it may be 10-20%, which seems very reasonable. But if it's 150%...

natnhay

Female aged 19 yr,1 yr NCB ,Policy started jan 2013 paid £822. I did a dummy insurance quote came out at £725 for a whole yr.So i think £300 was a bit steep but want to finish original policy so that she has 2yr NCB in Jan 2014.
Have rung insurers and been told theres a slight difference in engine size but still a 1 ltr in insurance group 1.
Is there away to insure for full 12 mths but still get her 2nd yr NCB in Jan Thanks

AdrianC

natnhay wrote: »

Female aged 19 yr,1 yr NCB ,Policy started jan 2013 paid £822. I did a dummy insurance quote came out at £725 for a whole yr.So i think £300 was a bit steep but want to finish original policy so that she has 2yr NCB in Jan 2014.

So it's 35% increase in the original premium. Not _necessarily_ a ridiculous hike. Did that include give any kind of admin fee? They can be hefty.

Fully comp? If so, then don't forget there's a big increase in the value of the vehicle they're covering, and a 19yo has a high risk of claiming for damage they've caused. Also a higher risk, due to the higher value, of claiming for a single-vehicle incident versus just shrugging and accepting the loss yourself.

Have rung insurers and been told theres a slight difference in engine size but still a 1 ltr in insurance group 1.

What car are we talking about, btw?
What's the difference between full year quotes for the old and the new car, all else identical, via the Meerkats or one of the other comparison engines?

Is there away to insure for full 2 mths but still get her 2nd yr NCB Thanks

3-anna-bit, surely? All of October, November, December, plus part of January...? But, no, you'll almost certainly be best just paying up. If you cancel now, you'll get virtually no premium refunded, and you won't get that second year NCB.

The obvious question, btw, is what they said when you rang 'em when you were first thinking of changing, before it was a done deal...

fivetide

AdrianC wrote: »

What's the difference between full year quotes for the old and the new car, all else identical, via the Meerkats or one of the other comparison engines?...

Well given they paid £822 for the old car and a meerkat quote drops it by £100 I think they are being hard pressed.

I recently traded in my luxobarge (value £1000) for a newer workhorse (value £5000) and a call to the insurance resulted in a £18.50 charge because, as I said earlier, the newer car, whilst more expensive had better security and was seen as safer.

The £18.50 was admin fee by the way. It should have been more but the new premium was less than the old one which seems to be the same here.

I would ask your broker what the deal is OP. As I said, it might be that your current insurer just isn't the best with the particular new car you bought.

natnhay

The car is a corsa just think she will have to pay extra.My daughter rang the insurer,and i rang to question the charge but was told that the new car is 998cc and the older model is slightly lower.Hopefully having 2 yr NCB in Jan will bring her insurance quote down significantly.We did the dummy quote before we decided to purchase and when it came in at £725 ish i naively thought that it wouldnt make much difference but did expect to pay an admin charge. Oh well its been a big learning curve.Thanks to peoples advise on here.
Fully comp? yes