'Year you bought car' - Insurance jokers at it again!?

[Deleted User]

I'm looking to replace my car - looking at a few quotes. Due to previous accidents my insurance is borderline ridiculous for most things, but that'll drop off in a few years.

Found one little car, only a 0.6L, only done 9,000 miles so thinking as I don't drive a massive deal I could always try to sell it on in a few years when my claims drop off, and get a good chunk of the money back (it's FSH to date etc etc too) - then I'll upgrade when it won't cost an arm and a leg

Comes up at approx £100 more than my current car if I edit my renewal quote online (I'm currently due to pay £840 for next year for my current car, quote is coming up at £933 for the new one)

However I noticed the car details said I purchased in 2014 (when I bought my current car). Adjusted that to 2015.... and the price is........ wait for it........... £1,435!

How an earth am I a bigger risk because I've only just bought the car?!? If I'd have crashed the other one, I'd have declared an incident... so am I better off buying it in December and then waiting until January to change insurance (since it doesn't ask for month, only the year).

Yet more insurance company antics I don't understand!!! Is there any way to get around this £500 increase other than waiting til the end of the year and playing that game (SORNing for a few weeks I suppose)

straighttalker

You're a bigger risk if you've just bought the car because they assume you're unfamiliar with the car and therefore more likely to crash it. Once you've driven the car for a period of time, you would have familiarised yourself with it and therefore be less of a risk.

[Deleted User]

Fair point I guess - didn't think of that. Looks like it'll have to be the December purchase (declaring 2015) and then start officially driving it in January. Can't see them twiddling with the algorithms much during Jan/Feb or they'd be upsetting a whole year's worth of drivers just to 'catch' those who bought in late 2015 like me.

Got me thinking that maybe they don't apply that to mid-term adjustments properly.... because my insurance only went up a small bit (and that's because current car came with 2 x modifications) when I went from my Clio to Corsa in September last year. I changed car with them in 2013 too (from old 1L Corsa to Leased brand new Peugout) and didn't pay much of an increase then either

photome

Out of interest what car has 0.6 l engine and do you have to push it up hills

anotherbaldrick

Fiat 600 ?

facade

Smart cars do, also that Maruti if you can get one.

Probably quite a few Grey imports from Japan too.

[Deleted User]

Haha, Little Fiat smartcar.

Most of my driving is on the motorway - was surprised top speed is 84... guess I need to see how long it actually takes to get up to speed!

arcon5

That's one hell of a jump for a not so significant change of details!

dacouch

arcon5 wrote: »

That's one hell of a jump for a not so significant change of details!

The pertinent information may be.

Somerset_La_La_La wrote: »

Due to previous accidents my insurance is borderline ridiculous for most things, but that'll drop off in a few years.

Somerset_La_La_La wrote: »

How an earth am I a bigger risk because I've only just bought the car?!? If I'd have crashed the other one

Somerset_La_La_La wrote: »

I've always been with EUI group (Admiral, Diamond, Bell etc), after comparing they are cheapest by absolutely miles for me. Each year they play the 'we will charge you for moving' game, plus a mid term adjustment.

If you also throw in many companies adjust premiums when they detect customers massaging information it makes sense. If any company is going to adjust premiums for massaging quote details it's Admiral.

[Deleted User]

Yep - they blocked me buying my quote online, had to phone up and they wanted to "double check all my information was correct" (for my benefit of course....). It was the job promotion they queried so obviously didn't like - saved me over £250 - but then after confirming it all they put the lower price through over the phone - I'm just using that quote reference to compare new cars.

Accident history etc totally accepted - but I'm already paying over the odds at £840 (although got named drivers to get to that) - surely a 2014/2015 change shouldn't cause it to be even more over the odds, even with my risk rating?

Just thought - if I'd done the reverse of my plan, i.e. bought this new car in January, I'd be totally screwed for insurance even 6 months on because of this new car premium.


I've emailed them to ask their thoughts - they are generally good at explaining their premium increases to me, even if it is "computer says so". They also agreed the charge for moving down the road was silly and cancelled it, maybe they'll do that with this (pigs might fly). Otherwise I'll wait until December and be sure to only ever buy cars at the very end of the year!!

dacouch

Admiral are one of the only Car Insurers who make an actual profit every year. They achieved this by coming to the party relatively late and harnessing the technology to their benefit and using a Ryan Air type business plan.

They use an incredibly sophisticated pricing strategy that enables them to charge a premium they as a company can make money on.

Some of their pricing may look odd to outsiders but it works for them