Changed car, insurance doubled+!!! Why, please?

ampersand

Postscriptum, post-Unsubscribed:-)

#

Saga James has just whittled. All in £84.96, inc. amendment fee. That'll do.

parking_question_chap

BeenThroughItAll wrote: »

Really? Isn't it obvious?


One's worth a couple of hundred quid, one's worth a couple of thousand quid.

Well to most people its obvious.

But then again common sense isnt very common.

ampersand

...and fortunately, on mse, neither is your attitude.

macman

It's not just about the value of the vehicle. The bulk of the risk carried by the insurer is 3rd party injury. If you have the misfortune to run Simon Cowell over on a pedestrian crossing, then they'll be paying out many millions in compo. You can as easily do that in your old Ford as in your new Vauxhall.
Not that I'm suggesting you try, of course...

reddwarf2002

One aspect that frequently gets overlooked by people, and which insurers take into consideration, is that you are more likely to have an accident in a new and unfamiliar car. Hence slightly higher premium amongst other factors.

wymondham

just to muddy the water, my 19 year old son has a ford fiesta 2009 zetec which costs him £1300 to insure. He's looking to change his car and has found he can insure a BRAND NEW alfa romeo Mito for less........

Blows the replacement value argument out the water??

rudekid48

wymondham wrote: »

just to muddy the water, my 19 year old son has a ford fiesta 2009 zetec which costs him £1300 to insure. He's looking to change his car and has found he can insure a BRAND NEW alfa romeo Mito for less........

Blows the replacement value argument out the water??

Not surprising to be honest. Of the two, which car do you think he will take more care of? By care, I mean driving style. Would he be more careful of getting a scratch/dent in his Fiesta or his Alfa?

angrycrow

wymondham wrote: »

just to muddy the water, my 19 year old son has a ford fiesta 2009 zetec which costs him £1300 to insure. He's looking to change his car and has found he can insure a BRAND NEW alfa romeo Mito for less........

Blows the replacement value argument out the water??

Supports what I said before actually. Fiesta zetecs are very popular with young drivers who frequently crash them with 3-4 occupants claiming injury. Most 17 18 year olds cant get finance on the mito so they tend to be driven by people with more experience. Another factor is the limited practicality of the mito means less passengers.

Again comes down to historic claims cost for each model.

Mr.Generous

Yes Insurance is purely a numbers game, statistically how likely is a driver of your age and experience likely to claim driving vehicle X and how much is the Av. claim value when they do claim? That's how they base it - plus of course What's the market rate for insuring Driver Y to drive Vehicle X and how much can we get away with charging?

Some years ago (Ok a lot of years ago) I was insuring my R Reg Mondeo 2.5 ltr V6 that at the time I thought was a powerful beast, and the insurance agent said along the lines of ... I notice your married yet you haven't added your wife to your policy. I explained that she had passed her test only 9 months ago and had zero years NCD or driving experience. They tried it anyway, guess what - premium was LOWER with her added.

Her 1.1ltr Fiesta insurance expired 3 months later and with my recent experience I added myself as a named driver. I had 10 yrs license, Nil points, 10 yrs NCD by the way, guess what - Yep, premium went up.

A friendly insurance agent explained it in broad terms like this:

Your new driver wife driving her husbands powerful high performance (not) car will be very cautious and careful. When she's driving it you are not. Therefore lower risk. You however, will drive her little Fiesta like you stole it, trying to get the most out of it and not being too concerned if you did damage it.

They did have a point. You can see some logic in there somewhere.

kev25v6

There's no explaining insurance anymore. I went from a 2003 2.5l turbo Volvo V70R 300bhp to a T reg 2.0l turbo Subaru Forester 180bhp and the insurance went up 200 quid a year. They blamed it on being an older car.