should I change provider? renewing car insurance after a recent claim

milo11

I drive a honda jazz that is a 2007 model and I have been driving for over 20 years with no claims protected and have never claimed before. My renewal is up on feb 3rd and at the moment I pay 54.99 a month  car insurance fully comp for me and my husband and there is 27.00 road recovery. about to start looking into changing policy sunday night, however before I could get round to this,on monday, someone has stolen the catalyic convertor. The insurance policy is going to cover this and the car is going for repairs however the renewal quote has been amended to now reflect the car insurance will be 79.99 a month from 3rd february. Because I have claimed should I stay with the original company or would it still be beneficial to shop around?

MalMonroe

You can still shop around, surely? I would have done anyway, as you were about to. I would never  just accept a renewal with the same company, unless they agreed to reduce their price. 

I might have been tempted to see if I could get the catalytic converter replaced by a garage rather than claiming on my policy. Last time I contacted a car insurance company, just to make an enquiry, not even to claim anything, they logged my call as a claim on the Motor Insurance Database for five years. I had to mention it every time I bought car insurance and they said it wouldn't affect my premiums but it did. And of course, I expect that you had to pay an excess. Sometimes you have to weigh up the benefits of claiming, or not.

The problem now is, if your car is parked on a public road, insurance companies may feel that it's an easy target and, therefore, at risk. Also, a catalytic converter is a very specific thing to steal from a car. What's all that about?

If I were you I'd definitely start shopping around for some decent insurance as your current policy is due to expire next month but of course now you'll have to report the theft of the converter and your claim of course and most insurance companies are likely to quote higher premiums because of that. The insurance company you're currently with would probably have quoted a higher price anyway, whether or not a claim had been made.

missile

Paying monthly is more expensive. If you do not have the funds it might be cheaper to get a loan?

Sandtree

missile said:

Paying monthly is more expensive. If you do not have the funds it might be cheaper to get a loan?

Not always, some insurers do interest free installments. 

Ditzy_Mitzy

MalMonroe said:

The problem now is, if your car is parked on a public road, insurance companies may feel that it's an easy target and, therefore, at risk. Also, a catalytic converter is a very specific thing to steal from a car. What's all that about?

Theft of catalytic converters is quite big business these days as they are non-traceable items that have a relatively high scrap value.  Organised gangs of two or three men will go round in a van with the necessary equipment and can steal dozens of the things in a single night.  The old Honda Jazz seems uniquely prone to being targeted by these thieves, apparently because of the fact that the catalytic converter is mounted underneath and simply drops off if the exhaust pipes on each side are cut.  Perhaps, ironically, this makes Honda Jazz insurance more expensive; they should really be one of the cheapest cars to insure! 

Re the other point: yes definitely, do shop around.  Your insurance sounded expensive to begin with, circa £80 a month for an experienced driver and a low powered car is extortionate even with a claim.  Did you have protected no claims?  

milo11

MalMonroe said:

You can still shop around, surely? I would have done anyway, as you were about to. I would never  just accept a renewal with the same company, unless they agreed to reduce their price. 

I might have been tempted to see if I could get the catalytic converter replaced by a garage rather than claiming on my policy. Last time I contacted a car insurance company, just to make an enquiry, not even to claim anything, they logged my call as a claim on the Motor Insurance Database for five years. I had to mention it every time I bought car insurance and they said it wouldn't affect my premiums but it did. And of course, I expect that you had to pay an excess. Sometimes you have to weigh up the benefits of claiming, or not.

The problem now is, if your car is parked on a public road, insurance companies may feel that it's an easy target and, therefore, at risk. Also, a catalytic converter is a very specific thing to steal from a car. What's all that about?

If I were you I'd definitely start shopping around for some decent insurance as your current policy is due to expire next month but of course now you'll have to report the theft of the converter and your claim of course and most insurance companies are likely to quote higher premiums because of that. The insurance company you're currently with would probably have quoted a higher price anyway, whether or not a claim had been made.

Thank you for your response, apparently hondas and toyotas of a certain age has been targeted from certain years as the convertors have specific metals in them which make them valuable, I wasnt aware of this before we logged it with the police. I cant park the car off road as there is a gated electric subway next to my house which we have never had keys for and tgehre is no otther way to get a car into the back garden. due to location we couldnt get a dropped kerb at all so there is no driveway and every one seems to have space for a car outside their own house without problems, but there is nowhere else you could park really but the car goes with my husband at night to his work, which is then kept in a secure carpark next door to a police station. If I had been working in the office instad of at home, the car would have been in a patrolled carpark, however at present, I have to work from home. We did get a couple of quotes that varied from 600 - 2000 therefore I made a  claim as I only have to pay 100 excess. The guy from the garage today has told us we can buy a seperate guard for 220 to protect the new convertor but that it would be unlikely to be taken again as the new one doesnt have the same metals the thieves are after. I will have a loom at shopping around, thank you for your response I do appreciate it

milo11

missile said:

Paying monthly is more expensive. If you do not have the funds it might be cheaper to get a loan?

thank you for taking the time to respond, I wish I could take out a loan however unfortunately my credit hasnt been very good. I have been working hard to pay off what I owe (was working tywo jobs but can only do one at present) however loans are still out of my reach at present

milo11

Ditzy_Mitzy said:

MalMonroe said:

The problem now is, if your car is parked on a public road, insurance companies may feel that it's an easy target and, therefore, at risk. Also, a catalytic converter is a very specific thing to steal from a car. What's all that about?

Theft of catalytic converters is quite big business these days as they are non-traceable items that have a relatively high scrap value.  Organised gangs of two or three men will go round in a van with the necessary equipment and can steal dozens of the things in a single night.  The old Honda Jazz seems uniquely prone to being targeted by these thieves, apparently because of the fact that the catalytic converter is mounted underneath and simply drops off if the exhaust pipes on each side are cut.  Perhaps, ironically, this makes Honda Jazz insurance more expensive; they should really be one of the cheapest cars to insure! 

Re the other point: yes definitely, do shop around.  Your insurance sounded expensive to begin with, circa £80 a month for an experienced driver and a low powered car is extortionate even with a claim.  Did you have protected no claims?  

thank you for responding I do appreciate it. I have got protected no claims so I was suprised it would be so high, everything you have said about the targeting is what I have been told by the police and several other people since, I never knew this before. We have had the car since 2013 and its brilliant, never had any problems until now, its a shame I have literally nowhere else I can keep a car other than outside my house. I will look around though, thank you

Sandtree

milo11 said:
I have got protected no claims so I was suprised it would be so high

You have to remember how NCD Protection works.... in the good old days a 4 years NCD would typically be a 60% discount so NCDP simply means that because you've only had one claim you still get a 60% discount but it can mean that your premium goes up from £1,000 pre discount to £1,500 pre discount and so a £300 increase post discount... still better than it would have been without it but it doesnt fully protect against increases.

Its been a while since I have worked in consumer motor insurance but from bits I've seen NCD has gotten more complex in recent years too and many now talk about "average discount" or are totally silent on what actual discount they are applying. Plus remember that somewhere in the region of 85% have 4 or more years NCD and so the higher end discounts are the norm not the exception.