topsy turvey insurance

malcolmsmill

I just got my renewal... it was ridiculous.... but one of the big companies offered half the price (almost everybody would save me over £100)

HOWEVER.... I entered my details, the basic details got the offered price.... THEN I entered my security add-ons....

I already had the manufacturers imobiliser but I have added a thatcham alerm and imobiliser, an anti-jack sensor (stops the car being lifted to steal wheels or catalytic converter), a dashcam, a rear camera, locking wheel nuts AND a CatLoc making catalytic converter theft (a BIG problem nowadays)

As each one was entered, the quote went up..... the CatLoc made them reject the policy.

At one point we automatically got a discount for each security measure and preventing a catalytic converter theft (around £2000 on my vehicle) should be welcomed.

I had ALL the security left off the policy and paid the very reasonable fee... WITH no excess to the policy..... I will unbolt the extras and grind off the CatLoc.....

 maybe I ought to lay on a cream tea for prospective thieves, as well

daveyjp

Lots of security probably indicates a higher risk of theft, or attempted theft in the insurance algorithms. Price goes up.

Grumpy_chap

malcolmsmill said:

I just got my renewal... it was ridiculous.... but one of the big companies offered half the price (almost everybody would save me over £100)

HOWEVER.... I entered my details, the basic details got the offered price.... THEN I entered my security add-ons....

I already had the manufacturers imobiliser but I have added a thatcham alerm and imobiliser, an anti-jack sensor (stops the car being lifted to steal wheels or catalytic converter), a dashcam, a rear camera, locking wheel nuts AND a CatLoc making catalytic converter theft (a BIG problem nowadays)

As each one was entered, the quote went up..... the CatLoc made them reject the policy.

At one point we automatically got a discount for each security measure and preventing a catalytic converter theft (around £2000 on my vehicle) should be welcomed.

I had ALL the security left off the policy and paid the very reasonable fee... WITH no excess to the policy..... I will unbolt the extras and grind off the CatLoc.....

 maybe I ought to lay on a cream tea for prospective thieves, as well

I have not even heard of some of those security devices.
Some of the devices are portable (dashcam) so may, themselves, become targets.
Having all that long list of security might give the message that you are in a very rough area where attacks are very likely.
Maybe you have a very expensive / exotic car and you'd be expected to have secure garage but are actually parking on road?
Maybe the insurer sees the risk with items such as CATLOCK that they do not prevent the crime but simply increase the bill if you are the victim of the crime.

k12479

Grumpy_chap said:

malcolmsmill said:

I just got my renewal... it was ridiculous.... but one of the big companies offered half the price (almost everybody would save me over £100)

HOWEVER.... I entered my details, the basic details got the offered price.... THEN I entered my security add-ons....

I already had the manufacturers imobiliser but I have added a thatcham alerm and imobiliser, an anti-jack sensor (stops the car being lifted to steal wheels or catalytic converter), a dashcam, a rear camera, locking wheel nuts AND a CatLoc making catalytic converter theft (a BIG problem nowadays)

As each one was entered, the quote went up..... the CatLoc made them reject the policy.

At one point we automatically got a discount for each security measure and preventing a catalytic converter theft (around £2000 on my vehicle) should be welcomed.

I had ALL the security left off the policy and paid the very reasonable fee... WITH no excess to the policy..... I will unbolt the extras and grind off the CatLoc.....

 maybe I ought to lay on a cream tea for prospective thieves, as well

Having all that long list of security might give the message that you are in a very rough area where attacks are very likely.

Also kind of suggests that the driver might be a specific target. A bit like having an armoured vehicle, yes it's more secure, but there's a reason you'd have one.

Grey_Critic

Does he actually need all these security devices.

It is a bit like the early days of computers when we loaded them with Anti-virus programmes and such not realising we were creating problems.

Years ago I had an alarm - an immobiliser and a Krooklock - nobody was really interested in knicking the car.

Herzlos

I think it's more the *why*. Most drivers haven't heard of CatLocks, so why do you feel the need to fit a lock and a tilt sensor? Are you paranaoid about cat thefts or have you been previously targetted?

DullGreyGuy

Insurers work on the basis of statistics rather than logic. If they see people who keep their cars in the garage have a higher level of claims then they will price it higher rather than wondering if its because people keep hitting their own garage or something else.

The other issue is classification... insurers bucket things and have a finite number of buckets so it comes down to the customer or agent to decide what "locking wheel nuts" comes under... it may well fit into the same bucket as someone who's replaced their wheels with different alloys. As more people mod to new alloys than add lock nuts it means premiums go up as the majority in your bucket are more at risk of a higher value claim. 

Goudy

I wonder if it's about the damage.
If someone stole a unprotected Cat, as you say the claim maybe £2000.

If someone attempted to steal a Cat with a CatLoc on and was successful, that's a new Cat and the price of a CatLoc (£130 or so).
If they weren't successful, they might cause untold damage to the CatLoc, Cat and anything else located close to it. 

As already stated, their statistics might point to some devices as causing more expense to a likely claim.

DullGreyGuy

Goudy said:

As already stated, their statistics might point to some devices as causing more expense to a likely claim.

More likely or more expensive claims.

The CatLock almost certainly will be put in as a mod to the exhaust system which obviously is dominated by those putting "sports" options or baked bean cans rather than security. Doesnt mean it increases their vehicle performance but may indicate those that make those types of mods have a certain driving style that increases the risks.

Ectophile

Regardless of whether a mod affects the performance, it is likely to increase the cost of repairing a car after an accident.

eamon

Insurers like things to be standard i.e. as they left the factory/dealership. Deviate from that and the customer will pay extra.