Insurance Rip Off

[MoggyMatt]

For 2012 Fiat 500 1.2, £265 with 13 years no-claims. That's a £65 increase on the previous year due apparently to me living in an area with a high vehicle crime rate and a high percentage of insurance claims within your postcode area.

For 1961 Minor 1000 (948), £89 on a classic car policy with no no-claims being used. Why so cheap I asked the man? It's because you live in an area with a low vehicle crime rate and you are considered a low risk sir.

The funny part... it was the same insurance broker. Go figure

[katy]

Sure, and if you point out the anomaly to him he'll increase the premium on the 1961 Minor 1000 (948).
You just can't win.

[les]

That's a mistake asking why it's so cheap--he'll remember that next year!

[MarkyB]

Insurance statistics will show that there have been a lot more claims on Fiat 500s than Morris Minors recently.

[MoggyMatt]

Very true. Now I think about it, the "type" of people who drive the new fiat 500 generally wont be as careful as the (mostly) enthusiasts who drive Minors. And there's loads and loads of 500s around here (at least half a dozen on my estate alone) increasing the chance of accidents of thefts.

Its still very maddening when your policy cost is worked out on the basis of how well your neighbours drive though. A carefully built up no-claims doesn't seem to count for much these days. 3 years ago, I was paying £170 on the Fiat, and I haven't made a claim. Ever. Shopping around can't get it any lower ether.

[bmcecosse]

Use Go-compare to find the lowest cost for your renewal - but you need to do this almost a full month before your renewal is due - otherwise the price goes up almost daily as the renewal approaches! I just re-insured my modern for £144 - 9000 miles/kept on driveway/two drivers -low excess etc etc with Privilege. Was with Hastings Direct - robbing b^&$%£ds. They even slip on a £5 fee just for arranging the insurance !

[les]

It gets complicated, a recent consumer thingy said you need to compare the comparison sites as they vary in price for a given insurer!