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Insurance renewal

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#41
Explain to me this...

Year 1, car is new, premium is £847
Year 2, premium is now £1,080
Year 3, premium is now £1,147

Meanwhile no claims, points, changes or anything. Presumably (even though it’s Tesla and we all know they don’t depreciate *cough* ) the market value of the car would have decreased a little :)

Admiral insurance before you ask...
 
#42
Sean. said:
Explain to me this...

Year 1, car is new, premium is £847
Year 2, premium is now £1,080
Year 3, premium is now £1,147

Meanwhile no claims, points, changes or anything. Presumably (even though it’s Tesla and we all know they don’t depreciate *cough* ) the market value of the car would have decreased a little :)

Admiral insurance before you ask...
Click to expand...

Loyalty doesn't work with Admiral ... example above! I was quite happy to potentially change insurers if necessary but the renewal with Churchill went up by just £9 I think ... so stuck with them. Did you get alternative company quotes when you had the jump from year 1 to year 2?
 
#43
Adopado said:
Loyalty doesn't work with Admiral ... example above! I was quite happy to potentially change insurers if necessary but the renewal with Churchill went up by just £9 I think ... so stuck with them. Did you get alternative company quotes when you had the jump from year 1 to year 2?
Click to expand...
Loyalty with any company, period, doesn’t work these days. You get milked. So after I typed my message I decided to give them a call, and it turns out the beggars were insuring me at the original value of the car - and obviously only paying out at market value. My fault for not properly checking this in year 2 and letting it roll on auto renewal...

So I’ve adjusted the value on cover to reflect market value, and with some extra ‘special’ discount the renewal premium is now £853 - similar to Year 1 albeit at market value of 2/3 of new. I know also that premiums generally have elsewhere rocketed over the period - had to sit down when I got a premium quote on my bikes and my house and other insurances have all gone up not down.
 
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#45
Just renewed with DL, amazed at how cheap is it!! I must getting old, 10k per year, full NCD, not even £100 more than our Lexus.

50901094577_d4de2e9068_o_d.png
 
#46
Sean. said:
Explain to me this...

Year 1, car is new, premium is £847
Year 2, premium is now £1,080
Year 3, premium is now £1,147

Meanwhile no claims, points, changes or anything. Presumably (even though it’s Tesla and we all know they don’t depreciate *cough* ) the market value of the car would have decreased a little :)

Admiral insurance before you ask...
Click to expand...
LV seem to be the ones trying hardest, via the comparers. Worth changing immediately, I would have thought!
 
#49
Russinating said:
My M3 SR+ renewal premium with Directline has gone up to £759 from £645, meanwhile eSure and Admiral are coming in around £560 via compare website. Any other directs I should try?
Click to expand...
Try churchill, also try negotiating with direct line, churchill put mine up on renewal by about £150, phoned them up, they made it £80 cheaper than I paid the previous year.
 
#50
I have never had an insurance renewal that is not cheaper online, with the same insurance company. My Churchill renewal tried a £350 increase, Churchill were £80 cheaper on Meerkat for same policy. Maybe that is London?
 
#51
Just renewed with LV=.

Was trying to find an insurer that covered PPF, Dechrome and Fully Comprehensive Driving in the EU (for all drivers on the policy) for at least 90 days.

Only LV= and Direct Line met those criteria and I had to phone to get the EU cover pricing from Direct Line (my current insurer) which was an additional £64 per month.

LV= also cover for damaged/stolen charging equipment and will recover and recharge you if you run out of battery for no cost.
 
#52
Medved_77 said:
LV= also cover for damaged/stolen charging equipment and will recover and recharge you if you run out of battery for no cost.
Click to expand...

As an aside, standard AA membership (possibly same for other recovery services too) also cover a ' tow you to a charging point or your destination – whichever's nearer'. Not sue I like the idea of a tow in an EV though - hopefully it really means recovery by manufacturers recommended method.

Electric car breakdown cover | The AA
 
#53
This may well explain why my quote search this year went up again:
BMW, Mercedes and Tesla owners could be hit by higher insurance premiums

Plus the rare outcome that a not-on-comparison-sites insurer (Aviva) came out top (having never for any vehicle I've owned before). Also this time 98 insurers refuse to quote altogether (including eSure, ByMiles, QuoteMeHappy). Zurich underwriter remains inactive and AXA just refused. Adrian Flux gave amusing £1,900 quote.

£536 (new S) > £357 > £412 > £481 (March 2021)
 
Last edited:
#55
Obtaining quotes under 5 days from when you need it will inflate the price significantly compared to the optimal 20-26 days before. Might be worth experimenting with Aviva to set the start date further ahead to say 19th March. Doesn't quite beat the £4,700 quote I had from BeWiser once :)
 
#56
We got our Direct Line renewal through - a few £ difference. I did double check to see if it incorporated the covid reduced mileage discount - no mention.

I will shop around though as, based upon others prices, I always thought that DL were a little on the high side price wise for this car (probably same on previous car but it was much cheaper so less cost to force us to change). I think we are still being penalised for a no fault, unrecovered (car was parked unattended) car park prang claim from 10+ years ago.
 
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