Significant Insurance Premium Increase

[Graham47]

Yes, “insure the box” are a telematics insurance company.

You pay a certain amount to insure the ‘parked’ vehicle then so much per mile.

Having picked up my new Yaris Excel using Toyota ‘three day’ drive away insurance I got in touch with Saga to transfer to my (fixed price Yaris Mk3) existing policy.  I was expecting an increase but they wanted over 200% 😳.  Their underwriters were refusing to transfer mid policy and wanted to start a new one.

Looking at both Lv and DirectLine gave equally high figures as did 2 comparison sites, sometimes from companies I’d never heard of .

I’d already had he quote you get from Toyota Insurance (usually not particularly competitive) and this time it was very competitive so that’s where I eventually went.

Brand new policy and 6 months refund from Saga to put towards it.

 

[Corollanutter]

Just had my renewal from LV come through for the Corolla. Gone up from £305 last year to £314 this year. Looked on various comparison sites and can’t get near it.  Last year I moved to LV via Go Compare and got the £250 free excess cover. However the excess cover ceases if you just renew. So I went via Go Compare again just to see the price from LV. Came out to £365. So I decided to “take the risk” and just renewed direct. 

[Catlover]

55 minutes ago, Corollanutter said:

Just had my renewal from LV come through for the Corolla. Gone up from £305 last year to £314 this year. Looked on various comparison sites and can’t get near it.  Last year I moved to LV via Go Compare and got the £250 free excess cover. However the excess cover ceases if you just renew. So I went via Go Compare again just to see the price from LV. Came out to £365. So I decided to “take the risk” and just renewed direct. 

I been with LV for at least 7 years now. Every year I compare what going on on the market and usually LV is the best price and best value. Couple times some I known company beats them, not by a lot and as LV does perform well in time of a claim I stick with them. 

[TonyHSD]

Lol, you guys are talking about such good prices in comparison to my quote, but I understand the differences ads up. I will try LV then and also Aviva directly on their sides has a good covers often. We will see. I am not driving as much as before now so perhaps may save some £££ to compensate the usual and usual yearly increase. 👍

[Cyker]

Yeah, my initial quotes were close to 3x what theirs is!  

 

[Rosgoe]

I’ve just changed to the AA let’s hope there premiums will be as good as there claims procedure if needed (hope not) was with direct line premium went up from £210 from last year to £290 this year complained to them reduced it to £284 big deal !

I have had a good service from them in the past when I had the auris someone reversed into me had a top of the range Vauxhall suv as a courtesy car not your basic hatchback.

you would have thought that as I have the house insurance and pet insurance with them that they could have done better than £284.

[JDK-SL7]

My insurance was £804 last year.... Now being quoted £1,591 for next year.

Eeek. 

[Flatcoat]

Dreading my renewal at the end of the year. SWMBO pranged the car last week (her fault) so looking at no claims taking a hit too. My other cars insurance was up almost 50% at renewal last month, couldn’t find anyone cheaper. 

[Strangely Brown]

50% increase for me this year through a well known broker. They trimmed as much fat as possible to still provide decent cover at an "acceptable" price. Comparison sites show a couple of prices for a few quid less but for significantly less cover.

The blame was laid at the door of increased cost of parts and repairs, pretty much across the board. I don't expect things to change next year.

I'm just really glad I don't have a BEV. 100% increases and more are not uncommon with some insurers refusing to quote at all.

[Rigsby]

Well, just had my renewal from GA, fully comprehensive, protected NCB, legal cover etc, only myself (68) and my wife (66) to drive, nothing changed in past 12 months (except both of us and the car a year older)

Last year I paid £277.93 including breakdown cover

Renewal £520.21 including breakdown cover

Just been on some comparison sites and quotes vary from £526 to £2,184.00

A friend has a Range Rover Sport and his insurance company won’t renew his insurance, again nothing changed in his circumstances.

[ToyotaFanDriver]

Its become a scam, akin to the health care insurance system in America. Everything to do with a claim is over inflated and over quoted because its through insurance, from courtesy/hire car through to the time and labour taken to fix things. Dont get me started about the lack of action about thefts (perhaps copy the saudis and stop chopping the hands off the scum).

[ColinB]

Mine went from £350 last year to £630 through M&S with no changes (apart from reaching 70). Looking around I saved £100 by changing to the Post Office which included a few extras. Glancing at the fine print the underlying insurer is the same - BISL 🙄

[Old Fart]

I changed to The Post Office too, I thought the "extras" were good value.

[ROCKETRON]

Just had an email from lv= , who I have been with for years, and they are saying that at my renewal in April they will no longer be covering Rav4 and I need to find another insurer or car. They quote the ease of stealing them and the cost of repairs. I don’t know if this is only for London cars or all rav4s. Are others still getting cover for RAV4s with LV or is it just London and Brum. If it is all ravs then nobody will want to buy them. Be interesting to hear if others are getting similar mails.

[robo1]

Article in the DM about car theft with the RAV being the 5th most stolen car with 1 in 123 stolen last year. Perhaps LV= should look at it the other way. 122 in 123 are not stolen! 

[Rav Rob]

45 minutes ago, robo1 said:

Article in the DM about car theft with the RAV being the 5th most stolen car with 1 in 123 stolen last year. Perhaps LV= should look at it the other way. 122 in 123 are not stolen! 

Yes I was just reading that, we proud RAV4 owners are racing up the chart, even some JLR cars below us now.

Over 3 years you would have a 1 in 40 chance of having it nicked. 

Good reminder I need to book my CAN plate fitting although that won't help with insurance. Not unless Toyota can persuade insurers to recognise it, not going to happen.

May have to get a steering lock too, although part of me really resents buying a 40K car from the worlds biggest car maker and having to use a crude locked crowbar just to try and keep it on my drive. Its a global product that probably cost 100's of millions to develop, surely they could put a decent team aside during development to look at it and say how could we steal this? so we can stop it.

[Hayzee]

1 hour ago, ROCKETRON said:

Just had an email from lv= , who I have been with for years, and they are saying that at my renewal in April they will no longer be covering Rav4 and I need to find another insurer or car. They quote the ease of stealing them and the cost of repairs. I don’t know if this is only for London cars or all rav4s. Are others still getting cover for RAV4s with LV or is it just London and Brum. If it is all ravs then nobody will want to buy them. Be interesting to hear if others are getting similar mails.

Have you been able to get quotes from other insurers via the compare sites?

[ROCKETRON]

30 minutes ago, Hayzee said:

Have you been able to get quotes from other insurers via the compare sites?

Not yet as it’s 3 months till it runs out. May consider selling it if can’t get a decent price insurance. It would be a shame though as I like the car a lot.

[ROCKETRON]

Robo1 by DM do you mean the daily mail? I have just looked at mail on line and there was an article about car crime but the Rav wasn’t even mentioned in the top ten cars stolen.

[Moleman]

14 minutes ago, ROCKETRON said:

Robo1 by DM do you mean the daily mail? I have just looked at mail on line and there was an article about car crime but the Rav wasn’t even mentioned in the top ten cars stolen.

Daily Mail today:

Fifth is the Toyota Rav4, of which 1,164 out of 142,919 models on the road being stolen in 2023, or 1 in 123.
 

[FROSTYBALLS]

Topic moved to Insurance Discusions.

[robo1]

40 minutes ago, ROCKETRON said:

Robo1 by DM do you mean the daily mail? I have just looked at mail on line and there was an article about car crime but the Rav wasn’t even mentioned in the top ten cars stolen.

Article here. https://www.dailymail.co.uk/news/article-13060215/Britain-stolen-cars-Interactive-graphic-targeted-thieves-list-Lexus-RX-Range-Rover.html

[ROCKETRON]

Thanks robo1 I have seen it now, but in the motoring section on mail on line they show the list of most stolen cars 23 with fiesta at the top and no mention of rav4. 

[robo1]

7 minutes ago, ROCKETRON said:

Thanks robo1 I have seen it now, but in the motoring section on mail on line they show the list of most stolen cars 23 with fiesta at the top and no mention of rav4. 

I think those figures were total numbers of cars stolen and did not take into account the number of cars on the road. Obviously there’s a lot more fiesta’s on the road compared to RAVs so you would expect more Fiesta’s to be stolen. 

[ROCKETRON]

Thanks robo1 yes you are probably right as that makes sense. I will try to speak to lv this week and see if they are refusing to insure all ravs or just some from certain areas. I will try a comparison site to see if I can get cover from a good insurance company , if not I will have to think about selling it. It seems also that hybrids seem to not be popular with insurance companies which is ashame as I I like them. I may also ask lv what they will insure in London. 
Don’t know what the selling price for my rav would be, probably not very much if people can’t get insurance.