Hybrid car insurance refusals, LV=, etc ........

[Maxiboy]

I received an email from LV= Insurance company who I am insured with. This is an extract from that email:   

"We wrote to you recently about your car insurance policy for TOYOTA AURIS HYBRID ICON TSS HSD AUTO  to let you know that we’re unable to offer you renewal quote due to a change in our underwriting approach for your vehicle type"

Apparently, the TOYOTA AURIS HYBRID ICON TSS HSD AUTO has been targeted by car thieves nationally and there LV= decided it's not profitable to insure this model.

Has anyone else come across this problem?

[FROSTYBALLS]

Similar topics merged.

The theft angle is more likely the reason for the change in policy, rather than the fact it is a hybrid as mentioned in the first post.

Other cars with high theft rates (eg. Range Rover, etc), either of the car or from the car, have also been affected by insurers refusing cover.

 

[Cyker]

I didn't think the Auris was that much of a theft risk; I can't remember the last time I heard of one being nicked! They're just not that desirable for theft as they're so common and not exactly expensive.

The only common risk with them is the catalytic converter, but with mitigation strategies like the protection plate, that should lower the risk substantially...

For some reason they're already on my blacklist along with morethan and axa so they wouldn't see money from me anyway  

[flash22]

yes it's been like this for years, most have a Cat theft clause in the policies, catloc's in standard form have little protection as they just cut the brackets unless they have revised the design

[FROSTYBALLS]

41 minutes ago, FROSTYBALLS said:

Other cars with high theft rates (eg. Range Rover, etc), either of the car or from the car, have also been affected by insurers refusing cover.

Car theft doesn't just relate to the vehicle being stolen, but also theft from the car.

[Guest]

A lot has been going on with insurance this last year. They're finding that covering the cost of EVs isn't all that easy. With one off designs and parts and the general public finding new and exciting ways to damage Battery units / sensitive components, it's them who needs to foot the cost. Which is hilarious on the insurers until you find that they're passing the cost on to US!  Even us non-EV, reliable Hybrid driving folks. 

Funnily, my mum who has over 20 years of claim free driving and opted for Tesco Bank Insurance last year around 400 got a renewal quote of 750!  How on earth do they justify that?  

Easily resolved in her case. Quick look online. Around 400 ish prices came up first try. From one of the never heard of em providers, but who are on Compare The Market so must be legit (enough..).

Interesting move from the insurers... Given that allegedly, the country will become more flooded with EVs (Hybrids at least..) they'll find that they are locking themselves out of an increasing percentage of the general population. 

Probably temporary though. Until they or (the under writers) sort out how they're going to deal with the influx of inflated EV claims which, if the big green plan goes well, won't be going away anytime soon 

[MagicBoy]

I've just signed up wit Toyota Insurance Services (Aioi Nissay Dowa) as of this afternoon, no other quotes got within £150.

Trustpilot reviews don't look stellar, but I'll take the risk.

[Cyker]

I will say getting in contact with them can be difficult (My dad told me he was on hold for 3 hours trying to start a windscreen claim when he was with them!), but they will only use Toyota-approved dealers, repairers and parts for repair which removes a bit of the worry about substandard parts or bodging, which you can get from some of the other insurers (I'm looking at you eSure and Rye Street Group with your epoxying my Mk1's rear bumper and lights!)

The fact that you even got a reasonable quote out of them, rather than a ridiculous £1k+ one, I'd take as a good luck omen for the rest of your year, as that's only happens a few times in most car's lifetimes  

You have been Chosen! So enjoy it while it lasts  

[MagicBoy]

My Dad used them when he bought the car new, but they for some reason refused to quote when I took ownership.

I'll happily take a £600 quote, over an £1k+ renewal from Direct Line!

[Dezzer21]

I’ve just tried LV and they quoted no problem on Y Cross.

 

[Saxmaniac]

Mine's been with LV for last 2 years, renewal in a couple of months so we'll see current situation from that 

[Drew Peacock]

this is happening i'm affraid.

we've had our leaf almost 2 years. when we go the car it was 500 quid fully comp for a year with our insurance company. my wife automatically paid the renewall last november it was 650 quid. i thought ah thats ok not so bad. over xmas i checked our insurances and that 650 quid was for 6 months.

lucky we only had renewed it for one month. i called them cancelled it immediatly. shopped around and got it for 450 quid for a full year. seems ev's are becoming very expensive to insure.

1300 quid a year lol. my 2017 v8 camaro was only 700 quid.

buyers beware

[AndyN01]

Very interesting thread - thanks.

As for Insurance Companies..... They're a business and the primary purpose of a business is to make money. They are not there to "help" you, they are there to make money.

Unlike, IMHO, a service who's primary function is to provide, well, a service 😀. e.g the Fire Service, the National Health Service etc. etc.

Andy

[casuarina]

This happened to me too. My Auris hybrid had been insured with LV before, but they refused to quote for it. I managed to get Aviva Zero for just over £300 plus full breakdown cover, protected No Claims and Legal for under £400 (no excess).

[mizunoman]

I'm due to take ownership of a new C-HR and went to get an insurance update from my current Corolla. Neither the RAC nor any companies through Compare the Market and Confused could offer insurance. Anyone else experiencing problems?

[Bper]

Hi Mike, this has now become a problem for many owners, I think the insurance companies have looked at the high cost of repair or replacement and decided not to take the risk on. No doubt anyone who does quote is going to ask for a high premium. Many articles online about people facing the same insurance problems.

 

[philip42h]

The world does seem to have gone slightly mad about insuring hybrids - my present insurer won't currently provide me with a quote at all ... but others will via Confuse the Wombat etc..

You could try Toyota Motor Insurance ... 

[flash22]

Change your voluntary excess, LV is underwritten by Allianz and has dropped a lot of customers

A brand new car, is very high risk over 65 is another high risk group

Try a broker like Adrian flux, but do it over the phone

[FROSTYBALLS]

Also see:

 

[Bper]

So is this type of insurance cover going to be classed now as specialised, if these companies refuse to cover how are you going to get insured other then paying a fortune.Then what is the future for both the manufacturers and the motorist. Bleak doesn't cover it.🫣

[Leo63]

I have insured my CHR GR SPORT with NFU insurance  for the last 2 years with no problem.

[dannyboy413]

And I have just renewed my Yaris Cross without any problem. The insurance is with Aviva Ireland and I did not have a problem when I changed cover from the Corolla last April.

[philip42h]

We renewed with LV= last October, no problem and decent rates; now they won't provide a quote ... 😉 

[Chas G]

I insured my 2022 Yaris Cross with AIOI Toyota Insurance Services - fully comprehensive, one driver, 20 years no claims bonus protected and it cost £750 which seemed a lot but I am 70 and live in West London with car parked on the road.

[Penfold72]

Mine was £470 last year, they wanted £670 this year!!!  I managed to get the lowest at £605.

This is with 20yrs no claims, 52 year old driver.  I think they make alot of it up!!!