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Car Insurance renewal - Bargain!


Davey P
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Just had my annual email from confused.com ready for my renewal next month, and I've sorted out a new policy.  My current insurer (SAGA) wasn't offered on there this time, so I had a look at the first few on the list, and decided to go for Halifax this time.  They weren't quite the cheapest, but there was only a few quid difference, so not enough to worry about.  I've been banking with them for decades, and also have house and contents insurance with them, so it made sense to keep everything in one place.  Also, I reduced the excess to just £100 (voluntary excess = £0, compulsory excess = £100) and that didn't seem to make much of a difference to the cost, so a no-brainer.

I thought last year was pretty good, at £18 per month, but this year is only £13.42 (with a £12.14 initial payment) so it appears I have reached the sweet spot of being old enough to be a careful driver, but not so old that I'm a bleedin' liability on the road... :lol:

As if that wasn't enough of a bargain, I will also receive a £20 Halfords voucher from confused.com :thumbsup_anim:

Today has been a good day.............

20200905_145339

 

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31 minutes ago, Davey P said:

Just had my annual email from confused.com ready for my renewal next month, and I've sorted out a new policy.  My current insurer (SAGA) wasn't offered on there this time, so I had a look at the first few on the list, and decided to go for Halifax this time.  They weren't quite the cheapest, but there was only a few quid difference, so not enough to worry about.  I've been banking with them for decades, and also have house and contents insurance with them, so it made sense to keep everything in one place.  Also, I reduced the excess to just £100 (voluntary excess = £0, compulsory excess = £100) and that didn't seem to make much of a difference to the cost, so a no-brainer.

I thought last year was pretty good, at £18 per month, but this year is only £13.42 (with a £12.14 initial payment) so it appears I have reached the sweet spot of being old enough to be a careful driver, but not so old that I'm a bleedin' liability on the road... :lol:

As if that wasn't enough of a bargain, I will also receive a £20 Halfords voucher from confused.com :thumbsup_anim:

Today has been a good day.............

20200905_145339

 

So you're no longer a Saga-lout ? 

Talk them down further, surely there must be more in it ? (kidding - sounds like you got a great deal) 👍

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8 hours ago, iborguk said:

So you're no longer a Saga-lout ? 

Talk them down further, surely there must be more in it ? (kidding - sounds like you got a great deal) 👍

That's right mate, I never really felt like I fitted in at Saga anyway, I'm far too young (er... in my head anyway! :lol:)

I don't think there was much room for negotiation on the price - If it went any lower, they would end up paying me...

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Just now, Davey P said:

That's right mate, I never really felt like I fitted in at Saga anyway, I'm far too young (er... in my head anyway! :lol:)

I don't think there was much room for negotiation on the price - If it went any lower, they would end up paying me...

I think you did very well there and nice photo of the car - v pretty. 😀

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  • 1 month later...

For me the cost is not the all important thing, I want to have an agreed value so can buy another if have an accident. Compare the market etc. companies will pay you market value which is several thousands less compare to what you will have to pay for a replacement.  

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1 hour ago, Freeman said:

For me the cost is not the all important thing, I want to have an agreed value so can buy another if have an accident. Compare the market etc. companies will pay you market value which is several thousands less compare to what you will have to pay for a replacement.  

Solid logic however it doesn’t fit every need - Agreed Value typically restricts mileage - fine if it’s a High Days car that’s garaged (usually another AV condition) but for anything like daily use the highest limit I found was 7500 miles which in a normal year isn’t enough for my 986. 

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  • 8 months later...

Think I may have had a result today as well, though just having a think about the consequences of having a claim on a multicar policy as I would lose NCB for 2 cars.

My wife has just got rid of her company car, so I bought a nice Mini Cooper S (R56). As she couldn't transfer any NCB from her company car, she took out a new policy with LV at a premium of £280 p.a. which I thought was OK.

My 987.2 Cayman is coming up for renewal and NFU Mutual have massively increased my premium due, I suspect, to having 2 windscreen claims in the past 18 months.

If I amend my existing LV policy for the mini to include the Cayman making it a multi car policy, then I will have to pay just £85 extra until mid May 2022 when that policy expires. Full years price for both cars equates to £394 according to the quote of which the Cayman 3.4s portion would be £236.

Looks like a pretty good deal to me.

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  • 1 month later...
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  • 1 month later...

It's that time of year again for me. I was interested in Agreed Value cover as the valuation I got from PCGB is about £6k higher than Market Value prices I've seen when using comparison sites.

I tried A-Plan, but they couldn't help. They gave me the names of a few competitors to try though, which was very nice of them.

One company gave me a quote with an agreed value, but it was way higher than the best quote I'd got through a comparison site. 'Don't worry' the nice agent told me, we do a standalone Agreed Value policy for £75 which you can buy alongside a policy from somewhere else. This will cover the difference between market value paid out in the event of a total loss and the agreed value (as long as the AV is less than £50k). Sounded good.

So I bought the comparison site policy and called back the next day to buy the standalone Agreed Value policy. Unfortunately, I spoke to a different agent who told me the previous agent had made a mistake - the standalone policy is not available anymore. Frustrating.

Instead, they offer a standalone Total Loss protection policy for £49 which will pay out an additional 25% of the market value paid out by the main policy (up to £10k, again only in the event of a total loss).

This might be my only option, but it will still leave me a bit short of cover against the PCGB valuation.

Has anyone come across anything like this? And if so, could you share the name of the company you used please?

Cheers.

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I took a call from A-plan this week to discuss my renewal, after initial checks the policy could renew for the same price as last year ..£270 , Did a quick  comparethemarket and I can get the same level of cover for £167 with esure

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On 12/16/2021 at 5:44 PM, Bayernlarge said:

It's that time of year again for me. I was interested in Agreed Value cover as the valuation I got from PCGB is about £6k higher than Market Value prices I've seen when using comparison sites.

I tried A-Plan, but they couldn't help. They gave me the names of a few competitors to try though, which was very nice of them.

One company gave me a quote with an agreed value, but it was way higher than the best quote I'd got through a comparison site. 'Don't worry' the nice agent told me, we do a standalone Agreed Value policy for £75 which you can buy alongside a policy from somewhere else. This will cover the difference between market value paid out in the event of a total loss and the agreed value (as long as the AV is less than £50k). Sounded good.

So I bought the comparison site policy and called back the next day to buy the standalone Agreed Value policy. Unfortunately, I spoke to a different agent who told me the previous agent had made a mistake - the standalone policy is not available anymore. Frustrating.

Instead, they offer a standalone Total Loss protection policy for £49 which will pay out an additional 25% of the market value paid out by the main policy (up to £10k, again only in the event of a total loss).

This might be my only option, but it will still leave me a bit short of cover against the PCGB valuation.

Has anyone come across anything like this? And if so, could you share the name of the company you used please?

Cheers.

I would maybe take the PCGB valuation with a little pinch of salt unless you're car is something very unique. They tend to be a little optimistic versus real life selling prices (and thus "true" values). 

If the car is highly modified or in some other way vastly different from most on the market, then it does of course make sense to go with an agreed value policy. 

The option to give you +25% versus market value would probably allow you to get into a very decent replacement so perhaps that's a good option? What car is it and how much are similar cars valued at on auto trader (and the like)? 

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16 hours ago, dunks said:

I took a call from A-plan this week to discuss my renewal, after initial checks the policy could renew for the same price as last year ..£270 , Did a quick  comparethemarket and I can get the same level of cover for £167 with esure

I did ensure this year £144, previous years have been with locktons , their renewal this year was £250 , admittedly it had breakdown cover and track cover , which I don't need , so went with  compare the market via topcashback ,got £25 , same cover and excess and agreed value  with esure  , hopefully I never need them 

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19 hours ago, Lennym1984 said:

I would maybe take the PCGB valuation with a little pinch of salt unless you're car is something very unique. They tend to be a little optimistic versus real life selling prices (and thus "true" values). 

If the car is highly modified or in some other way vastly different from most on the market, then it does of course make sense to go with an agreed value policy. 

The option to give you +25% versus market value would probably allow you to get into a very decent replacement so perhaps that's a good option? What car is it and how much are similar cars valued at on auto trader (and the like)? 

Thanks for your reply @Lennym1984

My car is a standard 987.2 S, so nothing particularly exotic or unusual. But it's in great condition, with very low mileage, plenty of options, and a full OPC service history.

Over the past few months I've seen lots of higher mileage, less well-specced cars on AT at considerably higher prices than the market value that flashed up when I was getting a quote through a comparison site.

I think you're right about the PCGB valuation, it probably is a little optimistic, and of course the cars on AT don't sell for their full asking price.

So you're probably right, the +25% vs market value will probably be plenty. £49 seems like a pretty good deal for the peace of mind. Even added to the main policy I just bought, it's a lot lower than what I paid last year and the renewal quote I got.

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  • 3 months later...

Had our Volvo XC60 renewal come today.Last year it was £373 this year £300.83.And also got a cash back from saga  of £40 for taking out there insurance for the 996 last Dec.So that’s £215 for year.

So for once quite happy with car insurance companies.

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  • 1 month later...

Just redone my car insurance with Churchill. Got a price via a comparison site and as needed to add in some NCB from a car we now sold it didn't match the renewal quote. As I already had a policy with Churchill the computer got a bit confused, so i rang them up and wit the NCB the price was the same as the compuer. Then said that it was a shame I wouldn't get £20 of halfords vouchers through the comparison website, he asked if it would be ok if he reduced my insurance by £20 instead ! can't complain at that. £158 fully comp

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insurance was down on the Porka and daily wagon this year. 

I must be a great driver or classed as an old driver at 55.5 years 🤔

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My renewal isn't until June, so haven't had a quote from Hastings yet. But we're members of the AA & thought we'd get an early quote,  9+ years NCB, fully comp & pleasantly surprised with £130 & no voluntary excess.  There was a mention of a £60 discount for something or other, so I'm assuming the quote includes this.

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