I just got roasted for insurance..big time.

LostKiwi

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OMG... I can await my renewals with trepidation- thanks, LK

Interestingly I have 2 cars with LV and they were both unchanged when renewals came through last month.
Can't understand why MrsLK had such a hefty increase since nothing has changed.
 

davemercedes

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Like everything these money grabbing morons do -
- Because they can !
 

A.J.

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MrsLK had her renewal for her Mini this week.
Nearly doubled in price.
Onto the comparison sites and same policy from same company almost the same as she had been paying. Quick call to them and no joy - they offered £30 discount on the renewal (less than 1/6th of the increase!).
She moved to another company which was £20 per year less than she had been paying.

They have got to be bonkers, they have now lost a customer. Customers are easy to lose, but very hard to get, don't understand it al all :rolleyes:
 

davemercedes

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Yes, but frankly the insurers couldn't care less. Just like bookies they play a percentage game and if they decide to hike prices in any area they know they'll lose X% of customers and they also know that Y% will just pay up. And don't forget in each of these companies there's a CEO picking up around £3M with his gang of directors copping another £10M or so.
 

bjackson

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Interestingly I have 2 cars with LV and they were both unchanged when renewals came through last month.
Can't understand why MrsLK had such a hefty increase since nothing has changed.
Interestingly I have 2 cars with LV and they were both unchanged when renewals came through last month.
Can't understand why MrsLK had such a hefty increase since nothing has changed.
For years LV were always the best quote I ever found. A few years back they became uncompetitive and I left them. Currently with Sainsburys Insurance.
 

Bazooka Joe

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Just had several quotes come through for my yet to be built E300 Cabriolet and was quite surprised as several main stream providers including LV were quoting around £330 p.a with £750 excess. I have 12 years no claims and a squeaky clean licence.
 

davemercedes

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Because they can...

As per LK’s post above they’ve done the classic of creating a large customer base and now they’ve switching it from providing fair value to milking customer revenue.

Yup, because they can.
 

davemercedes

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Double Rant (or Earwig ...as in ear we go again!)

My renewal with LV has arrived via email today. Last year I paid £373.41 inc. - I have 9 years NCD (maximum LV allow although I last claimed about 25 years ago) and the price includes a discount for having another LV policy.

Unlike some people, I did not get even an offer of reduction during the pandemic although like most, our mileage fell like a stone. The renewal is £416.05 i.e.: an increase of £42.64 (11.4%). I think it's quite disgraceful. How I wish my income from pensions (for which I paid in some 60 years) had risen by 11%.

So the money grabbers are on form and I think now, on principal that I'd move even if it cost me more to go elsewhere.

Ah well, Go Compare and Meerkats here I come!!

btw:

In case nobody has noticed on their renewal documents, the small print about foreign travel now says we are covered in GB, Northern Ireland, Republic of Ireland, Isle of Man and Channel Islands. It goes on to say that "When driving in EU countries and those following EU directives , if a green card has been issued you'll have the same level of cover.... etc

I take that to mean there'll be a fee to pay for that privilege in future and it also means we have to plan dates of travel well in advance as opposed to just going whenever we felt like it. Just another couple of things thrown away by Brexit (and obviously ignored by our apology for "negotiators"!

OK - rant over (I hope there isn't a chapter 2 although we have another LV policy on SWMBO's car that's due in a couple of months)!

PS: I hope everyone is keeping safe and well and is not badly affected by the changes after furlough.
 

Srdl

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Double Rant (or Earwig ...as in ear we go again!)

My renewal with LV has arrived via email today. Last year I paid £373.41 inc. - I have 9 years NCD (maximum LV allow although I last claimed about 25 years ago) and the price includes a discount for having another LV policy.

Unlike some people, I did not get even an offer of reduction during the pandemic although like most, our mileage fell like a stone. The renewal is £416.05 i.e.: an increase of £42.64 (11.4%). I think it's quite disgraceful. How I wish my income from pensions (for which I paid in some 60 years) had risen by 11%.

So the money grabbers are on form and I think now, on principal that I'd move even if it cost me more to go elsewhere.

Ah well, Go Compare and Meerkats here I come!!

btw:

In case nobody has noticed on their renewal documents, the small print about foreign travel now says we are covered in GB, Northern Ireland, Republic of Ireland, Isle of Man and Channel Islands. It goes on to say that "When driving in EU countries and those following EU directives , if a green card has been issued you'll have the same level of cover.... etc

I take that to mean there'll be a fee to pay for that privilege in future and it also means we have to plan dates of travel well in advance as opposed to just going whenever we felt like it. Just another couple of things thrown away by Brexit (and obviously ignored by our apology for "negotiators"!

OK - rant over (I hope there isn't a chapter 2 although we have another LV policy on SWMBO's car that's due in a couple of months)!

PS: I hope everyone is keeping safe and well and is not badly affected by the changes after furlough.
LV have advised Green Cards this year and I ordered mine back in March ready for our French trip this month (which never happened). Ordered online via LV website and it came within a week - no charge. It lasts until the policy renewal so just order one after you renew and then you have it “whenever you feel like it”
.
 

davemercedes

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Well, it may have been done in a fit of pique but I've set up a new policy with Hastings Premier which includes most of the "extras" that others charge for such as the basic legal assistance and breakdown (which I don't need but I saw that the freebie included misfuelling so I let it ride).

I re-evaluated our annual mileage and reduced it as well but I know from experience that LV would either say "No change" or give me £5 off but even so, I've saved £110 and I think got a better policy (it's defaqto 5*). I shall do the same with SWMBOs car later. My wonga is better in my bank than LV's!
 
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Doors

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NCD is a right scam.
You have one car and 9 years NCD.
You buy a second car. You can't use your 9 years as that's used on car #1. So you start from zero again (some insurers will now allow carrying NCD over to another vehicle).
5 years on you have an accident thats your fault in car #2 which then affects the policy on car #1!
When I retired and wound up my small ltd company, I bought My works van from myself. Because of the name change I lost my NCB. So from paying £280 a year for 20k mileage, I then had to pay nearly 600 for 4k annual mileage.

Also got ripped off with the road tax, had to cancel with refund from the start of the following month, but then had to buy from the 1st of the current month,




I had max no claims, 20k a year with qui
 

Blobcat

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Just renewed the 911 for 3rd Jan - put my personal plate back on it which dropped the price by £1.07...:cool:

Renewal was £340 did a search and LV were still the cheapest, paid £312 which is cheaper than the SLK...o_O
 

Naraic

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On the other hand. I added another small car to my personal fleet. They (the broker), of course, stated that there would be no NCB for this car. We had a discussion...and the price was adjusted as if there was an NCB but not called an NCB.
 

Blobcat

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On the other hand. I added another small car to my personal fleet. They (the broker), of course, stated that there would be no NCB for this car. We had a discussion...and the price was adjusted as if there was an NCB but not called an NCB.
That happened to me when I bought the smart car, no NCB but managed to get a discount and they "gave" me 4 years NCB.

Just don't get into how you can have 18+ years NCB on 1 car and zero on another...o_O or that any claim affects the NCB on all cars (and bikes) but the NCB doesn't...:mad::mad::mad::mad:
 

Dean Fletcher

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Just sorted my father in laws car insurance out. Renewal quote came through £379 :eek: for a 17 plate astra. It had gone up £70. So I called them said I can get it cheaper elsewhere so they reduced it to £210 :D. Why can't they be honest and give you the best deal straight away.. Blood sucking leaches
 

A.J.

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Just sorted my father in laws car insurance out. Renewal quote came through £379 :eek: for a 17 plate astra. It had gone up £70. So I called them said I can get it cheaper elsewhere so they reduced it to £210 :D. Why can't they be honest and give you the best deal straight away.. Blood sucking leaches

That is just nuts ! I had very similar figures quoted on my renewal, I finally agreed £208. I wonder how many people do just accept the renewal premium and are paying way, way over what they could be paying. Still, that is their problem if they don't contest it :rolleyes:
 

Dean Fletcher

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That is just nuts ! I had very similar figures quoted on my renewal, I finally agreed £208. I wonder how many people do just accept the renewal premium and are paying way, way over what they could be paying. Still, that is their problem if they don't contest it :rolleyes:
I know 1000s people will be paying way over the odds.
I got a email from my insurer saying if you have been effected by the pandemic you can claim money back less miles less usage etc. I had a quick look and seemed like you had to go to the far end of a fart to sort it out I thought **** it I have got time. Seems like they purposely made it difficult.
 

A.J.

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I know 1000s people will be paying way over the odds.
I got a email from my insurer saying if you have been effected by the pandemic you can claim money back less miles less usage etc. I had a quick look and seemed like you had to go to the far end of a fart to sort it out I thought **** it I have got time. Seems like they purposely made it difficult.

I asked my Insurer (Tesco) if they were offering any relief because of the Pandemic and was told quite firmly 'No' :shock:
 

Jim2

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That is just nuts ! I had very similar figures quoted on my renewal, I finally agreed £208. I wonder how many people do just accept the renewal premium and are paying way, way over what they could be paying. Still, that is their problem if they don't contest it :rolleyes:


Its not "NUTs" AJD, its carefully calculated and designed to maximise prfits. Here in Ireland ( and UK too I suspect from reading these posts) For example, A and B have two identical cars, live on the same street, actually work for the same company, have same NCB and driving experience...identical twins in fact as far as insurance goes. Yet one owner's insurance is always anything from £40 to £90 more expensive. And this is because one has been loyal to the same company, and accepts their quote unquestionably year after year. This is how loyalty is rewarded, by screwing the loyal customer with higher premiums.They have a nice fancy name for it too...its called "Differential Pricing",and has been going on for years. Legalized banditry.
 

Kev555

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Just sorted my father in laws car insurance out. Renewal quote came through £379 :eek: for a 17 plate astra. It had gone up £70. So I called them said I can get it cheaper elsewhere so they reduced it to £210 :D. Why can't they be honest and give you the best deal straight away.. Blood sucking leaches

Ive heard something like this mentioned about insurance in republic of Ireland recently, I think its called duel pricing from what I can remember. Apparently the UK is going to outlaw this practice in next year and some politicians are calling for the same practice to be outlawed in Republic of Ireland. Duel pricing is where insurance companies gather information on you and use it to charge you an amount which they think you will pay.
P.S. Sorry Jim, just seen your post above which you have explained it already.
 
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