Insurance renewal surprise

[Wakefield5]

So, insurance renewal has come through. Obviously I know you never accept the renewal without trying to beat it and I’m staggered by the prices I’ve had.

According to the renewal notice last years cost was £650. I remember thinking it was higher than expected but put it down to the lack of NCAP rating on the 5, lacking some safety features that the LR now has and it being a new EV with little insurance history.

After bartering I’ve just renewed for £386 and literally nothing has changed since last year. Has anybody else seen similar or was I just ripped off last year?

 

[Lguk]

Price walking has ended and so far I'm seeing lower quotes, not higher, can't quite figure that out.

5 long range picking up Tuesday full comp, 15k miles 2 named drivers £366, that's £100 cheaper than my xtrail daily. It was also £100 cheaper than quotes I had on a standard range last year. Big yella came in at £260 down from 360 this year too.

'On the day' insurance has always been higher if you can buy it to start in a weeks time you get a better price. This is something to do with cooling off periods and people buying insurance to cancel a week later. So it's legal for taxing it then go on their merry way uninsured for 50 weeks as if ANPR isn't a thing.

 

[ksadd123]

I'm hoping I get that. Insurance now send renewal amount 7 days before instead of 21 days. I have a quote that expires in 30 days so covered if the price goes up.

I am hoping as your its goes down significantly.

 

[seye]

So, insurance renewal has come through. Obviously I know you never accept the renewal without trying to beat it and I’m staggered by the prices I’ve had.

According to the renewal notice last years cost was £650. I remember thinking it was higher than expected but put it down to the lack of NCAP rating on the 5, lacking some safety features that the LR now has and it being a new EV with little insurance history.

After bartering I’ve just renewed for £386 and literally nothing has changed since last year. Has anybody else seen similar or was I just ripped off last year?

I have seen the same. High quote that magically reduces if you challenge it. It does help if you know the price of the compitition via a comparison website.

I have even had it where the comparison is the same company. They cant give you that price up front apparently. If they refuse on the phone I just renew online via the website. I get to go to the cinema cheeper then too ;-) I always switchoff auto renew so I dont ge caught by the rip off rates

In terms of sweet spot for buying insurance read this We reveal the best time to buy or renew your car insurance

Another tweak is your miles. Use a comparitor and try a few numbers. My Son saved hundred by gradually increasing the miles until it jumped. He ended up at something like 13750 rather than rounding up to 15000. He only needed 10000 but it was actually the same price until it jumped so he just optimised it.

I have just got a quote for new ZS TR Trophy. I am insuring it under my busiess, which is new so the joy of zero years no claims. Really interesting how one company takes into account no claims on other cars, whilst nother doesnt. £380 vs £760 !!

 

[Kithmo]

I have seen the same. High quote that magically reduces if you challenge it. It does help if you know the price of the compitition via a comparison website.

I have even had it where the comparison is the same company. They cant give you that price up front apparently. If they refuse on the phone I just renew online via the website. I get to go to the cinema cheeper then too ;-) I always switchoff auto renew so I dont ge caught by the rip off rates

In terms of sweet spot for buying insurance read this We reveal the best time to buy or renew your car insurance

Another tweak is your miles. Use a comparitor and try a few numbers. My Son saved hundred by gradually increasing the miles until it jumped. He ended up at something like 13750 rather than rounding up to 15000. He only needed 10000 but it was actually the same price until it jumped so he just optimised it.

I have just got a quote for new ZS TR Trophy. I am insuring it under my busiess, which is new so the joy of zero years no claims. Really interesting how one company takes into account no claims on other cars, whilst nother doesnt. £380 vs £760 !!

I had no NCD when I first got my ZS in July 2020 as it was my second car, I still had the Prius, It cost me £301.

 

[seye]

I think the older ones are lower insurance group. 21 vs 28? Either that or I must just be a higher risk :-(

 

[Ron61]

I just got insurance with Flow, £387 with protected no claims.

 

[seye]

I just got insurance with Flow, £387 with protected no claims.

I have just looked at them, they have an interesting monthly subscription insurance model too. That may be very useful for the few months I have an additional car.
I could use that to insure MG with my full NCD and just do the monthly version on the old car until it goes

 

[Prof1967]

Just had my renewal through on my MG5 SR Excite. Last year fully comprehensive was £286.79 and this year its £283.93. That's based on full no claims bonus and no convictions.

 

[Lguk]

The joys of price walking being banned. No insane quote to reject and go hunting for a deal.