Re: Insurance renewal quote too high...Who are you with?

Fri May 20, 2011 10:42 pm

Hi Tony

With this 'agreed valuation'.
I've valued mine since i've had it for £4500.
I've been told IF you do have an accident and it's a right off, they will only give you the book value anyways.
Doesn't an agreed value put up the premium??
Whe mine is like KITT from top to tail i'd like to value mine a lot higher but is it worth it?
Cheers.............................Kev

Sat May 21, 2011 1:20 am

Hi Kev,

I thought the same way as you when I had the Cortina, and assumed that the £6.5K I'd spent on it would be safe due to condition and rare model (2 door) as similar cars were going for that sort of money, but when it got totalled I had to fight for months with insurers over market value.

They were basing value on PRE -RESTORED 4 door prices at around £2K instead of a restored 2 door and refused to budge, in the end I had to get an independent assessor to inspect the wreck, but even then he only valued it at £4.6K.
They then agreed to pay the £4.6K only, so I lost nealy £2K.

However, if I'd had agreed value on it, there would have been no argument and i'd have got the full £6.5K

Having the agreed value on KITT hasn't affected the premium at all with Footman James, so YES it is very worth it.

If anything happened to KITT I'd be gutted, but if I didn't get enough money back to replace him I'd be totally devastated.

Hope this helps,

Tony

Mon May 23, 2011 6:51 pm

Just a little bit of info RE: Insurance that might be of interest to some owners. Seems it will be illegal to park your car up on the road without insurance from June!!
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Mon May 23, 2011 10:44 pm

Hi Chris, yeah I saw that in a Government ad on the tv tonight.

Still, if it works in making it easier to catch these dirt-bags who drive around with no insurance then maybe it isn't such a bad thing.

Mon May 23, 2011 11:36 pm

Still I could see it being interesting when some numpty chav with 3rd party F&T wangs his speeding Corsa into someones parked up motor with NO insurance...

Thu May 26, 2011 6:48 pm

Tony Westwood wrote:hi all,

as the title suggests, I'm trying to find a cheaper quote for KITT as my current insurers are taking the 91$$.

I'm currently with Footman James, but the price has jumped from around £250 last year to over £450 this year????!!!!!

The cheapest quote I've got so far is Adrian Flux at £350, but that is only possible by increasing the excess on my policy from the £100 I'm currently on to £350!!!

Who are you insuring your KITTs with?

Tony

Hi Tony

Well guess what i recieved in the post today.My MCE insurance renewal.
They are trying to tell me my quote for this year( car undriven) FULL no claims e.t.c. has gone from £315 to £428!!
They are having a laugh and i will definetley be ringing around again for a better one.
This is a joke.
It seems the first year to get you to insure with them will always be cheaper.
I'm NOT happy with that quote at ALL.
If it does'nt get any better there will be one less driver in the UK.
Then again i'll have to get my car roadworthy and MOT'd first Smile

...........Kev

Thu May 26, 2011 8:43 pm

Let us know how you get on with the quotes, if I'm right it should make for interesting reading Wink

Thu May 26, 2011 8:53 pm

all car insurance has gone up ive full no claims and its still gone up 40% on my van its crazy

Thu May 26, 2011 11:08 pm

hey Steve, you have just illustrated my point very well...
40% rise on your van insurance is a rip off (unless van insurance has risen more than car insurance).

The "Experts" had warned a few months back that even if we haven't made a claim in the last 12 months premiums could still be as much as 35% more this year (meaning that 35% more should be the MOST that a premium should rise by if no claim made), but I'm finding that Insurers are initially trying to bump up the premiums by much more than 35% unless you phone around and then challenge them to beat a cheaper quote from a rival.

Initially my renewal quote was about 80% higher (from £250 to £457), and they said this was the best quote they could give me, but after phoning around for quotes the same insurance company gave me a quote of only £266 to prevent me leaving them and accepting the much cheaper quote from Graham Sykes.

Moral of this story.... don't fall for the B.S. from your insurers, if they are asking for more than an extra 35% they are taking you for a mug. Phone around for the cheapest quote, then phone your own insurers back and say "Beat this quote or I walk". I promise you 9 times out of 10 they will beat that quote.

I've also found in the past that on the odd occasions where they can't beat the best quote and you go with the other insurer... Next year they will offer you a REALLY low premium to get you to return to them.

Tony