Insurance time of year

Same old subject, Insurance is due. 

Just got this years renewal with Saga 3 year, wow was £335, now want £664 ----100% are they taking the mickey?

Gave then a ring and got it down to £480, taking my wife off and putting my 48 year old son on, wife has never driven it or intends to.

Tried the others, some want £190 windscreen replacement, some want extra for EU etc etc. Comfort, LV, Caravangaurd, CMC totally fed up with trying.

Why do they ask how much is the van worth, I thought they know what they will pay out for a total loss, basic trade price at best.

Any idea's will be welcome.
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Richard

Seems a bit steep. I have long ago arranged for all our insurances to begin on 1 July - that means I only have to do the chore of market testing / getting quotes once a year. Our 3 vehicles are with NFU. It's not easy to work ou the exact premium per vehicle, because to the sum of all three vehicle's quotes is deducted the NFU mutual bonus, and then tax is added. But for the three I ended up paying £729 [down from 2021: £864]; the base quote for the motorhome being £348 [2021: £295] (which then has a share of bonus deducted and tax applied). That gives an idea of the premium - increased for the motorhome. Note however that NFU does not include rescue etc for motorhomes (so I arrange that with GEM).

Hope that assists. I hate the annual chore!

Cymro

Cymro wrote:Seems a bit steep. I have long ago arranged for all our insurances to begin on 1 July - that means I only have to do the chore of market testing / getting quotes once a year. Our 3 vehicles are with NFU. It's not easy to work ou the exact premium per vehicle, because to the sum of all three vehicle's quotes is deducted the NFU mutual bonus, and then tax is added. But for the three I ended up paying £729 [down from 2021: £864]; the base quote for the motorhome being £348 [2021: £295] (which then has a share of bonus deducted and tax applied). That gives an idea of the premium - increased for the motorhome. Note however that NFU does not include rescue etc for motorhomes (so I arrange that with GEM).

Hope that assists. I hate the annual chore!

Cymro

Thanks, yes agree it is a chore! Will give them a ring tomorrow, not bothered about rescue etc as I have CSMA Brittania Rescue and legal aid.
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Richard

Richard: Should have added that the NFU's mutual bonus accumulates annually, so in year one there won't be a bonus (unless an introductory one may be offered). It's always hard to compare one person's quote with another's, because there are so many variables which the underwiters take into account. 

Cymro

Cymro, NFU does provide breakdown cover for MHs but only for those less than 5m long and up to 3500kg. Luckily, mine fits into that category but I appreciate most won’t.

Also remember insured cost may have changed.  I have just  received  my renewal quote from Caravanguard £404 from £398 last year that is for four named drivers, me SWMBO and both daughters and includes legal cover  and recovery, however they have said onus on me to check insurance cover is adequate for current market value.

Have been checking online, my 2014 WXL with 29k miles was valued at £38k last year, looks like need to up this to £44k to £45k based on similar models, year and milage. Will give them a phone and see what difference this makes to quote

Wish mine was £600.

Cheapest I could get was £900. even with a tracker.no breakdown (only I broke down) lol

Pete

Angus, I'm guessing your premium on renewal would have come down if you had increased "new normal" vans market value....mine did? Caravan guard £45000.

Revised quote with increased valuation and annual mileage up to 11000 is now £450. Happy enough with that

Have I got this right? If you increase the stated current value of the van, the premium is reduced? Ditto for increased mileage?  

I assumed that both factors would increase the underwriters' risk, which would be reflected in a higher premium.

I'll never, near understand the way insurance works!!

Cymro

For me net result of increasing  milage from 7k to 11k, and value of van from £38k to £44k was increase in quote from £404 to £450.

Yes mine went down after increasing market value ????
Kept everything else the same, milage etc.
Phone operator said it sometimes does, I said put in £190,000 and see if it goes down even more. She said that might be a little over the top and we left it at that. I was happy with the cover and same premium as last year.
Strange set up but haho .

Thanks for all the kind comments.

I will never understand how insurance works!

I have decided to renew with Saga on their 3 year deal. When I rang and made a few changes the cost came down by £200!. I replaced my wife with my son, both have clean records, as my wife has never driven any of our vans and has made it clear she has no intention. Then I increased the value by £5k to £46k and dropped the mileage from 4k to 3k as you can now make changes to policy without a charge. Total excess £300. + key replacement

After spending most of Friday online and on phone, most came in higher, LV windscreen replacement £190 excess, one Adrian Flux only offered me one quote with a Co. I have never heard of, then said I needed a tracker fitted due to value of van. No deal as the tracker was £299 then £96 pa from 2nd year.

At least I now know what my cost is £488 for the next 3 years if nothing changes, by then I might be too old, 78, for camping.

What I have learnt if nothing else, don't do auto renew, always ask for new quote as they seem to hope you will just accept their offer.
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Richard