Insurance renewal cost

[Glaf]

Just had our insurance renewal through from Admiral for my wife and myself on our F Type, £599 pa.

Clean licences, full no claims, over 60's but still young at heart!!!

Before we renew how does this compare with others on this forum?

Any recommendations?

[Lunar]

I moved from Halifax (as they wanted around £200 more come renewal) to HBOS insurance and kept same premium as last year, at around £460 I think, for self + wife, late 50's.

Post code is all important in the premium calculation.

http://www.carinsuranceexplained.com/ca ... -list.html

[chicb]

I have the same criteria as you, age etc, but the difference is probably the postcode. I imagine Essex has a huge premium over Tayside in Scotland.
I am with Saga £290, thats with protected no claims, legal, voluntary excess £0, all usual stuff.
Go to Gocompare or equivalent, or insure it with your granny who lives in Scotland

[Lunar]

You clearly haven't seen the way my gran used to drive

[JurassicF]

Same as chicb. Saga with all the bells and whistles £275 for similar ages and history as Glaf. Dorset postcode though!
Over 9 years with them and each year the quoted renewal goes up by around £100 but after a phone call gets brought back down to the same amount

[RPSN]

I recently bought multi-car insurance with Liverpool Victoria.

Me and the missus on my F-Type, fully comp and excellent cover for £341. We both have clean licences and are in our early fifties.

Here’s some good info about protecting your no claims discount (NCD)........

"Protected No Claims Discount (NCD)......is it worth it?"

"If you've got a lot of years No Claims Discount (NCD) it’s not worth protecting. If you have only a few years it is. Reason is that for someone with say 8 or 9 years or more NCD, in the event of a single claim they don't lose the lot unlike someone in their first few years of getting NCD.......instead, it will get dropped down to something like 4 to 5 years. They're still going to be getting a decent discount with 4 or 5 years NCD and the difference between that and what it would be with 8 years NCD doesn't make it worth paying what can be a significant amount to protect it over several years."

"Unfortunately far too many people mistakenly believe that if they have protected NCD then it means in the event of a claim their insurance won't go up."

If you're after multi-car or single car insurance it's well worth getting an online quote with Liverpool Victoria

The link is for their multi-car insurance.

https://www.lv.com/car-insurance/multi-car-insurance

[scm]

"Unfortunately far too many people mistakenly believe that if they have protected NCD then it means in the event of a claim their insurance won't go up."

Yeah, you still get the discount after a claim, but your risk has gone up, along with the premium, which will no doubt wipe out any NCD savings.

[RPSN]

After a claim your risk goes up whether or not you have protected NCD.

Protected NCD does not protect the overall price of your insurance policy and the price of your policy may increase following an accident or claim even if you were not at fault.

If you have say 8 or 9 years and over NCD and you make a single claim, the NCD will drop to around 4 or 5 years so you will still get a decent discount and the difference between that and what it would be with 8 or 9 years NCD doesn't make it worth paying what can be a significant amount to protect it over several years

[Blakums]

My wife and I are early 50’s. I’m retired, wife in 2021. Full no claims, no accidents etc.
Admiral have been excellent.
Wife has a new F Pace. I had a new SVR in March. Premium was around £480 for fully comp for us both to drive both cars.
I changed to a Mclaren recently. Policy went up by just £20! Whilst we haven’t made any claims, I’ve juggled private plates around on all 3 and it was painless.
No other company, Saga included, came near and we live in Devon.
All the best to you

[Captain Midlife]

"Protected No Claims Discount (NCD)......is it worth it?"

"If you've got a lot of years No Claims Discount (NCD) it’s not worth protecting. If you have only a few years it is. Reason is that for someone with say 8 or 9 years or more NCD, in the event of a single claim they don't lose the lot unlike someone in their first few years of getting NCD.......instead, it will get dropped down to something like 4 to 5 years. They're still going to be getting a decent discount with 4 or 5 years NCD and the difference between that and what it would be with 8 years NCD doesn't make it worth paying what can be a significant amount to protect it over several years."

I'm not sure that is quite correct.
Firstly if you don't have what used to be called "full no claims" then you can't even protect it. For most companies that is 5 or 6 years. Even if they record 9-15 or more years the discount doesn't improve.
Secondly in the small print, no matter how many years NCD you have, once the claim limit has been exhausted you're down to, usually, 3 years.

That said NCD ain't what it used to be. I used to get 60 or 65% with full no claims. Now Aviva give 42%, Admiral just 37%. This reduces to 36% and 16% respectively when you make too many protected claims so maths may show the NCD protection you pay is more than you'd lose.

Beware though as the reduced % discount will be on a higher premium as you have just become a higher risk! Complicated? It's called confusion marketing