60% premium increase to change where my post is sent!

[GrahamS]

Some of you may have seen me post this on CSOC.

I keep my track car ages away from me at a friends house in the countryside. I've recently moved to London and called up the insurance company to let them know the storage location of the car has changed, no problem, no policy price change.

I called up today innocently trying to get a quote for a new car and was asked my post code which I gave as my London one. I didn't think I would have to change this as my parents still live where they used to and any correspondence can be sent there. When I changed my correspondence address today from my parents to my new address I was welcomed with a massive increase in price equivalent to pretty much a 60% increase in premium despite the location of the car not changing.

I don't doubt this was the underwriters doing and not the broker but at the same time I am not able to understand this in any way shape or form. I used to work for an insurance company and everything is as you would expect, worked out on risk. The risk here has not changed at all...so what's the deal.

So I'm clear from the start I won't name the broker or insurance company.

Has anyone had this before and what have you done?

 

[Clio.lee]

Just give the, the address as the car location and get emails,instead of paper based

 

[Neil@greenlight]

Unfortunately underwriters will always rate on the higher of two address which is a shame if you store the cars elsewhere 😧.

If you live in london and register your driving licence and stuff to your home address but keep car in surrey the underwriters will ask for rating on the higher of the two postcodes. That way you are covered if you take the car home to London (no underwriter is going to cover a vehicle and say you cant keep it at your home address)

In some circumstances if you were to confirm that the vehicle would never be taken to the London address and will only be driven from the storage to tracks etc they may be able to underwrite around it.

In most cases underwriters will just say rate on the highest of the two postcodes to avoid even the slightest chance of the car being kept at a higher postcode. Im guessing the insurers air on the side of caution to avoid someone saying they live in Devon to get cheaper price when they actually live in Birmingham (i know from your above description that isnt the case but just wanted to give an example of what the insurer have to protect themselves from).



Kind Regards
Neil

 

[ForceIndia]

I imagine the premium is calculated using the storage location, and your location. If your location is higher risk, premium goes up?

 

[McGherkin]

Went to change the address on the Volvo when I moved out. Went from parked on the street to stored in a secure underground carpark with a lot less miles.

Wanted an extra £150 a month, or they were going to cancel the policy.

L.O.L.

 

[klm182]

Went to change the address on the Volvo when I moved out. Went from parked on the street to stored in a secure underground carpark with a lot less miles.

Wanted an extra £150 a month, or they were going to cancel the policy.

L.O.L.

its all about your postcode..£150 a month!! god how much is your insurance?

 

[Knuckles]

My premium went up £200 when I moved from the north east to the north west.

It's ridiculous tbh.

What's also funny is that I did a thread a while back showing what a minor difference in your job title can make to your premium.

I got a fluctuation of £500 dependant on whether I said I was an engineer, apprentice, planning engineer, machinist or machine operator.*

Same person, doing a slightly different job in the same company suddenly becomes a higher risk out of the blue. It's stupid as f**k.





*top tip. If anyone works in a machine shop, do not tell them you're a machine operator. It's the highest premium.

 

[RichieJA]

I moved 25 feet ( I'm serious 25 feet) to a bigger house next door car parked in same place £130 extra lol
It also changed when I was promoted at work because my job title changed can't remember how much, was a small change.

 

[M.C..]

Insurance is weird, the car could be insured in a really good postcode but you could then go and park the car up everyday in the worst postcode possible.

 

[bloke]

insurance is a farce, simple as. got a quote for my lad on his new car, get a quote a couple of days later and it's gone up by a grand!!!!! seriously, went up by a grand!!! phoned them up and asked them to explain why, was an amusing phone call:wink:

 

[RichieJA]

We need it by law the government forces us to pay over inflated prices because they get a nice chunk of insurance tax, we lose government and businesses gain. Same with everything

 

[bloke]

We need it by law the government forces us to pay over inflated prices because they get a nice chunk of insurance tax, we lose government and businesses gain. Same with everything

you can underwrite yourself so to speak, not sure of the exact ins and outs of it.

 

[RichieJA]

I'm away to Google it lol

 

[McGherkin]

you can underwrite yourself so to speak, not sure of the exact ins and outs of it.

20 Exception from requirement of third-party insurance (1) Section 144 of the [1988 c. 52.] Road Traffic Act 1988 shall be amended as follows.

(2) In subsection (1) (which removes the requirement for third-party insurance or security where £15,000 is kept deposited with the Accountant General of the Supreme Court) for £15,000 there shall be substituted £500,000.

(3) After subsection (1) there shall be inserted;

(1A) The Secretary of State may by order made by statutory instrument substitute a greater sum for the sum for the time being specified in subsection (1) above.

(1B) No order shall be made under subsection (1A) above unless a draft of it has been laid before and approved by resolution of each House of Parliament.

Basically if you lodge £500,000 with the High Court, you don't need any insurance.

its all about your postcode..£150 a month!! god how much is your insurance?

You don't think I said yes do you?!?!

 

[klm182]

My premium went up £200 when I moved from the north east to the north west.

It's ridiculous tbh.

What's also funny is that I did a thread a while back showing what a minor difference in your job title can make to your premium.

I got a fluctuation of £500 dependant on whether I said I was an engineer, apprentice, planning engineer, machinist or machine operator.*

Same person, doing a slightly different job in the same company suddenly becomes a higher risk out of the blue. It's stupid as f**k.





*top tip. If anyone works in a machine shop, do not tell them you're a machine operator. It's the highest premium.

I asked an insurance broker,why my address is £200 higher,than my mates address 2 miles away,he lives in a rough place, the woman on the phone said... someone in your street had their wing mirror broken,so all the insurance has gone up..i thought it was a april fool ha ha

 

[klm182]

We need it by law the government forces us to pay over inflated prices because they get a nice chunk of insurance tax, we lose government and businesses gain. Same with everything

We need it by law the government forces us to pay over inflated prices because they get a nice chunk of insurance tax, we lose government and businesses gain. Same with everything

what do other countries pay for insurance? no other country would put up with the high prices..Germany has no speed limits,so I bet its high..i lived there once,was thumbing lifts, never been fast in a car before,doing 140mph plus sometimes on the autobahn..,they flashed the car in front,it moves over..so you can floor it..

 

[RichieJA]

It's a joke, every time say a nurse crashes it increases for every other nurse same with streets and types of cars we get raped for insurance its retarded, what can we do stop buying it ? Nope we get banned etc or we have to do without cars,
Our government is no better than a dictatorship, f**king diks lol

 

[flebay]

 

[klm182]

It's a joke, every time say a nurse crashes it increases for every other nurse same with streets and types of cars we get raped for insurance its retarded, what can we do stop buying it ? Nope we get banned etc or we have to do without cars,
Our government is no better than a dictatorship, f**king diks lol

we did go through a phase of cash for crash, that drove claims up..with dash cams ,they are coming down now..i had a crash on my sports bike years ago,a women didn't indicate ,and turned in on me,i hit her,went flying over her car,at speed.(within the speed limit)i was lying in the road ,she was screaming,everyone went to her,if you've screaming you are ok.the dead tend not to scream...anyway she claimed 1000s for whiplash,she was in a metal box,hit from the side..claimed 3 months off work.on full pay.her car had a little dint in it,her total claim was over £15000..i got nothing, my bike was written off, only had tpft..I lost the case.cause I over took her ,as she was turning right, she lied about indicating. if she had, I could of undertook her..and some school kids said my bike was loud..
oh and when the ambulance came..they only had one wheelchair, guess who got in it?,guess who was seen by the doctors 1st? I seen them for 2 minutes ,was told to go home,i really had whip lash,it really hurts..
her husband was in the passenger seat, was the head of the local fire station..guess he told his wife what to do..and lie through her teeth..

 

[McGherkin]

we did go through a phase of cash for crash, that drove claims up..with dash cams ,they are coming down now..i had a crash on my sports bike years ago,i women didn't indicate ,and turned in on me,i hit her,went flying over her car,at speed.(within the speed limit)i was lying in the road ,she was screaming,everyone went to her,if you've screaming you are ok.the dead tend not to scream...anyway she claimed 1000s for whiplash,she was in a metal box,hit from the side..claimed 3 months off work.on full pay.her car had a little dint in it,her total claim was over £15000..i got nothing, my bike was written off, only had tpft..I lost the case.cause I over took her ,as she was turning right, she lied about indicating. if she had, I could of undertook her..and some school kids said my bike was loud..
oh and when the ambulance came..they only had one wheelchair, guess who got in it?,guess who was seen by the doctors 1st? I seen them for 2 minutes ,was told to go home,i really had whip lash,it really hurts..
her husband in the passenger seat, was the head of the local fire station..guess he told his wife what to do..

Hang on, did she turn right into a junction? Or just into a driveway or something?

 

[klm182]

Hang on, did she turn right into a junction? Or just into a driveway or something?

she turned into a side road.. when I was over taking her..if it was a drive way she would of been in the wrong,.. guess she didn't know the, think bike when turning right rule..
maybe I shouldn't of over took her,i was happy to be alive..not really hurt,no way she should of been able to claim for whiplash..and months of work with it..the money has to come from somewhere..should of cost about £500 if that,to buy a new wing..nand spray it.. milkin every penny from the claim..

 

[alistairolsen]

Insurance is, in general an absolute farce. Now and again you find a decent broker, but the industry as a whole is b****cks.

You earn 5 years NCB on my car, but I cant apply this discount (which is based on my driving record) to another vehicle. If I sell the car and buy a bike, it doesnt apply to that either, bikes are different and the insurance company has no insurance history for me on a bike, so start from scratch, but then you have an accident on the bike and boom, suddenly that applies to your car NCD too.

Adding named drivers has some fairly mental effects and not at all what you might expect at times.

I moved house from the suburbs to a rural setting, another A rated postcode, insurance went up by 40 quid a month for the last two months of the policy.

Then there's the fact that it's just totally inflexible, with some underwriters only covering certain cars, or circumstances which makes changing vehicles or moving house painful.

And that's before you even get into the claims process, which is just mental. A mate of mine had a brand new 407 as a hire car for 11 weeks while the insurance company argued about whether to give him 900 or 1200 in settlement for his mondeo which was written off by another driver for instance.

Something drastic needs to change, but not sure how it ever will.

 

[klm182]

It's a joke, every time say a nurse crashes it increases for every other nurse same with streets and types of cars we get raped for insurance its retarded, what can we do stop buying it ? Nope we get banned etc or we have to do without cars,
Our government is no better than a dictatorship, f**king diks lol

my mate had a bmw on mobility scheme.one winter,he hit a kerb,scuffed the wheel and bumper.. mobility said take it to a repair place.. when he got the receipt. They put a new steering rack on,new damper/springs,new front bumper.. he questioned all this, they said it was all bent..the crash was only at 15 mph..the repair bill was 1000s.. the repair shop milked it..they knew the mobility insurance will not question it..

 

[klm182]

Insurance is, in general an absolute farce. Now and again you find a decent broker, but the industry as a whole is b****cks.

You earn 5 years NCB on my car, but I cant apply this discount (which is based on my driving record) to another vehicle. If I sell the car and buy a bike, it doesnt apply to that either, bikes are different and the insurance company has no insurance history for me on a bike, so start from scratch, but then you have an accident on the bike and boom, suddenly that applies to your car NCD too.

Adding named drivers has some fairly mental effects and not at all what you might expect at times.

I moved house from the suburbs to a rural setting, another A rated postcode, insurance went up by 40 quid a month for the last two months of the policy.

Then there's the fact that it's just totally inflexible, with some underwriters only covering certain cars, or circumstances which makes changing vehicles or moving house painful.

And that's before you even get into the claims process, which is just mental. A mate of mine had a brand new 407 as a hire car for 11 weeks while the insurance company argued about whether to give him 900 or 1200 in settlement for his mondeo which was written off by another driver for instance.

Something drastic needs to change, but not sure how it ever will.

its crazy, who pays for the 11 week car hire? joe public..i was thinking of getting a new sports bike,,,i never thought about the NCB...I thought it would automatically be transferred to a bike, as you cant us them at the same time...
I dread a flood coming, cause I know in 6 months time,my car insurance will go up ha
sorry to bore you all,this one is funny...
a local bus near us had a crash, at the bus station,the driver had a heart attack,hit a barrier, alot of people seen it happen,and ran to the bus, not to help the driver, but to get on the bus,so they can make a claim..it turned out before the crash,there was a handful of people on the bus,but after, it was full.. ha
the camera caught them all out..
if any of you see a bus crash,get in the car quick and start screaming..ha..