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insurance renewal

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faeton
Posts: 63
Joined: Mon Feb 29, 2016 9:31 pm

insurance renewal

Post by faeton » Sat Feb 02, 2019 9:22 pm

Just had my insurance renewal documents arrive , No change of circumstances for me apart from being 12months older. . Premium increase £30. EXCESS Increase £300 ??. This is an agreed valuation policy. They also require 6 photographs plus a current MOT certificate , Although I choose to MOT my car even though it is now not a requirement , Needless to say I will be shopping around

Dave SP250 .

silverdart
Posts: 141
Joined: Sat Feb 13, 2016 10:49 am
Location: West Midlands

Re: insurance renewal

Post by silverdart » Sun Feb 03, 2019 4:51 pm

HI Dave,
I have spoken to a lot of owners of classics and no one I have met gives Hagerty a bad name.
Apparently, if you are unfortunate enough to have to make a claim, they settle very quickly with minimum fuss.
They only require photos every 3 yrs. for agreed value.
I increased the value on both my cars by £3000 each at renewal and was told, no new photos reqd. for such a small increase.
When you phone them there are no queues, you speak to an agent immediately.
They are not the cheapest but, I would certainly give them a try.
B.t.w. I am not on commission!

Regards Dave.

Phillmore
Posts: 805
Joined: Sat Feb 13, 2016 1:25 pm
Location: Worcestershire Herefordshire border

Re: insurance renewal

Post by Phillmore » Mon Feb 04, 2019 9:08 am

Most companies put up the price for the second year indicating that the internet prices are loss leader prices to appear competitive. Either change company each year or let your policy lapse and reinsure with your old company next day at the introductory internet price again (which is what I do).
Andy

1954 Conquest Mk1, 1956 Conquest Mk2, 1957 Conquest Century Mk2, 1955 Austin A90 Westminster

faeton
Posts: 63
Joined: Mon Feb 29, 2016 9:31 pm

Re: insurance renewal

Post by faeton » Mon Feb 04, 2019 8:36 pm

My renewal for everyday car arrived today , Paragraph regarding No Claim Bonus PNCD ," For vehicle --------- this increases your premium by £38 50p .you have current PNCD OF 9 YRS" . { Max .} there is a list of tables showing amounts etc .Under these tables there is an asterisk with the following note

* PNCD DOES NOT PROTECT THE OVERALL PRICE OF YOUR INSURANCE POLICY .THE PRICE OF YOUR INSURANCE POLICY MAY INCREASE FOLLOWING AN ACCIDENT OR CLAIM EVEN IF YOU WERE NOT AT FAULT.

Am I alone in thinking that paying PNCD Covered any increse in premium if not what does it cover ,. No doubt the insurance companies have an answer or do I see another misselling scandel as with PPIs.

Dave

Big Col
Posts: 316
Joined: Tue Feb 16, 2016 12:45 pm
Location: Leeds

Re: insurance renewal

Post by Big Col » Mon Feb 04, 2019 9:08 pm

I am, and have been for a few years now, very disillusioned with insurance in general but car insurance more so.
In my opinion it is nothing more than legalised theft. I wouldn’t trust any of the shower, no more than I would a politician. Sadly I can’t do a lot about either of them.
Colin,
I may be slow but I’m rough as well !

Chris_R
Posts: 383
Joined: Wed Feb 10, 2016 12:48 pm
Location: Twickenham

Re: insurance renewal

Post by Chris_R » Tue Feb 05, 2019 1:55 pm

Protected No Claims Discount protects the discount on the premium, it has nothing to do with the base premium. If your premium is £300 and with 65% protected discount you pay £195 and you make a claim. At the subsequent renewal your premium may increase to £400 because you made a claim and therefore are (considered) a higher risk of making another claim. However, you will still get your 65% discount, albeit now calculated on a higher starting figure.
If the incident that lead to the claim is totally not your fault it is quite within your rights to claim for the uninsured losses from the other party and those uninsured losses can include any subsequent increase in premium.

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