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Car Insurance Auto Renewal Beware
Posted by Ken Wood on January 23, 2023, 12:38:09
Car Insurance for those over their 60s & 70s is total greed for all those agents, my last few days have been helping an old mate of mine (74 years), he a driver for over 50 years without any claims as it is now called “incidents” yet his car insurance renewal price had increased by nearly 100%, more serious he had not cancelled “Auto Renewal” in which allows the insurance company to automatically take payment from your bank! , luckily he alerted me and I set to researching a new price for his car insurance, this included requesting quotes from every provider and group provider on the internet, they are all big names “ which I don’t need to name them all to think you will get the idea one is that opera singer with a moustache. This was not my first step in helping people with this type of research , my experience is with also running for considerable years my own International Transport Company and other larger companies all requiring vehicle insurance, so this was not a new corridor to venture down, the trick is ticking and unticking boxes in your quote saving and then seeing the difference of all the boxes or some of the boxes prices, you may be very surprised and the cost or indeed lack of increase in the total cost, let me list a few, if involved in a “incident” you have a choice of paying the first “ £0 to say £750 together with another compulsory £125 yet after research to set it to £0 was with a few only £7 difference, Legal cover another £12 added (but if you ask you get it free with some agents), moving on Windscreen cover is the same if you ask al pat of “Fully Comprehensive” the tricky one is courtesy car, looks simple oh yes your will get a courtesy car, if your vehicle is disabled, but the small print is “ if available” when asked the agents al said if available, meaning you may not get one if out in the sticks without any car, “But for another £12 you will get a guaranteed vehicle regardless “ the list goes on, Breakdown cover sounds great, but only one visit and if cannot fix it take to nearest garage, or pay full breakdown cover approx. £29, the list goes on NCB, “No Claims Bonus” protection another added cost, together with you have to prove your last few year's No Claims, which should be provided from your last insurers and it will probably say on your renewal reminder letter or email. Here is what some people receive in the email or post for renewal reminders, “Last year’s cost Fully Comprehensive Insurance, £247.89, this year’s price £353.68, this person had over 10 years, no claims bonus accrued and under 3000 miles that year but the increase was over £106, yet when putting in online the very same person’s details same company, it was a very different price indeed with all the boxes unticked it was down to £141.59 with all the boxes ticked, including full breakdown, fully guaranteed courtesy car, NCB covered, personal injury, non-insured driver collision to your vehicle covered, theft from your car up to £250 or extra cover up to £2000 (cost extra £7), the list goes on, from small print about WINDSCREENS, COURTESY CAR, even to where it is parked overnight, another is residential parking is a very grey area, as it must have gates or barrier, so be aware, lots of boxes when you actual drive the car, “peak times” or you use your car to deliver food “pizza” or yellow pages anything that can be classed as a business, your car can be seized and very costly to your licence and pocket, to do all of this takes time and a lot of patience inserting al your details to every insurance quote online company can become very tiresome so have a book and pen or even screen shot to save time, you will get lots of emails from al these quotes they go on for ever sending you even more prices, so setup a different email address that only gets those quotes, by the way the most expensive quotes was from “AGE CONCERN” & SAGA, some quoting over £1100 because of failure to provide “NO CLAIMS BONUS” Insurance companies when you call will put you through to agents that are working from home and get paid, they are paid on performance , don’t be afraid to ask the what if I tick this box or that box or ask about courtesy car cover, breakdown cover what they entail, ask about, non-insured drivers hitting your car, your car or theft or slight damage from your car by strangers, just ask everything they want to sell your and you may get a surprise, don’t forget cancel “AUTO RENEWAL” it must be done over the phone, and ask for confirmation, or ask me.
Ken, there's far too many uninsured driving around, so the rest of us have to pay through higher premiums. I agree that you have to read the small print but can't really do anything about it. Also they want older drivers off the road.