 | Home > Finance & Insurance > Bizarre insurance issue |
 
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| Mr Fox Member Since: 10 Sep 2011 Location: green & pleasant land Posts: 1037   
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My assumption is that they believe you will sometimes keep the Defender at your new home, with the new postcode, and are deeming that postcode to be a considerably higher risk than the previous storage location.
If you are NEVER going to park the Defender at your new home, perhaps there is a conversation to be had - for instance, if you only ever use the Defender on your parents farm - but my guess is they will assume you are and enforce the increase. |
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19th Jul 2023 5:28pm |
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| Jeebs Member Since: 23 Oct 2015 Location: North West Posts: 197 
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I’ve tried explaining it’s a second vehicle, isn’t used for anything other than SDP but it makes no difference. It was like talking to a brick wall, they had the attitude of pay the increase or cancel the policy.
I’ve raised a complaint with them, but I have a feeling it’ll end up with the ombudsman. How does it work for those with a holiday home with a car? If you live in London but have a cottage in the highlands, do you pay London prices? If I’m missing something, someone please enlighten me 😂 |
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19th Jul 2023 5:46pm |
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| Mr Fox Member Since: 10 Sep 2011 Location: green & pleasant land Posts: 1037
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What is the distance between your new home and your parents farm? Just thinking about your holiday home analogy.
Just a thought - why not cancel the policy and have your parents insure it, with you as a primary named driver? |
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19th Jul 2023 7:51pm |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3514 
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I would assume that the algorithms that sort insurance out has had a bit of a hissy fit.
Insurance companies / underwriters like nice standard easy things. As soon as you go off the normal - modifications, unusual jobs, insuring young / old drivers, the standard companies tend to wobble. I have a medical condition which I know (although I am informed it shouldn't) affects my premium as I never have been able to get a cheap quote even with a clean licence and no accidents. That's not to say you can't get reasonably priced insurance, it just means you might have to do a bit of leg work and the usual culprits / comparison sites may not be a lot of use to you. Living in one place and storing a vehicle out of your normal day to day sight could be seen as a risk to them? We know that your parents still live at the address but maybe an insurance company likens this to it being stored in a lock up garage somewhere? It is also worth noting that there was an article yesterday in the news that said that car insurance had increased dramatically in price in the last few weeks. Maybe it is just wrong place, wrong time? https://www.bbc.co.uk/news/uk-wales-66236110 Hope you get it sorted soon at a fair price |
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19th Jul 2023 8:57pm |
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| Birdy Member Since: 07 Oct 2011 Location: Côte d'Azur Posts: 868  
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Same company (Liverpool Victoria), same vehicle (2013 2.4 110 CSW), nuffink changed:
2020 premium £257.98; 2021 £254.45; 2022 £256.87 2023 renewal just received: £370.61 Oy vey! Peter |
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20th Jul 2023 8:40am |
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| Jeebs Member Since: 23 Oct 2015 Location: North West Posts: 197
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I know premiums jumped, my everyday car went from £540 to over £900.
I’ll see how the complain evolves, but insurance is a dark art and they don’t seem to be particularly open to criticism. |
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20th Jul 2023 9:34am |
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| Green Machine Member Since: 19 Nov 2010 Location: North Yorkshire Posts: 1226 
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We recently had something similar with a business van (VW Transporter) within the family. The person that usually uses the van has moved, so there is a change of address on the policy (the business itself hasn't moved, but as the van is usually kept at this person's address, and they are the main driver of that van, the change of address is clearly relevant to the policy).
The premium increased quite significantly due to this change. When it was queried with the broker, they advised that it is not to do with the direct risk, it is because the new postcode is classed as a more affluent area with generally more expensive cars. As a result, any claims from customers in that postcode tend to be for higher sums, so they put the premiums up accordingly. It is not that there are more claims in that area, but when there are claims, they are for more money! So you may be falling foul of the same thing. Your new address potentially identifies you as more affluent than you were at your previous address, so they now class you as being more costly to them in the event of a claim (even though nothing about the vehicle itself has changed!). The joys of insurance! Also, as mentioned above, it is likely that keeping the vehicle at a different address from where you are living is seen as a higher risk, simply due to the fact that you yourself are not present with the vehicle overnight / on a daily basis. I don't know, but I suspect that more thefts occur of vehicles that are not being kept at a home address, compared to those that are (simply because vehicles kept away from home are 'less observed'). 2005 Td5 | 90 Station Wagon | Tonga Green |
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20th Jul 2023 10:19am |
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| TexasRover Member Since: 24 Nov 2022 Location: Paris Posts: 1086 
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Insurance companies just come up with a believable story.
The premiun is simply based on what they can get away with. Typically first year is cheap because they want your business, then it slowly goes up. Any change is just an excuse to jack up the rates. With a bit of luck, shopping around keeps them half honest. I recall had one car insured, added a car doubled the premium. Removed same car 6 months later, 25% discount. Come renewal time, told them I am shopping and presto back to the original Premium. Crooks |
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20th Jul 2023 1:01pm |
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| Jeebs Member Since: 23 Oct 2015 Location: North West Posts: 197
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The price isn’t horrendous to be fair, but they’ve added 50% on top for what on paper isn’t a change.
To answer the question about distance, it’s 40miles roughly. It’s kept in a gated yard with people with people around all day down a long private lane way that leads to nowhere. Unless you know it’s there you’d never find it. There’s no passing footfall and the only traffic is tractors! On the postcode risk scale is an A, the best it can be. I’ve yet to get a callback from a manager/supervisor. |
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21st Jul 2023 5:40pm |
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