Insurance Options

[Alb]

My new MG5 will be an addition to, rather than replacement for my existing car.
It's many years since I've owned and insured more than a single vehicle so I was wondering about your collective experience of the different insurance options.
For those of you that are currently insuring more than one vehicle, do you find multi-car policies through a single insurer better or worse than insuring each car individually?
All I've done so far is a quick scan with Confused and that gave me a best price of £196 for the MG5 insured on its own (zero NCD applied of course because it's a 2nd vehicle).
My other car is a Ford Focus RS and I only paid £157 for that this year.

 

[Iain]

Hi Joe. As you are already aware best advice is shop around. Not all insurers restrict NCB to one car. Unfortunately I can’t remember which insurer but I previously had two cars on separate policies and got NCD on both. According to the agent the driver had earned the discount not the car! Good luck finding a lower quote.

 

[Jomarkh]

My new MG5 will be an addition to, rather than replacement for my existing car.
It's many years since I've owned and insured more than a single vehicle so I was wondering about your collective experience of the different insurance options.
For those of you that are currently insuring more than one vehicle, do you find multi-car policies through a single insurer better or worse than insuring each car individually?
All I've done so far is a quick scan with Confused and that gave me a best price of £196 for the MG5 insured on its own (zero NCD applied of course because it's a 2nd vehicle).
My other car is a Ford Focus RS and I only paid £157 for that this year.

Wish i could get insurance for under £200 and only £157 for an RS, you must be on a low milage a year..

 

[macd2401]

Wish i could get insurance for under £200 and only £157 for an RS, you must be on a low milage a year..

Or they're really old

 

[Alb]

The mileage isn't a significant factor but age, location and driving record is!
Being on the wrong side of 60 definitely helps

 

[RichardC]

I managed to get my insurance sorted out yesterday after a lot of hassle.

I am currently with Aviva but when I rang them to change the car they said that they did not cover the vehicle. I was not very happy with them but I did not make a fuss as I recently worked for them ( not in the motor insurance division) and I did not want to give the call handler any grief. Bang went my 40% staff discount though.

The car was not showing up on the DVLA database so I tried to get an online quote with an existing ZSEV registration, however the Aviva website said that I should call them.

I had already tried LV direct and got a quote of £205 so I called them to go ahead. For some reason the price went up to £229 without a courtesy car so I said forget it.

I went through one of the comparison websites and got a quote for £210, with LV, and it accepted the registration number so I went ahead.

Annoyingly I checked the DVLA website and the car is now registered. When I entered the reg number into a quote it came up with a quote of £202! Never mind.

 

[Alb]

Anything around a couple of hundred is a good price for me but LV do seem to have some worthwhile benefits so would be a good choice.

 

[RichardC]

Anything around a couple of hundred is a good price for me but LV do seem to have some worthwhile benefits so would be a good choice.

This is what they provide for electric cars.

l If you run out of charge in the UK we'll recover you to
the nearest charging point. No excess to pay and no
impact on your no claim discount.
l Battery cover for accidental damage, fire and theft
even if you’re leasing it separately from the car
l Cover for accidental damage, fire and theft to your
charging accessories, eg your home charging point(s)
and cables.
l If you choose optional guaranteed hire car benefit, we'll
supply an electric or hybrid hire car, subject to availability.

Do other insurance companies do the same?

 

[Alb]

I think most of the companies I've looked at so far treat EVs the same as any other car.

 

[macd2401]

I was with the CoOp for donkeys years, mostly because they were decent quotes for my pick up, and they covered me to drive other vehicles (which is surprisingly less common than I thought, and was not something I had ever checked previously... turns out I would have been in deep with some of my previous insurers). After refusing to quote my for my old Audi S8 ("Sorry, that's a performance car, and we just won't insure you for it"), and then also refusing to quote for the MG (no explanation) I ended up going through the Meerkats, and went with LV. Decent cover, decent price, and decent service so far (after the hit and run incident). Time will tell how it goes at renewal.

 

[Alb]

Renewal always seems to be a minefield.
On more than one occasion, I have had a renewal premium quoted only to shop around and find that the same company will offer the same cover directly or through a comparison website at significantly lower cost.

 

[mystreet]

Renewal always seems to be a minefield.
On more than one occasion, I have had a renewal premium quoted only to shop around and find that the same company will offer the same cover directly or through a comparison website at significantly lower cost.

Sure that I have read/heard that this is going yo stop. Existing customers must be offered the same quote as new customers. My ICE was up for renewal and the company would not insure me as I was 'living on own means' so as I said I now have a job it when down £75 on last years price. Go figure ?

 

[RichardC]

Sure that I have read/heard that this is going yo stop. Existing customers must be offered the same quote as new customers. My ICE was up for renewal and the company would not insure me as I was 'living on own means' so as I said I now have a job it when down £75 on last years price. Go figure ?

You are correct. Insurance companies will no longer be allowed to offer more favourable terms to new customers.

Car and home insurers to be banned from charging renewing customers more than newbies in loyalty penalty crackdown

Car and home insurers are to be banned from charging existing customers more at renewal than they would expect to pay if they were taking out a new policy with the same firm, as part of a ‘loyalty penalty’ crackdown.

www.moneysavingexpert.com

The new rules take effect from January 2022

 

[Cocijo]

You are correct. Insurance companies will no longer be allowed to offer more favourable terms to new customers.

Car and home insurers to be banned from charging renewing customers more than newbies in loyalty penalty crackdown

Car and home insurers are to be banned from charging existing customers more at renewal than they would expect to pay if they were taking out a new policy with the same firm, as part of a ‘loyalty penalty’ crackdown.

www.moneysavingexpert.com

The new rules take effect from January 2022

It’s a pity this can’t be backdated and customers compensated. It’s been a scandalous practice for years. Mobile phone tariff providers do the same thing at renewal. So do broadband providers, heating insurance, house insurance - the list goes on…

 

[Alb]

I've started getting some quotes in now I have the Reg number for my new MG5.
There's a gaggle that come in around £200-250 but they are all from Hastings or one of their many derivatives and that's not a brand I trust.
Reputable companies are starting to come in at around £285 with LV= coming in at £335.
I like the idea of going with LV= because of their additional EV benefits but do you guys think those benefits are worth an extra £50?

 

[mystreet]

I've started getting some quotes in now I have the Reg number for my new MG5.
There's a gaggle that come in around £200-250 but they are all from Hastings or one of their many derivatives and that's not a brand I trust.
Reputable companies are starting to come in at around £285 with LV= coming in at £335.
I like the idea of going with LV= because of their additional EV benefits but do you guys think those benefits are worth an extra £50?

Without knowing what the benefits are I cannot say. However, benifits are only any good if you intend to use it/them.

 

[RichardC]

Without knowing what the benefits are I cannot say. However, benifits are only any good if you intend to use it/them.

I hope that I never have to use the EV benefits.

I went with LV in the end. Not the cheapest but I did not want to use Hastings.

 

[Alb]

Without knowing what the benefits are I cannot say.

The benefits are quoted in post #8

 

[RichardC]

I was with the CoOp for donkeys years, mostly because they were decent quotes for my pick up, and they covered me to drive other vehicles (which is surprisingly less common than I thought, and was not something I had ever checked previously... turns out I would have been in deep with some of my previous insurers). After refusing to quote my for my old Audi S8 ("Sorry, that's a performance car, and we just won't insure you for it"), and then also refusing to quote for the MG (no explanation) I ended up going through the Meerkats, and went with LV. Decent cover, decent price, and decent service so far (after the hit and run incident). Time will tell how it goes at renewal.

Aviva would not quote for me with the MG either.

 

[Alb]

LV= came up at exactly the same price for me with Go Compare and Confused but it didn't appear at all on Compare the Market.