The great big insurance rip off

Archev said:
So can I have this AI guy or gal as the fronting driver with 75 yo me as second driver?
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No, but you could add a younger family member as a 2nd driver if it lowered your premium and then they could drive you sometimes!
 
siteguru said:
Agreed. Changing the lead driver to someone who isn't actually going to be the lead driver is known as Fronting. It usually happens more at the other end of the scale (parent fronting for teenage son as premiums are scary high), but the same applies here.
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Yes, although lead driver doesn't always apply. We share the driving equally but there's no way to have a joint policy.
 
It’s as well to remember that a second driver on your policy might be required to ‘rescue’ the main driver and vehicle, if they were unable to drive for some reason.

Friends had a large (over 5 ton) tag axle motorhome, as did we. The wife was on the insurance as a second driver, as it considerably lowered their premium, whereas ours just named myself, as my husband was over 70, and needed a medical to keep the category on his licence.

I asked her if she would drive it back to the UK if her husband, for example, broke his arm while we were holidaying abroad. She had never driven it, and said ‘absolutely not’. It was my understanding that she would have been expected to do so, which was confirmed when their insurance company was asked.
 
Just a question.

When an insurance company writes off a perfectly good EV due to a scratch on the battery pack, do they then sell on the car for parts / battery for a profit?
 
EVsince2016 said:
Just a question.

When an insurance company writes off a perfectly good EV due to a scratch on the battery pack, do they then sell on the car for parts / battery for a profit?
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I think they go to auction, but don't quote me on that.
 
My 86 year old neighbour, with many years no claims, has managed to get insurance for £1300 for his Audi. The AA quoted him £3000 and Swinton £5000. When he expressed amazement he was told he would , 'Have to move with the times'.
 
Insurance companies are now legalised robbing bastards. They are charging what they like. And there's rag all we can do about it, as they know we have to have it.
Or break the law, which unfortunately some may well do, because they simply can't afford it. ??
 
Gadget Geek said:
The fine for no insurance is cheaper than the insurance itself! How mad is that?
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Mad innit, don't get me wrong I'll shop around and get the absolute cheapest I can, and fortunately I can afford it. But that's not the point. They are still taking the piss, with the prices. But what about those that a car is an absolute must, but who just can't afford the extortionate premiums. Will they be tempted not to bother. ??
 
tsedge said:
Prices do seem to be out of control for some. The government should step in, because any motoring cost that is out of control is a direct barrier to people's independence.
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Yes it’s a sorry state of affairs and I don’t believe anyone can do anything about it including governments. I did read somewhere a few weeks ago that there might be a possibility of an idea like is offered to some young drivers I:e the black box scheme where they would be able to monitor at what times you use your car example might be a lower premium if you only drive outside of rush hours for example or don’t use certain road types like motorways but I don’t know if that is exactly the case may also be different in different areas.
Les
 
Les burrows said:
Yes it’s a sorry state of affairs and I don’t believe anyone can do anything about it including governments. I did read somewhere a few weeks ago that there might be a possibility of an idea like is offered to some young drivers I:e the black box scheme where they would be able to monitor at what times you use your car example might be a lower premium if you only drive outside of rush hours for example or don’t use certain road types like motorways but I don’t know if that is exactly the case may also be different in different areas.
Les
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Disagree.

Insurance companies who have restrictive deals with repairers maybe are profiting from the current slow process, aggravated by no skills regarding EV batteries (note from Cleeverly on being made to replace a perfect battery for an insurer because it had a scratch) and poor closed practices. Maybe even profiteering from used parts / batteries.

The true cost of insurance doesn't just double without some sort of malpractice.
 
EVsince2016 said:
Disagree.

Insurance companies who have restrictive deals with repairers maybe are profiting from the current slow process, aggravated by no skills regarding EV batteries (note from Cleeverly on being made to replace a perfect battery for an insurer because it had a scratch) and poor closed practices. Maybe even profiteering from used parts / batteries.

The true cost of insurance doesn't just double without some sort of malpractice.
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Ok you have the right to disagree, but to what I’m not sure
1 It is a sorry state we are in with insurance cost
2 And I have no idea what are who can do anything about it have you.

3 the rest of what I wrote is just an observation of something I had read.

Your comments about the lack of training of EV repairs to some extent is probably correct
As for malpractices is there any proof, the cleverly issue as far as we know is a one off.
Something as gone sadly very wrong in this industry and remember it is not just EVs that are affected everyone is complaining about how much there insurance as increased and not just for road vehicles.
Les.
 
Les burrows said:
Hi billdunstew it was with disappointment and then anger after reading about the insurance cost for the MG5 which today will be worth around £12-15000 you might well be 86 but I shall assume with many years of driving experience behind you. it is very annoying what todays insurance companies are doing and the excuses they give to do it.
Insurance cost as increased across the board in general as we all know but your quotes are ridiculous to be quite honest in my opinion and I sympathise with you greatly.
Les
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Hi Les, Thank you for your comments, unfortunately you raise yet another issue re the economics of EV ownership. I accept that the resale value of my car is around £14k, this means that in 23 months the value has dropped by almost £20K or about £870 a month. A very expensive luxury to have parked on the drive! I really like the car, but the figures are not in its favour even if there is (at the moment) no VED. I have still not found an insurance quote of less than £2040.
Bill.
 
billdunstew said:
Hi Les, Thank you for your comments, unfortunately you raise yet another issue re the economics of EV ownership. I accept that the resale value of my car is around £14k, this means that in 23 months the value has dropped by almost £20K or about £870 a month. A very expensive luxury to have parked on the drive! I really like the car, but the figures are not in its favour even if there is (at the moment) no VED. I have still not found an insurance quote of less than £2040.
Bill.
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Hi Bill I’m in the same boat as you in regards to the loss on my car the MG5 trophy just coming up to 18 Months old with around 9000 miles and only worth around 13/14 grand according to autotrader and we buy any car so around £18000 out of pocket but there nothing we can do about it only hope that something changes but I don’t see it to be honest this is my 2nd one i had a SR mk1 before that and was quite happy but when I was offered almost £3000 more than I paid for it having run it for 20 months and 18k on the clock it was an offer I couldn’t refuse so a couple of months later I purchased the FL trophy and the value on that has dropped like a stone but it’s not the car it’s the market.

Anyhow insurance when I got this car I couldn’t get it insured at first tried everywhere but no one had it listed being a new model anyhow I eventually got Churchill to give me quote and I think it was just about £500 the first year but when I renewed in January the quote was near £580 so I rang them up and after a chat I got it down to about 520 but to do that I agreed to increase my excess form 100 to 300 im 77 living in the north west and I have my wife as a named driver now above someone as mentioned putting some one as a named driver that could help also make sure your not having more miles than you need it can make a difference the other thing that might reduce your price is if you try asking about 3rd party fire and theft not the best but an option.
I wish you all the best with it and good luck bill
Les
 
Les burrows said:
Hi Bill I’m in the same boat as you in regards to the loss on my car the MG5 trophy just coming up to 18 Months old with around 9000 miles and only worth around 13/14 grand according to autotrader and we buy any car so around £18000 out of pocket but there nothing we can do about it only hope that something changes but I don’t see it to be honest this is my 2nd one i had a SR mk1 before that and was quite happy but when I was offered almost £3000 more than I paid for it having run it for 20 months and 18k on the clock it was an offer I couldn’t refuse so a couple of months later I purchased the FL trophy and the value on that has dropped like a stone but it’s not the car it’s the market.

Anyhow insurance when I got this car I couldn’t get it insured at first tried everywhere but no one had it listed being a new model anyhow I eventually got Churchill to give me quote and I think it was just about £500 the first year but when I renewed in January the quote was near £580 so I rang them up and after a chat I got it down to about 520 but to do that I agreed to increase my excess form 100 to 300 im 77 living in the north west and I have my wife as a named driver now above someone as mentioned putting some one as a named driver that could help also make sure your not having more miles than you need it can make a difference the other thing that might reduce your price is if you try asking about 3rd party fire and theft not the best but an option.
I wish you all the best with it and good luck bill
Les
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Hi Les, Thanks for the further thoughts re insurance, I have tried reducing annual miles from 10000 to 8000 and also have my wife as a named driver. She is the same age group as me so that doesn't help. I have also increased the excess from £250 to £500. Churchill was one of the 8 companies that refused to quote, the only quotes I got from individual companies were MSE £2382 and Uswitch £2664. A sorry saga, just have to live with it or move house! We are about a mile from the nearest bus route along a narrow road with no pavements so being without a car would be difficult. The only positive thing is that I did get free electricity during a recent stay at a Warner Hotel!
Bill.
 

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