Am I missing something or is it pure greed?

[Mullet Man]

Repair costs have gone through the roof recently which is part of it, but there is definately price gouging going on as well all across the insurance sector. The industry needs better regulation, it is unfettered at the moment.

 

[Spriddler]

ludicrous repair cost plays a large par

Exactly. Also too quick to write off vehicles.
Last week in my 2014 Soda I ran into the back of a car at less than 10mph. N/S/F wing and bonnet damaged and headlamp smashed. My first claim in 61 years driving.
Insurer wrote it off Cat D (lowest write-off level). They offered me a full settlement of £5750. The damage was only cosmetic so I decided to keep it and they paid me out £3800.
It is now at a local long established coachbuilding company which has quoted me £2700 to repair it.

 

[oldiesontour]

Exactly. Also too quick to write off vehicles.
Last week in my 2014 Soda I ran into the back of a car at less than 10mph. N/S/F wing and bonnet damaged and headlamp smashed. My first claim in 61 years driving.
Insurer wrote it off Cat D (lowest write-off level). They offered me a full settlement of £5750. The damage was only cosmetic so I decided to keep it and they paid me out £3800.
It is now at a local long established coachbuilding company which has quoted me £2700 to repair it.

Myself,My wife,and both daughters run ex cat S cars,my PVC is a 2020 ex cat S all of which had been repaired before I bought them all very slight cosmetic damage I bought them at around 70% of pre damage value and the repairer had made his labour/parts cost plus his buy/sell profit

 

[LesW]

The industry needs better regulation, it is unfettered at the moment.

One of the biggest legalised scams going at the moment, in some cases having insurance is a legal option, and in many cases the insurers look to the small print in the hope they can get out of paying.

 

[dazandandrea]

Not vehicle insurance related but household appliances and heating cover insurance.
I phoned homeserve a few week ago to cancel it for FiL.
Was costing £28 a month, god knows how many years he had been paying it, never claimed and never would.
Once i said im canceling it within 10 seconds the premium had halved to £14.
Still cancelled and he wasnt a happy chap .

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[BouncyBoatFolk]

Exactly. Also too quick to write off vehicles.
Last week in my 2014 Soda I ran into the back of a car at less than 10mph. N/S/F wing and bonnet damaged and headlamp smashed. My first claim in 61 years driving.
Insurer wrote it off Cat D (lowest write-off level). They offered me a full settlement of £5750. The damage was only cosmetic so I decided to keep it and they paid me out £3800.
It is now at a local long established coachbuilding company which has quoted me £2700 to repair it.

What was in the Soda .
Mike

 

[Steve I]

Staveley Head motorhome renewal.
Nothing has changed with my circumstances (no accidents or claims or points etc).
Appreciate cost of living increases and things go up from last year, but this?
View attachment 989046

I’d say “renewal hotline” isn’t going to be busy with quotes like that! My CAMC Insurance renewal last month was almost identical to last year and very reasonable, I couldn’t beat it anywhere

 

[Captain Yoghurtpot]

Myself,My wife,and both daughters run ex cat S cars,my PVC is a 2020 ex cat S all of which had been repaired before I bought them all very slight cosmetic damage I bought them at around 70% of pre damage value and the repairer had made his labour/parts cost plus his buy/sell profit

Very interesting.
But how does ( or does it?) effect the insurance price for being cat.S
Genuinely interested.
Thanks.

 

[src493]

Staveley Head motorhome renewal.
Nothing has changed with my circumstances (no accidents or claims or points etc).
Appreciate cost of living increases and things go up from last year, but this?
View attachment 989046

I’m full time in my motorhome. My premium went up £300 which works out about a 25% increase but I had a claim during the year

 

[TheAleMan]

If you go with nfu , it's not going to be the cheapest but you will never have this performance again.

We are with NFU. They have been absolutely brilliant in a very recent car accident we had after we got rear ended and our policy with them is a dual vehicle one which has only gone up by £200, so by todays standards that is not too terrible I think.

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[oldiesontour]

Very interesting.
But how does ( or does it?) effect the insurance price for being cat.S
Genuinely interested.
Thanks.

Makes no difference and when another driver hit and wrote off my wife's last car(beyond repair) we were paid about 30% more than it cost us nearly a year before

 

[oldiesontour]

We are with NFU. They have been absolutely brilliant in a very recent car accident we had after we got rear ended and our policy with them is a dual vehicle one which has only gone up by £200, so by todays standards that is not too terrible I think.

That would be around a 40% rise on what we pay for the wife's i10 and the pvc both 2020 both fully completed and covers both of us to drive,also it depends how much your policy was last year compared to other insurers.

 

[TheAleMan]

That would be around a 40% rise on what we pay for the wife's i10 and the pvc both 2020 both fully completed and covers both of us to drive,also it depends how much your policy was last year compared to other insurers.

Hi. Should probably have mentioned that we do have a Morelo Palace on the policy as well as our VW Up gti, so all things considered and going by some quotes I’m reading about, that don’t seem too bad at all.

 

[oldiesontour]

Hi. Should probably have mentioned that we do have a Morelo Palace on the policy as well as our VW Up gti, so all things considered and going by some quotes I’m reading about, that don’t seem too bad at all.

Perhaps we should use percentage increase as in reality without last year's price a monetary amount increase is meaningless to those looking to compare..

 

[Folkranger]

I look forward to my LV renewal in March. Three vehicles, the house, travel and the first renewal since turning 80 this year.

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[Nanniemate]

I suppose at the end of the day underwriters are businesses owned by shaholders who want to see increasing dividends ..for good or bad it's the capitalist economy we live in from the bottom up or top down we are a society that demands more...it's a train we can't stop and the vast majority only help it gain momentum..how many have turned pay (or pension) rises down or returned dividends?

Many of the insurance companies are the same people paying out pensions that are buying the vehicles

You pay in
Take out
Pay back in

 

[h8ten]

I blame these 'Claims' companies that handle accident claims, arrange hire cars etc. All too often I read of hire cars being recharged at many times the high street price and if this was also taken into account when costing out the car repairs then there would be more 'write-offs' as it is cheaper and quicker in the long run.

 

[Bazzagas]

Staveley Head motorhome renewal.
Nothing has changed with my circumstances (no accidents or claims or points etc).
Appreciate cost of living increases and things go up from last year, but this?
View attachment 989046

Mine was £390 last year
This year the same company quoted me £860..no accidents,no claims..
So I moved to scenic..same policy,
£282.....

 

[nicholsong]

I think it is time that MH owners started to ask these brokers what is the premium quoted to them by the Underwriters.

AFAIK there are only 3-4 underwriters in the MH market. They are probably quoting similar premiums to all brokers, who then choose to add whatever they think.

 

[GAVLAD]

Just as an update, I emailed Staveley Head insurance to confirm that I wouldn’t be auto renewing my policy with them and that I was disappointed with their quotation and the below is their response.
1) I wonder whether I was to try get a new quote from them, would it be cheaper than the renewal quote?
2) I’d check my letter before hitting send.
Look at the date at the bottom of their reply.
Obviously copied & pasted from everyone else’s reply since September.
Either way, it’s time to move on.



Good Morning,



Thank you for your email. This is to confirm that your insurance policy with Staveley Head will lapse on 05/01/2025 and your No Claims Bonus will be issued out to you once the policy has lapsed.



As of this date, your coverage will cease, and you will not be protected against any claims or incidents that may occur thereafter. To avoid any gaps in cover we strongly recommend securing a policy before the lapse date.





Unfortunately, your current provider ERS are now not offering Motorhome Insurance through us any more, if you combine that with the fact that along with all insurers this year have seen a significant rate change. This is to reflect the current state of inflation, with garage’s charges considerably more for vehicle repairs and parts costing more to acquire in the event of a claim. This is also due to the fact that whilst there were no increases during and before the pandemic, prices have increased significantly due to the large spike in claims following the pandemic. More vehicles being back on the road means more accidents and more claims, this has added to the costs insurers must pay.



Unfortunately we are in a market where the average insurance policy has increased around 59% compared to this time in 2023. We ourselves are a broker, who will shop the market and are legally required to send you the cheapest price we have available. This one we have sent you, is the cheapest price we have access to based on the information we hold.



If there’s anything you can think of that needs to be amended this year with yours or the vehicles information such as Annual Mileage, Value etc or if you would like us to refer an alternative quotation on to the insurer, We will be happy to see what we can do for you otherwise your insurance policy with Staveley Head will lapse on 28/09/2024 and your No Claims Bonus will be issued out to you once the policy has lapsed.



If there is anything else we can help with please let us know.

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[Molly A]

It's not just motor insurance, it's a fight every year for any renewal. I always go for auto renewal because it seems to give me a lever. You should always be advised when premiums are due before payment is taken. First request by me when contacting whichever robber is expecting my money is "Please cancel my auto renewal". They now know what is coming and they start mental substraction arithmetic. Green Flag wanted £130 this year as opposed to last year's £64. No quibble staying same as last year which is, after a call same time last year, the same as it was the year before and before that!

As an ex head of business retention for a major insurance company , never opt for auto renewal as it signals that you are an "inert custome" who may have an aversion to shopping around and is more likely to just accept the renewal price.They then will put a larger premium out on the basis that there is a very good chance it will renew, and they do, at a rate significantly higher than a non auto renew policy. Why do you imagine that insurers encourage you to auto renew?
Also some insurers will take the money 7 days before the renewal date( they will tell you so on your renewal documents) .

 

[Barchetta47]

I look forward to my LV renewal in March. Three vehicles, the house, travel and the first renewal since turning 80 this year.

I know LV won’t insure new customers. So just for existing customers, my renewal with them this Dec was an increase from £415 to £464. This covers a £27k value MH for 15k miles pa including european breakdown with Britannia. I’ll give them a ring this week to see if they can do better!

I’ll most likely stay with them as they will give me the Green Card for Morocco.

 

[westhamman]

If Aviva do buy Directline and other planned mergers and acquisition in the insurance businesses go ahead then there will be less competition in the markets

 

[8250]

Staveley Head motorhome renewal.
Nothing has changed with my circumstances (no accidents or claims or points etc).
Appreciate cost of living increases and things go up from last year, but this?
View attachment 989046

My private hire (taxi) insurance went from £894 to £1987 nothing had changed and no claims in 15 years

 

[Captain Yoghurtpot]

Makes no difference and when another driver hit and wrote off my wife's last car(beyond repair) we were paid about 30% more than it cost us nearly a year before

Very interesting.
Thanks

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[Tony50]

I’d say “renewal hotline” isn’t going to be busy with quotes like that! My CAMC Insurance renewal last month was almost identical to last year and very reasonable, I couldn’t beat it anywhere

My house insurance with them at renewal has been quoted A third more , over £110 boudly swindlers .

 

[JamesT@Dundee]

Staveley Head motorhome renewal.
Nothing has changed with my circumstances (no accidents or claims or points etc).
Appreciate cost of living increases and things go up from last year, but this?
View attachment 989046

See car insurance double over past 2 years. But this just appears to be chancing their arm.

Maybe worth asking them to list and quantify all the reasons for the increase. Perhaps we should all do that as insurance companies never provide explanations for increases.

Worth contacting the insurance ombudsman?

Insurance

If you have a complaint about a business that provides insurance, find out more and how we can help.

www.financial-ombudsman.org.uk

(and then look for more competitive quotes).

 

[A S R]

We are with NFU. They have been absolutely brilliant in a very recent car accident we had after we got rear ended and our policy with them is a dual vehicle one which has only gone up by £200, so by todays standards that is not too terrible I think.

This is what gets right on my tits with insurance companies.
You did absolutely nothing wrong, got hit by someone else and yet YOUR premiums go up! WHY?
It wasn’t anything you did so why should you / we suffer financially for it? You’re damage should be covered totally by the guilty party.
The guilty parties insurer should also cover the cost of any raise in the innocents premium until it comes back down to what it was originally. They’d soon stop that disgraceful practice if it hit them in the pocket! Bastards!
Sorry, but I think it’s an absolute disgrace.

 

[Geistguy]

There should be a government recognised insurance application form which the insurers are compelled to accept. You may have to spend some time initially filling it, but then just have to update any changes, speeding tickets etc. You just bang the form off for a quote.

This is exactly why I use a well known comparison website, fill in the online form when first enquiring to get your quotations, each year after you get a reminder and the original form is automatically updated, all you have to do is make any amendments and get a new quotation.

 

[oldiesontour]

Always check the cashback sites for energy, insurance and breakdown....yes adds a bit more hassle but I've had some amazing deals.. Breakdown insurance £90 with £75 cashback,this year home insurance 50% cashback had well over £1000 in total..never bother with small things too much trouble

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