Rocketing Insurance... why ?

[ketvrin]

Just got my invite to renew from Haggerty and am horrified that it has gone up from near £160 to £220 --> same cover 5000 miles limit and no change of circumstances or claim... what on earth ???

they say they can reduce by £25 if I reduce my mileage to 3000... but thats not the point...

what is anyone else paying and who with. recommendations please.

I always praised Haggerty but cannot understand this move

K

ETA details of cover

Edited by ketvrin on Tuesday 20th October 16:28

[tozerman]

I'm expecting my renewal from haggerty's soon and this post makes me nervous. I guess though that car insurance generally has gone up so there is no reason why our cars should be any different.
cheers.....Tony..

[Steve H]

I appreciate that many think that insurance companies make a lot of money but they really do not. Many factors are going against us the moment:

1) Rising claim costs, personal injury claims and accident management companies are hitting insurers hard.
2) No investment income, and so insurers are having to make underwriting profit (which means higher rates)
3) Uninsured drivers, add approx £30 to everyones premium

I have been advised by a very large UK insurer that at present they are paying out £1.20 for every £1.00 they collect (this includes running costs) and I dont think this is unusual.

For many years the industry has driven down rates and there is only so low it can go before an upturn

Steve

[TVR-Stu]

Thats a strange one Kevin because my Hagerty policy has gone down!! Its only by £1 but hey, no complaints from me.

This is for a limited mileage (5,000 a year) policy, not that I'm getting anywhere near that kind of distance.

I renewed sometime in August.

[Gerald-TVR]

Hagerty £169.05 October 2008, £187.32 October 2009 but that inclused UK roadside breakdown (you cant opt not to have it!!), both agreed value and 5,000 miles.

Could have saved a bit with A Plan but was influanced by very positive comments on PHeads regarding claim handling by Hagerty

Edited by Gerald-TVR on Tuesday 20th October 13:58

[zombeh]

Mine came down £160 this year (renewed start of september) but then I have only had the car for just over a year.

[ketvrin]

Gerald-TVR said:

Hagerty £169.05 October 2008, £187.32 October 2009 but that inclused UK roadside breakdown (you cant opt not to have it!!), both agreed value and 5,000 miles.

Could have saved a bit with A Plan but was influanced by very positive comments on PHeads regarding claim handling by Hagerty

I'm reluctant to change and your cover sounds the same as mine Norman but the increase on mine is way high... looks like I'm going to have to "go-compare"

they have attempted to explain the increase but not convincingly...

pity...

sorry SteveH I couldn't hear your message for the violins playing in the background... poor Insurance Companies eh ?

K

[kenpage]

hi kev its probably due to the 30% rise in classic car claims in the last year try rh

[Wiz]

Mine went up but when i spoke to them and reduced it from 5000 to 4000 miles it wasn't much more than last year.
Cosiderably cheaper than A.F the club reccomended insurer and breakdown included.

[lou4010]

Kev have been following this thread about Hagerty,might answer some of your questions
http://www.pistonheads.com/xforums/topic.asp?h=0&a... to stop insuring cars with modification
I went with Lancaster for my first year at £168.Renewal is due next month so will be interesting to see what it comes out at.

[Gerald-TVR]

Who is going to Classic Car Show perhaps we could ALL visit the Hagery stand and make our feelings known

[Steve H]

ketvrin said:

Gerald-TVR said:

Hagerty £169.05 October 2008, £187.32 October 2009 but that inclused UK roadside breakdown (you cant opt not to have it!!), both agreed value and 5,000 miles.

Could have saved a bit with A Plan but was influanced by very positive comments on PHeads regarding claim handling by Hagerty

I'm reluctant to change and your cover sounds the same as mine Norman but the increase on mine is way high... looks like I'm going to have to "go-compare"

they have attempted to explain the increase but not convincingly...

pity...

sorry SteveH I couldn't hear your message for the violins playing in the background... poor Insurance Companies eh ?

K

Ha Ha, don't worry I hear that everyday!!!!!

[ketvrin]

lou4010 said:

Kev have been following this thread about Hagerty,might answer some of your questions
http://www.pistonheads.com/xforums/topic.asp?h=0&a... to stop insuring cars with modification
I went with Lancaster for my first year at £168.Renewal is due next month so will be interesting to see what it comes out at.

interesting discussion but thankfully my only issue was with the renewal price. I too felt iwas being dealt with by enthusiasts and I'm not Hagerty-bashing per-se but am having a moan...

I would be happy if they met me half way but have not so farm

I like Normans idea to collar them at a show.
Seems strange that they have not responded on the other thread.

I'm going to ring around to see if they are still competative. At least I'm not alone

K

[Mr Clifford]

Simple.
Ask them to explain to you why they are increasing your insurance.
Especially as your situation has not changed.
Then, explain that you would like to explain to others on this website why they have increased your insurance as others found this topic interesting reading.
I think thats fair.

Edited by Mr Clifford on Tuesday 20th October 21:17

[ketvrin]

Yes I did that and it was the respose I felt was unconvincing... Car sales down generally so dealers increasing repair costs to increase their revenue so cost to insurers higher... surely not ? After two years of not making a claim, being below the agreed mileage I was disappointed to se an increase at all but it was the size of the increase which made me go to print... over 35% increase...

I have contacted them again and referred them to this thread in the hope that they will see what the meerkat thinks and at least reduce the size of the increase...

K .com ?

[MnS]

Hi Kev,
you might want to give RH specialist car division a try http://www.rhclassicinsurance.co.uk/ (01277 206911), they were near on the same as Hagerty for mine @£170 , i only moved to hagerty because of the good feedback through the forums.
Ian

Edited by MnS on Wednesday 21st October 13:53

[Son of Flinny]

Hi Kev

Mine acutally came down this year, just a squit over £200, limited mileage and agreed valuation. Try classicline.

[jimed]

I was with Classicline a few years ago and they were barking - I couldn't leave the car on the drive for over 5 mins (even after washing it down and wanting to dry it - as it was 'garaged') and they wouldn't shift on that - they also had an annoying habit of scattering all sorts of do's and don'ts in the paperwork that came with renewals, etc. and assumed that although not in the policy they applied so I gave up with them - they also charged for agreed valuations so unless they have seen the light and sorted all the silly things they did I'm staying well away from them!
Interestingly though I extended the mileage with Hagerty for this year and the paperwork showed a premium of £220+ (which they explained would be the premium for a new policy due to rate changes) whereas it was about £170 or so last year so even allowing for the additional 1k miles its gone up a very large chunk! As Kevin says we need to shop around.
Jim

[S2 Giles]

Bite the bullet chaps, its only a few quid. I have just renewed mine at 199 and yes i could get it 20 cheaper by moving elsewhere, but ive used them for a while now & they give me no trouble.

[Dave_M]

Mine had gone up a little but only a few quid not 35%, still the cheapest for me.