UK Insurance MADNESS

[Ross]

Just got a quote on my new Mercedes
EQC

I was disappointed as it is only £100 cheaper than my Taycan GTS was last year.
I got rid of the Taycan today but decided to see what it would have cost me….
Same comparison website, all the same conditions. The Taycan is worth half what it was a year ago.

Could probably get better of course but what a difference!

Before you keep or buy your dream Taycan make sure you can afford to insure it.

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[tropical]

When I checked a month ago the cheapest through compare the market for me was £2500. I passed as I’m currently paying £900!

 

[senwar]

That’s bizarre. I’ve just gone from a CT4 to a GTS and the quotes are cheaper via comparison sites. I only had to pay £13 admin fee to change over. When I got the car 6 months ago it was £1025

 

[senwar]

Saying that, something needs to change. It’s unsustainable.

I see JLR are giving £150 pcm insurance subsidy to new owners until September

 

[Maybe-Used]

In USA I did not have the same high cost at all. For a used 2000 turbo basically something like $200 a year more than a VW ID4 Pro S.
to give some numbers

– add as 3rd $732 for 6 months – based on current term rate
$607 rate for 6months with removing the Volks

New England/ comprehensive coverage. great credit no claims etc

well, I can afford the insurance, but still on the fence

 

[W1NGE]

Just got a quote on my new Mercedes
EQC

I was disappointed as it is only £100 cheaper than my Taycan GTS was last year.
I got rid of the Taycan today but decided to see what it would have cost me….
Same comparison website, all the same conditions. The Taycan is worth half what it was a year ago.

Could probably get better of course but what a difference!

Before you keep or buy your dream Taycan make sure you can afford to insure it.

£896 via Admiral for my GTS ST this morning.

Gocompare clearly doesn't have insurers who want to cover the Taycan hence the comedy pricing.

 

[Midlifecrisis]

I am not surprised that costs are spiralling when you read about the cost of repairs. Either repair costs need to drop or premiums will continue to rise. Insurance companies are businesses and can’t/won’t lose money over the long term

 

[Throb]

I am not surprised that costs are spiralling when you read about the cost of repairs. Either repair costs need to drop or premiums will continue to rise. Insurance companies are businesses and can’t/won’t lose money over the long term

I'll be renewing my insurance on my Dutch-registered Taycan GTS soon, but from my experience, insurance costs haven't gone up in the Netherlands like they have in the UK. If it is "repair costs", then there's no reason why the same costs wouldn't go up all over Europe rather than just the UK.

As a Brit living in the NL for the last 23 years, I'm well aware of the higher propensity for prices to rise over the slightest thing in the UK compared to everywhere else for what often are spurious reasons. Over the last few years, "inflation" has been high, triggered by COVID, but IMHO, inflation has remained high because it's a self-fulfilling prophecy. I think businesses have increased prices because they know they can get away with it. People expect prices to go up, so let's put them up. And it keeps going. You're even justifying the insurance premiums rising due to rising repair costs. So even if the insurance companies don't need to raise premiums, they may as well do it because people are giving them an excuse to do it!

 

[Ross]

£896 via Admiral for my GTS ST this morning.

Gocompare clearly doesn't have insurers who want to cover the Taycan hence the comedy pricing.

Interestingly I am with Admiral multicar at the moment
Last year £2700 for Taycan, Etron and House
Cant remember split - Taycan £1600 Etron 900 House 200?

Waiting for renewal prices tomorrow........watch this thread

Those quotes I posted above are from Compare the Market

I have got quotes from

Compare the Market
Money Supermarket
Confused
and
Go Compare

Mercedes EQC quotes £1400 to £1700
Audi Etron £1100 to £1400

Admiral are listed as providers on all 4 price comparison sites but they are
not quoting at all for EQC or Etron. Never mind a Taycan

I just do NOT understand what the actuaries are up to with their algorithms

I do have 2 problems.
My postcode is BL1. Higher risk and pricier compared to posh OX28 where I used to be
and it appears, rural, crime-free Scotland!
Also I reversed into a skip doing £6500 damage to the Etron in 2021.
Nothing else, convictions etc

Whatever the situation I just cant understand the enormous difference in quotes between
the Etron/EQC and the massive reluctance to insure a Taycan

 

[Ross]

I'll be renewing my insurance on my Dutch-registered Taycan GTS soon, but from my experience, insurance costs haven't gone up in the Netherlands like they have in the UK. If it is "repair costs", then there's no reason why the same costs wouldn't go up all over Europe rather than just the UK.

As a Brit living in the NL for the last 23 years, I'm well aware of the higher propensity for prices to rise over the slightest thing in the UK compared to everywhere else for what often are spurious reasons. Over the last few years, "inflation" has been high, triggered by COVID, but IMHO, inflation has remained high because it's a self-fulfilling prophecy. I think businesses have increased prices because they know they can get away with it. People expect prices to go up, so let's put them up. And it keeps going. You're even justifying the insurance premiums rising due to rising repair costs. So even if the insurance companies don't need to raise premiums, they may as well do it because people are giving them an excuse to do it!

That's the advantage of living in Europe.
There is a definite non-spurious reason insurance and repair costs have gone up in UK more than Europe.
Thanks to the economic marvel of Brexit. It is a big factor.
When my Audi was repaired in 2021, Covid was a factor but the price of parts has
rocketed since Brexit, and with all the extra paperwork since Brexit getting the parts from Europe is much more difficult. The body shops have put their prices up because of this.
My Audi repair took weeks longer than it could and should have. Parts arrived piecemeal.
Constant chasing by the body shop. Customers have courtesy cars for much longer. It all adds up.

 

[Andics]

Watch out in not doing too many permutations on comparison sites.

they all share the same databases and you can end up banned in a black hole where none gives online quotations anymore.

ask me how I know that...

 

[W1NGE]

Interestingly I am with Admiral multicar at the moment
Last year £2700 for Taycan, Etron and House
Cant remember split - Taycan £1600 Etron 900 House 200?

Waiting for renewal prices tomorrow........watch this thread

Those quotes I posted above are from Compare the Market

I have got quotes from

Compare the Market
Money Supermarket
Confused
and
Go Compare

Mercedes EQC quotes £1400 to £1700
Audi Etron £1100 to £1400

Admiral are listed as providers on all 4 price comparison sites but they are
not quoting at all for EQC or Etron. Never mind a Taycan

I just do NOT understand what the actuaries are up to with their algorithms

I do have 2 problems.
My postcode is BL1. Higher risk and pricier compared to posh OX28 where I used to be
and it appears, rural, crime-free Scotland!
Also I reversed into a skip doing £6500 damage to the Etron in 2021.
Nothing else, convictions etc

Whatever the situation I just cant understand the enormous difference in quotes between
the Etron/EQC and the massive reluctance to insure a Taycan

I insured last year with eSure ironically moving away from Admiral as they couldn't beat £400 for the same cover on the Taycan. Not had a renewal from eSure yet (their website and authenticated access is atrocious - still waiting on my login to be confirmed by email (who does that these days)) but not expecting the same low price as before...if so I will stay put.

 

[911GP]

I had the same issue. My admiral muticar policy has gone up about 50% on the year but it is still the cheapest quote I could get by some margin.

Speaking to the insurers, the cost of repairing cars has caused premiums to increase. Last year someone drove into the back of my wife’s car. The repairer did a great job and excellent service. They even provided a box of chocolates as a thank you. Obviously all this bakes into the repair cost which then escalates the insurance premiums so it turns out to be the most expensive chocolates I have ever eaten.

 

[Kev946]

I'm British living in France. Last years insurance on my GTS ST was 1070 euros. Just negoiated it down to 815 euros by having my house insurance and other cars with them. That's about 700 gbp which is super low and its an all risk policy, fully comprehensive, any driver over 25 and includes non competitive track days.

 

[BigBob]

Admiral offered me a discount for multi-car insurance. When i told them I had a Range Rover, they offered me about £200 cheaper on the Taycan and about £5k more on the RR was with direct line....

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