UK Taycan Insurance

[Fish Fingers]

Aviva similar earlier in the year with Model Y in particular. They paused for a couple of months. Sounds like John Lewis are doing similar but across the board. I wonder what underwriters they use?

Covea
.... Mentioned in the article.

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[simcity]

Thanks. Clearly skim read it!

My policy with Admiral is due for renewal on the 27th November. Dreading it to be honest. Expect will have to do the leave and join under a fresh policy to make the numbers look vaguely sensible.

 

[simcity]

Thanks. Clearly skim read it!

My policy with Admiral is due for renewal on the 27th November. Dreading it to be honest. Expect will have to do the leave and join under a fresh policy to make the numbers look vaguely sensible.

I knew from the groundswell of news that insurance renewal this year wasn't going to be a pleasant experience but Admiral have taken the biscuit.

For background last year, I put the car on policy on 21 December - basically for 341 days of cover (until the policy anniversary on 27 November this year) and paid £950.

This worked out as £1,018 for the year. There is some discount they apply to multicar policies, - in the order of 10-20% or something in that basic range.

This year I have sold one car which was on the policy, prior to the renewal, so basically it's become a single car policy. Nothing else has changed personally and still no claims, convictions or changes to personal circumstances.....

Lo and behold the renewal premium comes out today at £2,907 - so a more than 2.85 x rise over last year!!!

After spending half an hour on the phone with them they apply some 'special discounts' and this brought it down by £334 to £2,574 and that was their take it or leave it best offer.

So yeah other than getting some quotes from the Meerkats and Supermarket (which I've done) can anyone recommend a decent broker??

 

[f1eng]

I knew from the groundswell of news that insurance renewal this year wasn't going to be a pleasant experience but Admiral have taken the biscuit.

For background last year, I put the car on policy on 21 December - basically for 341 days of cover (until the policy anniversary on 27 November this year) and paid £950.

This worked out as £1,018 for the year. There is some discount they apply to multiyear policies, - in the order of 10-20% or something in that basic range.

This year I have sold one car which was on the policy, prior to the renewal, so basically it's become a single car policy. Nothing else has changed personally and still no claims, convictions or changes to personal circumstances.....

Lo and behold the renewal premium comes out today at £2,907 - so a more than 2.85 x rise over last year!!!

After spending half an hour on the phone with them they apply some 'special discounts' and this brought it down by £334 to £2,574 and that was their take it or leave it best offer.

So yeah other than getting some quotes from the Meerkats and Supermarket (which I've done) can anyone recommend a decent broker??

Wow! I am with Admiral and about to get a new quote from 1 December. I had been thinking of adding a Prius to the policy and dumping AA who have gone up every year.

 

[simcity]

Wow! I am with Admiral and about to get a new quote from 1 December. I had been thinking of adding a Prius to the policy and dumping AA who have gone up every year.

Make sure you're sitting down, with glass of your favourite tipple before you open that Admiral email!

After a load of waffle, I still wasn't able to get a straight answer as to why my premium had effectively tripled in 12 months.

Insane.

 

[tez1]

Wow! I am with Admiral and about to get a new quote from 1 December. I had been thinking of adding a Prius to the policy and dumping AA who have gone up every year.

How did you get on with Admiral?

 

[simcity]

Make sure you're sitting down, with glass of your favourite tipple before you open that Admiral email!

After a load of waffle, I still wasn't able to get a straight answer as to why my premium had effectively tripled in 12 months.

Insane.

Waved Admiral bye bye after 8+ years. Couldn’t get below £2,500 which is mad considering they were just over £1K last year for a car worth £30K more then!!

So have signed up with esure flex for £1400 this year. I dropped the protection on the no claims as that alone was over a £240 premium.

There I’ve now adequately jinxed myself.

 

[f1eng]

How did you get on with Admiral?

Haven’t heard from them yet with the next year’s premium due in the first week of December.

 

[Jin]

was just reading an article on MSE (https://www.moneysavingexpert.com/insurance/car-insurance/how-to-get-cheap-car-insurance/) which suggests renewing around 20-26 days before renewal for best prices.. no idea how this plays out but worth an early check

Your renewal notice from your insurer will show the new price for next year (and the price you paid last year). It's usually sent around 28 days before your current policy ends. If you do nothing, it'll usually automatically renew at that new price, so always have your renewal date in your diary to take action.
The cheapest time to get quotes is 23 days ahead of your renewal date – cover becomes more expensive the closer you get

Our analysis of over 70 million quotes from the four biggest comparison sites – Compare The Market, Confused.com, Gocompare and MoneySupermarket – showed a policy costs an average of £1,198 a year on renewal day. But 23 days earlier the average is just £694 a year, a MASSIVE £504 difference.

 

[KV1893]

Waved Admiral bye bye after 8+ years. Couldn’t get below £2,500 which is mad considering they were just over £1K last year for a car worth £30K more then!!

So have signed up with esure flex for £1400 this year. I dropped the protection on the no claims as that alone was over a £240 premium.

There I’ve now adequately jinxed myself.

I was with Admiral on a multi car policy for around 6 years, always good value and then this past May the renewal came in and the increase was staggering despite no changes. I then split the cars into seperate policies with different companies for a large saving.....I then picked up my Taycan in July and found that on a single car policy the best value was Admiral (£950) as I was seen as a "new" customer. Looks like they need the most loyal customers to perform the act of cash cow.

 

[Gnasher]

wow - i thought they weren't allowed to do deals for new customers anymore ?

 

[senwar]

Managed to get Admiral myself which has surprised me given the comments in the thread. Paid £1039 for Gold and £350 voluntary excess so £750 total. Multicar took it down to £780 but decided against it as Mrs has a decent policy with £0 excess

 

[KV1893]

wow - i thought they weren't allowed to do deals for new customers anymore ?

My understanding too but not what I experienced

 

[JasMK]

Just done my annual call with Admiral, MultiCover policy for 2 cars and the house was £1500 last year now £3k. Added 3 points that the wife picked up and that added another £450...

So, she now can't drive the Taycan, increased the voluntary excess to £250 on both cars and down to £2k after a "loyalty" discount. interesting that you have to phone them to get the discount isn't it?

I shopped around beforehand and couldn't get the Taycan under £2k just for me so this is still the best deal by a long way. Spent an hour on the phone with Saga (yes I'm that old) and they had to refer it to their underwriters - so I think we can guess where that's going. Esure won't quote.

Seems that EV adoption is going to take another hit as a result of increased premiums, so I think we can assume UK Taycan values will drop also. I know I thought about giving mine up when I saw the letter.

Please Sir, may I have another?

 

[kempez]

I chose a more expensive policy than the cheapest one last year and mine was circa £1300. Now it's £3300. I've done a quick market comparison and it's not far away from the cheapest. I've not added any other cars etc, maybe worth a try as our Volvo is also expiring soon and has also gone up by circa £500.

Both of us clean driving licenses, driving 20+ years and full no claims.

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