Car insurance over 15 years old?

Lellostag

Arkady wrote: »

Do they take into account how long you've owned the car, or will they be reasonable with a recently bought older car as well ?

Good question, but I have no idea to be honest. Perhaps the most accurate answer you'll get to that question is a 'maybe'...

All you can do ia call them and get a quote and take it from there.

Galadriel

fussyonion wrote: »

Aviva will cover you.
But my insurance went from €350 last year to €750 this year.
Feckin' nuts.

Was that a renewal though? Aviva would not quote me on my 16 year old car.

Galadriel

Arkady wrote: »

Do they take into account how long you've owned the car, or will they be reasonable with a recently bought older car as well ?

I doubt it, they just in put the number and once it's over 15 years they won't quote you - if that's their policy that is.

Below are some of the companies that wouldn't quote me, I cannot remember the rest:

fbd
glennon
allianz
aviva
its4women
no nonsense
aig
supervalu
cornmarket
kennco

A couple of other big companies did quote me like chill and 123.ie but the prices where off the wall.

EDIT - actually 123.ie wouldn't quote me.

Arkady

Galadriel wrote: »

I doubt it, they just in put the number and once it's over 15 years they won't quote you - if that's their policy that is.

Below are some of the companies that wouldn't quote me, I cannot remember the rest:

fbd
glennon
allianz
aviva
its4women
no nonsense
aig
supervalu
cornmarket
kennco

A couple of other big companies did quote me like chill and 123.ie but the prices where off the wall.

So does that effectively mean buying any car over 15 years old then then insuring it is out ? Pity there are some great older cars out there.

Galadriel

Arkady wrote: »

So does that effectively mean buying any car over 15 years old then then insuring it is out ? Pity there are some great older cars out there.

No, not at all, that's what I thought initially when I started looking for quotes, you just have to look harder that's all, as someone mentioned AXA quotes older cars, so you will always find a quote but it will probably be more expensive then it would have been before they implemented this rule.

Arkady

Galadriel wrote: »

No, not at all, that's what I thought initially when I started looking for quotes, you just have to look harder that's all, as someone mentioned AXA quotes older cars, so you will always find a quote but it will probably be more expensive then it would have been before they implemented this rule.

So are you talking a couple of hundred more to insure 15+ year old car, or what penalty roughly ?

Galadriel

Arkady wrote: »

So are you talking a couple of hundred more to insure 15+ year old car, or what penalty roughly ?

It obviously depends on other factors...age, car etc. but from my own personal experience looking for quotes some companies where quoting up to 400 more then what I paid in the end, but the likes of Axa quoted me probably 100 more then I paid last year so that wasn't too bad.

Sam Kade

Is it still possible to insure a recently purchased older car?

The_Honeybadger

Yes. Some companies are refusing to quote older cars or loading the premium but others are business as usual. My wife has a 14 year old car and insured it not long ago with Axa no problem.

XR3i

what year is it?

mtoutlemonde

Sam Kade wrote: »

Is it still possible to insure a recently purchased older car?

It is but at serious cost. I spent two days ringing around and the prices were completely mad - worth a lot more than the car. I decided to change mine and start again. I was with a broker and my insurance company priced themselves out of the market and I would be classed as a new customer, many insurance companies wouldn't give me a quote and any that did were mad.

neris

There was a guy on the last word a few nights ago organising a demo against high insurance. He said one person whod contacted him had got a quote of €14,000 for insurance for a 15 year old car. Yes fourteen thousand euro

XR3i

i;m arthur insuring a 97 vw for 1200 quid, only 2 yrs ncb, impossible is nothing

Ciano35

XR3i wrote: »

i;m arthur insuring a 97 vw for 1200 quid, only 2 yrs ncb, impossible is nothing

With who?

Triangle

Ciano35 wrote: »

With who?

I got a 02 car insured with AA last August. It was with aviva who no quoted me the previous day.....

Try around, there are some that havnt gone insane!!

cravings

got a 95 car insured with britton insurance.

Jimmy Garlic

How long more will people bend over for these fu**ing parasites? I am at the point now where I am ready to drive on with no insurance at all. A giant scam. hand in hand with the motor ''industry'' to get as many perfectly serviceable, NCT passed cars off the road as possible so they can flog more new cars.

Sam Kade

Jimmy Garlic wrote: »

How long more will people bend over for these fu**ing parasites? I am at the point now where I am ready to drive on with no insurance at all. A giant scam. hand in hand with the motor ''industry'' to get as many perfectly serviceable, NCT passed cars off the road as possible so they can flog more new cars.

Then the environment crowd say you should reuse instead of discard to save the planet :rolleyes:

Bank of Ireland: Evie

Good Afternoon Sam Kade,

We noticed your post and just wanted to let you know that Bank Of Ireland are doing insurance for older cars, and can offer you a quote over the phone. If you would like to receive a call please PM us your name and number and we would be happy to arrange this.

Thanks,
Evie

Jesus.

XR3i wrote: »

i;m arthur insuring a 97 vw for 1200 quid, only 2 yrs ncb, impossible is nothing

You sound chuffed with that. You should sound like someone's just robbed you at gunpoint.

Liam McPoyle

Jimmy Garlic wrote: »

How long more will people bend over for these fu**ing parasites? I am at the point now where I am ready to drive on with no insurance at all. A giant scam. hand in hand with the motor ''industry'' to get as many perfectly serviceable, NCT passed cars off the road as possible so they can flog more new cars.

Its clear that many insurers don't want to take on older cars.

Why do you think this is?

Do you genuinely believe they are in cahoots with the motor traders?

How does that work?

By effectively pricing people out of insurance that are driving older cars, they would be losing out on money.

Surely to God it would make more business sense to charge chunky premiums for older cars than the lower premiums they can get for newer ones, wouldn't it?

I mean if its such a cash cow insuring older vehicles then why are some of them not?

Insurance companies are businesses after all so they should take on anyone that wants insurance, shouldn't they?

beauf

They are losing out money across all cars new and old as they increased costs for them all.

Liam McPoyle

beauf wrote: »

They are losing out money across all cars new and old as they increased costs for them all.

Why do you think this is?

As in why are they seemingly happy to turn away customers?

You don't see Tesco, SuperValu, Dunne's etc ramping up their prices, quite the opposite.

Why, as a business, would an insurance company deliberately turn down new customers?

beauf

You are assuming the reason they give are accurate. I would suggest not being so accepting of what insurance companies tell you.

http://www.independent.ie/business/personal-finance/aviva-posts-40m-profit-despite-rise-in-claims-34530821.html

IMO insurance companies in Ireland tried to make a fast buck by not challenging claims. This has come back to bite them.

awards for whiplash in Ireland average € 15,000 per case compared with € 5,000 in the UK and € 3,000 in France and Spain.

http://www.irishtimes.com/business/financial-services/whiplash-accounts-for-80-of-motor-claims-insurance-chief-1.2549433

Theres also other factors feeding into this, like Quinn debacle, and Setanta judgment etc.

http://www.insuranceireland.eu/news-and-publications/news-press-release/insurance-ireland-proposes-range-of-measures-to-address-increases-in-the-cost-of-claims

Cutting out older cars, isn't going to fix any of the above. Its another fast buck tactic.

screamer

Seemingly their experience is that cars over 10 years old are more involved in scams...... and judging by the outlandish quotes the insurance companies are giving I can only agree. Question is though who's being scammed.......

Liam McPoyle

I have posted about this before and I will post again to refresh it.

If an insurer declines to quote you, their actuarial data HAS to back up why they are not quoting.

So if they tell you that cars over x years old are a higher risk than younger cars they legally have to prove this if challenged.

This legality came from a case involving a driver over 70 years of age and RSA in 2003.

RSA declined to quote him based on the fact that they had an auto decline rule in place for drivers over 70.

He brought a case through the ombudsman and was successful because RSA were unable to prove that drivers over 70 were a higher risk than drivers under it. He got €2000 in compensation but more importantly, the law was changed to incorporate the fact an insurer has to have the facts in place to prove, beyond reasonable doubt, their underwriting decision is sound.

I work as an underwriter in an insurance company, but Im just a small cog in a very large machine so I do not have access to high end underwriting decision making, I can only base my opinions on what I'm told and what I see on a daily basis.

I would LOVE if someone challenged the ruling because one of the core values of insurance is utmost good faith, as far as I'm concerned that has to go both ways, both from the customers AND from the companies.

If insurers are making these claims then they have to be able to prove them, there are massive potential fines for breaches of the consumer protection code and outright lying to customers would be at the very top of the severity chart IMO.

Hellrazer

Saul T Nutzz wrote: »

I
I would LOVE if someone challenged the ruling because one of the core values of insurance is utmost good faith, as far as I'm concerned that has to go both ways, both from the customers AND from the companies.

Just been a victim of these so called parasites aswell.
Been with my current insurer over 15 years.No accidents ,claims convictions etc.I have zero penalty points but they wont insure me on anything over 15 years old (Aviva btw)
Ive been driving a nice family 7 seater for the last 10 years now and my oldest is now 18 and I no longer need the 7 setare and Im wanting to treat myself to a decent older luxobarge.Just for me!!!

My premium is identical to what Im paying if I but a 2002 model of the exact same vehicle but is loaded if its a year older (actually 2 months older--2001 was registered in December and the 2002 registered in February)
This has annoyed the f**k out of me.

Saul--how would a person challenge one of these rules?


Looking at the complaints procedure for the ombudsman its a case of making a complaint with the insurance company first and then waiting on a referral letter from them before going down the ombudsman route.
How costly do you think this would be?

Would you have a case with the example above ie only a 2 month older vehicle but treated as a year older in the eyes of an insurance company??

Someone has to take that case and soon.

/rant over/

Liam McPoyle

Hellrazer wrote: »

Just been a victim of these so called parasites aswell.
Been with my current insurer over 15 years.No accidents ,claims convictions etc.I have zero penalty points but they wont insure me on anything over 15 years old (Aviva btw)
Ive been driving a nice family 7 seater for the last 10 years now and my oldest is now 18 and I no longer need the 7 setare and Im wanting to treat myself to a decent older luxobarge.Just for me!!!

My premium is identical to what Im paying if I but a 2002 model of the exact same vehicle but is loaded if its a year older (actually 2 months older--2001 was registered in December and the 2002 registered in February)
This has annoyed the f**k out of me.

Saul--how would a person challenge one of these rules?


Looking at the complaints procedure for the ombudsman its a case of making a complaint with the insurance company first and then waiting on a referral letter from them before going down the ombudsman route.
How costly do you think this would be?

Would you have a case with the example above ie only a 2 month older vehicle but treated as a year older in the eyes of an insurance company??

Someone has to take that case and soon.

/rant over/

It won't cost you a thing.

First port of call is to go through the complaint process with the insurer.

Hellrazer

Saul T Nutzz wrote: »

It won't cost you a thing.

First port of call is to go through the complaint process with the insurer.

The case you mentioned earlier and them having to prove that older cars are more risky than newer cars--do you have a link to the actual wording in law?

That seems to be the way to go with this.

Liam McPoyle

Hellrazer wrote: »

The case you mentioned earlier and them having to prove that older cars are more risky than newer cars--do you have a link to the actual wording in law?

That seems to be the way to go with this.

Don't have it to hand mate but if you google Ross vs RSA 2003 case & ruling you should find it without too much difficulty.