Loading percentages and car "risk" brackets

legomanx51v

Would it not be great if insurance companies made it transparent what factors are the ones most likely to affect quotes?

For example how much discount the give for each year of NCB...

How many penalty points they ignore and how much they load for each set you have? I didn't get any loading for 2 or 5 as far as I can tell..

What cars they consider high or low risk, in the UK they have insurance categories that each car gets put into I believe?

As a motoring enthusiast it makes a big difference to a purchase decision.. I assume a basic 3 series is probably seen as higher risk than a quattro a4 even though I'd have the quattro a4 over a cheap 3 series.

Is there any way of finding this out without ringing and pretending to have "already bought" 3/4 different potential cars on the phone?

cplwhisper

Guide.
Axa give 5% NCB per yr earned 75% max
Aviva 10% per year up to 50% max
Rest differ

---

PP
Axa 1st 4 (2 offence with speed, seatbelt or phone = no loading
5th PP min 25% loading

Not bad considering Aviva charges 27% for 3 points....

---

Grouping of cars - check Parkers UK
Similar to Irish car scale

---

Cars that are the normal seen modded cars are high risk...
A- performance enhanced resulting in injury is high speed/messing involved

If it looks modified but basic inside, it can encourage attempted theft damage as 'night visitors' discover is a 'sheep ion wolves clothing ' and results in Theft claim rise

Special Circumstances

cplwhisper wrote: »

If it looks modified but basic inside, it can encourage attempted theft damage as 'night visitors' discover is a 'sheep ion wolves clothing ' and results in Theft claim rise

I'd love a separate thread of all of these nuggets of wisdom.

cplwhisper

Special Circumstances wrote: »

cplwhisper wrote: »

If it looks modified but basic inside, it can encourage attempted theft damage as 'night visitors' discover is a 'sheep ion wolves clothing ' and results in Theft claim rise

I'd love a separate thread of all of these nuggets of wisdom.

Sure r u not insurance staff !! U know these Nuggetts already

cplwhisper

Special Circumstances wrote: »

cplwhisper wrote: »

If it looks modified but basic inside, it can encourage attempted theft damage as 'night visitors' discover is a 'sheep ion wolves clothing ' and results in Theft claim rise

I'd love a separate thread of all of these nuggets of wisdom.

Sure r u not insurance staff !! U know these Nuggetts already

legomanx51v

Special Circumstances wrote: »

I'd love a separate thread of all of these nuggets of wisdom.

That's exactly what I was hoping to get together in his thread.

The average joe I'd say wants cheap insurance for basic family cars etc.
The motors forum (and me!) wants to to know what nice cars are an insurance "bargain".. i.e. Different fun and not pain in the hole to insure

Stheno

Axa load Hondas as they consider them high risk, I went from a 2.5 V6 Alfa to a 2.0 Honda accord automatic and my insurance went up.

When I asked why I was told they specifically load Hondas

9935452

Stheno wrote: »

Axa load Hondas as they consider them high risk, I went from a 2.5 V6 Alfa to a 2.0 Honda accord automatic and my insurance went up.

When I asked why I was told they specifically load Hondas

They load VW / Audis as well.

Im beginning to thing they load anything with 4 wheels and an engine.
i must get a quote for a reliant robin and test my theory,

Wibbs

Stheno wrote: »

When I asked why I was told they specifically load Hondas

I'd love to know their "reasoning". Certainly for older, pre 2000 Hondas(and other Japanese stuff) security was a major issue, but say a late noughties Honda would have the same risks as any other marque and would be less than some(BMW for example). Parts prices? Maybe that's it, but again there would be others more expensive on that score that would have lower premiums. I suspect it's more about a built up prejudice because of issues with older models from the company.

Special Circumstances

Wibbs wrote: »

I'd love to know their "reasoning". Certainly for older, pre 2000 Hondas(and other Japanese stuff) security was a major issue, but say a late noughties Honda would have the same risks as any other marque and would be less than some(BMW for example). Parts prices? Maybe that's it, but again there would be others more expensive on that score that would have lower premiums. I suspect it's more about a built up prejudice because of issues with older models from the company.

Sure all them hondas have "the VTEC" these days.

Absolute rockets. That variable valve technology is the devils work I tell you!

9935452

Wibbs wrote: »

I'd love to know their "reasoning". Certainly for older, pre 2000 Hondas(and other Japanese stuff) security was a major issue, but say a late noughties Honda would have the same risks as any other marque and would be less than some(BMW for example). Parts prices? Maybe that's it, but again there would be others more expensive on that score that would have lower premiums. I suspect it's more about a built up prejudice because of issues with older models from the company.

I dont think its part prices. That would make 3rd party fire and theft insurance cheaper wouldnt it .
With VW/audi i think its boy racers who drive up the price . Mapping cars and modifying them

Wibbs

9935452 wrote: »

I dont think its part prices. That would make 3rd party fire and theft insurance cheaper wouldnt it .

In the last weeks I have found a big discount going from fully comp to TPFT on a late 90's Jap car, so maybe that is part of it?

TheAlkaline

cplwhisper wrote: »

PP
Axa 1st 4 (2 offence with speed, seatbelt or phone = no loading
5th PP min 25% loading

Where did you find that information? Also as far as I know speeding is 3 points not 2.

cplwhisper

Let's just say inside info

TheAlkaline

cplwhisper wrote: »

Let's just say inside info

So if you are saying it was two speeding tickets or otherwise 4 points with no premium increase. Now if the speeding fine increased to 3 is the threshold 6?:o

cplwhisper

AXA done 2 offences when 2 points were mandatory . But they decided to retain the 4 threshold when law changed as still was allowing that we are all human,including themselves and staff, lots of other companies charge for 3 points thus it put them in better view to public. Thus not penalising for '1 bad day'

legomanx51v

Interesting stuff, especially the change from 2 to 3 points for single offences.
Any idea what AIG do with regards to points loading?

Would it not just be easier for the consumer if insurance companies laid out this information openly, instead of hiding it like a big secret...

Triangle

legomanx51v wrote: »

Would it not just be easier for the consumer if insurance companies laid out this information openly, instead of hiding it like a big secret...

It's like saying 'leave your door open for guests' - you'll get all sorts and find things missing. You lock your door - not for the 95% of people, but to stop the 5% from stealing something.

Generally, The (risk) difference between an own Goods delivery and a seasonal TP goods delivery is huge, but some unscrupulous risk intensive occupations would choose the cheaper occupation to cut down on price. This would then make the safer occupations more expensive.

The Insurance companies do not want to be too expensive - they're competing against each other for business.

Maybe making all the Insurers sign up to an online comparative quote engine would make things more transparent - at least then each consumer would be able to see the lowest price (and what they get with this price). But this would cost the state millions to support it - and who would pay for this?

legomanx51v

Triangle wrote: »

It's like saying 'leave your door open for guests' - you'll get all sorts and find things missing. You lock your door - not for the 95% of people, but to stop the 5% from stealing something.

Clear and open information is not something that can be stolen... it's hardly intellectual property.

What could definitely help is a clear policy statement with what is and is not covered... like third party extension, breakdown cover, windscreen cover etc.
This is mostly hidden in the fine print booklets and never easily presented
Resulting in me just ringing the company... being on hold for ages, having to look up my policy number just to ask... "Am I covered to drive my parents car to drop them to the airport?" or something along those lines.
If we are forking over higher and higher premiums each year, it'd be nice to get some decent level of product in return

cplwhisper

Whom are u insured , if u don't mind me asking

legomanx51v

AIG personally they've been pretty good to deal with and gave me a fair renewal last year too.
My comments are generalised to insurance companies as a whole