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post #1 of 13 (permalink) Old 25th May 2007, 22:22 Thread Starter
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Motor Insurance

Can anybody explain to me how insurance companies work out their quotes.

I recently contacted my insurance company to find out if fitting a set of different alloy wheels would make any difference to my premium. I told them that the car already had a set of decent alloys fitted, and that the replacements would be genuine Honda wheels designed for the car.
I thought that the premium might rise slightly, but when the guy said 370 I was a bit surprised, it is normally 280.
How can a different set of alloys cost 90 extra to insure?

It goes without saying that I won't be bothering to get any alloys.
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post #2 of 13 (permalink) Old 25th May 2007, 22:38
 
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From my experience they will use any excuse to rob you. When I increase my annual mileage from 12K to 20K I say an increase of 80. More chance of having an accident I was told. Nothing to do with never making a claim ever!
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post #3 of 13 (permalink) Old 25th May 2007, 23:04
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I've just been getting quotes for my new civic. I've had quotes between £460 and £1500! I've had differences of £100's from companies that are basically the same other than the brand name! I really can't work out how they decide their prices!
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post #4 of 13 (permalink) Old 25th May 2007, 23:12
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Quote:
Originally Posted by Foggy69 View Post
Can anybody explain to me how insurance companies work out their quotes.

I recently contacted my insurance company to find out if fitting a set of different alloy wheels would make any difference to my premium. I told them that the car already had a set of decent alloys fitted, and that the replacements would be genuine Honda wheels designed for the car.
I thought that the premium might rise slightly, but when the guy said 370 I was a bit surprised, it is normally 280.
How can a different set of alloys cost 90 extra to insure?

It goes without saying that I won't be bothering to get any alloys.
I wouldnt of bothered telling them. If there genuine Honda Civic alloys but a different design to yours now then as far as i knew they just came with the car.
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post #5 of 13 (permalink) Old 25th May 2007, 23:18 Thread Starter
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I wouldnt of bothered telling them. If there genuine Honda Civic alloys but a different design to yours now then as far as i knew they just came with the car.
I thought about that, but I remember a thread here a while back where somebody had contacted their insurance company for some advice about some damage to the car, no claim was made, but the details of the conversation were kept and used against him.
I am worried that if I had to claim, the alloys would be checked against the standard car, found to be non standard and the insurance then becoming void.
Probably too paranoid for my own good
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post #6 of 13 (permalink) Old 26th May 2007, 00:33
 
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Basically they talk out of their sodding arses. I`ve had a quote from Priveledge for 450 for my soon to be CTR but "Budget" ( yeah right), my until recently, current insurance company,quoted me a whopping 900!!

I think some companies are simply set up to avoid the "higher risk" car and driver.

The ridiculous thing is I`m nearly 40, clean license, 8 yrs no claim bonus! God knows what some younger drivers are being quoted for insurance on a new CTR.
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post #7 of 13 (permalink) Old 26th May 2007, 04:35
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I'm paying £1300 for my 2.2 (22yo, 2 years no claims). And that was a pretty reasonable quote!

Foggy in terms of your alloys, are they bigger in size? Or the same size just different style?

If they are bigger, technically they will alter the characteristics of the car, hence why most insurers raise the premuim (unfairly? maybe). If they are the same size, made by Honda specifically for the Civic and are purely cosmetic I wouldn't be bothering to tell you insurance company, in essence they're like for like. You're not altering anything really.
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post #8 of 13 (permalink) Old 26th May 2007, 10:38
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now youve told them though like you said. Its probably on record!!
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post #9 of 13 (permalink) Old 26th May 2007, 11:48
 
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I had the same issue with my old 2002 Civic, that was a dealer ex-demo so had some body kit and 16" alloys (standard was 15" on that model) - all cosmetic to make the car look better, nothing to enhance the performance of the car. Those alterations increased my premium from 430 to 600 per year. Naturally I told my insurance company where they could stick it and rang around for some other quotes. The best I came across was 350 per year - and that was WITH the modifications! So my original insurance company was ripping me off big time!

So the moral of the story is...shop around. If your existing insurance company tries to rip you off, show them the door!
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post #10 of 13 (permalink) Old 26th May 2007, 18:35 Thread Starter
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Originally Posted by czechplastik View Post
I'm paying 1300 for my 2.2 (22yo, 2 years no claims). And that was a pretty reasonable quote!

Foggy in terms of your alloys, are they bigger in size? Or the same size just different style?

If they are bigger, technically they will alter the characteristics of the car, hence why most insurers raise the premuim (unfairly? maybe). If they are the same size, made by Honda specifically for the Civic and are purely cosmetic I wouldn't be bothering to tell you insurance company, in essence they're like for like. You're not altering anything really.
I was thinking of the 18" Blades, rather than the standard 17" ones, but I didn't tell them that, and they didn't ask. I just said a set of Honda wheels.
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post #11 of 13 (permalink) Old 26th May 2007, 18:57
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Originally Posted by Foggy69 View Post
I was thinking of the 18" Blades, rather than the standard 17" ones, but I didn't tell them that, and they didn't ask. I just said a set of Honda wheels.
A predicament then indeed.
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post #12 of 13 (permalink) Old 26th May 2007, 19:12 Thread Starter
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So the general consensus is that insurance companies are robbing b*****ds who make up quotes as they see fit.

I think I won't risk invalidating my insurance by fitting the wheels and not telling them, and I'll be buggered if I am paying an extra 33% more on my premium just to have the wheels fitted.
Oh well, saved me a few bob I suppose
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post #13 of 13 (permalink) Old 26th May 2007, 20:54
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Quote:
Originally Posted by Foggy69 View Post

I think I won't risk invalidating my insurance by fitting the wheels and not telling them
Wise man, many people don't inform, have an accident and get caught out.
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