Boxster Insurance renewal increase!
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- Nurse, I think I need some assistance
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Boxster Insurance renewal increase!
Just for info:
My Boxster, 987.2 2009, 2.9 litre.
I've owned it for 6 years so 6 years NCB, last 4 years have been with LV
Last year was £235.97 and this year's invitation is £355.43, about a 50% increase.
Nothing has changed, no claims, no points, just me a year older (now 71)
They exhaustively explained why cost rises etc are reflected in the renewal.
I will look at what else there is, but prefer to insure through big organisations only, so will probably grin and bear it.
How come 50% increase is down to cost increases of parts etc and labour rates in garages?
I feel a sense of Rip-Off TBH.
My Boxster, 987.2 2009, 2.9 litre.
I've owned it for 6 years so 6 years NCB, last 4 years have been with LV
Last year was £235.97 and this year's invitation is £355.43, about a 50% increase.
Nothing has changed, no claims, no points, just me a year older (now 71)
They exhaustively explained why cost rises etc are reflected in the renewal.
I will look at what else there is, but prefer to insure through big organisations only, so will probably grin and bear it.
How come 50% increase is down to cost increases of parts etc and labour rates in garages?
I feel a sense of Rip-Off TBH.
73T 911 Coupe, road/hillclimber 3.2L
Lola t 492 / 3.2 hillclimb racer
Boxster 987 Gen II 2.9
Lola t 492 / 3.2 hillclimb racer
Boxster 987 Gen II 2.9
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Re: Boxster Insurance renewal increase!
50% increase seems to be par for the course these days.
Insurance on my car went from £300 to £450 recently.
I hawked around extensively before paying!
Same as you Graham, no changes at all apart from 1 year older.
Insurance on my car went from £300 to £450 recently.
I hawked around extensively before paying!
Same as you Graham, no changes at all apart from 1 year older.
Merc B Class diesel
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Porsche-less
- KS
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Re: Boxster Insurance renewal increase!
The problem is caused by the sharp increase in repair costs (paint, and materials in general) allegedly...
Re: Boxster Insurance renewal increase!
All of our cars both toys ( on classic policies with agreed valuations) and dailies have seen a slight decrease this year. Go figure?
Personally I would not accept that degree of increase but a quick search of the comparison sites should give you a better idea..
Personally I would not accept that degree of increase but a quick search of the comparison sites should give you a better idea..
86 Guards Red Carrera 3.2
87 UR quattro
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05 Guards Red 987 Boxster S
87 UR quattro
89 Guards Red 944 turbo
05 Guards Red 987 Boxster S
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Re: Boxster Insurance renewal increase!
The insurance premium (with Direct Line) on my Golf tdi estate went up by almost 30 per cent this year - checking the two main comparison sites, all results were up by a similar amount compared to last year...hmg66 wrote: ↑Fri Aug 18, 2023 7:15 pm All of our cars both toys ( on classic policies with agreed valuations) and dailies have seen a slight decrease this year. Go figure?
Personally I would not accept that degree of increase but a quick search of the comparison sites should give you a better idea..
Re: Boxster Insurance renewal increase!
Quite a few big insurers have pulled out the retail market which is bad for competition. Actual labour rates are up a bit, parts and paint more but not to the degree of the increases, It is more that insurers have been losing money for years on first year premiums, aggregator fees and sites are bad for profit! They are looking to make some margin, With everything else going up in cost and a bit less competition a good time for them all to make some hay, Bummer,
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Taycan 2022
993 C2 Coupe 1996 - SOLD
912 Coupe 1968 - SOLD
550 Spyder - SOLD
Re: Boxster Insurance renewal increase!
Related to Pandora lifting the lid on inflation; insureres are regulated to hold large amounts of capital (in respect of the premiums you pay up front and money set aside for large injury claims) in low risk (of default) gilts - government debt. As interest rates rise, gilts prices drop so insurers have a hole on their balance sheet they need to fill by charging you more.
The same principal has generated losses estimated at £270bn on successive government's quantitative easing schemes (or should that be scams?) so expect Insurance Premium Tax to keep going up too...
The same principal has generated losses estimated at £270bn on successive government's quantitative easing schemes (or should that be scams?) so expect Insurance Premium Tax to keep going up too...
maverick
noun
1. an unorthodox or independent-minded person.
2. an unbranded calf or yearling.
Origin mid 19th century: from the name of Samuel A. Maverick (1803–70), a Texas rancher who did not brand his cattle.
noun
1. an unorthodox or independent-minded person.
2. an unbranded calf or yearling.
Origin mid 19th century: from the name of Samuel A. Maverick (1803–70), a Texas rancher who did not brand his cattle.
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- Put a fork in me, I'm done!
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Re: Boxster Insurance renewal increase!
It is a bit like fuel prices, which I am sure could be less. If all these companies agree to set the same principles and up their prices, they all follow. Too many companies are ready to rip off the public nowadays. Weird how gas and electricity companies have agreed to lower their prices once the summer comes, you use less, and more daylight hours, only for them to raise prices in the winter to reap more profit from more use, colder weather and shorter days.
Some times you are better off phoning up insurance companies direct, that are not on comparison sites, who may give you a better deal. If you can put your current car, with current details in a comparison site, and your current insurance company comes up with it cheaper, they are now breaking the law.
https://www.fca.org.uk/news/press-relea ... 0customers.
Some good advice on renewals here...........
https://www.theguardian.com/money/2022/ ... s-renewals
Some times you are better off phoning up insurance companies direct, that are not on comparison sites, who may give you a better deal. If you can put your current car, with current details in a comparison site, and your current insurance company comes up with it cheaper, they are now breaking the law.
https://www.fca.org.uk/news/press-relea ... 0customers.
Some good advice on renewals here...........
https://www.theguardian.com/money/2022/ ... s-renewals
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Re: Boxster Insurance renewal increase!e
Being a damn hippy I’ve always used mutuals, I’ve had no increases at renewal this year or last, minor drops in fact.
Inflation over the last 12 months has been 6.something %, not 30 or 50%.
Maybe it’s an age thing. I did read somewhere that pensioners are driving up motorways the wrong way a lot more than they were.
Inflation over the last 12 months has been 6.something %, not 30 or 50%.
Maybe it’s an age thing. I did read somewhere that pensioners are driving up motorways the wrong way a lot more than they were.
964 C2 Targa. 205 1.6 GTi. Testarossa. Fisher Fury Fireblade. Motorhome. Motorbikes. Scooters. Pushbikes. Threadbare Saucony Peregrines. Dog. Human relations and friends. 97.5%-built house.
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- Nurse, I think I need some assistance
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Re: Boxster Insurance renewal increase!
Just put the Boxster into Go Compare. LV quote is £10 more.
All quotes from the big people, Hastings etc are a touch more or into the 400's.
Looks like an auto renewal.
All quotes from the big people, Hastings etc are a touch more or into the 400's.
Looks like an auto renewal.
73T 911 Coupe, road/hillclimber 3.2L
Lola t 492 / 3.2 hillclimb racer
Boxster 987 Gen II 2.9
Lola t 492 / 3.2 hillclimb racer
Boxster 987 Gen II 2.9
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- Put a fork in me, I'm done!
- Posts: 1647
- Joined: Fri Mar 01, 2013 11:45 am
- Location: Kernow - good old Cornwall
Re: Boxster Insurance renewal increase!
Try Chubb or NFU Mutual?
- PeterK
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Re: Boxster Insurance renewal increase!
All of my family’s car insurances renew this month. All have gone up 50% with Direct Line and they can’t / won’t do anything with their quotes, even when I said I could get cheaper. However, when I could quote a specific cheaper (MoneySuperMarket online) quote with my X1 and they pretty much matched it. Lesson learned, get a comparison quote before you call to discuss your renewal and be prepared to prove it.
'79 Targa - restoration now mainly complete & being driven
viewtopic.php?f=28&t=59756
viewtopic.php?f=28&t=59756
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- Nurse, I think I need some assistance
- Posts: 18959
- Joined: Mon Mar 10, 2008 6:26 pm
- Location: West Midlands
Re: Boxster Insurance renewal increase!
I left Direct Line with my last Skoda renewal for the very same reason, no negotiation at all, that's the price, take it or leave it.
We made a claim on them with the wife's Citigo 6 years ago.
They were really good at resolving it (not our fault) but the repair was poor.
We made a claim on them with the wife's Citigo 6 years ago.
They were really good at resolving it (not our fault) but the repair was poor.
73T 911 Coupe, road/hillclimber 3.2L
Lola t 492 / 3.2 hillclimb racer
Boxster 987 Gen II 2.9
Lola t 492 / 3.2 hillclimb racer
Boxster 987 Gen II 2.9
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- Nurse, I think I need some assistance
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Re: Boxster Insurance renewal increase!
This is son no 3 specialist subject now. He is trying to lower the capital cost for a large insurance business or rather measure and justify the allocation. Unfortunately, higher rates are here for a whileHugo 356 wrote:Related to Pandora lifting the lid on inflation; insureres are regulated to hold large amounts of capital (in respect of the premiums you pay up front and money set aside for large injury claims) in low risk (of default) gilts - government debt. As interest rates rise, gilts prices drop so insurers have a hole on their balance sheet they need to fill by charging you more.
The same principal has generated losses estimated at £270bn on successive government's quantitative easing schemes (or should that be scams?) so expect Insurance Premium Tax to keep going up too...
Just spoke to him. Appears that the capital can be invested in a wide range of instruments not just gilts. It's the same old story of post 2008 zero rates, lower inflation and strong asset growth. The world has changed into high rates, high inflation and low growth.
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Re: Boxster Insurance renewal increase!
I had the same issue - quote up 48%. (Direct line) - told them I was a year older , more experience , less risk , years extra no claims , and the car was worth less - so +48% was NOT going to fly .... Period !!. Renewal quote came down about 15% immediately. No good I said ... "we" need to make a change to the policy ... any ideas ? ... NO !! Right I said , let's look at excess figure .... so it was increased to max of £500. Oh - that worked .... down about another 20%. so , we went for it.
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GL 1800 Tour DCT, for pleasure / Fantic 240 Professional - play
Rally 911 (1966) build parked for a while
Rally 928 (work started again - inc serious weight loss programe !)
.... and now another VW Up GTI owner.