UK Insurance MADNESS

[Fish Fingers]

Remarkably our renewal for Admiral multi car has landed for early August renewal.

After a phone call and a bit of negotiating, I got it to £1300 - and it was £1200 last year.

Very pleasantly surprised as was expecting a hefty increase this year!
I did change the Taycan value as they still had it at new price - and obviously after 3 years it's quite a bit lower, on the other hand the wife's new car went the same amount the other way - so it's a fair comparison.

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[Ross]

Remarkably our renewal for Admiral multi car has landed for early August renewal.

After a phone call and a bit of negotiating, I got it to £1300 - and it was £1200 last year.

Very pleasantly surprised as was expecting a hefty increase this year!
I did change the Taycan value as they still had it at new price - and obviously after 3 years it's quite a bit lower, on the other hand the wife's new car went the same amount the other way - so it's a fair comparison.

Well done.
Perhaps Admiral does not see the North West as as much of a crime infested
cess pit as other insurance companies?

This line made me chuckle - "obviously after 3 years it's quite a bit lower"
You are not kidding!

 

[Fish Fingers]

Well done.
Perhaps Admiral does not see the North West as as much of a crime infested
cess pit as other insurance companies?

This line made me chuckle - "obviously after 3 years it's quite a bit lower"
You are not kidding!

I was expecting something like maybe a 50% increase. Even friends with ICE cars are seeing large increases - so I was amazed.
Last year was £1200. Renewal was £1400 - negotiated to £1300.

I asked what they had down as the cars value and it was still the same as new. I thought they may have adjusted it each year - but no.
So it's worth getting it set lower as they certainly won't pay the higher amount on any claim!
It didn't alter the premium much though.

And we all need our cars here, as we sure as 5hit won't he travelling on HS2...... no we now get a slower and worse service - but more expensive than before. ?

https://news.google.com/articles/CB...LXNheXMtMTMxODM4NzM?hl=en-GB&gl=GB&ceid=GB:en

 

[Boss Hogg]

I’ve been trying to arrange insurance for my incoming MY25 Turbo, beware, not even Porsche Insurance will offer cover due to the high performance, high repair costs and mileage over 8k per year. I pointed out the the irony of Porsche branded insurance refusing to insure new Porsche cars to no avail. I have 15 years NCD, clean licence, late forties and car parked on a drive in a low risk postcode. I eventually found an insurance option at £4.25k with a £4k excess. No wonder new Taycan sales are slow!

 

[Midlifecrisis]

I’ve been trying to arrange insurance for my incoming MY25 Turbo, beware, not even Porsche Insurance will offer cover due to the high performance, high repair costs and mileage over 8k per year. I pointed out the the irony of Porsche branded insurance refusing to insure new Porsche cars to no avail. I have 15 years NCD, clean licence, late forties and car parked on a drive in a low risk postcode. I eventually found an insurance option at £4.25k with a £4k excess. No wonder new Taycan sales are slow!

That is ridiculous. I checked insurance costs before ordering when I bought mine but obviously things change. I worry that Taycans will become uninsurable due to the stupidly high costs of repair for even minor things. Several threads on these costs on the forum

 

[W1NGE]

That is ridiculous. I checked insurance costs before ordering when I bought mine but obviously things change. I worry that Taycans will become uninsurable due to the stupidly high costs of repair for even minor things. Several threads on these costs on the forum

I just renewed my MY23 with Admiral after going elsewhere last year and now back down to £950 fully comp etc.

My view is the value of the car is the issue. If you have GAP Insurance then you can consider slicing your own valuation (Admiral value the car automatically now which is great) to something more realistic. GAP will then cover the delta.

 

[Boss Hogg]

I just renewed my MY23 with Admiral after going elsewhere last year and now back down to £950 fully comp etc.

My view is the value of the car is the issue. If you have GAP Insurance then you can consider slicing your own valuation (Admiral value the car automatically now which is great) to something more realistic. GAP will then cover the delta.

good idea but value of the car prohibits gap insurance, most policies are capped at £100k, Ala appears highest at £125k. My car is just north of £150k.

 

[Murph7355]

No way would I be paying £4k for car insurance (for ANY car), fantastic as I think the cars are.

I'd be having a word with the dealer, noting I tried Porsche insurance and that I'll have to ditch the order if there's nothing they can do.

Mine's due in Sept. Your post nudged me to check quotes...looks like mine will go down £50, but still a touch over £1k for a car a bit under 2/3s the value of yours.

 

[Boss Hogg]

I’ve been caught out, my current 4s is a fraction of the price due to lower vehicle value (£50k) and a 3 years old policy. The fact Porsche won’t insure their own cars is a joke/worry for future sales.

 

[Boss Hogg]

No way would I be paying £4k for car insurance (for ANY car), fantastic as I think the cars are.

I'd be having a word with the dealer, noting I tried Porsche insurance and that I'll have to ditch the order if there's nothing they can do.

Mine's due in Sept. Your post nudged me to check quotes...looks like mine will go down £50, but still a touch over £1k for a car a bit under 2/3s the value of yours.

I’m committed to the car, cannot get out of it. £1k is reasonable, you’ve done well. I use mine for business so the higher mileage kills it but there will be fewer business purchasers based on these insurance costs. Not sure who will buy a Taycan going forward.

 

[Murph7355]

I’m committed to the car, cannot get out of it. £1k is reasonable, you’ve done well. I use mine for business so the higher mileage kills it but there will be fewer business purchasers based on these insurance costs. Not sure who will buy a Taycan going forward.

I'd still be having words with them (Committed in terms of you've paid for it? Or committed in terms of wanting the car and not having another lined up?)

My 1k quote was for 10k miles a year and includes commuting...I know full business use might add...but £4k is still ludicrous.

 

[Murph7355]

I’ve been caught out, my current 4s is a fraction of the price due to lower vehicle value (£50k) and a 3 years old policy. The fact Porsche won’t insure their own cars is a joke/worry for future sales.

As a PS, I would be using the fact they won't cover their own car as a lever to cancelling it....assuming you're not committed against the latter definition I noted above

(Anything over £70k seems to attract attention with the insurers at present).

 

[Boss Hogg]

I’ve paid a £30k deposit. I’m taking it on PCP, if the insurance becomes impossible, as it pretty much is, then there will be some interesting legal situations.

 

[mandoyoda]

Can GAP insurance be renewed after the first 3 years, and if so, is it worth it?

 

[Murph7355]

I've never understood the economics or mechanics of gap insurance.

If the gap insurer can cover £10k for £1, why can't the main insurer do the same?

It's also not there to allow a lower value to be stated with the main insurer and pick up the slack with the gap insurer. Doing that will lead to major headaches with both IMO.

Strikes me that if one is worried about their main insurer not paying up properly, or their spec is so unique that finding a replacement will be impossible and leave you at the mercy of Porsche pricing, that you either need a better main insurer and/or an agreed value policy.

Has anyone on here actually successfully claimed on gap insurance? How did the need arise to claim, and how did the process work?

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