Insurance Renewal Time

[CaptainK 11]

Its that joyous time of the year for my 205 GTi6 and I've just got my renewal letter through. It has a breakdown of the price and it has a £30 fee for "Renewal Administration". WTF ? I'm guessing I can negate this by ringing up and applying for a NEW policy and thus I'm not renewing. Thing is, I'm happy with my current insurer (HIC) as their service is excellent. But this "fee" is taking the mickey.

 

Now my 205 is a GTi6 powered on on ITBs and so forth. So the likes of ComparetheMeerkat hate it etc and won't quote for me. I'll be ringing round Sky and Adrian Flux and possibly try Footman James for a quote. Fingers crossed some insurer out there appreciates a 205 with a GTi6 in it.

[SurGie 54]

Well it seems this is another excuse for taking more money of their customers because the insurance companies are going broke by the looks of things. Check this THREAD out as well people.

 

If people ring as a new customer you could get a better deal because loyalty does not pay, i was advised this by Martin Lewis the financial adviser on TV.

[Edp 67 3 Cars]

A renewal admin fee is the one when you loosen your belt, bend over and take one for all the uninsured drivers out there! another way of insurance companies screwing us over I'm afraid.

[GLPoomobile 958]

The renewal administration fee is the same as the administration fee they charge to make any changes to the policy. In laymens terms, it's what you pay them for the hours of hard work that they do every time they have to do something on your behalf. I mean, it's not easy for them to try and find you the best deal is it? They have to work damned hard on your behalf!

 

Be grateful, you f***ers!

[skyinsurance 2]

Its that joyous time of the year for my 205 GTi6 and I've just got my renewal letter through. It has a breakdown of the price and it has a £30 fee for "Renewal Administration". WTF ? I'm guessing I can negate this by ringing up and applying for a NEW policy and thus I'm not renewing. Thing is, I'm happy with my current insurer (HIC) as their service is excellent. But this "fee" is taking the mickey.

 

Now my 205 is a GTi6 powered on on ITBs and so forth. So the likes of ComparetheMeerkat hate it etc and won't quote for me. I'll be ringing round Sky and Adrian Flux and possibly try Footman James for a quote. Fingers crossed some insurer out there appreciates a 205 with a GTi6 in it.

 

Just a heads up Kieran, flux wont undercut HIC so you might as well save yourself a phone call..

Edited November 26, 2010 by skyinsurance

[skyinsurance 2]

The renewal administration fee is the same as the administration fee they charge to make any changes to the policy. In laymens terms, it's what you pay them for the hours of hard work that they do every time they have to do something on your behalf. I mean, it's not easy for them to try and find you the best deal is it? They have to work damned hard on your behalf!

 

Be grateful, you f***ers!

 

I hate defending insurers as I only work for one small fish in big ocean but many, many other industries have fees, in fact yesterday lunchtime I had to pay £200 + £50 ADMIN fee to get my £450 s*itty Micra released from the local pound after parking on a double yellow for 5 minutes. The admin was a silly little man making me sign one bit of paper. Have you seen solictor admin fees? It puts insurers fees into perspective, trust me.

 

Ollie

Sky Insurance

[AJA_GTi 0]

I seem to be changing my car every 6 months or so when I get bored and ibuyeco hit me with a £30 charge every time i change anything. It's a disgrace to be honest and something that has happened in the last year or so.

[skyinsurance 2]

I seem to be changing my car every 6 months or so when I get bored and ibuyeco hit me with a £30 charge every time i change anything. It's a disgrace to be honest and something that has happened in the last year or so.

 

Why is it a disgrace may I ask?

[AJA_GTi 0]

Why is it a disgrace may I ask?

 

 

I pay enough to start with!

 

I have 8 years ncd and no points. I do not see it as value for money considering they email me my documents.

 

It's as if administration costs were not factored into your premium to start with when they clearly must be for the business to work surely.

[skyinsurance 2]

It's as if administration costs were not factored into your premium to start with when they clearly must be for the business to work surely.

 

That is the point though, they are not. When you take your annual policy it is not based on you changing to another vehcile mid-term. To be fair to any insurer, it takes time for an employee to change the details, transmit the new details to the insurer and issue new policy documentation, as mentioned, compare that to some other industries admin charges and it is a bargain.

[Tom Fenton 1,542]

I do not see it as value for money considering they email me my documents.

 

 

I had a good debate with AXA insurance this year over this. Having 6 years NCD and a diesel estate car I was already fed up with paying over £600 for insurance. Then they sent me an internet link to where I could print my documents. I told them in no uncertain terms that having paid over £600 I did not expect to be printing my own bloody certificate, and they could either send them to me in the post, or I would cancel the insurance under the distance selling regulations cooling off period.

 

They posted me the docs.

[skyinsurance 2]

I had a good debate with AXA insurance this year over this. Having 6 years NCD and a diesel estate car I was already fed up with paying over £600 for insurance. Then they sent me an internet link to where I could print my documents. I told them in no uncertain terms that having paid over £600 I did not expect to be printing my own bloody certificate, and they could either send them to me in the post, or I would cancel the insurance under the distance selling regulations cooling off period.

 

They posted me the docs.

 

Fair enough, I would ahve done exactly the same thing, good on you

[Ren 0]

While we're on the insurance subject and have Ollie to answer questions, I have a query.

 

I've been ringing round getting quotes for a new car and the price for leaving it on the street is lower than keeping it in the garage. Why?

 

It's quite a big difference as well, Prob £x to keep in the garage, £x - £50 for the driveway and £x - £100 for on road. Admiteedly this on a policy around £800 but I always thought the garage was cheapest. I was shocked to say the least.

 

Ren

[skyinsurance 2]

While we're on the insurance subject and have Ollie to answer questions, I have a query.

 

I've been ringing round getting quotes for a new car and the price for leaving it on the street is lower than keeping it in the garage. Why?

 

Hi Ren,

 

I agree it is shocking, this wouldn't be the case with my company I would like to point out first of all (shameless plug )

 

I have seen this trend recently though, and have seen the same issue raised on many car club forums. A few insurers are indeed charging more for a car kept in a garage than on a drive or on-street parking.

 

The answer is simple.. everything as far as insurance prices go is dictated by claims statistics. There have been a higher volume or higher value claims from cars kept in garages than on streets / driveways for the particular insurers who are charging more. When you look at the bare bones of it, it does seem like madness.

 

Ollie

[Anthony 1,003]

I'd perhaps hazard a guess that it's because it is so common for people to lie about where their car is parked overnight in a bid to reduce their premium - after all, there can clearly be no way that on average a car is more at risk parked in a locked garage than it is parked on the street.

 

I think the issue with administration charges is that they are not, in my opinion, relative in value for the administration being provided, in the same way that it was argued that bank charges were not relative to what was being penalised. £5-10 would be reasonable, but £30 isn't. This is especially when it certainly feels that insurance companies aren't playing fair with the premium changes anyway when changing cars. I mean, as an example, if I take out insurance on make/model A and then halfway through the policy swap it over for make/model B, I'll get no or little rebate. If a month or two later I then swap it back to make/model A again, you can pretty much guarantee that there will be a significant extra premium to pay. Clearly, that makes little sense, but in my experience atleast is commonplace, and coupled with an inflated admin charge leaves a very bitter taste.

[SurGie 54]

Which in turn means we have more people not insured because of their price increases, which inflates the situation even further. I think the insurance system will change soon to something like having cameras in the cars to get lower premiums, and if you dont have a camera you will be charged a lot more.

[Ren 0]

Hi Ren,

 

I agree it is shocking, this wouldn't be the case with my company I would like to point out first of all (shameless plug )

 

I have seen this trend recently though, and have seen the same issue raised on many car club forums. A few insurers are indeed charging more for a car kept in a garage than on a drive or on-street parking.

 

The answer is simple.. everything as far as insurance prices go is dictated by claims statistics. There have been a higher volume or higher value claims from cars kept in garages than on streets / driveways for the particular insurers who are charging more. When you look at the bare bones of it, it does seem like madness.

 

Ollie

 

Thanks Ollie, the only reason I could think was that if you were parked on the driveway they could break in to your house to get the keys and take the car but if you were on the road they wouldn't know which house the car belonged to. Either that or people put their car in the garage but don't bother to lock it or take the keys out.

 

As it happens the quote I've received from Sky is the best so far so will be taking a policy out with yourselves. I've been dealing with a guy called Sam who has been very professional and polite and has called me a few times to see how I'm getting on, please pass on my thanks (quoted me for a Monaro VXR). I will be in touch with him soon to arrange the policy, just waiting for the house move to complete and will then be looking for the car.

 

Ren

Edited December 2, 2010 by Ren

[muddatrucker 125]

Documentation via email (thats generated from a mail merge to begin with) doesn't take much effort once the system is implemented.

 

When asked, most companies (with all industries) are unable to give a in depth breakdown of what an admin fee is actually for.