Strudul Posted November 23, 2016 Share Posted November 23, 2016 (edited) So this just made my day. - Called up my insurer to ask about declaring mods and the costs involved - They wanted an extra £100 - Did a new quote (including the mods) on a price comparison site just out of curiosity - Came back at £200 less than I'm currently paying and that was with the same provider!? - Spent hours on the phone asking about changing my policy to reflect the difference in price, but got refused - Decided the best way to proceed would be to cancel my old policy and take out a new one - This meant accepting the excessive admin / cancellation fees, but saves me the additional cost of declaring mods AND lowers my premiums for the year - Went ahead and took out the new policy with the intention of cancelling my old policy - All went through smoothly - Called up to cancel the old policy, expecting to be hit by the extortionate admin / cancellation fees that I was repeatedly warned of - They said that because there would be no gap in my insurance (new policy starts immediately after the previous one is cancelled), they wouldn't charge me anything. - Just saved £300 and now I can do some mods without voiding my insurance Edited November 23, 2016 by Strudul 7 Quote Link to comment Share on other sites More sharing options...
Irn Bru Posted November 23, 2016 Share Posted November 23, 2016 Result mate Quote Link to comment Share on other sites More sharing options...
chirag1988 Posted November 23, 2016 Share Posted November 23, 2016 So this just made my day. - Called up my insurer to ask about declaring mods and the costs involved - They wanted an extra £100 - Did a new quote (including the mods) on a price comparison site just out of curiosity - Came back at £200 less than I'm currently paying and that was with the same provider!? - Spent hours on the phone asking about changing my policy to reflect the difference in price, but got refused - Decided the best way to proceed would be to cancel my old policy and take out a new one - This meant accepting the excessive admin / cancellation fees, but saves me the additional cost of declaring mods AND lowers my premiums for the year - Went ahead and took out the new policy with the intention of cancelling my old policy - All went through smoothly - Called up to cancel the old policy, expecting to be hit by the extortionate admin / cancellation fees that I was repeatedly warned of - They said that because there would be no gap in my insurance (new policy starts immediately after the previous one is cancelled), they wouldn't charge me anything. - Just saved £300 and now I can do some mods without voiding my insurance Who are you with mate as my insurance is due next month? Quote Link to comment Share on other sites More sharing options...
Strudul Posted November 23, 2016 Author Share Posted November 23, 2016 Admiral. Always seems to be the cheapest, especially if you start doing the multi cover (car or home). Doesn't get the best rep when it comes round to claiming though and I don't think they are particularly mod friendly if you are doing serious stuff. Quote Link to comment Share on other sites More sharing options...
chirag1988 Posted November 24, 2016 Share Posted November 24, 2016 Admiral. Always seems to be the cheapest, especially if you start doing the multi cover (car or home). Doesn't get the best rep when it comes round to claiming though and I don't think they are particularly mod friendly if you are doing serious stuff. Ah yes, I used to be with Admiral in my first year. But they don't cover mods like-for-like unfortunately. They'll only replace with OEM, meaning my aftermarket exhaust system and body mods would only get replaced back for standard stuff again Quote Link to comment Share on other sites More sharing options...
Jetpilot Posted November 24, 2016 Share Posted November 24, 2016 Does that not mean you lost a years no claims though as your policy didnt reach full term? Quote Link to comment Share on other sites More sharing options...
ash170990 Posted November 24, 2016 Share Posted November 24, 2016 I always used to use admiral as theyre cheapest for me, but on the last few cars ive had as they're so heavily modified id rather have them covered like for like just incase the worst should happen. Quote Link to comment Share on other sites More sharing options...
Strudul Posted November 24, 2016 Author Share Posted November 24, 2016 Does that not mean you lost a years no claims though as your policy didnt reach full term? Yes, but no. Only had the policy for 2 months, so that's all it's delayed my NCB. (Won't get a years NCB until Dec 17 rather than Oct.) I think even if I'd missed out on a full year the saving would off offset any NCB discount. Plus the renewal is just after the date I passed my test, so there's a benefit for driving for a full, rather than partial, year longer. Quote Link to comment Share on other sites More sharing options...
brillomaster Posted November 24, 2016 Share Posted November 24, 2016 that's a great result, love a bit of free money! Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted November 24, 2016 Share Posted November 24, 2016 Nice one. I have been with Admiral for the last 6 years. My insurance was up for renewal just this week. They wanted £750. Cheapest I could get it elsewhere was £385. I do the usual call up, explain that whilst Admiral have been slightly dearer each year I have remained loyal and stayed with them, what can they do to reduce the price. They express how keen they are to keep my business. Go through all my details again and give me a revised quote of £780. wtf. Thats going in the wrong direction. Even after mucho haggling they would only drop to £600 and that was with a much bigger excess than the cheaper quote, so ive now left them. Quote Link to comment Share on other sites More sharing options...
Exec Posted November 24, 2016 Share Posted November 24, 2016 (edited) I never stay with the same insurer more than a year, you get nothing for loyalty. I'm with elephant this year all mods declared £302, previous year I was with AXA £420. Who knows who it will be next year! I hope I save another £100 anyway. Edit: when I called to cancel the lady said would you like me to see if we can do it any cheaper? I said no iv taken my new policy out already, she didn't seem very happy and asked me to call before I swap next time. But to be honest I haven't got time to fanny about and it's easy enough to swap. Edited November 24, 2016 by Exec Quote Link to comment Share on other sites More sharing options...
Juggalo Posted November 28, 2016 Share Posted November 28, 2016 (edited) Insurance are major d***s I just swapped my insurance from a the Z to a piece of crap, £300 Corsa 1.2 SXi, and they dropped the premium by £1 per month. Yet insurance quotes online, even from the same company knock £150 off. They mug you off hoping you won't cancel the policy due to penalties. Something else the Government need to look at. Edited November 28, 2016 by Juggalo Quote Link to comment Share on other sites More sharing options...
Oggieteepo Posted December 2, 2016 Share Posted December 2, 2016 Lol... Feel better now Juggalo? ...I do agree though it's basically all smoke and mirrors, even if you wanted to cancel you'd get a early termination fee because its on credit, unless you paid up front of course then I don't know what their excuse is. 1 Quote Link to comment Share on other sites More sharing options...
rabbitstew Posted December 2, 2016 Share Posted December 2, 2016 Lol... Feel better now Juggalo? ...I do agree though it's basically all smoke and mirrors, even if you wanted to cancel you'd get a early termination fee because its on credit, unless you paid up front of course then I don't know what their excuse is. They still come out with something. The other year I was paying just £60 to insure my Yamaha R1 for 12 months. I always pay in full up front. 3 months into the policy I wanted to add another bike to the policy so I gave the company a call. They didnt do multi bike, and because I had used all my NCB on the R1 they wanted £600 to insure the Ducati. Even though I can only physically ride one bike at once, and its zero extra risk to them as it was 3rd party only insurance. In fact the Ducati is miles slower than the R1 so you could argue its actually better risk for them if im riding that instead of the R1. But no, they dont see it like that. In the end I said fair enough, I will cancel the policy and go elsewhere, as I can get both insured for just £120 with a competitor. 3 months into a 12 month policy I was expecting a refund of about 75% minus a "handling fee". Oh no. They wanted £80 from me to cancel my policy! Thats on top of the £60 id already paid for the years insurance. The reason being is that their small print had the usual handling fee which was £25 for any adjustments, plus an early cancellation fee, plus they had also had a condition that if you cancelled your policy at any point before the 12 months were up then any discount you were given on the premium was invalid and there you had to pay the full amount for those 3 months... etc. etc. Ridiculous. Quote Link to comment Share on other sites More sharing options...
Oggieteepo Posted December 5, 2016 Share Posted December 5, 2016 Lol... Feel better now Juggalo? ...I do agree though it's basically all smoke and mirrors, even if you wanted to cancel you'd get a early termination fee because its on credit, unless you paid up front of course then I don't know what their excuse is. They still come out with something. The other year I was paying just £60 to insure my Yamaha R1 for 12 months. I always pay in full up front. 3 months into the policy I wanted to add another bike to the policy so I gave the company a call. They didnt do multi bike, and because I had used all my NCB on the R1 they wanted £600 to insure the Ducati. Even though I can only physically ride one bike at once, and its zero extra risk to them as it was 3rd party only insurance. In fact the Ducati is miles slower than the R1 so you could argue its actually better risk for them if im riding that instead of the R1. But no, they dont see it like that. In the end I said fair enough, I will cancel the policy and go elsewhere, as I can get both insured for just £120 with a competitor. 3 months into a 12 month policy I was expecting a refund of about 75% minus a "handling fee". Oh no. They wanted £80 from me to cancel my policy! Thats on top of the £60 id already paid for the years insurance. The reason being is that their small print had the usual handling fee which was £25 for any adjustments, plus an early cancellation fee, plus they had also had a condition that if you cancelled your policy at any point before the 12 months were up then any discount you were given on the premium was invalid and there you had to pay the full amount for those 3 months... etc. etc. Ridiculous. Sounds about right... I pay £85 a year got my baby VFR lol, I dread to think what the fees are for cancelling part way through. Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted December 5, 2016 Share Posted December 5, 2016 Don't forget Admiral ask if you've been on a course instead of taking points and punish you for being honest ! Quote Link to comment Share on other sites More sharing options...
ilogikal1 Posted December 5, 2016 Share Posted December 5, 2016 ...and don't actually cover any modifications. 1 Quote Link to comment Share on other sites More sharing options...
chirag1988 Posted December 5, 2016 Share Posted December 5, 2016 ...and don't actually cover any modifications. This ^^ Although they're cheaper with the multi car policy, they'll only cover your mods for oem parts. I've been with Sky Insurance now 3 years in a row as they always seem to be the cheapest for me and steadily coming down in price each year, even if it's just £50-100 a year! Quote Link to comment Share on other sites More sharing options...
andybp Posted December 5, 2016 Share Posted December 5, 2016 Also Admiral will only cover certain mods nothing that makes any real power turbo ,superchargers or nitros Quote Link to comment Share on other sites More sharing options...
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