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The mysteries of car insurance

  bumpkin 20:41 13 Jun 2016

My daughters car insurance runs out on the 18th june and she has the renewal notice at £498. I always end up paying it anyway so called them to do so, just one change to it as I wanted to put a personal number plate on it and was expecting to pay a change of details fee. This was not so, I was given a revised renewal of £462 which I was happy to accept but why I ask myself, same car. same risk.

  wee eddie 21:02 13 Jun 2016

Maybe the Actuaries perceive/calculate that, because of the Personal Number Plates, the Driver will be a little more careful.

  bumpkin 21:27 13 Jun 2016

As I say, they work in mysterious ways, most of us are as careful as we can be I would have thought irrespective of the registration plate.

  Govan1x 23:32 13 Jun 2016

My brother in law added me to his motor insurance and instead of it increasing his premiums he actually got a £38 refund. Not sure how they work it out but there must be madness in there method.

  hastelloy 09:43 14 Jun 2016

I hope you used the comparison sites to see if you could get a better deal.

  bumpkin 09:47 14 Jun 2016

hastlloy, yes but It was still cheaper to renew with her existing company also easier.

  bumpkin 13:51 14 Jun 2016

Unfortunately not at the moment as she has been unable to work for some months due to a serious ankle injury. She has in the past. I don't consider it rude or nosey of you to ask though.

  Old Deuteronomy 16:15 14 Jun 2016

Perhaps the premium cut is because, in the the event of a write-off, they will sell the plate on themselves?

  Bazzaman 16:32 14 Jun 2016

It seems to be well established that adding an extra driver often reduces the premium (as long as the extra driver doesn't present significant risk). So have you considered that, Bumpkin?

  bumpkin 17:56 14 Jun 2016

Perhaps the premium cut is because, in the the event of a write-off, they will sell the plate on themselves?

In the past with a write-off I was asked whether or not I wished to retain the registration and when indicating yes was sent all the relevant paperwork. As I understand the rules are that once I have signed it (the vehicle) over to them and they become the owner/keeper then they are entitled to the plate so a tricky legal situation but I think they would be unwise for them to abuse it.

  bumpkin 18:05 14 Jun 2016

Bazzaman, I am a named driver on her insurance but don't know whether that makes it cheaper or dearer. On another vehicle where I wanted her as a named driver It was cheaper for me to have ANY driver over 21yrs rather than just her and that was the same company. Confusing or not:-)

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