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Old 20th August 2016, 19:00   #1
kc13661
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Default Underwriter wont insure

This year I had a good deal with the Co-op insurance for my 2.0 CDT 53 plate

however I have just got the T plate (1999) 1.8 auto, went to change vehicle details over, and they wont insure it, excuse was the underwriters wont insure this vehicle, no reason given

So insurance cancelled at no cost to me and a refund on my payment due, had to go elsewhere for cover
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Old 20th August 2016, 19:23   #2
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I think this scenario is going to become the norm, I heard that these cars are becoming a problem to insure for some companies.

Another scenario is... It puts people at a high risk, some insurers like you to buy newer when changing your car. They believe an older car will not get taken car of that well, especially when you previously had a newer vehicle.
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Old 20th August 2016, 19:52   #3
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Quote:
Originally Posted by kc13661 View Post
This year I had a good deal with the Co-op insurance for my 2.0 CDT 53 plate

however I have just got the T plate (1999) 1.8 auto, went to change vehicle details over, and they wont insure it, excuse was the underwriters wont insure this vehicle, no reason given

So insurance cancelled at no cost to me and a refund on my payment due, had to go elsewhere for cover
That is the reason - the underwriter wont insure the car. As stated above, insuring older cars could be perceived as higher risk by some underwriters.
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Old 20th August 2016, 19:53   #4
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I've had two companies refuse to insure mine, Swiftcover & I've forgotten the other now no reason given to me either
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Old 20th August 2016, 19:55   #5
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Quote:
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I've had two companies refuse to insure mine, Swiftcover & I've forgotten the other now no reason given to me either
Yet Swiftcover gave me the lowest quote....strange
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Old 20th August 2016, 20:01   #6
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Yet Swiftcover gave me the lowest quote....strange

I've had ridiculously wildly differing quotes not just online but ringing the main insurance companies also.
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Old 20th August 2016, 20:02   #7
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Interesting thread. I will soon be changing my insurance from the MG ZR (for sale very soon) to my latest aquisition, a Contemporary 2.5 V6. It will be interesting how much it will be or if I encounter any problems.
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Old 20th August 2016, 20:07   #8
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ask the underwriter about it. I had trouble some years ago with a bike. it turns out that the broker buys a package from the underwriter. my bike was not included and so was not covered. the underwriter would not set up an insurance policy with me but only with a broker but this broker did not have in place the right package. hence had to change underwriter.

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Old 20th August 2016, 20:09   #9
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Due to our cars having such a large following, clubs/forums etc, this can also be its Achilles' heel.

Many of us price our cars unrealistically, so when we need to make a claim, we shoot ourselves in the foot. Many mods go undeclared until insurance claim time, then we bully the insurance companies for as much as possible.

Its a massive knock-on effect.
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Old 20th August 2016, 21:50   #10
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When your renewal arrives from your existing company and is higher than last year, give them a ring and tell them that you can't see the justification for it. It often works and in the past I've had significant money taken off the renewal quote just for phoning them. Of course, they go through the policy with you on the phone and try to find something that's 'wrong' but usually nothing is changed but mysteriously the price drops back down to around last year's cost.

I had heard that many insurers try to increase in a three year cycle i.e. year 1 is cheap to get you to buy it, year 2 is a little more so you renew and then you get clobbered in year 3 and they hope you won't notice or are to lazy to change it. I don't have any evidence for this though!

My Mrs always calls around for a few quotes when her insurance is due and a couple of years ago it really paid off. She called More Than to get a quote for our Rover 45, didn't take the policy out because it was too expensive but then about a month later got a call to say that she'd been entered into a prize draw when she called and won first prize... We still have the BMW 1 Series Sport that she won parked on the drive ;-)
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