Reminder to check your premiums

[Gagakev]

Had the re-newal for our caravan insurance this week, didn't think it was too bad really, we are with one of the big two.
Premium £130.00 and insured for £6,775.00 cover.
OH went to re-new and asked if there was any discount as the van is now older and we haven't made a claim, categorically a NO.
But you can reduce the value of the cover say's him which will bring the premium down. Would you like me to check the value of your van, ummm yes please..........It's book value is £5,400.00 which is what we would pay out.
SO says OH you were charging us the higher premium and you would only pay out the lower figure.. yes thats right says him.
Why didnt you put that on the re-newal.........WE dont tell any one unless like you they ring up and ask!!!!!!!!!!!

 

[Raywood]

For those of us insuring on a replacement as new a similar point is valid. Updating my cover for inflation cost me another £5 which I can live with. It is vital to do this as if it drops too low against the replacement cost the cover reverts to market value which could hit the pocket quite hard.
Having a Lunar and with their future still up in the air, they were happy for me to use an equivalent make, which in my case the nearest was an Eldiss.

 

[Hutch]

Remember about the cost of the new Motor mover And awnings etc. I asked the Cand CC this year about changing my excess, to £500 , it decreased the cost by £20. I refused this , and on a review, excess back to £100, and Renew payment dropped by £20 . Confused me. .

 

[Buckman]

We normally set our excess to zero and the premium is actually lower than if we had it set to £200?

 

[ProfJohnL]

I have yet to see an insurance cover that costs less with a £0 excess. The basic policy charge will be increased to cover the lack of excess, so you end up paying most if not all of it every year.

Where as if you have a excess, and providing you don't make a claim them your saving on the excess adds up year on year.

 

[Buckman]

I have yet to see an insurance cover that costs less with a £0 excess. The basic policy charge will be increased to cover the lack of excess, so you end up paying most if not all of it every year.

Where as if you have a excess, and providing you don't make a claim them your saving on the excess adds up year on year.

I have just checked the policy on my Jeep and it is zero excess and the quote was definitely lower. On the caravan the excess is £75 however dropping it to zero increased the premium by about £20!

 

[otherclive]

I have just checked the policy on my Jeep and it is zero excess and the quote was definitely lower. On the caravan the excess is £75 however dropping it to zero increased the premium by about £20!

Both our cars had lower premiums for this years renewals with all insured conditions remaining the same. So it may be nothing to do with the excess.

 

[Raywood]

Any drop n the premium for a lower or zero excess has to ba a mistake by the insurer. If they do this then you are doing well but do check the paperwork to make sure it has gone through.

 

[Beachball2]

Our caravan insurance is due for a renewal in about 3 weeks

 

[Beachball2]

The caravan insurance has just come in and it £5 cheaper then last year