Motor Insurance

[anotheoldgit]

Can anyone tell me why the length of time one has owned a motor car has any effect on the premium one has to pay?

I have been told by my insurer that because I have owned my car 5 years less than the length of time on the renewal document, I need to pay approx. £50 extra.

[factor-fiction]

It maybe the value of the car that is relevant and that is linked to its age

[anotheoldgit]

factor-fiction

Yes the age of the car will always have an effect on the premium, but surely not the length of time one has owned the said car.

[jd_1984]

In my experience they will look to increase policy costs for any tiny detail.
Somewhere I am sure you will find the justification that some smart alec has devised to justify this.

[TWR]

Tell them to stick their Insurance where the Sun does not shine AOG these Dick Turpin robbers need looking into.

[anotheoldgit]

TWR

I did and found one much cheaper along with more benefits.

[factor-fiction]

>Yes the age of the car will always have an effect on the premium, but surely not the length of time one has owned the said car.
I was wondering whether they had used the age of the car to estimate its value.
I'm not sure how they came to have such a big error for the age of the car.
Anyway, it all worked out for the best as it prompted you to shop around

[Ellipsis]

It's probably to cover the cost of them having to amend your policy to put the correct details on, rather than the cost of the insurance itself ...

[soapnumpty]

I work in insurance and how long you have owned your car has no bearing on your premium. It will be based on the vehicle, you age and experience, claims, driving convictions, how many miles you do, and what cover you require, ie comprehensive, third party etc.

[Hymie]

At least Dick Turpin used to wear a mask!

[ToraToraTora]

hit the comparisons sites annually it's the only way. They'll take th *** if you let them.Loyalty is punished not rewarded.