Insurance issues

[damawe63]

Hi all,
Am trying to get reasonably priced insurance quotes for the entry level F type that is scheduled for delivery October sometime. Have tried the 3 companies recommended from the JEC, they came back as £1800, nearly £700 and the 3rd didn't seem to insure cars over 30k. An online search for equivalent cover instantly resulted in quotes < £400 although I didn't recognise the companies listed.
I'd hoped all of the big 3 JEC recommended insurers would have offered competitive quotes for modern Jaguars so I could chose one with confidence knowing I would get a good deal with a company that's respected nationally. Anyone else have experience like this or have any ideas where else to try?
Thanks, dave

[aaj]

Dave

The issue over insuring modern Jaguars through the Insurers associated with the Club came up at either the last AGM or the one before.

The answer was that the (2 at the time) Insurers specialised in Classic Insurance and that the Club was seeking a solution for Modern Vehicles. I assume the 3rd Insurer is the solution found.

Allan J

[damawe63]

Thanks Allan,
That does kind of fit in with the quotes or lack of quotes but they all seem to advertise that they cover modern as well as classics .... shame though as it is a Jaguar that I'm trying to insure after all.

[PaulGover]

For a brand-new high-performance sports car, you'd do best to try extensively - comparison web sites, Lloyds brokers (in my experience some years ago, particularly good) and probably all those ones who advertise on TV as not being on comparison sites. Note that Direct Line and Churchill are both owned by RBS. Sheila's Wheels is also the same as another major chain, but I forget which.

Different insurers have different rates because their actuaries analyse their claims data according to different factors (typically age of driver, postcode, insurance rating of car, but importantly other things that affect the car - repair costs, accident rates - and their target market - so for typical JEC members, restricted mileage, probably stereotypical drivers (think James May rather than Jeremy Clarkson) and so forth). Venturing out of their comfort level will almost always prove expensive

With something brand new like an Ftype, it's bound to be out of the ordinary business, and the actuaries will be making guesses. There will be big savings from shopping around. My experience with non-classics suggests LV= and (if applicable) Saga can be good, but I've not had something brand new to insure.

[damawe63]

Thanks for that excellent analysis Paul....since my original post, I tried Tesco and got what I thought was an excellent quote of about 350, can't really argue with that as it was for both myself and my other half albeit with a limited annual limit of 6000 miles. The only aspect I don't quite get, and I'm not complaining, is how can Tesco offer a policy for half the cost of to that from the specialist JEC insurers?
At least I can now relax a little knowing that in a month or so, I can afford the insurance, just the petrol now cheers, dave

[Montana5]

Dave...Just to show how fickle Insurance is, when I went to renew my (then 10 year old) STR, of the 6 quotes I got by phone, Tesco were the most expensive at £1127, Footman James through the JEC were £305. I would advise you to phone the JEC Head office Insurance Dept and tell them your predicament, they might be able to put some pressure on the JEC recommended insurance companies, could just be that the F Type is so new that negotiating discounts have not yet been discussed.

Doug.

I know you may have seen this on the other forum, I have copied to here in the hope that James or Rob might be able to offer some advice.

[damawe63]

Thanks for your thoughts on that Doug, I've got a month I think before I need to get insurance so plenty of time to make a few more phone calls, I think I'd prefer a JEC recommended company if possible, would I pay double for the privilege, not sure, maybe it makes sense rather than take a chance with a non specialist provider. One again, thanks for all suggestions, dave

[raysearles]

Dave

Make sure you check through all the details of your Tesco policy; it could be you have fallen neatly into a target "demographic" that they are currently looking to sign up, hence the decent price, though that money for a brand new 60k sports car seems very competitive.

My experience is that your renewal premium next year will be 20-50% higher than this year - ALL the big names offer lower price deals on entry in the hope that you cannot be bothered to do the market search again next year, there are plenty of blogs to this effect on sites like moneysavingexpert.com.
Sadly the insurance industry in the UK no longer rewards loyalty and I have changed my daily driver insurer 3 times in the last 4 years as a result - each time shaving over 100 squid off the offered renewal.

As Paul said above for a car as new as the F Type it is unlikely the JEC recommended brokers will be able to be as competitive as a larger company - the only thing to remember is that whilst their premiums may be higher the chances are that in the event of a problem their service will be far superior - but that's the business of risk. Peter James Insurance on our panel gets lots of praise from members, (including me) for the way they have handled claims, but of course if you make no claims you just end up paying more for your insurance! Heads you win and tails...so it all comes down to your attitude to risk and where you are planning to drive........not forgetting the other idiots on the road at the same time as you!! Enjoy the F Type when it arrives....

Oh and beware - I have found as well that if you delay a couple of weeks to sign up the premium has been increased whilst you have been delaying, this happened to both my sons recently - it appears to me that either they reassess their "risk book" - like a bookie does with horses when they get too many bets on a favourite - or they get their quota of new business and then cease to discount quite as hard....

Cheers

[damawe63]

Thanks for all those good thoughts on insurance Ray. I feel much more informed now. I'm thinking now that the Tesco and cheaper quotes really may be a false economy and that paying a few hundred pounds with a respected JEC recommended company definitely makes more sense. I think the delivery date for our car is next month sometime, not sure how accurate Jaguar build/delivery dates are, so plenty of time to phone around still, quotes are only valid for a month so guess I'll be doing most of this towards the end of the month. Cheers to all who have provided advice on this forum, regards, dave

[dhdove]

Dave

Sorry to tag on the end of your thread but please don't assume that insurers like Tesco will give an inferior service......I would check all their small print.....why pay more? After all they are ALL slippery customers.....

TonyS

[colingray]

Just in case anyone peeks at this thread as it has been quiet for some time I will add my recent experience as I insured my car just a few weeks ago.
I tried all the usual comparison sites and even had a quote for extending the 7 day jaguar complimentary insurance which is underwritten by Aviva.
After sifting the many quotes for a 55 year old with no bonus to add, as its an additional car to the household. For a 2015 5.0s F type prices ranged from £2,000 from Jaguar to a very reasonable £600 from comparison sites (I always put in no voluntary excess as it seems to get cheaper quotes) so that may be worth trying if you are adding voluntary excess.
I eventually decided to try some companies that do not come up on comparison sites, most were around £1,000 to £600.
I then tried Aviva insurance (who underwrite the Jaguar insurance) and received a quote of just £360.00!!!!
I was so Amazed I stopped looking for quotes double checked with Aviva this was not a mistake which it was not and took out the insurance adding comprehensive European cover for £20, this is in the hope I can get Mrs G to come on a foreign trip in the beast sometime.

[mike020150]

Just reinforcing the point about the constant need to chop and change insurers and not assume their prices, relative to one another or by buying direct, remain the same I used to be with Aviva because they were the cheapest for my XK. Then, I found Swinton offered a better deal still with Aviva and recently, I was amazed to be quoted a great price (just over £400) by Jaguar Insurance for my 2014 XKR. Guess who is behind Jaguar Insurance? Aviva. Mike.