Friday, 23 November 2012

Am I insuring a Bugatti Veyron?

Bugatti Veyron Super Sports
My car insurance has gone through the roof this year.  Heaven knows why.  I am (inevitably) a year older and have another years no claims under my belt.

You can see a lovely picture of my new car on the left.  It's a snip to buy at $2.4 million.  Dream on.

As much as I wish I did, I do not drive this, an Aston Martin, Lambourgini or Ferrari.  I drive a SAAB 9-5. Not even a new one at that.

I was shocked when my insurance renewal came through. It had gone up from £252 last year to £704 this year. WTF?  When I queried this, thinking that perhaps they had misread SAAB for Rolls Royce, they simply said I had an 'introductory discount for being a new customer' last year. Thanks for that. I'll leave you this year and come back as a new customer in a couple of years time then.

So, off I trundle to my favourite place - the home of the Meerkat - and get some quotes.  It was hard to find a quote in the first 30 or so that was even close to the renewal cost so I was delighted to tell my current company to push off and I'd buy online nearer the time.

Today was nearer the time so away I click to buy the cheapest insurance from Sheila's Wheels.  Well, it seems that Sheila does not want to insure my wheels when I get to the checkout.  A message comes up - quite rude really - saying that based upon the information I have provided, they cannot provide me with insurance and if I have come via a comparison site, please find another insurer to use and do not call us.  Wow, thanks for that. Did I offend them by using the Meerkats?  If so, why are they on there in the first place?  Baffling.

So, slightly aggrieved, I go back to get the next price up. As it's only a few pounds different, I'm not too bothered.  Make my selections for additional things I want and click buy.  Tilt!  Sorry, they cannot insure me based upon the information provided.  What?  I'm confused. Okay, let's try again but just taking their preferred selections (a bit more expensive but only a few pounds so who cares) into account and buy. Nope.  Sod off it said.  It didn't really but it was close. Pretty much we aren't interested in insuring you despite giving you a quote so please try elsewhere.

By the time I've reached the fifth rejection, I am getting more than a little worried.  What could be the problem? They all quoted when I input my details.  There were a list of insurers who would not provide quotes with reasons beside them, mostly for type of vehicle which made me wonder.

So, it turns out that having a SAAB is a major problem since they went bankrupt.  A few insurers I have spoken to (those not on comparison sites) explained to me that they either refuse to insure SAAB at all or load the premium for insurance as they consider that parts will become scarce and labour will be expensive for any work that needs doing.

So, I finally managed to find an insurer to take my SAAB. I'm pleased to say still at less than half of what my previous insurer wanted at renewal but the excesses mean that the car would most likely be a write-off for any minor prang.  That's how it goes I suppose but somehow it feels less than fair.

Next year I'm getting rid of the SAAB and buying myself a Volvo!

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