Car Insurance (RAV4 - MY22)

[R4VA_K]

Morning All, 

Has anyone noticed that the RAV4 (MY22) is hard to insurance recently? My preimum quotes have sky rocketed from just under 500(last year) to 800-1000. Directline pointblank refused to offer me a quote because of it being a RAV4.

Did I miss something are they being stolen more or something that I cant think off? 

For context I am in a fairly low crime area and have 12 years no claims. 

Whats really really confusing is on comparethemarket if I change my no claims from 12 to 2 years it actualys becomes cheaper by around £50...

[nlee]

Mine had a price hike of around 33% last March (to just over £500), but the renewal this year (due this month) has actually decreased by about 10%. So still a net increase over 2 years but not too much more than 2 years of high inflation. The compulsory excess did go up by £50 though. I'm with Flow insurance (basically LV, but online only)

[Bper]

Hi Kerim,there are a few possibilities for Higher RAV4 Insurance,Increased theft Rates,while you haven't noticed a rise in crime, it's possible there's been a national or regional rise in RAV4 thefts. Insurers base rates on statistics, so a local spike could affect premiums.

Newer RAV4 models might have advanced safety features or expensive parts that push up repair costs after an accident. This translates to higher potential payouts for insurers, reflected in the premium.

RAV4s are also popular with young families. Though you have a good NCD, statistically, these demographics might have higher claims, influencing the base rate.

Unfortunately as most of us have seen over the last few years the cost of renewal premiums has rocketed for many motorists especially on the newer vehicles.The only way seems to shop around for the best prices. 

You are entitled to phone Directline back and ask why they are refusing to quote,they may give you the reason.

 

[Corollanutter]

Its not only the RAV4 - my Corolla went from £311 last year to £526 this year - a 70% hike. Managed to change insurers, however it is still a 45% hike on last year. 

[FROSTYBALLS]

Insurance, whether car or house, has been subject to high percentage increases generally.

[ColinB]

My RAV4 insurance went from £350 in Dec 22 to £630 in Dec 23, I did manage to shop around and reduce this to £530 but, as Frostyballs says, this is well known across all insurances. 

Colin 

[philip42h]

1 hour ago, R4VA_K said:

Did I miss something are they being stolen more ... ?

Did you miss this thread?

But as other have said, it is probably more to do with a general increase in insurance costs. This article from Confused (January 2024) suggests that "The cost of car insurance has increased by 58% over the past 12 months."

[R4VA_K]

Cheers guys lots of valid points that has helped me understand the situation. 

I phoned up a couple of places and got better quotes of around £700. I have a month left till that goes live so I will keep searching just in case. 

[Flatcoat]

Insurance companies use dynamic pricing so any quotes will increase on an almost daily basis. The optimum time to accept a new provider quite is about 4 weeks prior to renewal date. You could also try phoning your existing insurer to see if there is a deal to be done. 

[ROCKETRON]

I have been with LV+ for quite a few years but they have informed me that they can’t renew my policy from 1st April due to a combination of postcode and RAV4 as they say that they get too many theft claims and the cost is just too high to offer a reasonable premium. It looks like I will have to end up paying around £1000-1400 for an inferior insurance policy, when before covid I was paying around £400 but it’s been gradually increasing ever since. I thought of selling the car but I like it and it probably won’t fetch much in London if people can’t insure it. 

[ToyotaFanDriver]

Its not just about the RAV4, the insurance industry continues to rip people off, plead poverty and then report high profits/dividends. Best advice is to shop around and not be loyal to any one company.

[DAN@ADRIAN FLUX]

Hi.

Please feel free to give us a try for insurance if you haven't done so already.

Regards,

Dan.

[Shootgun]

On 3/12/2024 at 8:11 PM, DAN@ADRIAN FLUX said:

Hi.

Please feel free to give us a try for insurance if you haven't done so already.

Regards,

Dan.

£2096.15 with 17 years no claim bonus and £1375 compulsory excess... rip off

[Flatcoat]

They must think April 1st came early…. 

[MC1216]

1 hour ago, Shootgun said:

£2096.15 with 17 years no claim bonus and £1375 compulsory excess... rip off

Who is that with...Adrian Flux

[Shootgun]

22 minutes ago, MC1216 said:

Who is that with...Adrian Flux

yes

[ROCKETRON]

On 3/12/2024 at 7:39 PM, ROCKETRON said:

I have been with LV+ for quite a few years but they have informed me that they can’t renew my policy from 1st April due to a combination of postcode and RAV4 as they say that they get too many theft claims and the cost is just too high to offer a reasonable premium. It looks like I will have to end up paying around £1000-1400 for an inferior insurance policy, when before covid I was paying around £400 but it’s been gradually increasing ever since. I thought of selling the car but I like it and it probably won’t fetch much in London if people can’t insure it. 

I finally got a policy with AXA+ but had to pay nearly£1200, with a reasonable excess. I could have had a cheaper premium but from companies that you have never heard of and with huge excesses. (Go skippy, marmalade). Only time will tell if AXA+ are any good but policy doesn’t kick in until 1st April.

[ernieb]

Just spoke to my neighbour who has a Tesla and his went fro £1200 to £2800 with and increased excess. Having checked around he felt that was the best he was going to get. I’ve no idea who he’s with just got the best value available. 

[kucyk]

2 hours ago, ernieb said:

Just spoke to my neighbour who has a Tesla and his went fro £1200 to £2800 with and increased excess. Having checked around he felt that was the best he was going to get. I’ve no idea who he’s with just got the best value available. 

More of these Teslas and other electric cars on the roads, higher rates for everyone. Even a minor incident can result in a total loss, nobody repairs them. And even If you do, you will be paying a hefty amount. If you thought dealer prices were high, check out Tesla's world. Basic stuff like bumper replacement can go up to a couple of thousands. Electric cars are a huge cost to insurance companies, and guess who's paying for that ...

[FROSTYBALLS]

Topic moved to Insurance Discussions.

[DAN@ADRIAN FLUX]

On 3/16/2024 at 7:17 AM, Shootgun said:

£2096.15 with 17 years no claim bonus and £1375 compulsory excess... rip off

Hi.

I'm sorry we were unable to offer you a competitive insurance quotation.

Regards,

Dan.