Insuring a Hybrid

[Roker]

have just received my insurance renewal and noted that my Hybrid is classed as Electric. I had a long discussion on the phone to tell them this was the wrong classification, I am conscious that elect may increase my insurance cost and after they went through all of their categaries they still insisted it was an Electric .
I explained as it has a engine and nothing to plug in it is a Petrol , they are going to get back to me .
Has anyone else experience this ?

[DavidTC]

I experienced a 50% increase in premiums last year. I have since come to the conclusion that insurance groups for hybrids mean nothing as I could get insurance for a new skoda octavia vrs (far more powerful and higher insurance group than our corollas) for a similar price before the increase.

[Bper]

57 minutes ago, Roker said:

have just received my insurance renewal and noted that my Hybrid is classed as Electric. I had a long discussion on the phone to tell them this was the wrong classification, I am conscious that elect may increase my insurance cost and after they went through all of their categaries they still insisted it was an Electric .
I explained as it has a engine and nothing to plug in it is a Petrol , they are going to get back to me .
Has anyone else experience this ?

Hi Dan, what was your renewal quote and how did it compare with last years.

[Cyker]

I don't recall any of my insurers listing what the power source was, usually just the reg, manufacturer and model, and occasionally the trim level.

I don't think it matters tbh... It boils down to the usual if the price they're quoting isn't acceptable, haggle them down or look elsewhere.

[Bper]

I'm starting to wonder how far these insurance premiums will go before they eventually kill the Hybrid/Electric market.

[Niky]

You made me check my policy out of curiosity and it states 1.8 petrol hybrid.  I am with Aviva - 31% premium increase on last year 

[FROSTYBALLS]

Topic moved to Insurance Discussions.

[ollie.chambers1]

I've just done the renewal on my Corolla Excel and my insurance company tried to double what I paid last year... manged to get them down to about the 50% increase which seems to be standard across the industry at the moment.

Crazy considering I've had powerful and fast cars in the past, but this is the most I've ever paid for insurance.

Out of curiosity I did a quote for a Hyundai i30N, and the insurance was about £150 less than the cheapest I could get for my Corolla (all other details were exactly the same). The Hyundai has over double the horsepower and more "gadgets" on it, despite being similarly priced when new and similar size cars. The Hyundai would be more expensive to repair in the event of an accident too.

Insurance doesn't make sense 😂

Fyi; to answer the original question, mine is listed as a hybrid on my policy document and notes the engine size too!

[Roker]

28 minutes ago, Niky said:

You made me check my policy out of curiosity and it states 1.8 petrol hybrid.  I am with Aviva - 31% premium increase on last year 

That is exactly what I have and they could not find Hybrid in their listing .

It would be difficult for me to compare prices to last year because I went from a 2005 Avensis worth about €1000 to 2020 Corolla about €26000 replacement cost

I understood that they were writing off EVs because off the price of the Battery replacement which is increasing insurance costs

[Roker]

1 hour ago, Bper said:

Hi Dan, what was your renewal quote and how did it compare with last years.

Last year €482 this year €503 with full NC Discount

[twintopp]

last year mine went up 50% , reading these posts i shudder what it will be this year, if they keep up these increases they will bite themselves on the bum because lot`s of people will just stop driving, people on low incomes pensioners etc. 

[Auris James]

I was dreading what my renewal would be on my 2 cars.

A 2015 Auris Hybrid TS Last year £507.04

AA wanted £654.00 5 years NCD. Went down to £603.49 when asked for anything better and so stayed with them. Comparison sites were from £550 but never heard of them plus cheapest quote wanted to use telematrics.

1996 Volvo 940 Estate 2.3 litre petrol. £287 last year, renewal quote £418.00!!

Comparison quote of £230, so went with it! Volvo has 11 years NCD. Not bothered how good Zenith is as if accident damaged, I'm sure it will just be written off.

Both insured Comprehensive and both covered for Business use.

James.

 

[Haliotis]

Not sure how my insurers (Tesco Bank) describe my C-HR hybrid, but the DVLA just rate it as an “alternative fuel” vehicle.

It’s questionable whether an insurer (Tesco Bank anyhow) are concerned about it being electric, hybrid or ICE.  Our S-I-L has a conventional diesel-engined car.  He is (was) also with Tesco Bank, and his last renewal quote, without any change of circumstances, shot up from £700 to £1,200.

Naturally, also being with Tesco Bank, I am concerned as to what to expect when my next (Dec 2024) renewal date approaches.  Rather than wait until I get my renewal advisement, as soon as the 30-day qualification date for getting quotes arrives I will be searching for a quote that is reasonable, and decide what to do when I get the Tesco renewal quote.   I’ll ignore any comparison sites and go direct to insurers and independent brokers.  One comparison site that mistook my renewal date has recently come up with £1,900  - which would up my current premium by over £1,000. THIEVES!!!

[Cyker]

The sad thing is I know someone paying that a year for a Ford Fiesta!

But it's actually normal because they live in Tottenham.

Even mine is up into the 800-900 area on the mainstream, up from 400-500. It's like being a new driver again!  

I'm just glad Adrian Flux was able to get me a more reasonable quote (two years running so far!)

 

[Haliotis]

On 4/9/2024 at 12:52 PM, Cyker said:

I'm just glad Adrian Flux was able to get me a more reasonable quote (two years running so far!)

Would not “a small reduction” be a more suitable term than “reasonable”?  At the current premiums demanded, reasonable is the last way I would describe them.   Let us be totally honest - car insurance companies have simply become hard-nosed, rip-off organiblockquotelockquote widget

[CPN]

Hear, hear!

[G L J]

It seems that the biggest contributing factor when it comes to insurance price is your postcode.

I paid £220 with coop insurance last year and at renewal they quoted £266.

By using a comparison site was able to find comparable cover with aviva for £234 .

I did give coop the chance to match but they would not budge on the renewal price.

All in all happy that I am only paying £14  more especially with all the horror stories of 50% and more annual increases that some forum members have been quoted.

 

[Cyker]

7 hours ago, Haliotis said:

Would not “a small reduction” be a more suitable term than “reasonable”?  At the current premiums demanded, reasonable is the last way I would describe them.   Let us be totally honest - car insurance companies have simply become hard-nosed, rip-off organisations. 

My AF premiums have been approx £200 less than what I'm getting quoted from mainstream and comparison sites, so I think 'reasonable' is a fair term under the circumstances!

7 minutes ago, G L J said:

It seems that the biggest contributing factor when it comes to insurance price is your postcode.

I paid £220 with coop insurance last year and at renewal they quoted £266.

By using a comparison site was able to find comparable cover with aviva for £234 .

I did give coop the chance to match but they would not budge on the renewal price.

All in all happy that I am only paying £14  more especially with all the horror stories of 50% and more annual increases that some forum members have been quoted.

 

Yeah this has always been the case - When me and my brother had the same car, aside from mine was 5 door and his was 3 door, the difference in insurance for me in London vs him in the middle of nowhere was something like £500!  

And it could be a lot worse - I knew people who lived in Tottenham who were paying 1200-1500 a year for Fiestas and Corsas, and that was before the price hikes!  

[rev.roger]

I have just changed a 3 year old Yaris for a 2024 Yaris. I contacted my insurance expecting a steep rise because this was a new car against a 3 year old. Both myself and the operator were more than surprised when he said that the new premium would be LESS than the old one and gave me a rebate!

[Roy124]

@rev.roger  Who was that with?

[rev.roger]

8 hours ago, Roy124 said:

@rev.roger  Who was that with?

Bank of Scotland

Fully comp, no claims bonus protection and legal £366 last August  on 2021 Yaris and £8 reduction on £25 transfer costs because the cost had decreased.

[CPN]

That is weird... I am still getting crazy prices and the one I eventually settled for Admiral (~£600) doesn't even show now!

[Cyker]

Yeah this what I try and tell people - The biggest factor is your post code, then repairability of the car. The value of the car makes surprisingly little difference. The only other major factor is if it's flagged for being a theft target or other high risk factors.

Even having claims doesn't significantly impact the premium, which is why it's self-defeating when people try and avoid going through insurance - It's probably going to go up whether you claim or not so may as well get something out of it.

My insurance has gone up more in the years I *haven't* claimed more than it has in the years I *have* claimed!  

[Rhymes with Paris]

The people I talk to who are so outraged at motor insurance increases, are completely baffled by why they are shooting up when their circumstances are the same, the car a year older, less value, the old system of it going down with the passage of time.

I reckon the reality is that the low risk insured are having to cover the higher repair costs of the claims.

Obviously the insurance companies are not going to operate at a loss.

Especially my pal Denzel,who really cannot understand why the policy on his ding dong special has gone up.

[rev.roger]

1 hour ago, Cyker said:

Yeah this what I try and tell people - The biggest factor is your post code, then repairability of the car. The value of the car makes surprisingly little difference. The only other major factor is if it's flagged for being a theft target or other high risk factors.

Even having claims doesn't significantly impact the premium, which is why it's self-defeating when people try and avoid going through insurance - It's probably going to go up whether you claim or not so may as well get something out of it.

My insurance has gone up more in the years I *haven't* claimed more than it has in the years I *have* claimed!  

Certainly, the postcode is a massive factor. Many years ago I lived in Brixton, just after the riots and it was not popular with insurance companies. mercifully my brother worked for Prudential and was able to insure himself and family members as though they lived in the heart of Cornwall. That sure reduced my premiums!