Insuring new van .........HOW MUCH !!!!

Discussion in 'Motorhome Insurance General Discussion' started by Chockswahay, Jun 25, 2018.

  1. Minxy Girl

    Minxy Girl Funster Life Member

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    Sound like you are telling them too much! At the time you take out the insurance you ARE a pilot ... stop telling them about what you're 'going' to do rather than what you are currently doing ... and only let them have the info they need, nothing more.
     
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  2. Nigel L

    Nigel L Funster

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    Try LV (Liverpool Victoria).
    Have always found them very competitive, both for Car and MH
     
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  3. MH 55 FUN

    MH 55 FUN Funster

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    In every insurance policy I've ever taken out, somewhere in the small print there's always a clause stating that any failure to disclose material facts could affect the policy & occupation is one of them, of course @Chockswahay is employed as a pilot now & no doubt this premium quote takes into account his employment status, however once he retires his status changes, which may or may not affect his Moho premium, but any failure to disclose his new status of retired may invalidate any claim he may have in future.

    I'd suggest this premium of £800 is being loaded because the insurance company are reflecting the extra risk of his fulltiming status in their opinion.

    For comparison our modest £35k Moho's insurance is £195 per year fully comp.
     
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  4. Minxy Girl

    Minxy Girl Funster Life Member

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    ... but you can't insure based on what the customer may do in the future ... he may suddenly decide he's made a big mistake and continue flying ... he may not rent his place out ... you can only insure on certainties now ... the only thing I believe the company would be really interested in is if he went full-time when taking out a 'holiday' policy ...
     
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  5. Chockswahay

    Chockswahay Funster

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    interesting thoughts peeps, however, ANY change in circumstance whether planned or not MUST be reported to the insurers. So I can indeed insure 'as is' now but when i finish work I must inform them and when I rent the house out I 'probably should' inform them. It is indeed a hornets nest.
     
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  6. MH 55 FUN

    MH 55 FUN Funster

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    I agree, insurance companies need the truth regarding material facts as it's stands at time of policy quote / implementation, which is reflected in the quote at that time, what I'm suggesting is that should his plans to retire & fulltime for however long come to fruition, as seems to be his wish, these new facts need to be disclosed to the insurance company, so his future premium is likely be whatever he's already been quoted, albeit possibly less whilst not fulltiming & not retired in the meantime.

    Also, we all know that some insurance companies are very keen to charge an admin' fee to change the details of a policy.
     
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  7. Minxy Girl

    Minxy Girl Funster Life Member

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    True, but I think he's still giving them tooooooooooooo much info ... getting all excited telling them of his plans etc (yes we know you @Chockswahay! :D) best to decide if he IS going to be full-timing or just travelling for a few months ... not everyone rents their home out for over a year ... quite a difference ... especially if he then has another place as his permanent abode ...
     
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  8. Chockswahay

    Chockswahay Funster

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    haha true Minxy, and we will be only be inbetween houses for a while :D2
     
  9. Minxy Girl

    Minxy Girl Funster Life Member

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    So, re-think what you're actually GOING to do ... at the moment you haven't rented out your house, so do you actually need/want to? Are you going to keep it as a rental property when you buy another to live in (extra Stamp Duty if you do!), or will you be selling it ... if so then why not do so now and save all the hassle ... you'll then be a cash buyer ...
     
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  10. scotjimland

    scotjimland Funster Life Member

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    the only person who can decide the information "they need' is the insurer or broker.

    just because they don't ask the question, doesn't mean they don't "need to know" .. not being fully honest is called "Non Disclosure "

    in the event of a claim, non discloser of any pertinent facts that may result in the policy being void.. it doesn't pay to be frugal with the truth.

    Also, once you have mentioned that word "full-time" it will be on your insurance history for other brokers to access..
     
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  11. BreweryDave

    BreweryDave Funster Life Member

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    Insurance is really really really simple..............tell the broker the truth, let them assess if you need a FT policy or not, pay the appropriate premium, otherwise you might as well not bother insuring at all as cover based on anything but the whole truth will be invalidated if you had to claim. It’s that simple......really really simple;)
     
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  12. Neilfg

    Neilfg Funster

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    We just got insurance from a not too dis-similar perspective stated that we will be selling house and then 3 months before we move in to new house, using relatives address for the interim, but Aviva policy stated you need to be on the electoral roll or have a 9 month tenancy agreement otherwise you are classed as No Fixed Abode and need a Full Timing policy which takes costs to about 100 per month. Some brokers stated it should be fine not to have full timing policy for a short period but when asked to put it in writing they declined and actually said even if just for one week your policy could be void if not notified and switched to full time.
     
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  13. Minxy Girl

    Minxy Girl Funster Life Member

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    Not disputing that but I think he's getting 'carried away' (over excited? :D) with it all and he's telling them a lot more ... but that's just my 'feeling' about it.
     
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  14. gus-lopez

    gus-lopez Funster

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    It is not until you live abroad that you realise how cheap UK vehicle insurance is. 800/year is new vehicle full comp money with 35 years ncb :(
     
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  15. Minxy Girl

    Minxy Girl Funster Life Member

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    Why IS it so expensive there? Are you all cr@p drivers ... :imoutahere:
     
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  16. peterc10

    peterc10 Funster

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    Just had my renewal notice from Comfort and my premium has been reduced from £540 to £522 on my 2015 Hymer B678. That is for 25,000 miles per year with full UK and Europe breakdown. It has 3 years new for old cover but that is no good for me because it is only up to a a total mileage of 15,000, and I am well over that now.

    I spent a long time searching last year and Comfort were by far the cheapest. They required me to fit a Cat 5 or 6 Tracker, but even taking the cost of the fitting and first year's subscription into account they were still cheaper than any of the others including my previous insurer Safeguard, who wanted close to £1,000! The C&CC wanted over £2,000 and the CMC were only a bit lkower than that.

    I don't think I will bother wasting my time phoning around for other quotes this year!
     
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  17. Rob Hammond

    Rob Hammond Funster

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    In the big scheme of things £600/£800 for a motor worth £57k is not overtly expensive considering the risks of full timing ,just a thought :)
     
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  18. BreweryDave

    BreweryDave Funster Life Member

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    I agree with the first part, but not the second re risks Re fulltiming.

    Ok, so you’re using the van 100% of the time, but so do many others who retain a home, there are many 365 days policy’s. ( for European travel)
    The ONLY difference is you don’t have a home for your exclusive use whenever you want it.....BUT, a FT policy does NOT provide you with accomodation should your van be off the road, and you are much more likely to be cautious and take more care when FT because if you have a problem, you have a big one! In fact, you get NOTHING extra from a ‘normal’ policy except the peace of mind that you are covered. So imho the risks should be less, but the premium is vastly increased, it is certainly a rip off, but sadly one I have to pay for.

    That said, it works out around a fiver per day, for a £70+k van, with full EU cover inc breakdown and unlimited mileage, and I don’t pay council tax or utility bills anywhere, so in the great scheme of things not so bad.
     
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  19. tacr2man

    tacr2man Banned

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    NFU are either very good or wont even cover , very dependent on postcode (even more so than all ins co's ) I have 5 vehicles with them , and have found them very good over the years. I still compare meerkats , just to "keep em honest" , but when you factor in their pluses it pays to stay with them . Forget about m/cycles with them !!! Being a Mutual , you get bonus deduction on renewal.
    £276 this time for me :) So RV is in effect free almost !!!
     
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  20. The Wino

    The Wino Funster

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    I don't think less than 57k necessarily means its an old banger!!!!!
     
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