Should I be wary

[Al n Val]

So as some may know already i've ordered a brand new Rapido i1090 Distinction motorhome, its provisionally booked for handover jan 5th 2022 so it can be registered as a 2022 year.

I'm currently insured and have been for 3 years with LV on a multi vehicle policy, the Comanche and a 320D BMW.

So i'm tinkering away sorting things out and decided to get a quote from LV for the new motorhome, the young lady was extremely helpful and gave me this advice, "btw I can get the new one on the 17th Nov but prefer to wait until 2022 but this is the date we/she worked on".

So if i sell my Comanche before I get the new one I have to inform them before 15 days so they can uninsure it, this is at an admin cost of £15, so i'm fine with that.

Then I was shocked to hear that when I want to insure the new one, and we did go through all the value's and what have you, that the new Rapido insurance policy will increase by..................... wait for it.

£4.91 from what i'm paying now.

Should I be worried or would you just advise me to get on with it bearing in mind the new one has increased in value by nearly £60k to £134k, when I mentioned this she told me that LV, for the first year just insure it for what I paid for it and i'd get full valuation replacement.

Al

talk about confused.com

 

[funflair]

Maybe it's all relative to what you are paying now, by that I mean is it already expensive?

 

[Al n Val]

Maybe it's all relative to what you are paying now, by that I mean is it already expensive?

I suppose I should have put what i'm paying now

for both vehicles, fully comp, 2 named drivers, with every box ticked inc legal cover its just about £650.00

What would everyone expect to pay for a brand new motorhome costing £134k with the same cover, i'm just wary that its too cheap tbh, the motorhome on its own without breakdown cover was more or less £300

Al

 

[funflair]

I suppose I should have put what i'm paying now

for both vehicles, fully comp, 2 named drivers, with every box ticked inc legal cover its just about £650.00

What would everyone expect to pay for a brand new motorhome costing £134k with the same cover, i'm just wary that its too cheap tbh, the motorhome on its own without breakdown cover was more or less £300

Al

It is certainly "competitively priced" is windscreen cover adequate assuming the new one is an A class?

 

[TheBig1]

the various ways that insurance companies calculate risk and policy premiums is a very dark art, based on complicated algorithms. What you do need to know is that the law has changed and all new policies and existing customers must be treated and charged equally starting very soon. This may mean the quote this year may be cheaper or more expensive next year due to the level playing field. If you can get your quote agreed and in writing now for a new vehicle next year by one of the big companies, I would grab it with both hands. The brokers that I have spoken to expect all prices to rise, with no option of an introductory offer for new business

New vans are a better risk than used because of increased security and people take far more care of their new, very expensive purchase

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[Al n Val]

It is certainly "competitively priced" is windscreen cover adequate assuming the new one is an A class?

Ah tbh Martin that was not even discussed, she just wanted to point out that in the first year it was new for old so thats what i'll be asking when the time comes to insure it.

thank you for pointing it out and yes it is an A Class btw

Al

 

[Al n Val]

the various ways that insurance companies calculate risk and policy premiums is a very dark art, based on complicated algorithms. What you do need to know is that the law has changed and all new policies and existing customers must be treated and charged equally starting very soon. This may mean the quote this year may be cheaper or more expensive next year due to the level playing field. If you can get your quote agreed and in writing now for a new vehicle next year by one of the big companies, I would grab it with both hands. The brokers that I have spoken to expect all prices to rise, with no option of an introductory offer for new business

New vans are a better risk than used because of increased security and people take far more care of their new, very expensive purchase

yes things are changing but I was unaware of what you say regarding the changes with insurance, hopefully like everything else, insurance will not rise dramatically as other things are doing, thanks for the heads up btw

I'm more concerned that to change it over I was told that it would only cost an extra £4.91 when the value as increased by very nearly £60k, I even told her I was concerned and surprised, but she wasn't apparently.

Al

 

[TheBig1]

Our current motorhome is the most valuable we have owned, but the premiums considerably less. Something to do with being able to afford such an expensive vehicle puts you as less of a risk. Starter vans as I would term them, being cheaper to buy, attracts a different sort of owner, who is likely to be a higher risk.

 

[Al n Val]

Our current motorhome is the most valuable we have owned, but the premiums considerably less. Something to do with being able to afford such an expensive vehicle puts you as less of a risk. Starter vans as I would term them, being cheaper to buy, attracts a different sort of owner, who is likely to be a higher risk.

point taken