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Had an existing policy with Admiral for my 2001 VW Golf.
Sold it and purchased a 2007 VW Golf newer model but same engine size.
Still have 2 months of existing policy to run so contacted them to give new details and was told that there would be an additional premium to pay of £83 plus an admin
charge of £19.50 ?
When I asked why the increase, I was told that it was due to the fact that it was a new car and that I was not use to driving it ?
Now I have been driving for more than 30+ years, have a clean license and 21+ years no claims. I decided to pay the extra premium as I didn't want to incur anymore costs due to cancelling the policy but advised that I will be reconsidering at renewal.
I requested a fuller explanation in writing in which was received today.
They further explain that they rate premiums on car grouping, value, year of purchase and year of make / model.
Then they quote :-
"The main cause of is the year the car was purchased. Our claims statistics have shown this is an important factor. The claims statistics show the longer a person has owned and driven a particular car, the better risk they are ? The trends show the first year in a new car is the most risky. This could be because you may still be getting used to the car.
Even though your new car is the same make / model and grouping as your previous car, the type and market value of the car is different."
Ok I do accept that the value has increased by about £1,500 but how can they justify such a large increase and also charge an admin fee ?
Has anyone recently been given the same explanation as it is the first that I have heard of this ?
Thanks for looking
Sold it and purchased a 2007 VW Golf newer model but same engine size.
Still have 2 months of existing policy to run so contacted them to give new details and was told that there would be an additional premium to pay of £83 plus an admin
charge of £19.50 ?When I asked why the increase, I was told that it was due to the fact that it was a new car and that I was not use to driving it ?
Now I have been driving for more than 30+ years, have a clean license and 21+ years no claims. I decided to pay the extra premium as I didn't want to incur anymore costs due to cancelling the policy but advised that I will be reconsidering at renewal.
I requested a fuller explanation in writing in which was received today.
They further explain that they rate premiums on car grouping, value, year of purchase and year of make / model.
Then they quote :-
"The main cause of is the year the car was purchased. Our claims statistics have shown this is an important factor. The claims statistics show the longer a person has owned and driven a particular car, the better risk they are ? The trends show the first year in a new car is the most risky. This could be because you may still be getting used to the car.
Even though your new car is the same make / model and grouping as your previous car, the type and market value of the car is different."
Ok I do accept that the value has increased by about £1,500 but how can they justify such a large increase and also charge an admin
fee ? Has anyone recently been given the same explanation as it is the first that I have heard of this ?
Thanks for looking
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