Better price on insurance?

Temujin · 22 Jun 2018 at 08:47

As others have said, you're trying to insure a high group car, in a high risk area so I'm not sure you'll get it much cheaper!

Have you tried running the quote on your parents house or something else around the country to see whether it really is London that is ramping the price up? Obviously if your parents live there too it's probably an idea to borrow a friends address or something to run a quote on instead.

Nasher · 22 Jun 2018 at 08:50

London always ramps the price up. Probably even worse now that it's slowly turning in to Detroit

energy · 22 Jun 2018 at 14:48

Chris Knott used to offer the lowest prices when I lived in North London but couldn't get anywhere close when I moved to East London....

Since then I've been with Cooperative who have been consistently quoting me in the region of £600 when all others want 850 to 900 so give Co-op a try. They also do cashback deals (50 quid ish) if booked via Top Cash Back.

Unfortunately living in E4 postcode seems to be a nicht-nicht

Psycho Sonny · 22 Jun 2018 at 15:34

akaFonzie said:
As others have said, you're trying to insure a high group car, in a high risk area so I'm not sure you'll get it much cheaper!

Have you tried running the quote on your parents house or something else around the country to see whether it really is London that is ramping the price up? Obviously if your parents live there too it's probably an idea to borrow a friends address or something to run a quote on instead.

you do know insurance quotes go on your credit history?

well obviously you don't.

so asking him to look for quotes at addresses he doesn't live at will effect his credit record.

so not exactly great advice there.

Nasher · 22 Jun 2018 at 15:41

Then you use a fake name etc as well when making quotes.

But credit history only comes in to play if your paying monthly afaik. If your paying the whole year off there and then they aren't going to care.

Psycho Sonny · 22 Jun 2018 at 15:46

Nasher said:
Then you use a fake name etc as well when making quotes.

But credit history only comes in to play if your paying monthly afaik. If your paying the whole year off there and then they aren't going to care.

yeah but what if he is needing to get a mortgage in 6 months time, etc. it will show him with history at other addresses recently and that will cause red flags when he doesn't declare any history at those addresses.

smilertoo · 22 Jun 2018 at 15:47

i'm a new driver and pay £860 to Admiral, they did fit a black box though.

energy · 22 Jun 2018 at 16:55

Psycho Sonny said:
you do know insurance quotes go on your credit history?

well obviously you don't.

Quotes from comparison sites etc should be recorded as soft searches and not visible to lenders - at least they are when I check my credit records.

Psycho Sonny · 22 Jun 2018 at 16:58

energy said:
Quotes from comparison sites etc should be recorded as soft searches and not visible to lenders - at least they are when I check my credit records.

they are visible. i've used credit searches in the past professionally. used to see multiple insurance quotes on practically every person.

Temujin · 23 Jun 2018 at 09:02

Psycho Sonny said:
they are visible. i've used credit searches in the past professionally. used to see multiple insurance quotes on practically every person.

So what you're saying is, you saw there were records of insurance quotes but you don't actually know if it will raise red flags with anyone that searches for them and really are just hypothesisng that it might?

As others have said, if required you can just make up a name, job, phone number, email address, car, etc, etc when doing a quote. What if he were going to keep the car at a separate address, e.g. at a parents? Do you think he's the only person in the UK to do so? I doubt this sort of thing would adversely affect credit reports.

But if you're the expert and it does, then apologies OP and i redact my suggestion.

Psycho Sonny · 23 Jun 2018 at 10:50

akaFonzie said:
So what you're saying is, you saw there were records of insurance quotes but you don't actually know if it will raise red flags with anyone that searches for them and really are just hypothesisng that it might?

As others have said, if required you can just make up a name, job, phone number, email address, car, etc, etc when doing a quote. What if he were going to keep the car at a separate address, e.g. at a parents? Do you think he's the only person in the UK to do so? I doubt this sort of thing would adversely affect credit reports.

But if you're the expert and it does, then apologies OP and i redact my suggestion.

You said they aren't visible. I'm telling you they are.

Also everything that makes up your credit report effects your score.

So yes they do matter.

MooMoo444 · 23 Jun 2018 at 11:01

Why is a lot of insurance quotes bad? Everyone shops around for better prices, everyone.

Temujin · 23 Jun 2018 at 11:40

Psycho Sonny said:
You said they aren't visible. I'm telling you they are.

Also everything that makes up your credit report effects your score.

So yes they do matter.

I don't think i ever stated they weren't visible as you suggest, I did say that I would think it wouldn't adversely effect your credit rating.

An insurance quote is a 'soft' search on your credit report, which leaves no footprint to anyone but the customer and the company seeking it. However, if you take out a policy it will possibly leave a 'hard' search footprint on the file (citing this link) which may be visible to other agencies that search your report. So what you are saying, according to the link and a couple of others i looked at, is likely not true.

Dr Who · 23 Jun 2018 at 11:57

I have just run a few quotes and checked my Credit Report search history and it has shown 5 Searches at my current address, it also shows all my historic quotations as well.

Psycho Sonny · 24 Jun 2018 at 09:47

MooMoo444 said:
Why is a lot of insurance quotes bad? Everyone shops around for better prices, everyone.

The fact hes advocating he does searches on addresses he doesn't live at in order to see if he can get a cheaper price.

Psycho Sonny · 24 Jun 2018 at 09:52

Dr Who said:
I have just run a few quotes and checked my Credit Report search history and it has shown 5 Searches at my current address, it also shows all my historic quotations as well.

Thank you for confirming what I knew was true.

Like I said before I have done this professionally.

They all show up. Even just asking for a quote shows up even if you never take a policy out.

Why? Because it's part of forming your address history. If you then go to bank and say ive lived at this address for 6 years and your credit report shows history at various addresses that's going to get flagged up. They may or may not question it depending on your risk score. Or they could outright refuse especially if it looks dodgy. As in you use an address for a quote which has multiple ccj's, bankruptcies, etc.

Or it's a reason for offering you a higher than normal interest rate on a loan.

FL630 · 24 Jun 2018 at 12:23

Okay, update. Admiral, they've been excellent! Their call centre really helped get it down. Ended up doing a mutli car policy combined with contents cover. Price down to £900 a year, which for London is a great price. Gone for it, car is coming on Thursday, can't wait!!

I'd highly recommend them if anyone finds themselves in the same position as me, they were great.

MichaelAwkward · 24 Jun 2018 at 19:17

Dr Who said:
I have just run a few quotes and checked my Credit Report search history and it has shown 5 Searches at my current address, it also shows all my historic quotations as well.

Yes, but only you can see them. If you now applied for a credit card, they wouldn't see any of those searches. I've got hundreds of soft searches on my credit reports - made no impact on the mortgage, loans or credit cards I've taken out over the past few years.

Dr Who · 25 Jun 2018 at 01:45

MichaelAwkward said:
Yes, but only you can see them. If you now applied for a credit card, they wouldn't see any of those searches. I've got hundreds of soft searches on my credit reports - made no impact on the mortgage, loans or credit cards I've taken out over the past few years.

It would if you used a fake address, here's the thing, anyone can see them, they are on the credit record, they don't make any difference because your credit score is high enough.

jpaul · 25 Jun 2018 at 09:16

Psycho Sonny said:
They all show up. Even just asking for a quote shows up even if you never take a policy out.

A slightly different angle -
but following recent news articles I had though requesting mutliple quotes, especially via comparison sites, and getting quotes close to renewal date may all adversely impact the premium for next quote, even making quotes under other addresses, maybe tracked unless you took care on cookies and other hardware identification
(it is like the people trying to get around bans on gambling sites because they are winning)
A quick google only gave me this, article I heard was on r4 yhou&yours

EDIT: another ref
https://www.telegraph.co.uk/finance...ers-ramp-up-premiums-days-before-renewal.html