WDB
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Posts: 7,352 
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Post by WDB on Jan 29, 2024 21:27:04 GMT
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Post by Humph on Jan 29, 2024 21:47:38 GMT
Damn, looks like I’ll never get to live that particular dream eh?
Oh well. Never mind.
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bpg
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Post by bpg on Jan 29, 2024 22:27:02 GMT
It reads as though LV= are preparing to exit the car insurance market. This statement:
LV= says: “We’re seeing an increase in theft of cars, and continue to experience trends in theft of high-value parts, such as catalytic converters, headlights, and even steering wheels, that organised gangs of thieves find very lucrative.”
It's not limited to Honda Jazz, minimum insuring any petrol car will be hit with catalytic converter claims.
The diesel market has been decimated, now it's petrol.
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Rob
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Post by Rob on Jan 29, 2024 22:46:13 GMT
A confusing thing with insurance is who is the real insurer anyway behind a brand name. For example, Flow was/is the online only brand of Liverpool Victoria (so LV=) with everything done online apart from claims but in March Flow will become Allianz. But then Allianz bought Liverpool Victoria insurance a few years ago.
If you get car insurance through Santander, then the actual insurance underwriter they use will depend on your circumstances. And it might even involve more than one insurer.
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bpg
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Posts: 2,733
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Post by bpg on Jan 30, 2024 10:17:17 GMT
There are 195 car insurance companies in the UK (2022) down from 280 (2014).
Of those 195, 10 groups account for 70.5% of the market @ £11.281bn in gross premiums written.
Those registered with MIB are the underwriters, your underwriter should be named on your policy.
As with the shrinkage in car manufacturers, the number of insurance providers will surely follow the same track.
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WDB
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Posts: 7,352
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Post by WDB on Jan 30, 2024 11:29:26 GMT
This report (other newspapers have picked it up too) says that this problem is specific to one model of Jazz from 20 years ago, whose converter is especially nickable. Not sure why that should be — easy to extract the precious metals from it? — but it’s not suggesting a systemic problem in the entire insurance industry.
I know there’s been anecdote about Toyota converters too but I’ve not read anything about those becoming uninsurable.
Rather sweet that a customer still imagines staying with one insurer for 50 years is the route to service and value.
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bpg
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Post by bpg on Jan 30, 2024 11:52:59 GMT
Didn't know about Toyota cats though I have read how easy some Lexus models are to take due to a design issue around OBDII port accessibility from outside the vehicle.
The part I quoted above appears quite generic about catalytic converters, headlights and steering wheel theft. Can't imagine demand of a steering wheel for a specific model of Jazz would be very big.
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Post by EspadaIII on Jan 30, 2024 12:34:14 GMT
LV= have been very good for us.
A child of some friends has just returned from overseas and needs some wheels temporarily. I suggested the Punto as it is spare and subject to insurance I would be willing to let him drive it. He has a UK licence and is aged 23. £35 to cover him for three months, him being the main driver and the overnight parking relocated to his home address. Can't complain for that.
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Post by Alanović on Jan 30, 2024 15:56:01 GMT
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Post by Humph on Jan 30, 2024 17:23:37 GMT
You are a very bad man!
😬
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Rob
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Posts: 2,721
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Post by Rob on Jan 30, 2024 18:10:38 GMT
Same engine as the Jeep? And of course it's built in Japan.
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Post by EspadaIII on Jan 30, 2024 18:13:23 GMT
But it's not beige or brown...
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Post by Humph on Jan 30, 2024 18:44:59 GMT
They look great in dark grey with tan leather trim. I think, not that I’ve been looking of course…👀
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Rob
Full Member
Posts: 2,721
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Post by Rob on Jan 30, 2024 21:51:48 GMT
You seem to have a thing for cars that are actually a different car. You have a Jeep that's a FIAT 500X. And now commenting on a FIAT 124 that's a Mazda MX-5.  |
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WDB
Full Member
Posts: 7,352
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Post by WDB on Jan 30, 2024 22:57:29 GMT
…not to mention the little Toyota that’s actually a Citroën— or is that the other way round?
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