# Policy is cheaper without compulsory excess ..



## enc (Jan 25, 2006)

Yes thst is correct…my new annual insurance policy is £3.75 less as I opted for zero voluntary excess. 
Thought it must be a system error but everything has gone through ok

How’s that work then ?

Pics to follow.


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## percymon (Jun 27, 2007)

The world of insurance quotes is black magic. My son just passed his test so had to move to a full license insurance, it was cheaper for him on his own than adding family members with 35+ years driving experience and no claims or convictions.

There is an interesting tool on MSE about job title and alternative job titles and how they might affect premiums - for me the difference between Product Manager and Technical Manager is about 20% !


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## grunty-motor (Aug 11, 2016)

i've noticed this too. 

I assumed it was a statistical thing whereby the higher risk drivers add excess to reduce the premiums. Most policies default with some vol. excess and so hardly anyone goes with no excess. It then returns a lower premium because there is less data available to identify the risk.


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## Shiny (Apr 23, 2007)

I'm sure it can only be a programming anomaly. It makes no sense otherwise. A voluntary excess reduces the cost any own damage claim by that amount, so it can only be a factor that improves a risk. 

I gave up understanding the underwriting behind quote engines years ago. If you have a termed vehicle, it may be a compulsory requirement that a vehicle is garaged, yet some insurers charge more if a vehicle is garaged on the basis it could be targeted. I really don't get it.


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## enc (Jan 25, 2006)

here ya go ...


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## andy665 (Nov 1, 2005)

So many strange things happen, I checked a few weeks ago on an upcoming renewal, changing the "Insurance needs to start in xx days" by just a few days changed the prices by up to 20% 

Its definitely cheapest taking out a new policy 21-23 days before commencement date - been using this for years and always check it still holds true


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## Shiny (Apr 23, 2007)

andy665 said:


> So many strange things happen, I checked a few weeks ago on an upcoming renewal, changing the "Insurance needs to start in xx days" by just a few days changed the prices by up to 20%
> 
> Its definitely cheapest taking out a new policy 21-23 days before commencement date - been using this for years and always check it still holds true


The logic behind this is that their stats show that people that buy at the last minute have higher claims stats than those who prepare for their renewal in good time.

This doesn't reflect well on those who take out a policy on short notice because they have just bought a car etc

It used to be easy in the good old days, i used to know the base rate of a handful of insurance companies rating guides (based on area and the 7 group ratings) and then deduct the few rating factors - age of vehicle, driving discount, use loading, NCB, protected NCB loading. And that was the rate :lol:

Now it appears shoe size and how often you change your underpants all have a factor in premium rating!


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## enc (Jan 25, 2006)

Cash I saved on changing internet provider has paid for this years policy.


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## enc (Jan 25, 2006)

andy665 said:


> So many strange things happen, I checked a few weeks ago on an upcoming renewal, changing the "Insurance needs to start in xx days" by just a few days changed the prices by up to 20%
> 
> Its definitely cheapest taking out a new policy 21-23 days before commencement date - been using this for years and always check it still holds true


Yep, always do it 3 -4 weeks in advance. 
Policy was cheap enough to pay cash one off rather than monthly … another 40 odd quid saved. There are some advantages to running an old horse :lol:


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## SarahAnn (Apr 6, 2011)

enc said:


> Yep, always do it 3 -4 weeks in advance.
> Policy was cheap enough to pay cash one off rather than monthly … another 40 odd quid saved. There are some advantages to running an old horse :lol:


I don't run an old horse but I am the old horse :lol:
I've been with Hastings for years but mine is due at the end of March and they couldn't match Saga so I've changed to them.
I'm so old I'm with Saga insurance now from the end of March. It was half the amount of other insurers.


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