# Admiral Multicar Policy



## PaulN (Jan 17, 2008)

Hi All,

Just sorting my Z4s Insurance and around the £526 ish mark. Rang Admiral who bettered it to £500 but said try a mulicar policy.

Well with the 3 cars 1 due now and 2 in november i would save £460!!!!!! 

Now im all for saving money but not if theres a catch. Anyone no of this as ive heard nothing but bad stories during claims and the next year claim or not the price goes up 40% ish... Im happy to move again though.

Anyway the most important question is have they priced up a part year from November to July on my other 2 cars so they then all fall in july hence making the price seem cheaper than it actually is?

Im going to speak to them but the more i think the more it seems as though this is the case.

Thanks for any advice as i need to make a move on this today.

Cheers

PaulN


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## McClane (Dec 9, 2010)

PaulN said:


> Hi All,
> 
> Just sorting my Z4s Insurance and around the £526 ish mark. Rang Admiral who bettered it to £500 but said try a mulicar policy.
> 
> ...


Not too sure... in the same boat myself, but the 2nd car is SWMBO's which has 11 months to run (she's with them already)... If you own them all, I'd say happy days... I'm trying to work out if its worth having a joint policy with OH, as I'd want to check if she crashes, does my no claims get hit, etc.


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## PaulN (Jan 17, 2008)

Your NCB doesnt get effected as they are 3 policys your just getting a good deal as they are all together.


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## Maggi200 (Aug 21, 2009)

So if the cars are due in november and they never guarantee prices for longer than 31 days... what's to stop them going up once they've got you to agree to insure with them? They did this with us, we waited and then when it came to it the price was much higher than quoted due to the gap.


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## Fozzer (Jul 19, 2011)

I'm with admiral and the way you get the discount is by promising to bring the other cars over at the date of renewal. But mine has increased by over £100 this year, 

Sent from my Desire HD using Tapatalk


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## PaulN (Jan 17, 2008)

maggi133 said:


> So if the cars are due in november and they never guarantee prices for longer than 31 days... what's to stop them going up once they've got you to agree to insure with them? They did this with us, we waited and then when it came to it the price was much higher than quoted due to the gap.


Im lead to believe this price is indeed Guaranteed till November.

Well ive spoke to them again:

My other 2 cars are indeed part year so by dividing the new price by the amount of months insured i can work out the true years cost which was pretty close to what they said too.

Instead of £460 im saving £234.......

Still a good saving but ive asked my current company who have all 3 to estimate any extra savings for the 2 due in November.

Cheers

PaulN


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## PaulN (Jan 17, 2008)

Fozzer said:


> I'm with admiral and the way you get the discount is by promising to bring the other cars over at the date of renewal. But mine has increased by over £100 this year,
> 
> Sent from my Desire HD using Tapatalk


Is that the second year and did they keep to the prices given?


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## Maggi200 (Aug 21, 2009)

Fair enough, I'm with them on a single car policy though, used them in an accident and were actually very helpful I thought and their prices were very competitive. Just when it came to multicar the promised value changed. 

Gotta admit I got a bit of a thing for a bird with a welsh accent though :lol:


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## PaulN (Jan 17, 2008)

maggi133 said:


> Fair enough, I'm with them on a single car policy though, used them in an accident and were actually very helpful I thought and their prices were very competitive. Just when it came to multicar the promised value changed.
> 
> Gotta admit I got a bit of a thing for a bird with a welsh accent though :lol:


I like talking to my current company :argie: hence the issue lol


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## McClane (Dec 9, 2010)

maggi133 said:


> Fair enough, I'm with them on a single car policy though, used them in an accident and were actually very helpful I thought and their prices were very competitive. Just when it came to multicar the promised value changed.
> 
> Gotta admit I got a bit of a thing for a bird with a welsh accent though :lol:


Indeed :argie: :thumb:  Just a shame that they're **** at resolving claims. :wall:


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## JenJen (Jun 30, 2010)

We were with Admiral and after the first year our insurance increased, so left to another company. 

Many other companies offer 20% off your second car etc prob best looking into these.


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## Pezza4u (Jun 7, 2007)

Been with Admiral for over 3 years now on one car we have, SWMBO's. Made a claim in January and they were very helpful, everything went smoothly and didn't lose the NCB's. Renewed with them when we got her new car and they were the cheapest quote we got. When I get my new car and the insurance is due I'll be looking at the multicar policy as well.


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## Bigbruno71 (Sep 28, 2010)

I moved to admiral tried just about everyone on the planet and they were the cheapest by a good margin, you might want to try Adrian flux they also do multiple car policies at a good price.


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## centenary (Sep 5, 2010)

JenJen said:


> We were with Admiral and after the first year our insurance increased, so left to another company.
> 
> Many other companies offer 20% off your second car etc prob best looking into these.


The total cost will normally increase in year two. This is because normally you start with one car on the policy then second or subsequent cars join the policy as the old insurance renewal date is reached.

So, in the first year, car 1 pays a full 12 months premium. car 2 joins the multicar policy say 4 months later when the old policy is due for renewal. However, Admiral will only charge 8 months premium for this car ie 12 months less the 4 it was covered by the other ins co.

At the second year aniversary, both cars will now be charge the full 12 month premium as the policy has one renewal date. So year 2 sees an approximate 25% increase as your are paying for 12 months instead of 8 months in year one (there is a discount however for having 2 cars on the one policy!)


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## PaulN (Jan 17, 2008)

centenary said:


> The total cost will normally increase in year two. This is because normally you start with one car on the policy then second or subsequent cars join the policy as the old insurance renewal date is reached.
> 
> So, in the first year, car 1 pays a full 12 months premium. car 2 joins the multicar policy say 4 months later when the old policy is due for renewal. However, Admiral will only charge 8 months premium for this car ie 12 months less the 4 it was covered by the other ins co.
> 
> At the second year aniversary, both cars will now be charge the full 12 month premium as the policy has one renewal date. So year 2 sees an approximate 25% increase as your are paying for 12 months instead of 8 months in year one (there is a discount however for having 2 cars on the one policy!)


This is very true. A fact i guess most people dont understand when theres big savings shown at the start but really its not true.

After alot of talking to my current insurance ive got a futher 10% off both other cars so thats 30% off total since starting this.

Currently my total save with admiral is £149 Which im tempted to not bother as theres a fair bit of bad pressure during claims.

What ever happens its been an interesting task and im still getting £100 ish off last years price for the Z4.....

Cheers

PaulN


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## centenary (Sep 5, 2010)

PaulN said:


> This is very true. A fact i guess most people dont understand when theres big savings shown at the start but really its not true.
> 
> After alot of talking to my current insurance ive got a futher 10% off both other cars so thats 30% off total since starting this.
> 
> ...


Your current ins co has knocked 30% off your renewal just because you negotiated with them? :doublesho

That's very rare but well in.


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## PaulN (Jan 17, 2008)

centenary said:


> Your current ins co has knocked 30% off your renewal just because you negotiated with them? :doublesho
> 
> That's very rare but well in.


10% of each car.......  I decided to stick with them but will play hard ball in Novemeber when the other 2 are due.


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## OvlovMike (Jul 19, 2011)

I detest Admiral as their options to purchase a policy are questionable at best, to the point where I'm surprised there's not been an investigation.

As you know, when you buy a policy outright you get the price quoted on the screen. With most insurers, you add a near-insignificant admin fee, their interest rate which is never great but not too bad, and you're away.

Where Admiral differ, is if you take out a policy paying by monthly instalment - they take the price from the screen, 'remove the 8.5% single payment discount' and then sticking interest on top. Working out at around 30% interest. Where this falls down, is that you're only allowed to place interest for monthly instalments on the 'base price' plus a reasonable charge for administration. On a £200 policy, £19 administration charge isn't too bad. When we were looking at insuring both of our cars, it worked out at nearly £200 of 'discount' being removed before applying a less than favourable interest rate onto the deal - taking insurance from £1800 (both high miles, me with business use and her with no NCB) to nearly £2500. The problem obviously then comes in the way that nobody actually pays this 'base price' that they discount for single instalment customers, which makes it shaky ground for using it for calculating finance charges!


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## Fozzer (Jul 19, 2011)

OvlovMike said:


> I detest Admiral as their options to purchase a policy are questionable at best, to the point where I'm surprised there's not been an investigation.
> 
> As you know, when you buy a policy outright you get the price quoted on the screen. With most insurers, you add a near-insignificant admin fee, their interest rate which is never great but not too bad, and you're away.
> 
> Where Admiral differ, is if you take out a policy paying by monthly instalment - they take the price from the screen, 'remove the 8.5% single payment discount' and then sticking interest on top. Working out at around 30% interest. Where this falls down, is that you're only allowed to place interest for monthly instalments on the 'base price' plus a reasonable charge for administration. On a £200 policy, £19 administration charge isn't too bad. When we were looking at insuring both of our cars, it worked out at nearly £200 of 'discount' being removed before applying a less than favourable interest rate onto the deal - taking insurance from £1800 (both high miles, me with business use and her with no NCB) to nearly £2500. The problem obviously then comes in the way that nobody actually pays this 'base price' that they discount for single instalment customers, which makes it shaky ground for using it for calculating finance charges!


Totally agree my renewal came through at £520, For two cars (fully comp, protected, etc etc), but when I asked about paying monthly the total price increased to nearly £680...

Sent using Tapatalk


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## rob750 (Apr 17, 2006)

I had trouble with admiral , prior to taking out a policy I explained that I have two stored in a secure airfield hanger and as their policies ran out I would bring them on to the Admiral policy ......I was told "Yes of course we can do it" 2 months later an absolute "eruption" took place if they are not stored at your house we cannot insure them . I explained the airfield is secured 24*7 . Admiral were a joke and then stung me when I had to close the policy


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## centenary (Sep 5, 2010)

OvlovMike said:


> I detest Admiral as their options to purchase a policy are questionable at best, to the point where I'm surprised there's not been an investigation.
> 
> As you know, when you buy a policy outright you get the price quoted on the screen. With most insurers, you add a near-insignificant admin fee, their interest rate which is never great but not too bad, and you're away.
> 
> Where Admiral differ, is if you take out a policy paying by monthly instalment - they take the price from the screen, 'remove the 8.5% single payment discount' and then sticking interest on top. Working out at around 30% interest. Where this falls down, is that you're only allowed to place interest for monthly instalments on the 'base price' plus a reasonable charge for administration. On a £200 policy, £19 administration charge isn't too bad. When we were looking at insuring both of our cars, it worked out at nearly £200 of 'discount' being removed before applying a less than favourable interest rate onto the deal - taking insurance from £1800 (both high miles, me with business use and her with no NCB) to nearly £2500. The problem obviously then comes in the way that nobody actually pays this 'base price' that they discount for single instalment customers, which makes it shaky ground for using it for calculating finance charges!


Admiral give you an actual discount for paying in one go. That shouldnt be confused with your base premium which you appear to have done. So, if you dont pay in one go, there's absolutely no reason why they shouldnt remove the discount.

Lots of other ins co's dont give you a discount for paying in one go, they say 'this is your payment and if you want to pay in installments, here's the interest and the total is £x.'

I dont pay by installments for the obvious reason, no matter which ins co you use, you'll pay more. That suits me fine so the discount for paying in one hit is welcomed by me. I see it as a further discount (which it is).


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## OvlovMike (Jul 19, 2011)

Yes, but surely in order to be able to call the price of the premium a 'base price' someone actually has to pay it - the truth is nobody does. I don't understand how this is permitted. You cannot 'discount' an insurance premium for this purpose, certainly not 8.5% on EVERY policy? It's got to fall into the same realms as the currently investigated Sofa sales outlets who have 'sales' all of the time?

In any case, I'd avoid them like the plague anyway as their claims handling department is utterly terrible - I've fortunately not had to deal with it but I know a good many people who have, and some of the tales are terrible.


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## ianFRST (Sep 19, 2006)

i was considering an admiral multicar policy!!

NOT NOW!! lol


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## centenary (Sep 5, 2010)

OvlovMike said:


> Yes, but surely in order to be able to call the price of the premium a 'base price' someone actually has to pay it - the truth is nobody does. I don't understand how this is permitted. You cannot 'discount' an insurance premium for this purpose, certainly not 8.5% on EVERY policy? It's got to fall into the same realms as the currently investigated Sofa sales outlets who have 'sales' all of the time?
> 
> In any case, I'd avoid them like the plague anyway as their claims handling department is utterly terrible - I've fortunately not had to deal with it but I know a good many people who have, and some of the tales are terrible.


The people who pay the 'base price' are those who dont pay in one hit ie they pay in installments.

So I dont understand how or why you say how is it permitted?

Here's a question for you, where do you think Admiral get the money from to provide insurance to those people who dont pay for it all at once?

Answer, Admiral either have to 'borrow' that money which costs them or, they cover the insurance with another policy which costs them money.

That is why you get a discount if you pay all the insurance premium in one go. Admiral get all your money at once and dont have to either borrow money or effectively cover the insurance.


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## Ben_ZS (Sep 28, 2008)

I'm with Bell which is part of Admiral, and they charged me £163 to change my car details on my existing policy when I got my new car. I had already paid in full at the start of the policy. 

Before I ordered the new car I got a quote and it was the same price as my existing car. I told the guy on the phone this and he said 'yea the premium is the same, the £163 is the charge for changing.' :doublesho


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## Shiny (Apr 23, 2007)

Ben_ZS said:


> I'm with Bell which is part of Admiral, and they charged me £163 to change my car details on my existing policy when I got my new car. I had already paid in full at the start of the policy.
> 
> Before I ordered the new car I got a quote and it was the same price as my existing car. I told the guy on the phone this and he said 'yea the premium is the same, the £163 is the charge for changing.' :doublesho


If there was no change in actual premium, check their TOBA to see what their admin fees are. £163 does seem excessive and an unusual amount for an admin fee, i would suspect that there is some premium difference in there somewhere and it is not just admin fees.


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## centenary (Sep 5, 2010)

Ben_ZS said:


> I'm with Bell which is part of Admiral, and they charged me £163 to change my car details on my existing policy when I got my new car. I had already paid in full at the start of the policy.
> 
> Before I ordered the new car I got a quote and it was the same price as my existing car. I told the guy on the phone this and he said 'yea the premium is the same, the £163 is the charge for changing.' :doublesho


Complain! Very persistently!


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## OvlovMike (Jul 19, 2011)

centenary said:


> The people who pay the 'base price' are those who dont pay in one hit ie they pay in installments.
> 
> So I dont understand how or why you say how is it permitted?
> 
> ...


No, you're missing a piece. They charge you more, and THEN charge you interest on top.

They claim that this is because they offer a 'discount' for paying in one lump sum. Nobody actually can pay the amount that people get charged for insurance when paying monthly. For example:

Insurance quoted by Admiral web site, £1000 for a car. You call up, pay on your debit card. You pay £1000.

Insurance quoted by Admiral web site, £1000 for a car. You call up, want to pay monthly. The insurance increases to £1150. Then you pay the interest on the premium as you pay monthly, which takes the sum of the monthly instalments to £1500.

Nobody pays £1150 for the insurance, which is the 'base price'. People either pay the 'discounted' £1000 for paying in one lump sum, or they pay £1500 because suddenly because I want to pay in monthly instalments I can't get this 'discount' and the insurance cost goes up BEFORE the interest is added for paying monthly.

This is what people including myself gripe about. Not that we pay monthly. Contrary to the inference of your post, I can get dressed on my own in the morning thus understand that borrowing money costs money. However, what I do not understand is why someone who pays in one lump sum pays less than the amount that the same person would have to finance through Admiral and then pay interest on to pay monthly?

Do you follow now?


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## Ming (Oct 16, 2007)

Mike
I can see where Centenary is coming from.
All Insurance companies are in the business of making money Therefore their best rates will be for those that pay cash up front. I know. how? i am one!
The next rate is for those that want to pay by installments. they need to recoupe monies that are accrued by effectively taking longer to receive their monies. If the matter is in installments then many companies use OTHER COMPANIES to perform the Direct debit/Installment proceedures. These companies also charge a fee to accept payment by installments.
I know its not ideal but again they are in the business of making money.
If you look at it as 'how many people does it take to get my money?'
If you pay up front in one go then its probably ONE.
If there are installments and Direct Debits and all the papers than come with it then its probably several. they all need paying.
If you think of the one lump sum payment as a 'special offer' then it all makes sense.
I am not, by the way, saying i agree with it!!
Ming the considered. (PS I am old so can get a premium I can afford to pay in one go!)


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## OvlovMike (Jul 19, 2011)

But they get the whole premium in one go, from the finance company. Who get their costs covered in the interest rate. Which itself is lousy.

It's a scam. They may as well be Nigerians.


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## Shiny (Apr 23, 2007)

I totally agree with Mike here, the annual premium is the annual premium, whether paid by cash, cheque etc.

If you chose to pay by instalments, then nothing but the interest charge should apply in addition to the annual premium, as the annual premium rate should remain unaltered, not loaded up in addition to the interest charge.


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## OvlovMike (Jul 19, 2011)

Exactly. A blender from Currys isn't more expensive on finance, and neither is a car from a dealer - why should Admiral's insurance be different?!


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## Ming (Oct 16, 2007)

OvlovMike said:


> Exactly. A blender from Currys isn't more expensive on finance, and neither is a car from a dealer - why should Admiral's insurance be different?!


The point here is that it ISN'T.
The base cost is the same for everyone BUT the offer a further discount if you pay in one lump.
Its the old 'how much for cash Guv?' scenario.
It is just a further discount, _probably_ given because the need to involve an outside agency is not involved.

I have been into many establishments, including the likes of Curry's and car dealerships and been quoted a price. Then said cash upfront now! The price invariable comes down.
If you say 'how much for finance Guv' there is not going to be a reduction.
Just my experiences
Ming the Barterer


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## OvlovMike (Jul 19, 2011)

See, that's old fashioned. Now there are incentives for dealers to finance vehicles, they get quotas and allsorts.

Call a man called Daniel at Colshe, ask him for his best 'cash' price. He'll ask how else you planned on paying...

My point, and that of Shiny, is that insurance is insurance. The price is based on risk, potential costs to repair, all sorts. Everyone has their own hat that they pull random (ever increasing) numbers out of, and that should be the price you pay - to then charge more, when the finance includes sufficient margin to cover overheads (which are rarely incurred by the insurers, as I'm sure Shiny will confirm) is borderline criminal. My insurance isn't more with Swiftcover because of the finance, and it wasn't with Sky. The amount I paid was suitably increased because I paid interest over what the loan actually costs the finance house to cover the loan and their administration of it. Hence why your loan with your own bank has a low rate, where the credit cards given to any knob and his dog has an extortionate rate - they have to chase, and chase, and chase to get their money.

Sorry, we're going to have to agree to disagree on this - there is NO justifying what they're doing, at all.

Mike, the stubborn old young b*stard.


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## james_death (Aug 9, 2010)

Ive done it price is guaranteed was cheapest for us for first year and then was cheaper separate the next years else where.


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## centenary (Sep 5, 2010)

OvlovMike said:


> No, you're missing a piece. They charge you more, and THEN charge you interest on top.
> 
> They claim that this is because they offer a 'discount' for paying in one lump sum. Nobody actually can pay the amount that people get charged for insurance when paying monthly. For example:
> 
> ...


Seriously!? You dont understand how \ why people who pay in one lump sum get a discount over people who pay in installments?

Tell you what, go down your local High Street and buy say, a 3 piece suite. Ask the salesman how much the suite costs. He'll give you one price.

Then, ask him how much it will cost if you pay for it in installments. He'll tell you there will be x% interest on the purchase price so it will be more expensive than the original price he gave you.

Then tell him, you intend to pay in one lump sum, how much is the 3 piece suite now? He'll tell you he cn give you a discount for paying in one lump sum which will be the cheapest option.

Now, tell me how you dont understand this example and tell me how you think it is illegal for an insurance co to do the same if you pay in one lump sum compared to paying in installments cos Im b*ggered if I can figure how you dont see it. :driver:


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## OvlovMike (Jul 19, 2011)

Ok, you continue to accept that you'll get fleeced by this shower of arseholes. I'll buy insurance elsewhere, and not buy **** from shops that aren't worth the time of day.

I've just bought two cars, and the best price was the best price, if I was paying cash, on finance or in sperm donations.

Money is money ultimately, you seem to think that finance inconveniences vendors. Good luck in your life if you carry this antiquated view, it doesn't make the blindest bit of difference. Currys can still only discount a pound or two every thousand, and car dealers can still only discount as far as their profit will allow. If anything, car dealers prefer finance (when it's easy) because they get kickbacks from the finance company for putting business their way, as do most vendors affiliated with one or two financiers.


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