# Insurance quotes, how do they work it out?!



## LukeWS (Sep 9, 2012)

Hi all

Just a quick random thread. I was helping a friend look for quotes online yesterday and they contacted me today to say one comparison site is £100ish less than the other. So out of curiosity i tried a quote for myself on both sites.

The best result was from the same company but one site quoted £545 one came in at £390! However i then realised the sites had valued my car differently so i evened it out putting the cheapest results car valuation up by 2500 to match the other, (basically valuing it at second hand dealership price) this then brought it down to £368!!

I just dont get how it all works and why they all cant just give a honest quote haha or how upping the value can drop the quote :/ i guess its how they make their money but does any one have any ideas why this is?

Also i guess its some advice that shopping around and changing the value of your car may help 

Luke


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## adamb87 (Jan 13, 2012)

Not sure if a certain amount means that you are more likely to look after it. were as if you buy a 500 quid banger you couldnt give two flying ducks about it and possibly more likely to bump it.


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## LukeWS (Sep 9, 2012)

That makes sense haha just suprises me how much they can vary. If only we could select obsessive car owners it should plummet!


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## Luke M (Jul 1, 2013)

I believe the following formula is usedby insurers if I'm not mistaken. 
Step one…make it up
Step two…see if you're a dude and double it!
It's highly scientific so forgive me if I'm slightly off.


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## Guitarjon (Jul 13, 2012)

I genuinely believe its an art of witch craft.


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## Kerr (Mar 27, 2012)

It just seems to be if your details just happen to suit that particular insurance companies computer program at that time.

Quotes are random.


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## Guest (Feb 26, 2014)

Insurance companies do alter their prices sometimes on a daily basis!

I did an online quote for my car and got a price of £x valid for 30 days. I thought I could do better and shopped around but couldn't beat it. 

I'd deleted the original email quote so filled in all the same details again about 7 days after the original quote. This time the price was £x plus £50

Naturally, I got on the 'phone and complained. After some searching they find the original quote and offered me that price. I didn't let them off that easily and asked them to explain why there was a £50 difference in premiums offered for the same details. After a bit of evasive wriggling, the guy basically admitted prices varied depending on how much business they'd brought in that day.


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## Darlofan (Nov 24, 2010)

I had quotes on confused last Saturday. Sunday morning someone ran into back of me. great I thought this'll cost me so added accident onto quote. To my surprise it came down by £3!!


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## xedbot (Sep 20, 2011)

My £18k 343bhp Z4M Coupe costs me £370 for the year
My £3k 150bhp Fiesta ST costs me £450 for the year

Both on EXACTLY the same terms. Witchcraft is easier to explain...


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## Aldoo (Feb 24, 2014)

I'm sure its a random number!

I've been looking to change my 1.8tdi focus (£500 insurance). 
Got quotes of about £620 on an audi S3 and leon cupra - both 1.8t engines
.
Then i looked at a ibiza cupra 1.9tdi and it was £1900 for the same insurance just the different car! how can a smaller diesel be 3x more than a bigger, faster, more expensive car!? 

just a random number plucked from the air isnt it!? 

..rant over guys lol


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## Geordieexile (May 21, 2013)

It's just about risk and perceived risk and the likelihood of a payout.

Different cars, coupled with different drivers in different areas, will have given different results for different insurance companies over time.

They simply load the policy premium based on the risk they're taking (ie, the likelihood of the insured person(s) making a claim).

It's affected by probability calculations in the main I'd have thought; however, the demographic of the client base and the cars they drive will cause risk factors to go up and down.

It may follow that a smaller engined slower car is more likely to be crashed in their eyes owing to the information they have.


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## Aldoo (Feb 24, 2014)

Thats how i thought it worked yeh.
Insurance groups are mainly for the older drivers, at my age (20) it goes more off what you've said - or generally summed up as the car's 'boy racer factor' lol

but high risk or not, i cant see how a 200hp+ quattro can be 1/3 price of a ibiza diesel! hahaa


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