Steve Hiatt Posted April 27, 2011 Share Posted April 27, 2011 Whilst speaking to my local office I mentioned that I'm expecting to be stiffed at renewal time on the Landy. I was told my increase would be modest as I'm a classed as a farming member. However, non farming members are having their premiums increased by much larger amounts. So, finally, there is an advantage to smelling of cow sh*t. Buy some cows and drop your premiums. I have some rather nice White Parks if anyone is interested. Quote Link to comment Share on other sites More sharing options...
cackshifter Posted April 27, 2011 Share Posted April 27, 2011 I wonder what the minimum number of cows is to qualify as farming? Or maybe you could get away with 1 bantam. Might be cheaper than paying the extra premium. Nigel Quote Link to comment Share on other sites More sharing options...
mudmagnet Posted April 27, 2011 Share Posted April 27, 2011 if thats the case i as a non farmer would tell the NFU to get stuffed Quote Link to comment Share on other sites More sharing options...
Daan Posted April 27, 2011 Share Posted April 27, 2011 I grow vegetables in my garden.... A bit surprised by this, if you listen to what is said on telly recently, theft of farmermachinery and so on has rocketed recently. Daan Quote Link to comment Share on other sites More sharing options...
Ryan Posted April 27, 2011 Share Posted April 27, 2011 That'll explain the quote from NFU for my Freelander being about £500 more than with Direct Line, and even that's expensive enough. Quote Link to comment Share on other sites More sharing options...
simonr Posted April 28, 2011 Share Posted April 28, 2011 if thats the case i as a non farmer would tell the NFU to get stuffed It's only down to the statistical risk. I guess that NFU's data suggests that 'Farmers' cost less to cover than non Farmers - and hence offer premiums proportionate to the risk. Insurers work to a fixed Loss Ratio - i.e. the ratio of premium income to claims paid out. The difference is effectively their profit. It would probably surprise most people how slim that profit is on Motor Insurance. I used to work for an Insurance Intermediary (half way between an Underwriter and a Broker) who worked on an 80% loss ratio (i.e. they paid out 80% of the value of premiums paid) and that was in one of the more profitable insurance sectors. Before that, I assumed Insurers were money grabbing @&*$£"^& - but after I realise that they are just a business like any other and that the premiums change in direct proportion to the claims. It's often asked why then there is such a difference between one insurer and another. Generally it comes down to the data they have and have analysed. A niche insurer might look at the available data and find that people with blue hair statistically are a good risk - and offer proportionate premiums whereas an insurer who has not looked in that detail might assume a blue haired person has the same risk as everyone else - and charges a higher premium. For that reason it's worth finding the insurer who has analysed your niche and can provide truly proportionate cover rather than that based on an assumed average. Si Quote Link to comment Share on other sites More sharing options...
Dave K Posted April 28, 2011 Share Posted April 28, 2011 The lady from NFU I spoke to just suggested that if I had other policies with them it might reduce the premium. (I'm not a farmer) My insurance has gone up, but faced with the pontential hassle of shifting insurance, I'll stay with them. They've been very good over the years. On a similar note, I got quotes for a small disposable hatchback I own, & it's now cheaper to insure that fully comp, than 3rd party Quote Link to comment Share on other sites More sharing options...
Ryan Posted April 28, 2011 Share Posted April 28, 2011 The lady from NFU I spoke to just suggested that if I had other policies with them it might reduce the premium. (I'm not a farmer) I previously had a car policy with them for my Defender with full NCB. I also have my home contents insurance with them. When I bought a Eurobox whilst the Defender was off the road, NFU couldn't compete with any of the "normal" insurers. Then I sold the Defender and cancelled the policy, continuing on with Direct Line. Now I've traded in the Eurobox and got a Freelander and decided to amend the policy and let it run until the renewal in June/July. The premium went up, which I wasn't too surprised about seeing as I went from Group 1 to Group 11. But considering I still have full NCB and another policy with NFU, and have been a Mutual customer for 3 years, I needed a chair when they quoted almost £1k for a 2001 Freelander! I may try again when the policy is actually due to renew. Quote Link to comment Share on other sites More sharing options...
lrfarmer Posted April 28, 2011 Share Posted April 28, 2011 Whilst speaking to my local office I mentioned that I'm expecting to be stiffed at renewal time on the Landy. I was told my increase would be modest as I'm a classed as a farming member. However, non farming members are having their premiums increased by much larger amounts. So, finally, there is an advantage to smelling of cow sh*t. Buy some cows and drop your premiums. I have some rather nice White Parks if anyone is interested. it most likly the fact that most farmers have all there insurance with NFU and pay 4 figers+ so can give a better price Quote Link to comment Share on other sites More sharing options...
Disco-Ron Posted April 28, 2011 Share Posted April 28, 2011 Maybe its becuase, in general, farmers trucks are knackered, and not worthy of being nicked..!...........! Quote Link to comment Share on other sites More sharing options...
landrover598 Posted April 28, 2011 Share Posted April 28, 2011 So thats why i had a stupid high quote of them for the 90 then. Looks like i won't keep the 100" policy with them next year. Quote Link to comment Share on other sites More sharing options...
landrover598 Posted April 28, 2011 Share Posted April 28, 2011 in general, farmers trucks are knackered, and not worthy of being nicked..!...........! Most of them round here (who claim to be poor and have very small farms) all have new pumas Quote Link to comment Share on other sites More sharing options...
Disco-Ron Posted April 28, 2011 Share Posted April 28, 2011 Some do David thats true..... one of my late fathers favourite sayings was, 'you never see a framer on a bike..'........ even though as you say, most claim to be poor........ I even have a barrister who's a customer of mine, he is also a small farmer, and has houses rented out on the farm, can you believe even he claims to be 'poor!'....... Quote Link to comment Share on other sites More sharing options...
Tractorboy16 Posted April 28, 2011 Share Posted April 28, 2011 well. For once in my life. Thank you very much!!!! I was insured with Adrian flux for my challenge 90 last year when I had policies with the nfu as flux were a lot cheaper but when I came to re-new the NFU more than halved my quote. And on the business of new machines and farmers, Don't most bushiness try to re-new there machines as much as possible when they have had a good year? With the price of machinery these days there many farmers who simply can't afford not to keep buying new machines and trading them in before they become two expensive to repair or before there old machines become worthless that they hen can't get the funds to buy the new kit that is now more and more expensive. Is there any business what wouldn't want to update its machines if it had the ability too? You don't see many hauliers with 15-20 year old machines or a call centre with a 10 year old computer do you!!!! That's just Business. Well, There are a few that think the new range rover is an essential item to the farm however!!!! far more important than a new £250,000 Combine James Quote Link to comment Share on other sites More sharing options...
geoffbeaumont Posted April 29, 2011 Share Posted April 29, 2011 When I bought a Eurobox whilst the Defender was off the road, NFU couldn't compete with any of the "normal" insurers. On the other hand we have two euroboxes, both insured with the NFU who were about on a par with other insurers (we aren't farmers and live in Birmingham). Not looking forward to this years renewal though - from any insurer Maybe its becuase, in general, farmers trucks are knackered, and not worthy of being nicked..!...........! Or maybe that farmers don't bother to claim for cosmetic damage? Given the cost of relatively minor bodywork these days that could be a big factor. I seem to remember Jules' insurance making some comments to that effect before he rolled his 90, with regard to off-road enthusiasts (and not about minor damage, either)? Quote Link to comment Share on other sites More sharing options...
jeremy996 Posted April 29, 2011 Share Posted April 29, 2011 My NFU quote, 1989 110 CSW, has gone from £202 to £313; having looked around no one else is cheaper, so I'll just have to pay! Simon's comments are astute, most car insurance underwriters have recorded losses on average for the last 10 years and the situation is not being made any easier by excessive personal injury claims, substitute vehicle claims and accidents involving the uninsured. As someone no longer involved in general insurance, I find it very hard to feel any sympathy for motor insurers, who still offer better deals to "new customers only" than to people with a straight renewal. Show me some loyalty and I'll show you some, otherwise every year I'll shop around. Quote Link to comment Share on other sites More sharing options...
Steve Hiatt Posted April 29, 2011 Author Share Posted April 29, 2011 Or maybe that farmers don't bother to claim for cosmetic damage? Given the cost of relatively minor bodywork these days that could be a big factor. I think this may be a factor. And a farmer is more likely to moan than claim if he has a stiff neck following a claim. Either way the risk must be lower for them to offer lower premiums. Quote Link to comment Share on other sites More sharing options...
farmerboy_y2k Posted April 30, 2011 Share Posted April 30, 2011 The last time i asked them for a quote for my 2, the quote for my car was more than the renewal quotes for the landy and car combined with the previous insurers. Quote Link to comment Share on other sites More sharing options...
Steve Hiatt Posted April 30, 2011 Author Share Posted April 30, 2011 Insurance for my 110 XS Puma is about £300 which I'm happy with. Quote Link to comment Share on other sites More sharing options...
saxosportsaxo Posted June 16, 2011 Share Posted June 16, 2011 A huge can of worms... Quote Link to comment Share on other sites More sharing options...
western Posted June 16, 2011 Share Posted June 16, 2011 been with NFU since '95 for my 110, hopefully it won't go up when due at end of August, think I'll ring my agent & get some latest info. Quote Link to comment Share on other sites More sharing options...
forkrentfitter Posted June 17, 2011 Share Posted June 17, 2011 been with NFU since '95 for my 110, hopefully it won't go up when due at end of August, think I'll ring my agent & get some latest info. ralph,been with our local agent since 95 too,spoke to them last month when i added my son to the policy,was warned to expect up to a 30% rise in premium for no changes to the policy. Quote Link to comment Share on other sites More sharing options...
Orgasmic Farmer Posted June 17, 2011 Share Posted June 17, 2011 I pay the NFU the equivalent of 20% of my profit in insurance in one form or another. My combined insurances have gone up by over £500 this year. I have now asked the Farmers Union of Wales to quote me and I am already getting quotes for less than I was paying last year with the NFU. Me thinks it is time to change! The NFU have been insuring our family and farming for 60 years so I would expect a bit of an effort from them to try and match others out there Quote Link to comment Share on other sites More sharing options...
discomikey Posted June 18, 2011 Share Posted June 18, 2011 being 18, mines extortionate. im a farmers son and work on the farm, my first year of driving insurance was 1200, which believe it or not is rather cheap for a geezer my age, i couldnt get cheaper. this year however it has shot up to 2,000 an increase of £800 for no reason, no claims, no convictions, but i still cant get any cheaper than them. ill stay with them though because they are good when it comes to claims and dont usually try to back out of a claim or mess you about. Quote Link to comment Share on other sites More sharing options...
Rich_P Posted June 18, 2011 Share Posted June 18, 2011 Have you tried Footman James? I think they do business mileage as well, unless you need to insure your Series for carriage of goods etc? Then again, you look like you have that TDi fitted which can be a problem? Quote Link to comment Share on other sites More sharing options...
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