Insurance

[Davman]

Hi All.
What is everyone's thoughts on where the Insurance cost of the Grenadier will be.

From the perspective of the vehicle being completely new, and the potential lack of spare parts (at least initially), the lack of claim history etc - will these push the price of premiums relatively high?

What do we think?

Should Ineos offer an insurance package as well?

 

[SteveGren]

Been wondering about this myself.

 

[emax]

I don't think that "a completely new car" will push the premiums. Insurances use statistical calculations for their risc: price, horsepower, weight, Vmax, region where the car is registered, age and experience of driver, color (not kidding), marital status and job of the driver and so on. And they use numbers from similar cars.

I'd compare with Toyota Land Cruisers, new Land Rover, Discovery and the like.

 

[Jeremy996]

Uk insurance rates are based on a basket of items, the cost of common accident repairs being a large element of it. The multipart bumpers should keep those costs down so I am hopeful of not too much of a change in costs, ( although I will have to consider the impact of going from a £10k vehicle to a £50k+ vehicle!)

 

[Chocki]

Just phoned my insurance (Admiral) to enquire and INEOS is not even on their systems so they could not give me any idea on what insurance costs may be.
Has anybody found out anywhere that can give a quote yet?
Thanks.

 

[emax]

Try BMW X5 4x4. Seems to be the closest to get a rough quote.

 

[Miles]

The cost of repairs including parts and labour will be a large factor in pricing for insurance in the UK and as the servicing and repairs will be undertaken via a different avenue to the main dealer with the cost of parts an unknown at present I would imagine that most UK insurers will take a conservative approach and possibly rate this in line with the current LR Defender but then adjust the pricing going forward based upon data around repair costs. It would be great if Ineos could partner with an insurer in the 1st instance as many car manufacturers/dealers do which assists the sales process. I have reached out to a broker to explore further and will update accordingly

 

[J8hn]

I see a number of people have a September build date so not long to go now (hopefully). Has anyone managed to find a UK Insurance Company that will quote for the Grenadier?

 

[acwiltshire]

Thought I'd look at nfu mutual as they will have understanding of 4x4 markets. Website won't help if you need I insurance in more than 30 days ahead

 

[J8hn]

thanks - worth a look nearer the time

 

[DaveB]

My Mercedes is over twice the price to buy than my wife's mini but her insurance costs more. Insurance company said it is more likely that the mini will be involved in a crash than my Mercedes based on past claims history for each type of car. They also hinted that women are more likely to crash than men I asked if they could put that in writing for my wife and they declined. Also her car is a petrol and mine is a diesel and very few thieves steal diesels (I find it hard to believe they would recognise one), my car is also much harder to steal due to security systems

 

[bemax]

That’s interesting. In Germany women are said to be less costly for the insurances. I think they are involved in less serious accidents than men. I am not sure but I think the tarifs of the insurances are unisex since many years. Maybe other users from Germany know better.
Of course there are the other distinctions as well as
mileage/year
Probability of theft of the car
Risk factor of the region
average cost of repairs
and others

 

[ECrider]

If I put my wife on my multicar insurance here in the UK the premium reduces. I am investigating becoming a mormon.

 

[emax]

> I asked if they could put that in writing for my wife and they declined.

 

[Tazzieman]

Most accidents are relatively minor front/rear enders.
The Ineos will win most arguments (except in the USA where everyone drives a monster truck) , and often the damage will be negligible.

 

[bemax]

Most accidents are relatively minor front/rear enders.
The Ineos will win most arguments (except in the USA where everyone drives a monster truck) , and often the damage will be negligible.

You mean the IG damage

 

[Tazzieman]

You mean the IG damage

Yes. especially with the steel bumper

 

[DCPU]

I posted in one of the FB groups in early July:

INSURANCE

Can't remember quite how road insurance works there, but in UK I've been getting quotes in to see what the costs to budget for will be.

So far only one quote for the Grenadier ~ £1,180 per annum. OK it's early days, as the make and model are not in the databases yet but it's excessively high; and got me wondering if Ineos are actively engaged with the industry to ensure that premiums are as reasonable as they possibly could be.

As a like for like comparison, I picked a comparable new Defender and got a quote of £226.

 

[DaveB]

I posted in one of the FB groups in early July:

INSURANCE

Can't remember quite how road insurance works there, but in UK I've been getting quotes in to see what the costs to budget for will be.

So far only one quote for the Grenadier ~ £1,180 per annum. OK it's early days, as the make and model are not in the databases yet but it's excessively high; and got me wondering if Ineos are actively engaged with the industry to ensure that premiums are as reasonable as they possibly could be.

As a like for like comparison, I picked a comparable new Defender and got a quote of £226.View attachment 7792296

Wow, that is cheap insurance. My Mercedes is now 8 years old and costs AUD$1,068 a year GBP 628 however that is premium insurance. I never look for the cheapest I always look at what you get for the money. Free windscreen chip repair, windscreen replacement. hire car, etc Someone ran into me 2 years ago and dented the passenger door. It went into repairers 2 days later, a taxi took me to Europcar and there was a hire car waiting for me to use the 3 days it took to do the repairs. All I had to pay was the fuel. This is what I want from car insurance.

 

[DCPU]

Well actually I thought it was expensive for both!

I currently pay £138 for a 2013 Defender.

In terms of premium insurance, all quotes are on a like for like basis ~ fully comprehensive, 2 named drivers, protected no claims.