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HomeBuisnessHow can my old Honda Jazz be "too high risk" to insure?...

How can my old Honda Jazz be “too high risk” to insure? | Car insurance Pi News

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Pi News –

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Just before Christmas I got a letter from LV= saying they won’t renew my Honda Jazz insurance due to the risk of theft, I can’t believe it.

I immediately sent a letter of complaint and after not getting a reply I wrote again to his head office in Bournemouth earlier this month.

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LV= has not yet responded but this morning I received an email repeating the text of the original notification.

I have insured a car with LV= and earlier Frizzell, since 1969 and has home insurance policies with it. Its actions are particularly annoying as I spent £500 to get the Jazz through its MOT.

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After an accident a few years ago, (another car drove into the back of our Jazz) we changed the back cover to a different color and did not treat the scratches.

The possibility of stealing such conspicuous items and not for sale is a car excessive remote, and I said clearly in my letters I plan to move them all four of them if he doesn’t revise my policy to another firm.

FC, Prestige

While flashy brands such as Range Rover, BMW and Mercedes are among the most stolen cars in the UK, your beat-up Honda Jazz seems a less obvious target.

But when I asked LV=, it confirmed that it had indeed taken the “difficult decision” to stop insuring your car because the model you own is one of the victims of a car crime wave.

LV= says: “We are seeing an increase in car thefts and continue to experience trends in organized theft gangs stealing high-value parts such as catalytic converters, headlights and even steering wheels, which are very lucrative. “

“This is due to the high-tech nature of cars, as well as the estimated cost of these components and the general shortage of car parts due to global supply chain disruptions. This affects all types of vehicles, and some second-hand cars are very desirable. , they are on average more than 30% more expensive than two years ago.

The insurer said that although the Honda Jazz does not pose a major risk, catalytic converter theft claims have increased by 52 per cent over the past three years. “We never want to leave our customers in a difficult position to find alternative insurance cover, but these thefts are something we’ve seen and we have to make tough decisions to help keep the cost of insurance down.”

This is not a general decision about the brand: only Honda Jazz SE models produced between 2001 and 2008 are affected by the type of catalytic converter.

It’s a tough time for motorists, as while fuel prices have fallen, insurance costs are ahead, rising by 43.8% last year, according to official figures. The other side of the coin is that insurers are making record payments on auto insurance. According to the Association of British Insurers, in the three months to the end of September 2023, payments to customers for stolen cars and vehicle theft were £178m. this is 35 percent more than in 2022..

You’ve been a loyal customer of this company for 50 years, but it sticks to its guns and if you want to keep driving your trusty Jazz, you’ll have to go elsewhere for insurance.

It’s the second car and you say you’re still debating what to do when the policy expires next month.

We accept letters but cannot reply individually. Email us at [email protected] or write to Consumer Champions, Money, The Guardian, 90 York Way, London N1 9GU. Please enter a daytime phone number. Submission and publication of all letters is subject to our terms: http://theguardian.com/letters-terms

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