Has your insurance gone up?

[Ninja59]

My insurer left the market by pulling the entire product line this year due to the cost of claims from one manufacturer.

Decided to take a better policy out with greater coverage with a better provider, but it effectively doubled the cost of my policy.

[disad-vantage-d]

We have two policies due for renewal in early August. After reading this thread and others on PH I was rather dreading the renewal quotes coming through.
However, I got quite a shock in the way I wasn’t expecting. The quote for our CS has come in over £40 LESS than last year and the Yaris only £40 more. I’ve had a look on a few sites and I’m unable to match either renewal - which is unusual from past experience.
Nothing has materially changed since last year.

[zb]

Another one to add to the Admiral pile. £650 last year, within spitting distance of £900 this. I also had a non-fault claim (now over 5 years ago, Admiral are 3 years) drop off in Feb too! Which meant a bit of shopping around, and I got it for less than last year. Robbing bds.

[TwigtheWonderkid]

zb said:

Another one to add to the Admiral pile. £650 last year, within spitting distance of £900 this. I also had a non-fault claim (now over 5 years ago, Admiral are 3 years) drop off in Feb too! Which meant a bit of shopping around, and I got it for less than last year. Robbing bds.

That's a pretty rubbish robbery, seeing as they didn't actually get any money off you. A company offered you a price for their product. You found a similar product elsewhere cheaper. That's not robbery, it's business.

[21st Century Man]

28% increase. But I've upped the value as it's doubled since I bought it 4 years ago and I've had an SP50 recently too. I was expecting worse.

[3GGy]

£233 last year, £398 is the best I can find with no changes to the policy.

[kiethton]

Yep stung a bit!

2015 BMW M135i has gone from £595 to £680 via a renewal quote of £805 (quote me happy both years)

2022 BMW X5 45e has gone from £1,450 to £2.220 via a renewal quote of £3800. This required a 3x of the volantary excess. (Was Admiral, now Swiftcover)

My wife and I insured on both cars, 9-10 years NCB on each car. Neither of us have any convictions and we live in a CR2 (S London) postcode. Only changes yoy are a new baby and a non-fault accident (wife rear-ended) last year.

[CornedBeef]

Same here - Admiral, £390-odd last year and £655 this year! Shopping around and it seems like it's the lowest price too, seems mental. 33 years old, 10 years NCD, no points or fines. Tried AA & Direct Line and they're quoting £1500 each lol

[Court_S]

My insurance went up a wee bit; it was the first time that I renewed with the same insurer. When I said I wasn’t beading it they dropped the price to the cheapest alternative which was only a few quid more than last year.

My wife’s insurance was a totally different story, last test it was £189 but the renewal was over £500 despite nothing changing. The best alternative was £376.

[Nickbrapp]

Isn’t a lot of this to do with the government bringing in the rule that new customers shouldn’t get a better deal than existing ones, and then insurers have just got rid of good deals for new customers?

[alscar]

Nickbrapp said:

Isn’t a lot of this to do with the government bringing in the rule that new customers shouldn’t get a better deal than existing ones, and then insurers have just got rid of good deals for new customers?

Certainly has a bearing on it and couple this to the issues of much increased theft numbers , parts prices , availability and price of hire cars , general inflationary factors and the fact that most Motor Insurers are running at a loss.
Add in third party accident management costs to the equation.
Car insurance is like most insurance ,cyclical and also market share driven so at some point this so called madness will end.
Those with losses or cars that insurers no longer want obviously will have to shoulder the bulk of the percentage rises often mentioned but all customers will pay more as there aren’t enough of the former category to turn their overall losses into a profit.
Companies capacity internally is also a factor which ultimately will drive the matrix of actuarial driven and loss ratio rectification.

[catso]

No because I have a 'fixed for 3 years' policy with :cough: Saga, this is year 3 though so expecting the hit next year.

[Earthdweller]

Earthdweller said:

Just had a renewal come through for my Z4 and it’s gone down £40 from last year

just renewed the insurance on my X3

the renewal quote had gone up by £100 but i managed to get insurance through another broker, with the same insurance company, for the same amount as i paid last year plus i added business use onto it for my wife

[Sheepshanks]

It's a bit weird that almost everyone's premium is going up, often by a hefty amount, yet some are coming down slightly.

I wonder if there's some industry wide re-assessment going on?

[Uncle Meat]

I've just had my renewal quote and, as expected, it's gone up. A lot. Although they could have put some effort into making it a bit more plausible and not just 'meh, we'll add exactly 100% to last years policy'

Here's what we can offer you versus last year:

Last year's price*: Your new price:
£470.70 £941.40

[WPA]

Mine last year £211.20 for a 2008 Civic Diesel, this year for the same cover they wanted £514, not a chance was I going to pay that.

Got the same cover for £191.50 with another company after using a well known comparison site.

[Gary29]

Mine is just coming up for renewal, the renewal offer is a ~60% hike on last years price, nothing at all has changed from my side.

Currently shopping round for a cheaper alternative.

[curvature]

Can anyone recommend a good broker?

My wife's X3 M40d renewal is up by over £300 and after making two calls to brokers they wanted £1000 more!

[alscar]

curvature said:

Can anyone recommend a good broker?

My wife's X3 M40d renewal is up by over £300 and after making two calls to brokers they wanted £1000 more!

Who were the 2 brokers you called ?

[curvature]

alscar said:

Who were the 2 brokers you called ?

Chris Knott and Academy.