Insurance prices?
Discussion
Has anyone else noticed an unusual rise in insurance premiums this year? Admiral have kindly offered a 63% increase in premium from last year, and looking around at other providers they are all in the same ballpark. Nothing has else changed which should affect the cost. I know inflation is at 10%, but a 63% increase is considerably higher than that!
There are a number of factors, but:
1) Admiral has seen significant rises in renewals on some cars, a phone call to them seems to make them think again though.
2) General increases are happening due to parts price, delays in parts meaning more time for people in hire cars meaning claims increase as well as overall complexity of repairs
3) Thefts - specific models are being hit heavily with thefts 430 Range Rovers a month going missing, £600k in claims for one insurer every month means some insurers have stopped insuring or pulled entire product lines. The thieves are getting better at hacking, sadly and that goes upto hacking the canbus and bypassing keys.
1) Admiral has seen significant rises in renewals on some cars, a phone call to them seems to make them think again though.
2) General increases are happening due to parts price, delays in parts meaning more time for people in hire cars meaning claims increase as well as overall complexity of repairs
3) Thefts - specific models are being hit heavily with thefts 430 Range Rovers a month going missing, £600k in claims for one insurer every month means some insurers have stopped insuring or pulled entire product lines. The thieves are getting better at hacking, sadly and that goes upto hacking the canbus and bypassing keys.
These threads keep cropping up and in every one Admiral is the common theme.
No or so little an increase this or last year with DL on both cars simply not worth the time searching, wifey swapped over to DL this year too because once again Saga upped the premium for no good reason but this year wouldn't play ball re getting anywhere near DL's quote, cheerio Saga.
No or so little an increase this or last year with DL on both cars simply not worth the time searching, wifey swapped over to DL this year too because once again Saga upped the premium for no good reason but this year wouldn't play ball re getting anywhere near DL's quote, cheerio Saga.
My Admiral quote had almost doubled this year, which considering I had made a claim wasn't a total surprise. It was the over doubling of the house insurance which was completely uncompetitive!
Ended up getting the car down with a call and bringing nother car onto a multicover admiral policy. The house, ended up going elsewhere.
Ended up getting the car down with a call and bringing nother car onto a multicover admiral policy. The house, ended up going elsewhere.
Condi said:
Has anyone else noticed an unusual rise in insurance premiums this year? Admiral have kindly offered a 63% increase in premium from last year, and looking around at other providers they are all in the same ballpark. Nothing has else changed which should affect the cost. I know inflation is at 10%, but a 63% increase is considerably higher than that!
in Feb my Admiral premium went from 800 to 2800. After spending a few ice ages on the phone with them they offered to reduce it to 2600. Tempting!Went to Aviva - 900
(C63 W205)
CoreyDog said:
Just renewed our insurance today.
2 years ago, was £390, last year we couldn’t find a single quote for less than £520, renewed today for £370.
Given up trying to work out their logic many years ago.
Similar with wife’s car, and that was all with same company. Shopped around but little difference. Was quite relieved when this year’s renewal arrived and it was 25% less than last year.2 years ago, was £390, last year we couldn’t find a single quote for less than £520, renewed today for £370.
Given up trying to work out their logic many years ago.
My recent renewals - all done via the same specialist broker / underwriter.
205 GTI in Nov '22 - no increase - price remained the same as the renewal the year before.
Mk1 Focus RS (heavily modified) - April '23 - £10 increase over the renewal last year (due to a turbo change / slight BHP increase).
MG ZR - due in May '23 - quote came through last week with the price being the same as renewal the year before.
205 GTI in Nov '22 - no increase - price remained the same as the renewal the year before.
Mk1 Focus RS (heavily modified) - April '23 - £10 increase over the renewal last year (due to a turbo change / slight BHP increase).
MG ZR - due in May '23 - quote came through last week with the price being the same as renewal the year before.
We were with NFU for several years (but always checked around for better deals).
Then the renewal offer leapt in Dec 2021 to
BMW 335d/Skoda Fabia for £439/£204
So we moved to LV= and that was
£320/£140
Then in December 2022 the renewal with LV= leapt up quite a bit, so we re-jiggled on-line to a multi-car insurance (yes, it was LV= again!) and got to:
£329/£133
Then the renewal offer leapt in Dec 2021 to
BMW 335d/Skoda Fabia for £439/£204
So we moved to LV= and that was
£320/£140
Then in December 2022 the renewal with LV= leapt up quite a bit, so we re-jiggled on-line to a multi-car insurance (yes, it was LV= again!) and got to:
£329/£133
Edited by Pica-Pica on Sunday 30th April 17:12
Not for everyone, but I went to multi-insurance with Admiral (when renewing house ins!)
I called to decline the House/Buildings insurance renewal.
But, each car I added to multi-ins knocked £50 off the house ins.
So I agreed car insurance cover with them, pro-rata, to align the dates.
A couple of months ago
House insurance, 2 cars with the add on’s, legal cover/protected/loan car
£670 all in..
The downside, if they hike it next year, i’ll have to switch/pay for all on the same date!
I called to decline the House/Buildings insurance renewal.
But, each car I added to multi-ins knocked £50 off the house ins.
So I agreed car insurance cover with them, pro-rata, to align the dates.
A couple of months ago
House insurance, 2 cars with the add on’s, legal cover/protected/loan car
£670 all in..
The downside, if they hike it next year, i’ll have to switch/pay for all on the same date!
Edited by anonymous-user on Sunday 30th April 17:14
My son was wirh admiral and as he was coming to the end of his first years insurance we expected a drop, however the renewal was about 50% more expensive.
Went on a comparison site and got it much cheaper.
When he called Admiral to stop them auto renewing they dropped the price a bit, but it was still higher than last year and much more than the comparison site. They said that having me as a named driver (mid 50's, clean licence, no accidents) was pushing the price up!
I showed him that on the comparison sites the opposite was true. With me named it drops his insurance by about £100.
Something odd is happening at Admiral!
Went on a comparison site and got it much cheaper.
When he called Admiral to stop them auto renewing they dropped the price a bit, but it was still higher than last year and much more than the comparison site. They said that having me as a named driver (mid 50's, clean licence, no accidents) was pushing the price up!
I showed him that on the comparison sites the opposite was true. With me named it drops his insurance by about £100.
Something odd is happening at Admiral!
Spoke to them earlier which was a complete waste of time. The price was the price, the only way of changing it was to increase the excess or reduce the milage, so for whatever reason, at mid 30's they now deem me over 50% more likely to claim than last year. The value of 1 year's insurance is now more than 20% of the car's value, for a 150,000 mile Ford Focus!
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