Car Insurance 50% hike
Discussion
Is there a forum specifically for car insurance? Couldnt find one so trying here.
Ive got two cars, both insured with Direct Line and have been for 3 or 4 years.
Each year the renewal has been about the same, one year a premium even dropped a few quid.
Both cars about £210 fully comp.
Mazda 3 2016 Petrol 2.0.
Merc SLK 200 2015.
Renewal come through and now £310 for one and £320 for another. this is almost 50% rise?! What the hell is going on?
Im obviously about to start looking round again I just cant believe the increase. yes inflation 10%, yes gas/elec has gone up but none of it is 50 friggin % higher is it?
Im 60 (two months ago this year) has that affected it?
Grrrr.
Ive got two cars, both insured with Direct Line and have been for 3 or 4 years.
Each year the renewal has been about the same, one year a premium even dropped a few quid.
Both cars about £210 fully comp.
Mazda 3 2016 Petrol 2.0.
Merc SLK 200 2015.
Renewal come through and now £310 for one and £320 for another. this is almost 50% rise?! What the hell is going on?
Im obviously about to start looking round again I just cant believe the increase. yes inflation 10%, yes gas/elec has gone up but none of it is 50 friggin % higher is it?
Im 60 (two months ago this year) has that affected it?
Grrrr.
Problem is, you weren't paying enough before!
There's been several threads on increases, such as: https://www.pistonheads.com/gassing/topic.asp?h=0&...
There's been several threads on increases, such as: https://www.pistonheads.com/gassing/topic.asp?h=0&...
44% increase on my renewal this year, no changes and car worth less as it's a year older.
Many people are reporting 20-45% increases this year. I don't see the sides of the roads filled with crashed cars.
It requires aggressive shopping around now taking quite a bit of time, some of the sites and comparisons didn't have much luck but I managed to get a policy with the AA for the same as last year in the end.
Many people are reporting 20-45% increases this year. I don't see the sides of the roads filled with crashed cars.
It requires aggressive shopping around now taking quite a bit of time, some of the sites and comparisons didn't have much luck but I managed to get a policy with the AA for the same as last year in the end.
Some companies re-adjust their models of which drivers present how much risk.
There may be winners and losers from this.
Shop around, a different company may model risks differently.
Sometimes you have to accept you've had a great deal in the past and now you have to settle for 'fair'.
Sometimes your risk changes, e.g. a spate of crime in your area.
There may be winners and losers from this.
Shop around, a different company may model risks differently.
Sometimes you have to accept you've had a great deal in the past and now you have to settle for 'fair'.
Sometimes your risk changes, e.g. a spate of crime in your area.
Sheepshanks said:
Problem is, you weren't paying enough before!
Exactly. In what world is £420 enough to cover 2 cars like that, with £50m tp property damage cover and unlimited tp injury cover. It's just madness. My insurance has gone from £360 to £480. Friends in Germany with a similar car/profile but who live in a much more rural area, pay €1300.At the moment 50% increase almost seems reasonable to me.
Bog standard Nissan X-trail, last year £490, renewal £910.
Got various quotes so far up to about £1,100, best so far is about £650.
Asked a couple 'is it me?' and its been a case of no ' that's what it is'
A couple of weeks ago reinsured my Z4, renewal was about 50% more but negotiated back down to within a few pounds of last year.
Bog standard Nissan X-trail, last year £490, renewal £910.
Got various quotes so far up to about £1,100, best so far is about £650.
Asked a couple 'is it me?' and its been a case of no ' that's what it is'
A couple of weeks ago reinsured my Z4, renewal was about 50% more but negotiated back down to within a few pounds of last year.
TwigtheWonderkid said:
Sheepshanks said:
Problem is, you weren't paying enough before!
Exactly. In what world is £420 enough to cover 2 cars like that, with £50m tp property damage cover and unlimited tp injury cover. It's just madness. My insurance has gone from £360 to £480. Friends in Germany with a similar car/profile but who live in a much more rural area, pay €1300.As I mentioned in the thread I link to, recently renewed insurance on wife's car went down 25%, but then it had gone up two years ago, was a bit cheaper last year and this year is pretty close to where it's been for years, £276 for Tiguan with £100 x/s, Class 1 biz use for four named drivers. With LV=.
Mine went from £250 to £280 this year so I called and queried it.
Dropped immediately to £217.
The companies just know that a lot of people won't bother to argue or change.
I moved 100m last year from one flat in the estate to another.
Motorbike and my daily were unchanged when I informed them of the new address.
Alfa 156 went up £100. Why? change of postcode. But I'm in the same estate and the car is parked in the same residential carpark, it hasn't moved.
Took a half hour of arguing before they dropped the increase.
Dropped immediately to £217.
The companies just know that a lot of people won't bother to argue or change.
I moved 100m last year from one flat in the estate to another.
Motorbike and my daily were unchanged when I informed them of the new address.
Alfa 156 went up £100. Why? change of postcode. But I'm in the same estate and the car is parked in the same residential carpark, it hasn't moved.
Took a half hour of arguing before they dropped the increase.
I can fully understand if a driver has had a claim. A 20 year plus NCB could be in an accident just like any other driver so they have to mitigate their potential losses. I accept a rise in premiums but not £250. If they had increased it by £50 I would have probably renewed.
The fact is and its a the first time I have ever seen it, is that your insurance will not renew unless you ask us to do so. Its great as I don't need to speak to them. Surely they are losing a lot of money by not auto renewing a certain demographic, like my parents for instance who I need to help them with insurance as they would happily renew at the prices stated.
The fact is and its a the first time I have ever seen it, is that your insurance will not renew unless you ask us to do so. Its great as I don't need to speak to them. Surely they are losing a lot of money by not auto renewing a certain demographic, like my parents for instance who I need to help them with insurance as they would happily renew at the prices stated.
Chuffedmonkey said:
The fact is and its a the first time I have ever seen it, is that your insurance will not renew unless you ask us to do so. Its great as I don't need to speak to them. Surely they are losing a lot of money by not auto renewing a certain demographic, like my parents for instance who I need to help them with insurance as they would happily renew at the prices stated.
I suspect there's regulations in place within the 2015 Insurance act or within the ABI code of conduct that prevent an insurer proceeding with auto renewal if the increase exceeds a certain percentage. Chuffedmonkey said:
I can fully understand if a driver has had a claim. A 20 year plus NCB could be in an accident just like any other driver so they have to mitigate their potential losses. I accept a rise in premiums but not £250. If they had increased it by £50 I would have probably renewed.
The fact is and its a the first time I have ever seen it, is that your insurance will not renew unless you ask us to do so. Its great as I don't need to speak to them. Surely they are losing a lot of money by not auto renewing a certain demographic, like my parents for instance who I need to help them with insurance as they would happily renew at the prices stated.
The FCA have come down very hard on insurers auto renewing it is all part of the new Product Governance and Code of Conduct rules....all implemented to protect you, the client!!!. I agree with an earlier poster, rates have been too cheap for too long. Ask yourself this question: If car insurance was not compulsory would you still buy it? I think most would as the risk is just far too high.The fact is and its a the first time I have ever seen it, is that your insurance will not renew unless you ask us to do so. Its great as I don't need to speak to them. Surely they are losing a lot of money by not auto renewing a certain demographic, like my parents for instance who I need to help them with insurance as they would happily renew at the prices stated.
Steve H said:
Ask yourself this question: If car insurance was not compulsory would you still buy it? I think most would as the risk is just far too high.
Insurance is not compulsory in NZ, however all injuries are covered by the Accident Compensation Corporation, so car insurance is only for hardware. Gave insurance up a few years ago when they wanted 500 quid for an eNV200.
It makes things much easier if I have to dig an ICE vehicle out to go on a long journey.
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