Has your insurance gone up?

[LF5335]

Why would every insurer up their prices significantly? Apparently inflation isn’t a thing. Seems strange that they would all randomly increase prices, so they must be colluding.

[e-honda]

LF5335 said:

Why would every insurer up their prices significantly? Apparently inflation isn’t a thing. Seems strange that they would all randomly increase prices, so they must be colluding.

So that is your understanding of economics?
If prices increase across an industry that is down to either genuine increased costs across the board, or colluding?
No other possibilities?
What about a leading company chose to seize an opportunity to increase margin, and the rest of the market increased prices in response?
What about costs going up disproportionately for a leading company, and the rest of the market raising prices in response?
What about many companies all seizing the same opertunity to increase margin?
What about multiple companies all making similar incorrect assumptions?

What about a complex patchwork of some or all the possibilities mentioned above, plus many more, which include substantial increased costs which no one has ever been denying.

Saying "apparently inflation isn't a thing" is yet again another one or your stawmen.
Very easy to prove there has been inflation so you win your imaginary argument.
No one has ever been claiming there has been no inflation what is being discussed is do we think the price rises are proportional and fair or not, that is a far more complex topic.

[LF5335]

I’m more than likely a lot more capable of understanding market forces than you are. However, I thought the whole insurance thing was a racket, at least that’s what you’ve been claiming and that it makes no sense.

[e-honda]

LF5335 said:

I’m more than likely a lot more capable of understanding market forces than you are. However, I thought the whole insurance thing was a racket, at least that’s what you’ve been claiming and that it makes no sense.

I've never been saying those things, I have been saying things like the companies act opportunistically to make profits where they can, and that you cannot simply look at the basic figures because they will obfuscate where and when they are making their money for reasons like maximum tax efficacy.
You have taken my words told me what I am saying, I have told you repeatedly that these things aren't what I am saying and you have ignored me.
You are having arguments with your imaginary persona of me.

Quote one thing where I have said it's a racket or words to that effect or stop telling lies.

[LF5335]

e-honda said:

I've never been saying those things, I have been saying things like the companies act opportunistically to make profits where they can, and that you cannot simply look at the basic figures because they will obfuscate where and when they are making their money for reasons like maximum tax efficacy.
You have taken my words told me what I am saying, I have told you repeatedly that these things aren't what I am saying and you have ignored me.
You are having arguments with your imaginary persona of me.

Quote one thing where I have said it's a racket or words to that effect or stop telling lies.

I’ve no idea what your point is then. You seem to be saying that companies exist to make profit. I’m not sure that’s such a big surprise. I’m equally unsure why you’re so upset. What do you expect them to do? Make losses?

[Roman Moroni]

Just sorted the insurance on my 88 yr old Mum on her MY15 Yaris. Her premium has gone up from £650 to £898; this was a straight forward renewal with Sainsburys. We did all the usual comparison sites but all came in at £1100+.

TBH I've tried to convince her to stop driving as she does less than 3k miles a year to go shopping, see friends etc. I explained that after insurance, tax, petrol MOT etc it would be cheaper for her to use public transport, taxis or me, but she refuses to give up her car as it's her 'independence'. I suspect this will be her last year driving as next years premium will more than likely be £1k+

[e-honda]

LF5335 said:

I’ve no idea what your point is then. You seem to be saying that companies exist to make profit. I’m not sure that’s such a big surprise. I’m equally unsure why you’re so upset. What do you expect them to do? Make losses?

I am upset because you are telling lies.
You are telling people I am saying stuff I have never said so you can try and make out that I am an idiot so you can win an argument, you have done it repeatedly it's very unpleasant to be on the receiving end of.

[LF5335]

e-honda said:

LF5335 said:

I’ve no idea what your point is then. You seem to be saying that companies exist to make profit. I’m not sure that’s such a big surprise. I’m equally unsure why you’re so upset. What do you expect them to do? Make losses?

I am upset because you are telling lies.
You are telling people I am saying stuff I have never said so you can try and make out that I am an idiot so you can win an argument, you have done it repeatedly it's very unpleasant to be on the receiving end of.

What is your point? You seem unhappy at insurance prices, I’m not exactly happy paying out a ton of money either, but I can understand the basic economics driving it. You aren’t being clear on what it is. If it’s just that they exist to make a profit and are tax efficient, then that’s what every company does the World over.

[Monkeylegend]

e-honda said:

LF5335 said:

I’ve no idea what your point is then. You seem to be saying that companies exist to make profit. I’m not sure that’s such a big surprise. I’m equally unsure why you’re so upset. What do you expect them to do? Make losses?

I am upset because you are telling lies.
You are telling people I am saying stuff I have never said so you can try and make out that I am an idiot so you can win an argument, you have done it repeatedly it's very unpleasant to be on the receiving end of.

It takes two to have an argument so maybe you should stop responding and adding fuel to the fire, so to speak.

[e-honda]

LF5335 said:

What is your point? You seem unhappy at insurance prices, I’m not exactly happy paying out a ton of money either, but I can understand the basic economics driving it. You aren’t being clear on what it is. If it’s just that they exist to make a profit and are tax efficient, then that’s what every company does the World over.

What's my point?
Stop telling lies about me.
Stop saying I have been accusing them of price fixing or conspiracy theories when I have not.
I have been perfectly clear about what I have said, you are the one who keeps making up that I have been changing it by saying I am saying one thing then another thing that I never said.

[e-honda]

Monkeylegend said:

It takes two to have an argument so maybe you should stop responding and adding fuel to the fire, so to speak.

Why should I though?
Why should I let someone continue to make stuff up to avoid derailing the thread?

[MXRod]

I am getting weird quotes just now
MX5 renew LV over £600 , Tesco £260
Skoda Karoq £700+ LV ,£650 Tesco
Now the interesting /weird quotes
Age and muscle/joint stiffness means it is time to move on from the MX5, vehicles of choice are all small VAG (not interested in other brands)
Typical quotes for Fabia/Polo/ Golf are in excess of £600 . Why when the MX5 is only £260 and the larger more expensive is the same price as the smaller cars, around £650?

[Monkeylegend]

e-honda said:

Monkeylegend said:

It takes two to have an argument so maybe you should stop responding and adding fuel to the fire, so to speak.

Why should I though?
Why should I let someone continue to make stuff up to avoid derailing the thread?

Because you came across as always needing to have the last word but then getting upset when posters say things you don't like or agree with.

Prolonged arguments just get tedious and end up with petty point scoring and as you appear to be quite sensitive sometimes it is better to step back a bit and take stock, especially when you are arguing with posters who appear to have maybe a better understanding of the industry than yourself.

Just out of interest do you actually work or have detailed knowledge of the car insurance sector?

Having said that I am sure there are many who read this thread who enjoy the drama and like watching posters maybe not doing themselves any favours and digging ever deeper holes for themselves.

[e-honda]

Monkeylegend said:

Because you came across as always needing to have the last word but then getting upset when posters say things you don't like or agree with.

Prolonged arguments just get tedious and end up with petty point scoring and as you appear to be quite sensitive sometimes it is better to step back a bit and take stock, especially when you are arguing with posters who appear to have maybe a better understanding of the industry than yourself.

Just out of interest do you actually work or have detailed knowledge of the car insurance sector?

Having said that I am sure there are many who read this thread who enjoy the drama and like watching posters maybe not doing themselves any favours and digging ever deeper holes for themselves.

The bit I have highlighted is the whole point.
You say they appear to have a better understanding of the industry than me, that not fair when people have been deliberately misquoting me and misrepresenting what I have said to make it appear that way.
Are you sure your opinion is based on things I have actually said ?

[Monkeylegend]

e-honda said:

Monkeylegend said:

Because you came across as always needing to have the last word but then getting upset when posters say things you don't like or agree with.

Prolonged arguments just get tedious and end up with petty point scoring and as you appear to be quite sensitive sometimes it is better to step back a bit and take stock, especially when you are arguing with posters who appear to have maybe a better understanding of the industry than yourself.

Just out of interest do you actually work or have detailed knowledge of the car insurance sector?

Having said that I am sure there are many who read this thread who enjoy the drama and like watching posters maybe not doing themselves any favours and digging ever deeper holes for themselves.

The bit I have highlighted is the whole point.
You say they appear to have a better understanding of the industry than me, that not fair when people have been deliberately misquoting me and misrepresenting what I have said to make it appear that way.
Are you sure your opinion is based on things I have actually said ?

Maybe if you answered the question you have been asked more than once about your actual industry experience, if any, posters might take you a bit more seriously, assuming you have worked, or still work in the industry.

I suspect though that you will ignore the question which in itself speaks volumes.

[LF5335]

MXRod said:

I am getting weird quotes just now
MX5 renew LV over £600 , Tesco £260
Skoda Karoq £700+ LV ,£650 Tesco
Now the interesting /weird quotes
Age and muscle/joint stiffness means it is time to move on from the MX5, vehicles of choice are all small VAG (not interested in other brands)
Typical quotes for Fabia/Polo/ Golf are in excess of £600 . Why when the MX5 is only £260 and the larger more expensive is the same price as the smaller cars, around £650?

The damage you can do TO your car is pretty much a known quantity

The damage you can do WITH your car isn’t.

A cheap car will (give or take) do as much damage in a crash as an expensive if they hit the same things at the same speed. The insurer prices on what they’ve experienced in claims on their existing business based on multiple variables. We don’t know what that experience or those variables are exactly, or how they all interlink, as that’s their business model and IP. Nobody knows what mark up I used to make on dishes or projected to make per cover etc at the restaurants. Or how we used to apportion the veg to control costs.

[P-Jay]

Had my renewal offer through from Admiral, £1980, up from £1050ish. Two Cars / Two drivers multicar, won't be taking that.

The Industry really has taken a dim view on my Golf R estate, I'm not sure it's the car per-se, yeah it's a higher band but not mad, maybe it's the keyless 'thing' because 2 years ago it was £300, then £500 and now £900 is the best I can find just for the Golf. No claims and I've added 2 years NCB because I only started on 2.

[Speed 3]

Renewal time on SWMBO's M340i Touring. £490 last year with AXA, renewal price £1,210, up 147%, no thanks.

Cheapest alternative is Admiral at £703 up 43% which is still steep but not unexpected. Excess is £825 which is taking the piss somewhat. Would be £100 more in premium to reduce the excess by £250.

Don't think AXA want to play in this space any more.

Still, glad we got rid of the F-Pace 3.0S for the BMW, that would be £1,150 with Admiral.

[Speed 3]

MXRod said:

I am getting weird quotes just now
MX5 renew LV over £600 , Tesco £260
Skoda Karoq £700+ LV ,£650 Tesco
Now the interesting /weird quotes
Age and muscle/joint stiffness means it is time to move on from the MX5, vehicles of choice are all small VAG (not interested in other brands)
Typical quotes for Fabia/Polo/ Golf are in excess of £600 . Why when the MX5 is only £260 and the larger more expensive is the same price as the smaller cars, around £650?

Something is odd about older 2 seaters. My Boxster S is way cheaper to insure than our M340i or even our Seat Mii. Mate's son has just bought an MX5 at 18 which is much cheaper than his Mii. I got a quote for my 20 year old daughter to be added and it was something like £7,000 on the BMW and £550 on the Porsche. I'd have thought the risk of hitting someone was the same in both.

[LF5335]

Speed 3 said:

Something is odd about older 2 seaters. My Boxster S is way cheaper to insure than our M340i or even our Seat Mii. Mate's son has just bought an MX5 at 18 which is much cheaper than his Mii. I got a quote for my 20 year old daughter to be added and it was something like £7,000 on the BMW and £550 on the Porsche. I'd have thought the risk of hitting someone was the same in both.

If you crash your car then all the passengers in the car are victims of your poor driving too and can sue you. In a two seater, that’s a maximum of one passenger, in a 4 or 5 seater that’s up to 3 or 4 passengers.

Plus as a purely random thought, I wonder how many of these 2 seaters are used as weekend toys and therefore cover fewer miles and therefore have fewer claims against them, thus making them look statistically safer. Also, the older 2 seaters are likely to need money spending on them to keep them on the road and so more likely in the hands of enthusiasts.