Has your insurance gone up?
Discussion
I have been waiting with a good degree of apprehension for the renewal quotation for a multicar policy with LV. it arrived on Friday and I was pleasantly surprised given some of the figures being quoted on this thread.
2018 Audi R8 V10 up £97 to £574, 3000 miles p.a
Golf 1.5 GT Edition up £66 to £488, 13000 miles p.a
BMW 540i X-drive up £95 to £563, 8000 miles p.a
Peugeot 308 up £76 to £344, 5000 miles p.a
Golf 1.4 up £76 to £443, 10000 miles p.a
Peugeot 106 up £64 to £192, 1000 miles p.a
22% increase but still £500 less than NFU quoted in 2023.
All drivers on maximum NCB and clean licences.
2018 Audi R8 V10 up £97 to £574, 3000 miles p.a
Golf 1.5 GT Edition up £66 to £488, 13000 miles p.a
BMW 540i X-drive up £95 to £563, 8000 miles p.a
Peugeot 308 up £76 to £344, 5000 miles p.a
Golf 1.4 up £76 to £443, 10000 miles p.a
Peugeot 106 up £64 to £192, 1000 miles p.a
22% increase but still £500 less than NFU quoted in 2023.
All drivers on maximum NCB and clean licences.
Edited by 530dTPhil on Saturday 13th April 17:31
Planetstank said:
Monkeylegend said:
Not for all of us.
My 2015 BMW 528i cost me £250 last September and I have been pondering getting an F Type as a second car and have got quotes starting at £520 with zero no claims. If I can find somebody to mirror my full no claims, or get a multi car policy it will be even cheaper.
Even a 2018 M5 is only £745 with zero no claims.
Would be 5x the amount in London My 2015 BMW 528i cost me £250 last September and I have been pondering getting an F Type as a second car and have got quotes starting at £520 with zero no claims. If I can find somebody to mirror my full no claims, or get a multi car policy it will be even cheaper.
Even a 2018 M5 is only £745 with zero no claims.
New (old) bike...
And no NCD as it's used elsewhere. 9 years would have saved me £3.
Swinton said:
Payment confirmation
Please keep this information for your records.
The amount you paid:
£69.41Total
The amount you paid includes the cost of your insurance which was £34.41 and a Swinton fee called a “service charge” of £35.00.
Less £26 cashback, obv. So £43.41Please keep this information for your records.
The amount you paid:
£69.41Total
The amount you paid includes the cost of your insurance which was £34.41 and a Swinton fee called a “service charge” of £35.00.
And no NCD as it's used elsewhere. 9 years would have saved me £3.
LF5335 said:
Pan Pan Pan said:
Does anyone know the reasons behind why insurance premiums have gone up so much?
Could it be that there are more uninsured drivers on the roads, and insurance companies must recoup the cost of a driver being hit by one of these, from those who `do' actually pay for their insurance?
Could it be that EVs are a problem for insurance companies, because of their very high initial purchase costs, and because it does not take too much damage to an EV, for it to be written off by the insurance company. This may also be affected by the insurance companies not wanting to charge vast premiums (commensurate with an EVs high purchase price) to insure an EV, so as to help encourage the public to buy an EV, over an ICEV?
Could it be that the general standard of driving is going down, only held in check by the relative safety of modern vehicles? Could it be that the increased volume of traffic on UK roads, means that the chances of having an RTA for everyone has increased.
Could it be that cost of accident litigation, accident repairs, and replacement parts, has massively increased in the last couple of years?
Anyone got any ideas why insurance for even `ordinary' cars has rocketed so much?
Rampant inflation. Could it be that there are more uninsured drivers on the roads, and insurance companies must recoup the cost of a driver being hit by one of these, from those who `do' actually pay for their insurance?
Could it be that EVs are a problem for insurance companies, because of their very high initial purchase costs, and because it does not take too much damage to an EV, for it to be written off by the insurance company. This may also be affected by the insurance companies not wanting to charge vast premiums (commensurate with an EVs high purchase price) to insure an EV, so as to help encourage the public to buy an EV, over an ICEV?
Could it be that the general standard of driving is going down, only held in check by the relative safety of modern vehicles? Could it be that the increased volume of traffic on UK roads, means that the chances of having an RTA for everyone has increased.
Could it be that cost of accident litigation, accident repairs, and replacement parts, has massively increased in the last couple of years?
Anyone got any ideas why insurance for even `ordinary' cars has rocketed so much?
Mr Dendrite said:
Audi RS4
2021 £563
2022 £561
2023 £775
Working out costs on cars. Asked the broker for quote as if I wanted to insure it now, not due till September.
£1200
I might be changing car this year
The actual car being insured does not seem to be the main reason, for what is causing the large rise in premiums.2021 £563
2022 £561
2023 £775
Working out costs on cars. Asked the broker for quote as if I wanted to insure it now, not due till September.
£1200
I might be changing car this year
If you have had a years motoring with no accidents, or claims, a car that is a year older, and is therefore is worth less. An increased no claims period, one might reasonably expect your insurance premium to go down, and not up. It must therefore be down to other reasons, why insurance companies have hiked their premiums so much. The question is what?
Monkeylegend said:
I am lucky to be living in a quiet rural area with a very low risk post code.
Our post code is like that - but it didn't seem to matter this year - renewal was +68% although dropped a bit when I rang up (which makes me feel there was a "let's see what we can get away with" element in the renewal quote).soad said:
Basically the commoner has to pay for all these plebs crashing their EV's on their salary sacrifice and/or JLR that cannot be bothered to put the right measures in their cars to stop them getting nicked. I have 3 cars in the household. My total is about a grand a year so i cannot complain as I live in the countryside. Even still that is around £200 more than last year.
My daughter will be 17 this September and a lot of quotes were around £1500 last year but checking now they are closer to 3 grand!
Sheepshanks said:
Monkeylegend said:
I am lucky to be living in a quiet rural area with a very low risk post code.
Our post code is like that - but it didn't seem to matter this year - renewal was +68% although dropped a bit when I rang up (which makes me feel there was a "let's see what we can get away with" element in the renewal quote).One of the benefits of being old but not too old. Another few years and it will be at least double if not more than it is now.
Pan Pan Pan said:
Which is caused by what? The price of car insurance seems to have gone up, by far more than inflation alone.
When you see the headline inflation figure it is not an absolute figure. Some things will go up more than it, some less, some the same. There have been figures reported on here of the more common parts of claims and the increase in cost. Sadly, some who admit they know nothing are dismissing them because they then claim to know something. I renewed in March for just under £400 after a bit of shopping around. 2021 XC40 T5 phev.
I thought it was a bit expensive, as I paid that for an M140i the year before.
However, current prices were put into perspective when I cleared out some old paperwork last week, and found some old insurance docs.
After 20 years of mostly company cars, I took voluntary redundancy in 2009 and had to buy my own car. I got a brand new Fiat Qubo 1.3 diesel, a mini MPV with almost zero performance and correspondingly low insurance group. Insurer gave me a few years NCB because of having a company car.
It cost me £230.
Until a couple of years ago, no matter what I was driving, insurance was always around £200, and certainly less than £300.
I get the impression that, for low-risk drivers in good areas, the cost of insurance has just been very low (maybe too low, to buy market share?) for a long time. Recently it has become more realistic.
Probably still increased by less than other goods and services over the past 15 years though.
I thought it was a bit expensive, as I paid that for an M140i the year before.
However, current prices were put into perspective when I cleared out some old paperwork last week, and found some old insurance docs.
After 20 years of mostly company cars, I took voluntary redundancy in 2009 and had to buy my own car. I got a brand new Fiat Qubo 1.3 diesel, a mini MPV with almost zero performance and correspondingly low insurance group. Insurer gave me a few years NCB because of having a company car.
It cost me £230.
Until a couple of years ago, no matter what I was driving, insurance was always around £200, and certainly less than £300.
I get the impression that, for low-risk drivers in good areas, the cost of insurance has just been very low (maybe too low, to buy market share?) for a long time. Recently it has become more realistic.
Probably still increased by less than other goods and services over the past 15 years though.
clockworks said:
Until a couple of years ago, no matter what I was driving, insurance was always around £200, and certainly less than £300.
I get the impression that, for low-risk drivers in good areas, the cost of insurance has just been very low (maybe too low, to buy market share?) for a long time. Recently it has become more realistic.
What's changed is the FCA's price walking rules have been enforced with increasing rigor.I get the impression that, for low-risk drivers in good areas, the cost of insurance has just been very low (maybe too low, to buy market share?) for a long time. Recently it has become more realistic.
EmilA said:
Multi car insurance last year - 1350
Renewal this year - 2400
Doing them separately on compare the market - 1700, and includes one car with 0 NCB as they mirrored it before.
I've still got 3 weeks till renewal so will run a few more comparisons before hand.
Go back to your old insurer and tell them you're getting better quotes! They'll come down in price to keep your business!Renewal this year - 2400
Doing them separately on compare the market - 1700, and includes one car with 0 NCB as they mirrored it before.
I've still got 3 weeks till renewal so will run a few more comparisons before hand.
My Ford Fiesta renewal came in today, nothing changed from last year.. Gone up from £280 to £588 with Direct Line, rang them as needed to increase mileage from 13k to 15k “that will be £722 sir”… Had a shop about and got the same cover from Axa for £410. Still a big increase on last year!
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