Has your insurance gone up?
Discussion
I've now started the hunt for insurance as renewal coming up in May.
Has anyone else noticed that EU cover on most policies is now only the minimum cover (third party in most cases)?
It used to be comprehensive on most for 30 days or so, then third party. Admiral is 90 days comprehensive. But I'm finding a lot of insurers will not provide any comprehensive cover for driving abroad at all.
It seems we are paying more for less cover.
Has anyone else noticed that EU cover on most policies is now only the minimum cover (third party in most cases)?
It used to be comprehensive on most for 30 days or so, then third party. Admiral is 90 days comprehensive. But I'm finding a lot of insurers will not provide any comprehensive cover for driving abroad at all.
It seems we are paying more for less cover.
It will be blamed on Brexit no doubt, but thankfully I have no plans to go abroad!
I've only had 2 experiences of Admiral, the first was when they made my nephews' E46 a Cat S without even looking at it in 2018 and the second when one of their policyholders hit the rear of my 330i last year. They made that a Cat N after their suggested bodyshop sent them a padded out estimate, but didn't bother to tell me for a couple of weeks.
Based on that I'd never insure with them.
I've only had 2 experiences of Admiral, the first was when they made my nephews' E46 a Cat S without even looking at it in 2018 and the second when one of their policyholders hit the rear of my 330i last year. They made that a Cat N after their suggested bodyshop sent them a padded out estimate, but didn't bother to tell me for a couple of weeks.
Based on that I'd never insure with them.
aturnick54 said:
I've now started the hunt for insurance as renewal coming up in May.
Has anyone else noticed that EU cover on most policies is now only the minimum cover (third party in most cases)?
It used to be comprehensive on most for 30 days or so, then third party. Admiral is 90 days comprehensive. But I'm finding a lot of insurers will not provide any comprehensive cover for driving abroad at all.
It seems we are paying more for less cover.
I noticed this with Direct Line, you now need what they call Comprehensive+ cover Has anyone else noticed that EU cover on most policies is now only the minimum cover (third party in most cases)?
It used to be comprehensive on most for 30 days or so, then third party. Admiral is 90 days comprehensive. But I'm finding a lot of insurers will not provide any comprehensive cover for driving abroad at all.
It seems we are paying more for less cover.
, AXA has it as standard. lemonslap said:
aturnick54 said:
I've now started the hunt for insurance as renewal coming up in May.
Has anyone else noticed that EU cover on most policies is now only the minimum cover (third party in most cases)?
It used to be comprehensive on most for 30 days or so, then third party. Admiral is 90 days comprehensive. But I'm finding a lot of insurers will not provide any comprehensive cover for driving abroad at all.
It seems we are paying more for less cover.
I noticed this with Direct Line, you now need what they call Comprehensive+ cover Has anyone else noticed that EU cover on most policies is now only the minimum cover (third party in most cases)?
It used to be comprehensive on most for 30 days or so, then third party. Admiral is 90 days comprehensive. But I'm finding a lot of insurers will not provide any comprehensive cover for driving abroad at all.
It seems we are paying more for less cover.
, AXA has it as standard. Well my experience with Compare The Market just now didn't go well. 
I got some quotes last week for just under £200 and went back to get cover sorted for the 25th, then realised I hadn't declared the non-fault claim I had following an incident on 12 May last year. Someone hit me in the back at a set of lights and I had the misery of claiming from his insurer, Admiral.
Anyway I added that and suddenly the cheapest quote was over £280.
So it looks like a non-fault claim does make a difference, but I can't see how they justify that.
I got some quotes last week for just under £200 and went back to get cover sorted for the 25th, then realised I hadn't declared the non-fault claim I had following an incident on 12 May last year. Someone hit me in the back at a set of lights and I had the misery of claiming from his insurer, Admiral.
Anyway I added that and suddenly the cheapest quote was over £280.
So it looks like a non-fault claim does make a difference, but I can't see how they justify that.
Speed 3 said:
I looked out for this as we're spending next winter in Italy but all the ones I got quoted for don't have this degradation. In the end we went with SAGA for the M340i (jees that's the first sign of getting old) and they're 180 days at the same level of cover as UK.
I think Saga cover Turkey too. One of few UK insurers who do, along with LV and NFU.Renewal for my heavily modded Focus RS came in £25 up on last year which isn't too bad - however as the car is now 20 years old insurers have suggested it being more sensible to move it to a modified modern classic policy, instead of renewing it as is with NCB attached, etc, and that brings the premium down £100 to about £325 so happy with that.
Although the other option is to just bung it on a SORN / laid up policy as that's only £150 and would probably be more sensible given i'd put it on a road policy the last couple of years and it never went anywhere apart from on the back of a transporter for any work. More mileage travelling around on the transporter than the mini trips round the block on the industrial unit of the specialist(s) it went to
Although the other option is to just bung it on a SORN / laid up policy as that's only £150 and would probably be more sensible given i'd put it on a road policy the last couple of years and it never went anywhere apart from on the back of a transporter for any work. More mileage travelling around on the transporter than the mini trips round the block on the industrial unit of the specialist(s) it went to
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?
Repair costs up 31% from £4.7bn in 2022 to £6.1bn in 2023.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?
Theft claims up 23% from £543m in 2022 to £669m 2023.
Car replacement costs up 35% from £444m in 2022 to £597m in 2023.
https://www.thisismoney.co.uk/money/bills/article-...
Square Leg said:
My 18 yo lad just had his renewal - with 1 years NCD it’s gone up £6 to £966 with a black box.
2017 Fabia…75bhp.
Honestly, this isn’t bad.2017 Fabia…75bhp.
When I learned to drive (>15 years ago) the first year insurance premium was £1,000 for an Aygo (1.0l, 65bhp). Inflation adjusted, that’s £1,700 today.
£2,000 for young drivers these days is far from uncommon.
brickwall said:
Square Leg said:
My 18 yo lad just had his renewal - with 1 years NCD it’s gone up £6 to £966 with a black box.
2017 Fabia…75bhp.
Honestly, this isn’t bad.2017 Fabia…75bhp.
When I learned to drive (>15 years ago) the first year insurance premium was £1,000 for an Aygo (1.0l, 65bhp). Inflation adjusted, that’s £1,700 today.
£2,000 for young drivers these days is far from uncommon.
Shnozz said:
brickwall said:
Square Leg said:
My 18 yo lad just had his renewal - with 1 years NCD it’s gone up £6 to £966 with a black box.
2017 Fabia…75bhp.
Honestly, this isn’t bad.2017 Fabia…75bhp.
When I learned to drive (>15 years ago) the first year insurance premium was £1,000 for an Aygo (1.0l, 65bhp). Inflation adjusted, that’s £1,700 today.
£2,000 for young drivers these days is far from uncommon.
He’s been looking to change car and one of his choices is the GT86 or BRZ and has been getting quotes of around £1200, which I also don’t think is bad.
Renewal arrived today. Multicar policy with 3 drivers, 33, 46, 56 all clean licences and no claims on Cerbera 4.5, EV6 GT, Ghibli, TR6, Supra 3.0T, 500cc quad. Gone up from £2049 to £2130 but I did go from EV6 GTLS to a GT.
So, the answer is no, not gone up to speak of really and this is a renewal quote so it may even go down with a bit of shopping around and bartering.
So, the answer is no, not gone up to speak of really and this is a renewal quote so it may even go down with a bit of shopping around and bartering.
fatjon said:
Renewal arrived today. Multicar policy with 3 drivers, 33, 46, 56 all clean licences and no claims on Cerbera 4.5, EV6 GT, Ghibli, TR6, Supra 3.0T, 500cc quad. Gone up from £2049 to £2130 but I did go from EV6 GTLS to a GT.
So, the answer is no, not gone up to speak of really and this is a renewal quote so it may even go down with a bit of shopping around and bartering.
So with:So, the answer is no, not gone up to speak of really and this is a renewal quote so it may even go down with a bit of shopping around and bartering.
98elise said:
Repair costs up 31% from £4.7bn in 2022 to £6.1bn in 2023.
Theft claims up 23% from £543m in 2022 to £669m 2023.
Car replacement costs up 35% from £444m in 2022 to £597m in 2023.
https://www.thisismoney.co.uk/money/bills/article-...
...why didn't the renewal go up at least 30%? Would it have dropped 30% in normal circumstances - or do they they just think: "we're getting a couple of £K from him, that seems like enough"?Theft claims up 23% from £543m in 2022 to £669m 2023.
Car replacement costs up 35% from £444m in 2022 to £597m in 2023.
https://www.thisismoney.co.uk/money/bills/article-...
Sheepshanks said:
...why didn't the renewal go up at least 30%? Would it have dropped 30% in normal circumstances - or do they they just think: "we're getting a couple of £K from him, that seems like enough"?
Those various percentage increases are across the Industry and therefore each individual Insurer's own results in terms of losses sustained will vary.The make up of each Insurer's book will also vary especially amongst the more esoteric.
Many times on here it has been stated that the cost of Insurance has been ( and continues to be ) for some people's cover just simply " too low " or unsustainable so to an extent your last line may hold a degree of water.
In addition pricing algorithm's and underwriting strategy can and in many cases needed to change so individuals own circumstances and experience would also be looked at.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff