Are insurance premiums going down?

[anonymous-user]

Well insurance renewal time has arrived so the big question is am I going to be paying more this year than last year? I know there have been a lot of stories in the media about prices heading down but is it true?

Well got a quote from my existing insurer and still can't quite believe it but it is over a third less than last year, less than £200 fully comp on a 2005 Audi B7 S4 Avant with over 9 years NCD and in my mid 40's.

Are other people seeing the same reductions in premium?

[Alucidnation]

Sounds like a good price.

Who was that with?

[ben5732]

I paid less than last year, 25 years old on an 08 plate T5 v70 was paying 600 last year now 450

[kambites]

I read somewhere recently that the average price had fallen in the last year.

[BullyB]

Mine has gone down every year including the upgrading of cars. Only exception was my track car which rose when I declared the modifications.
£300 for a 996 C4S this year, happy days

[Mr Happy]

My renewal quote from my current insurer went down by 6% from last year's price, however after the briefest of shop-around sessions I'm looking at a decrease of around 45-65%. (£1300ish to £500-£750)

I suspect that this year should mean significantly cheaper insurance!

[anonymous-user]

I was insured for a long time with NFU but choked when the premium got to £1000, I know they are expensive but I liked the personal service which I don't mind paying a bit more for but not as much as they seem to think it was worth.

Went to Admiral and saved over £500 the year before last and last year was Direct Line and saved even more.

Being loyal is a recipe to get shafted big time as far as insurance is concerned, the trouble is you don't find out how good or bad they are unless you need to make claim and then you find out they were cheap for a reason.

[Lowtimer]

Mine have gone down quite sharply in each of the last two years, on both cars.

[Cutmore]

I'm still young enough for my insurance to drop a lot.

22, Corsa Exclusiv 1.4 - ~400. Would have been cheaper if I didn't get hit my a drunk, uninsured driver too. NCB 4 years down to 1.

Last year I paid around 1,000 to insure my Fabia vRS.

[BricktopST205]

I pay just a smidge under £600 for two cars on a multicar policy. Nissan Primera GT and Celica GT-Four ST205. Both cars on a modded policy with one car being a import. 27 with 6 years NCB and 1 year NCB on the Primera. I was pleasantly surprised as I had 1k set aside for insurance where as now I have 400 left over for some track rubber .

[JimminyBob]

£1000 last year, £680 this year. I suspect it has more to do with being 19 with 2 years NCB though.

[jkh112]

After a few years of fairly stagnant insurance premiums on my 996, I have just renewed the policy and the premium was less than half what it had been. Less than £200 for a Porsche with business use and breakdown cover seems like a very keen price.

[DonnyMac]

Over the past few years I've had a number of concurrent insured vehicles at fairly hefty premiums -

Maserati £900-£1100
Atom £800-1000
SLK £600-£900

I recently bought a GT-R so was expecting another £800-£1000 to shell out, but on doing the standard rounds called Admiral - again they tried to sell me the multicar which I recall being an utter PITA to arrange...

No, put the Maserati (11 months), GT-R (12 months) & SLK (4 months) all in for £900 something!

Sadly, they didn't have a clue what the Atom is so that's with flux for £600 ish (renewed last week).

So, first off a massive thumbs up to Admiral Multicar, amazed at the saving and yes, it seems that for me anyhow, insurance prices have plummeted.

I'm knocking on 40 and live in a pretty dire postcode for insurance purposes - Concrete Croydon.

[paulwoof]

Got my renewal through from elephant, 2nd year in a row they have snuck it up the bar stewards, was £440 last year for my 21 year old self with 1 years no claims on my DC2 type R, im now 22 with 2 years no claims and the price is now £695

went over to diamond and got a qoute of £376, funny how diamond and elephant are owned by the same company, If it wasnt for diamond being so cheap i would love to tell them to jog on, such is life.

[Buff Mchugelarge]

I was quite surprised when running quotes the other day,
I do think insurance has dropped.
Yes, I've got older, and gained a bit of NCB but it's quite a big drop since I ran the same kinda of quotes a month or so ago.



Wonder if they're worrying about a backlash over high pricing?

ETA 33, I have a '01 Seicento Sporting @£400 Fully Comp. 0 NCB
'03 SportKA £800 Fully Comp inc. 1 years NCB..
My Postcode must be Really awfull?!

Edited by Buff Mchugelarge on Sunday 2nd February 19:53

[BricktopST205]

DonnyMac said:

Over the past few years I've had a number of concurrent insured vehicles at fairly hefty premiums -

Maserati £900-£1100
Atom £800-1000
SLK £600-£900

I recently bought a GT-R so was expecting another £800-£1000 to shell out, but on doing the standard rounds called Admiral - again they tried to sell me the multicar which I recall being an utter PITA to arrange...

No, put the Maserati (11 months), GT-R (12 months) & SLK (4 months) all in for £900 something!

Sadly, they didn't have a clue what the Atom is so that's with flux for £600 ish (renewed last week).

So, first off a massive thumbs up to Admiral Multicar, amazed at the saving and yes, it seems that for me anyhow, insurance prices have plummeted.

I'm knocking on 40 and live in a pretty dire postcode for insurance purposes - Concrete Croydon.

Admiral multicar are fantastic with this. One car needed to go on a 3 month policy to align with my other cars renewal. As it was over 90 days (Just). They gave me a full years no claim for the trouble.

[liner33]

I think they are , I am paying less than £500 for both my '12 370z and my '12 Fabia VRS , both fully comp and both on separate policies , same insurer though AXA

[HTP99]

Last year when the renewal came through from Direct Line it had gone down even though the wife had had a fault claim in the summer.

This year it had gone down even more, however I still found the same cover 30% cheaper elsewhere; we are in our late 30's and have over 9 years NCB so it's not as if we had hit an age milestone to make the premium cheaper.

[M3DGE]

Yep, it's good news guys! It's a combination of factors; insurance pricing is cyclical - when insurers start making money they cut prices to gain market share, so pretty soon the market loses money and up go the prices - and we are at the 'bottom' of the cycle right now. On top of this, a clamp down on 'cash for crash' claims, continuing thief-proofness of modern cars, a ban on referral fees to ambulance chasers and a good (ie not ice or snow) winter and Bob's your proverbial. Make the most of it, the companies will be bleeding again this time next year and off we go again...

[Mercury00]

Mine only fell by £22 this year, although every little helps I suppose. One funny thing is that I was paying £400 about six years ago, and then suddenly it went up after that to £800 some years. I had no accidents or claims, it just went up for some reason. It was only last year that it fell the that price once again.