Car insurance seems pricey, am I missing something
Discussion
2 years no claim
Essex village, not particularly a crime hotspot
Very sensible Peugeot 308 diesel, 7 years old
No points in 5 years (speeding course 3 years ago)
One named driver at different address who had a no fault accident 3 years ago (driven into).
Sales engineer
£418 from a company I've never heard of. Direct Line wanted £1100 ???
Does this sound right?
Essex village, not particularly a crime hotspot
Very sensible Peugeot 308 diesel, 7 years old
No points in 5 years (speeding course 3 years ago)
One named driver at different address who had a no fault accident 3 years ago (driven into).
Sales engineer
£418 from a company I've never heard of. Direct Line wanted £1100 ???
Does this sound right?
Doesn’t seem massively out of line.
People can call it a piss take or whatever but insurers aren’t immune to inflation, particularly the issues causes in parts supply etc which drove claims costs through the roof. As is repeatedly said, nobody is making huge margins on mainstream insurance so generally it’s pretty reasonable value and you have easy ways to compare across a large range of providers to find the most favourable price for yourself.
ETA: direct line made a loss on motor insurance last year and cancelled any dividend, their prices will have risen since because they simply had to but it isn’t like they are creaming hundreds of millions off the business.
People can call it a piss take or whatever but insurers aren’t immune to inflation, particularly the issues causes in parts supply etc which drove claims costs through the roof. As is repeatedly said, nobody is making huge margins on mainstream insurance so generally it’s pretty reasonable value and you have easy ways to compare across a large range of providers to find the most favourable price for yourself.
ETA: direct line made a loss on motor insurance last year and cancelled any dividend, their prices will have risen since because they simply had to but it isn’t like they are creaming hundreds of millions off the business.
Direct line seem to have lost their way in terms of car insurance. I used to use them often about 15 years or so ago but now they have removed themselves from the comparison sites and if you get a quote directly from them it’s much more expensive. Hardly surprising they don’t make any money out of it.
Mark V GTD said:
Direct line seem to have lost their way in terms of car insurance. I used to use them often about 15 years or so ago but now they have removed themselves from the comparison sites and if you get a quote directly from them it’s much more expensive. Hardly surprising they don’t make any money out of it.
Direct Line have never been on Comparison sites, they make a point of mentioning it)Record isn’t squeaky clean but based on that information DL does sound expensive and the other possibly more in line.
If you have never heard of them though then would do some research - you don’t want a “ cheap “ policy to potentially equate to a cheap service should the worst happen potentially.
If you have never heard of them though then would do some research - you don’t want a “ cheap “ policy to potentially equate to a cheap service should the worst happen potentially.
If Direct Line were on a comparison site they may have been able to make their prices competitive and keep up with other insurers.
I don't want to waste my time speaking to somebody on the telephone answering questions to get a quote for car insurance. I'd much rather complete it online, get an instant series of quotes and then decide who I'm going with - in almost all cases the cheapest on offer.
The following year I just refresh the quote altering any questions as required - 2 mins of a job.
I don't want to waste my time speaking to somebody on the telephone answering questions to get a quote for car insurance. I'd much rather complete it online, get an instant series of quotes and then decide who I'm going with - in almost all cases the cheapest on offer.
The following year I just refresh the quote altering any questions as required - 2 mins of a job.
I have been with LV= for the last five years. Two cars and home insurance. Home insurance is a little pricey but they have kept the cars at the same price or dropped a few quid each year so on balance ok. I have changed one of the cars a couple of times in that period and have been charged no admin fee or any silliness like that. I haven’t had to claim and so can’t comment on that but so far So good. Fwiw, Greater Manchester, s
t postcode, Polo Gti on driveway, 991 C2S in garage, each at ~£320.
I guess it all depends on claims in your postcode but my gut reaction is that your quotes sound high.
t postcode, Polo Gti on driveway, 991 C2S in garage, each at ~£320.I guess it all depends on claims in your postcode but my gut reaction is that your quotes sound high.
Armitage.Shanks said:
If Direct Line were on a comparison site they may have been able to make their prices competitive and keep up with other insurers.
I don't want to waste my time speaking to somebody on the telephone answering questions to get a quote for car insurance. I'd much rather complete it online, get an instant series of quotes and then decide who I'm going with - in almost all cases the cheapest on offer.
The following year I just refresh the quote altering any questions as required - 2 mins of a job.
All of the below will probably be ignored but I’ll type it anyway. I don't want to waste my time speaking to somebody on the telephone answering questions to get a quote for car insurance. I'd much rather complete it online, get an instant series of quotes and then decide who I'm going with - in almost all cases the cheapest on offer.
The following year I just refresh the quote altering any questions as required - 2 mins of a job.
Direct Line have a website that you can use, so you don’t need to talk to anyone.
They also own Churchill and Privilege insurance, both of which are on comparison websites and the prices are broadly similar.
They also lost a s
t ton of money last year so need to refine their customers and decide whether to just step away for a few years to avoid another year like last. Losing £45m vs a £450m profit the year before. https://www.sharecast.com/amp/news/news-and-announ...
It’s just had a kicking off the regulator about wrote off claims for the past 5 years so even more money to pay out that they’ll want to recoup.
One other thing is that like everybody and every business they are still subject to increasing costs. Operational costs like staff salaries, rent, utilities, NI etc are all going up, as are the things they insure like car prices, paint, labour costs in body shops, parts and so on.
It’s still cheap compared to many other nearby countries given how much it covers.
LF5335 said:
All of the below will probably be ignored but I’ll type it anyway.
Direct Line have a website that you can use, so you don’t need to talk to anyone.
They also own Churchill and Privilege insurance, both of which are on comparison websites and the prices are broadly similar.
They also lost a st ton of money last year so need to refine their customers and decide whether to just step away for a few years to avoid another year like last. Losing £45m vs a £450m profit the year before.
https://www.sharecast.com/amp/news/news-and-announ...
It’s just had a kicking off the regulator about wrote off claims for the past 5 years so even more money to pay out that they’ll want to recoup.
One other thing is that like everybody and every business they are still subject to increasing costs. Operational costs like staff salaries, rent, utilities, NI etc are all going up, as are the things they insure like car prices, paint, labour costs in body shops, parts and so on.
It’s still cheap compared to many other nearby countries given how much it covers.
Direct Line have a website that you can use, so you don’t need to talk to anyone.
They also own Churchill and Privilege insurance, both of which are on comparison websites and the prices are broadly similar.
They also lost a s
t ton of money last year so need to refine their customers and decide whether to just step away for a few years to avoid another year like last. Losing £45m vs a £450m profit the year before. https://www.sharecast.com/amp/news/news-and-announ...
It’s just had a kicking off the regulator about wrote off claims for the past 5 years so even more money to pay out that they’ll want to recoup.
One other thing is that like everybody and every business they are still subject to increasing costs. Operational costs like staff salaries, rent, utilities, NI etc are all going up, as are the things they insure like car prices, paint, labour costs in body shops, parts and so on.
It’s still cheap compared to many other nearby countries given how much it covers.
Spot on.
LF5335 said:
All of the below will probably be ignored but I’ll type it anyway.
Direct Line have a website that you can use, so you don’t need to talk to anyone.
They also own Churchill and Privilege insurance, both of which are on comparison websites and the prices are broadly similar.
They also lost a st ton of money last year so need to refine their customers and decide whether to just step away for a few years to avoid another year like last. Losing £45m vs a £450m profit the year before.
https://www.sharecast.com/amp/news/news-and-announ...
It’s just had a kicking off the regulator about wrote off claims for the past 5 years so even more money to pay out that they’ll want to recoup.
One other thing is that like everybody and every business they are still subject to increasing costs. Operational costs like staff salaries, rent, utilities, NI etc are all going up, as are the things they insure like car prices, paint, labour costs in body shops, parts and so on.
It’s still cheap compared to many other nearby countries given how much it covers.
Just to assure you I have read your intelligent post and learnt from it. Direct Line have a website that you can use, so you don’t need to talk to anyone.
They also own Churchill and Privilege insurance, both of which are on comparison websites and the prices are broadly similar.
They also lost a s
t ton of money last year so need to refine their customers and decide whether to just step away for a few years to avoid another year like last. Losing £45m vs a £450m profit the year before. https://www.sharecast.com/amp/news/news-and-announ...
It’s just had a kicking off the regulator about wrote off claims for the past 5 years so even more money to pay out that they’ll want to recoup.
One other thing is that like everybody and every business they are still subject to increasing costs. Operational costs like staff salaries, rent, utilities, NI etc are all going up, as are the things they insure like car prices, paint, labour costs in body shops, parts and so on.
It’s still cheap compared to many other nearby countries given how much it covers.
I am always a reliable OP, if someone takes the time to answer I acknowledge their help.
Hammersia said:
Just to assure you I have read your intelligent post and learnt from it.
I am always a reliable OP, if someone takes the time to answer I acknowledge their help.
Thank you, to be a bit more specific about your personal circumstances as referenced in your opening comment, the simple answer is you as an individual don’t matter when it comes to pricing your insurance. What does matter is people who share your personal circumstances. What happens is you are put into pots, so everyone in rural Essex is viewed the same, all Sales engineers are viewed the same etc. some of those pots will have good claims records some bad, some very close to what the insurer predicted. As a result your price comes out based on the aggregation of hundreds or even thousands of people and their claims in each pot, which are then rolled up to produce your individual quote. I am always a reliable OP, if someone takes the time to answer I acknowledge their help.
What that means is what you do doesn’t directly affect your price unless you claim. If you claim for a fault claim it will have an adverse impact, if you claim for a non fault it may or may not have an adverse impact. If you don’t claim, then you’re at the mercy of everyone else who you share pots with and other market forces. None of which you have any control over. Sometimes it’s good news and prices go down, other times it’s bad news, like this year.
LF5335 said:
Thank you, to be a bit more specific about your personal circumstances as referenced in your opening comment, the simple answer is you as an individual don’t matter when it comes to pricing your insurance. What does matter is people who share your personal circumstances. What happens is you are put into pots, so everyone in rural Essex is viewed the same, all Sales engineers are viewed the same etc. some of those pots will have good claims records some bad, some very close to what the insurer predicted. As a result your price comes out based on the aggregation of hundreds or even thousands of people and their claims in each pot, which are then rolled up to produce your individual quote.
What that means is what you do doesn’t directly affect your price unless you claim. If you claim for a fault claim it will have an adverse impact, if you claim for a non fault it may or may not have an adverse impact. If you don’t claim, then you’re at the mercy of everyone else who you share pots with and other market forces. None of which you have any control over. Sometimes it’s good news and prices go down, other times it’s bad news, like this year.
What that means is what you do doesn’t directly affect your price unless you claim. If you claim for a fault claim it will have an adverse impact, if you claim for a non fault it may or may not have an adverse impact. If you don’t claim, then you’re at the mercy of everyone else who you share pots with and other market forces. None of which you have any control over. Sometimes it’s good news and prices go down, other times it’s bad news, like this year.
Armitage.Shanks said:
If Direct Line were on a comparison site they may have been able to make their prices competitive and keep up with other insurers.
I don't want to waste my time speaking to somebody on the telephone answering questions to get a quote for car insurance. I'd much rather complete it online, get an instant series of quotes and then decide who I'm going with - in almost all cases the cheapest on offer.
The following year I just refresh the quote altering any questions as required - 2 mins of a job.
I have been with DL for as long as I can remember and for me they are as cheap as any other insurer. I don't want to waste my time speaking to somebody on the telephone answering questions to get a quote for car insurance. I'd much rather complete it online, get an instant series of quotes and then decide who I'm going with - in almost all cases the cheapest on offer.
The following year I just refresh the quote altering any questions as required - 2 mins of a job.
Everything is done on line and I can't remember ever having to talk to anyone.
I had a non fault accident a few years back and they were quick and efficient, and the write off offer was exactly what the car was worth.
In short I'm a happy customer of theirs.
Edited by 98elise on Friday 30th June 15:50
Hammersia said:
2 years no claim
Essex village, not particularly a crime hotspot
Very sensible Peugeot 308 diesel, 7 years old
No points in 5 years (speeding course 3 years ago)
One named driver at different address who had a no fault accident 3 years ago (driven into).
Sales engineer
£418 from a company I've never heard of. Direct Line wanted £1100 ???
Does this sound right?
I'd guess 'sales engineer' is what's costing you?Essex village, not particularly a crime hotspot
Very sensible Peugeot 308 diesel, 7 years old
No points in 5 years (speeding course 3 years ago)
One named driver at different address who had a no fault accident 3 years ago (driven into).
Sales engineer
£418 from a company I've never heard of. Direct Line wanted £1100 ???
Does this sound right?
I paid £220 last year, which quite frankly was silly cheap:
2021 leased Abarth 595
2 drivers, im 37, wife is 34
Commuting & business use
£0 voluntary excess
£0 compulsory excess
This year renewal cost through at £330, I thought they were trying the usual "bump up the renewal offer" but after digging around it was indeed the best I could find.
2021 leased Abarth 595
2 drivers, im 37, wife is 34
Commuting & business use
£0 voluntary excess
£0 compulsory excess
This year renewal cost through at £330, I thought they were trying the usual "bump up the renewal offer" but after digging around it was indeed the best I could find.
OutInTheShed said:
Hammersia said:
2 years no claim
Essex village, not particularly a crime hotspot
Very sensible Peugeot 308 diesel, 7 years old
No points in 5 years (speeding course 3 years ago)
One named driver at different address who had a no fault accident 3 years ago (driven into).
Sales engineer
£418 from a company I've never heard of. Direct Line wanted £1100 ???
Does this sound right?
I'd guess 'sales engineer' is what's costing you?Essex village, not particularly a crime hotspot
Very sensible Peugeot 308 diesel, 7 years old
No points in 5 years (speeding course 3 years ago)
One named driver at different address who had a no fault accident 3 years ago (driven into).
Sales engineer
£418 from a company I've never heard of. Direct Line wanted £1100 ???
Does this sound right?
My OP might have been a bit misleading, I wasn't making it specifically about Direct Line, although their quote was surprising. Just that my insurance from the search engines seems high.
Kirkmoly said:
I have been with LV= for the last five years. Two cars and home insurance. Home insurance is a little pricey but they have kept the cars at the same price or dropped a few quid each year so on balance ok. I have changed one of the cars a couple of times in that period and have been charged no admin fee or any silliness like that. I haven’t had to claim and so can’t comment on that but so far So good. Fwiw, Greater Manchester, st postcode, Polo Gti on driveway, 991 C2S in garage, each at ~£320.
I guess it all depends on claims in your postcode but my gut reaction is that your quotes sound high.
I've been with LV for a few years too - GM as well. I a claim in my first year where a guy pulled out of a side road into me. Had a courtesy car the same day and paid out within 10 days. My claims experience with LV is therefore very good! Been with them ever since.t postcode, Polo Gti on driveway, 991 C2S in garage, each at ~£320.I guess it all depends on claims in your postcode but my gut reaction is that your quotes sound high.
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