Massive Car insurance costs?

I'm confused, do you think everyone else has moved house, changed car and got 10 years younger this year?
Not sure how you read it like that??

What i meant was its clearly NOT a blanket overall increase for everyone, but rather for some people dependant on the suggested reasons. In my case no change so obviously its not just all insurance going up, its just some policies and must be to do with multi reasons to do with risk. I keep hearing people saying its gone up across the board and obviously this isnt true.
 
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Not sure how you read it like that??

What i meant was its clearly NOT a blanket overall increase for everyone, but rather for some people dependant on the suggested reasons. In my case no change so obviously its not just all insurance going up, its just some policies and must be to do with multi reasons to do with risk. I keep hearing people saying its gone up across the board and obviously this isnt true.
Yeah, it's nit that simple. Your risk profile may have reduced as part of a re-rating procedure which has negated the increase.

When I worked for an underwriter we had a base price, a starting point if you will & then different factors & loadings effectively acted as multipliers & additions/deductions to it.

Lets say last year your provider had a base rate of £100, your postcode added 10%, your occupation adds 35% to that figure & your choice of car added a further 140% on to that resulting figure you get a premium of £356.40.

Lets say the following year there is a base price increase to £150, your postcode is now slightly higher risk & generates a 15% loading, a re-rating means they no longer consider your job such a risk so that now only adds 20%, claims stats in the last year for your car have fallen or it's been recategorised so now only attracts a 70% loading & your provider has also now calculated that married couples present a lower risk so generates a 5% reduction. You are now paying £334.31, but thats down to the car being lower risk.

The calculations involved in reality are way more complex but outlying individual circumstances can negate the increase even if the average joe has seen a 50% hike.

Personally, i've had one policy shoot up in price from £375 to £622, another has gone up only by about £20 and another reduced by a few quid.
 
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Weird situation with Hastings.

Looking at a new car for other half. Online tool wouldn’t let her add the new car.

Tried a price comparison site and Hastings came up as one of the cheapest.


Rang them about it and they said they can’t change the car but I can cancel and start a new policy, losing her NCD in the process. Person on the phone couldn’t tell me why.
 
Weird situation with Hastings.

Looking at a new car for other half. Online tool wouldn’t let her add the new car.

Tried a price comparison site and Hastings came up as one of the cheapest.


Rang them about it and they said they can’t change the car but I can cancel and start a new policy, losing her NCD in the process. Person on the phone couldn’t tell me why.
Different underwriter possibly? That's the only thing I can think of
 
Weird situation with Hastings.

Looking at a new car for other half. Online tool wouldn’t let her add the new car.

Tried a price comparison site and Hastings came up as one of the cheapest.


Rang them about it and they said they can’t change the car but I can cancel and start a new policy, losing her NCD in the process. Person on the phone couldn’t tell me why.

Complain about it, it's likely just a glitch & the agent is just shrugging their shoulders because computer says no.
 
Renewal time

Last year - £346
This year - £622

79% increase, that is just bonkers. I wouldn't mind I'm an old fart driving a Citron C5. Never had an accident etc.

Tried all the normal comparison sites and I can't beat the renewal from my current insurer. :(
 
Im so happy that I dont seem to have been affected by this yet.

My car insurance last year was £162 and I just paid £168 a couple of days ago.

I think the main factor is that i live in one of the lowest crime areas in the UK, criminals dont like to live here lol, its too boring for them.
 
Tbh, I was using bymiles for a number of years and they were cheapest by a large margin. Nothing on comparison website can come close. During the first year of lockdown the whole year insurance was just over £200.

Then randomly in 2023 the renewal cost was trebled and the cost per mile was doubled. I phone to ask what happened. All they said is that the underwriter cost is up.

Yeah went with traditional insurance after that.
 
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£310 last year, £506 this year. Not a happy bunny as that is a 63% increase! No difference apart from one extra year no claims discount. Going to wait a week then run some comparisons as that will make it due in 3 weeks.
 
Tbh, I was using bymiles for a number of years and they were cheapest by a large margin. Nothing on comparison website can come close.
same. used to use bymiles and my insurance was half of traditional insurance...had to deal with the pesky obd tracker but was no biggie
then everything went up :(
 
There are about 40 million vehicles registered according to the interwebz in the UK. So let's just say the average insurance was £500. That means insurers were making £20 billion. So let's say everyone now gets a 50% increase, that would mean an extra income of £10 billion being generated.

Is that right or is my maths completely wrong lol.
 
My insurance company are not renewing my insurance as they say I no longer meet their criteria (Used to be called Sky, they are now Safely Insured). Nothing has changed other than I now have 1 additional year of no claims. And now my insurance has gone up £150 compared to last year. Could be worse, I guess.
 
Outright refused renewal and some quotes this year for first time ever. Specialists struggling to compete. Reduced my mileage a bit, everything else mostly the same and managed to reduce the premium around £100 in the end but overall the trend is going way up. No idea why several refuse to insure me (Lotus Elise) now, nothing else has changed.

EDIT: Still harbouring a big distaste for this industry and its blatant profiteering and general poor service. Needs a shake up but too many of the 1% doing too well from it I suspect.
 
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