Anyone elses renewal gone up?

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Joined
2 Jan 2007
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2,305
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England
Just got my renewal in from swiftcover and was surprised to see it went up from ~£330 to ~£460. I asked why and basically got back an answer saying the reason was because:

Injury claims compensation is increasing.
Increasing medical costs.
Fewer cars are repairable.
Parts are more expensive.

This sound about right or what?
 
everybodys insurance always goes up

its to see if your a mug or not. Shop around and get a better deal, its what you do every year surely ?
 
Yeah I seem to swtich every year but thats becuase my renewal comes in an it's only marginally cheaper than the previous year so I fnid a better quote, but in 5 years it's never actually gone up!
 
in which case you probably find you no longer fit their target demographic

thus they've deliberately quoted you higher knowing you'll leave. But they want you to, so oblige them :D
 
OK! I'm getting a new car (prob ST170) so I'm expecting a hike anyway but as long as premiums haven't gone up across the board I'm happy...
 
nah, they might try and imply its the "credit crunch" but putting up prices at renewal to get rid of you is nothing new.

the excuse is though.
 
Mine halved :D. To be fair it was my first renewal with my first years no claims so that could have had something to do with it.
 
they have a target demographic of customer that they want to aim for. Prime example of this is direct line insurance. Direct line can be one of the cheapest insurers for young performance car owners ... if you've got a clean license

As soon as you add points, they no longer become competitive and become deliberately uncompetitive. In marketing speak, they have a typical customer demographic in mind. He'll be of a certain age, driving a certain type of car, with a certain type of lifestyle.

In their experience, drivers with points are more likely to speed, therefore more likely to be involved in accidents therefore more likely to cost them money

Thus they quote silly figures to warn away potential customers who dont fit their target

Its possible your current insurer has re-assessed what customers cost them money (higly likely in the current climate) and has now moved you into the group of people they no longer want to do business with.

Marks and spencer insurance for example, will be targetting their typical store customers - that is 40+ people, married, with cars they've owned forever that are practical and not at all interesting and NCBs as long as your arm. They will only be interested in this sort of person, and quote everybody else (like me) stupid insurance premiums of 5 AND A HALF THOUSAND POUNDS !!

i got the hint with M&S and went elsewhere ;)
 
haha, so they're just testing to see how much of a mug you are, and if you're conned by the "ah well its the recession you see, so we've had to put prices up" line

Just phone them and say its £314 as a new customer and you want this premium or you'll go elsewhere. Chances are they'll just give it you
 
My renewal has gone down slightly, only because I'm young and gaining NCB at my age has a good effect on insurance prices.
 
Mine only dropped about £10 or so...compared to last years renewal where it dropped £400. I was going to shop around, but the place Im with at the moment offers DOC so I shall probably jsut stay with them.
 
mine mums which im a named driver on went up from £960 to £1280 gave them a call and they have dropped it to £750.
 
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