BMW and M Power Owners

Anyone renewed insurance recently? Not sure what has happened in the last 6 months but my quotes have sky-rocketed.

For instance: MY2013 530D MSport Auto

October 2015 quote: £480 with 9 years protected no claims
(I didn't end up getting this, as my current insurer just modified my existing policy to account for the change of vehicle for a nominal fee.)

Renewal Quote: £864 with 10 years protected no claims!?

So I thought it was just the insurer trying it on, I've since tried a lot of the comparison sites and the cheapest I've seen is about £650

What on earth has happened? I've not moved, I've not changed jobs, I've not had any accidents, Literally everything is the same other than extra year no claims and 6 months on from purchasing the vehicle.
 
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pepp77 said:
Nobody pay any attention to the news or the budget, there have been loads of reports about insurance tax increases and for people to expect their insurance to go up this year.
Click to expand...

Yes I watched the budget live, they increased IPT by 0.5%

I don't think 25p extra IPT on my insurance accounts for the 35% increase....
 
Well my current insurer didn't seem too concerned I was going elsewhere.

I was trying to get to the bottom of the increase.

Two things they mentioned.

1) Figures change hourly.
2) They mentioned a £200 'Vehicle Excess' which I'd never heard of before. But you only pay that if you have an accident, so that can't be the culprit.
 
Insurance isn't simply based on your circumstances, could be any number of factors, thefts in your local area, nationwide accident figures on 520d's in your age group, literally any number of possible reasons. The fact all insurers are giving you a higher premium would suggest something in your insurance profile is the reason.
 
Unless there's been loads of 530D's nicked/crashed by 33 year olds in my area in the last 6 months I can't see why.

As I said, no changes in personal circumstances than 6 months ago
 
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That was just an example there are so many different variables that the actuaries will be plugging into their systems to churn out insurance metrics. When I said insurance profile I wasn't talking about your personal circumstances, I meant that one or more of the various variables in your overall insurance profile has clearly caused your risk profile to increase in the eyes of the insurers over the past 6 months. The people on the phone won't know what it is so you'll never really be able to find out.
 
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