Cost of Living - Shrinkflation is speeding up at an alarming rate

Cost to insure 3 cars for 2 drivers last year - £673
Cost to insure the exact same this year - £974

That's a 45% increase. This is not because of the war in Ukraine, the fallout from covid or even inflation, it's sheer bloody corporate greed.

What excuse do car insurance providers have for raising prices so much, other than jumping on the bandwagon?
 
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The number of Deliveroo/Just Eat/Uber Eats couriers entering the entrance to a large council estate opposite my work with (guessing) 160 properties is ridiculous.

My friend works in a supermarket which is a Just Eat location. One woman ordered a pack of cigs which cost £13 in the store. JE cost £16.30 plus as the order is under £20, £1.99 service charge and 20p bag charge. £18.49 for the cigs. Due to the unusual spelling of the woman’s name, we know where she lives - in the council estate opposite work. As a nice regular customer’s sister lives in the same block.

The same friend suggested that Just Eat is short for JUST get off your ass and go to a restaurant or shop if you want something to EAT
 
What excuse do car insurance providers have for raising prices so much, other than jumping on the bandwagon?

I'd imagine they've developed some well crafted statistics showing accident rates have gone through the roof in recent years (which briefly mentions somewhere in the small print that they're comparing to a lockdown period when no one was driving anywhere) :p
 
What excuse do car insurance providers have for raising prices so much, other than jumping on the bandwagon?
I understand if you had claims to jump that much.

Car insurance is based on postcodes. Areas with bad accidents the price of everyone’s insurance goes up. Plus loads of insurance fraud where people claim to get whiplash from a little bump.

This is a map of average cost of insurance. https://www.comparethemarket.com/car-insurance/content/car-insurance-premium-tool/ Note most of the red/darker oranges are very urban - more accidents. Plus can look at your council and it’s ranking in the car insurance price list. My council is 70% down the list from cheapest to expensive. Above average


If you want cheaper car insurance- East Angelia and Cornwall. You are not going to save much if you decide to relocate as house prices are very expensive.
 
I'd imagine they've developed some well crafted statistics showing accident rates have gone through the roof in recent years (which briefly mentions somewhere in the small print that they're comparing to a lockdown period when no one was driving anywhere) :p
Probably due to people not driving much in 20/21, some may have lost the ability of driving safely.
 
What excuse do car insurance providers have for raising prices so much, other than jumping on the bandwagon?

I would say mostly from large increases in cost of repairs/parts, as garages pass on their increased costs and increases in car valuations, second hand cars have increased 30% since Covid.
 
Parts shortages mean repairs take longer and make them more expensive. Also more expensive hire cars are needed to cover the repair period.

There is also a shortage of hire cars pushing up prices significantly.

Cars have also got more expensive generally.
 
The number of Deliveroo/Just Eat/Uber Eats couriers entering the entrance to a large council estate opposite my work with (guessing) 160 properties is ridiculous.

My friend works in a supermarket which is a Just Eat location. One woman ordered a pack of cigs which cost £13 in the store. JE cost £16.30 plus as the order is under £20, £1.99 service charge and 20p bag charge. £18.49 for the cigs. Due to the unusual spelling of the woman’s name, we know where she lives - in the council estate opposite work. As a nice regular customer’s sister lives in the same block.

The same friend suggested that Just Eat is short for JUST get off your ass and go to a restaurant or shop if you want something to EAT
What does this have to do with shrinkflation ?
 
One thing with car insurance, they always use the expensive methods to fix damages. Friend got a dent down her door caused by someone pushing a supermarket trolley down the side of her car. Got one of those mobile dent removal companies - cost £85. Plus another £20 for a touch up kit. Her insurance excess is £250.

Whereas if someone wants to claim on their insurance for similar, the door would be replaced as 'claim' dent cannot be pulled out. Replacing a door is £500-1500, depending on make, model of car and if its a door from a 3 door or 5 door. Plus labour, VAT etc. Then insurers would use expensive garages, not your trusty garage with Dave, sons Darren and Luke who you used for years.

If people stopped claiming for small dents and dings - using dent removal companies instead.
 
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which on the bandwagon too for free advertising in todays papers

We looked at prices at the UK's eight largest supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose - and found that the branded product with the single largest price increase was Mr Kipling Chocolate Slices (6 pack) at Tesco. These went from £1.16 on average in the three months to the end of July 2022 to £2.66 in the same period this year - a shocking increase of £1.50 or 129%.

Similarly, Mr Kipling Bakewell Cake Slices (6 pack) at Sainsbury’s went from £1.38 to £2.75, an increase of £1.37 or 99%.
we do our own bakewell - pretty sure which membership didn't used to be £99/pa though
 
I'm amazed at the power of brand loyalty (mind you being a PC enthusiast and seeing how people will fall over themselves to buy Nvidia's latest and greatest I shouldn't be), a single tin of Heinz baked beans 415g costs £1.40 now at Tesco yet you can buy Branson for £1 or the supermarkets own brand for about a third of the cost. Surprised Heinz haven't priced themselves out the market tbh given their product is only of middling quality at best and nothing special yet it's priced as a premium product.
 
Beans is probably the worst product to talk about brand loyalty with though; there is a noticeable difference between branded and own brands. Branston4lyf.

Some people do prefer the sweeter taste of Heinz though.
 
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I'm amazed at the power of brand loyalty (mind you being a PC enthusiast and seeing how people will fall over themselves to buy Nvidia's latest and greatest I shouldn't be), a single tin of Heinz baked beans 415g costs £1.40 now at Tesco yet you can buy Branson for £1 or the supermarkets own brand for about a third of the cost. Surprised Heinz haven't priced themselves out the market tbh given their product is only of middling quality at best and nothing special yet it's priced as a premium product.
People ‘have to have to Heinz’ as probably never had anything else. Probably very surprised if they eat other brands and taste nicer!

I have no Heinz products in my cupboards. Heinz are an inferior brand which markets itself on being the best quality when it’s the pits.

Try Sainsbury’s cream of tomato soup and it’s 75p v £1.70 a can.
 
One thing I don’t understand is people liking Richmond sausages. They have the lowest % of meat to be classed as a sausage 42%! When they are on offer at work or other supermarkets, they fly off the shelves.

Meat price per kg is cheaper in premium sausages than Richmond.

Think people still buy Richmond sausages if the ingredients are listed as Rubbish - 58% Pork 42%
 
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