Massive Car insurance costs?

the other bit is that there was a change regarding pricing, from what i gather (as it isn't my area anymore) is that they were told they are not able to give two different prices if someone is up for renewal and then they enter their details as a new customer, so everyone thought it would help at renewal however most companies just made it so that the "extra discount" of being a new customer is removed. before I get the "I have done it with the same company and got a lower price", its based on the exact same details as the previous term, which generally change from one to the next, whether its vehicle value or mileage etc

Insurance is what it is. There's a reason why the government doesn't get involved in it. As pointed out in other comments, the price may look expensive but that is generally until someone has an accident and hits something or someone then for the pay out of the claim the cost doesn't appear that bad. While there is a counter argument of "I don't think it will happen to me, as I'm a safe driver", unfortunately its a conversation I have had with people in too many cases
 
SGWills said:
the other bit is that there was a change regarding pricing, from what i gather (as it isn't my area anymore) is that they were told they are not able to give two different prices if someone is up for renewal and then they enter their details as a new customer, so everyone thought it would help at renewal however most companies just made it so that the "extra discount" of being a new customer is removed. before I get the "I have done it with the same company and got a lower price", its based on the exact same details as the previous term, which generally change from one to the next, whether its vehicle value or mileage etc

Insurance is what it is. There's a reason why the government doesn't get involved in it. As pointed out in other comments, the price may look expensive but that is generally until someone has an accident and hits something or someone then for the pay out of the claim the cost doesn't appear that bad. While there is a counter argument of "I don't think it will happen to me, as I'm a safe driver", unfortunately its a conversation I have had with people in too many cases
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Insurance companies are making record profits though. Prices for the consumer are going up but not for the company.
 
198bhp Jeep Cherokee - 14k Personal and 2k Business Miles - insured with Churchill has gone from £440 last year to £688 this year.

Totally insane. Seems everywhere else is charging about the same amount too. I can save £40 by getting a driving sensor fitted with Hastings. Which is a joke for someone over 40 who has been driving for more than 20 years and no convictions.
 
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Vanquish-Storm said:
Insurance companies are making record profits though. Prices for the consumer are going up but not for the company.
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Wouldn't say record profit compared to previous years, ironically the best years was during lock down due to the restriction on travel meaning less accidents but yes a profit is being made. Cost of vehicle claims maybe higher, but going forward since the introduction of the Official Injury Claim portal for injury claims that have happened in England and Wales should start to help premiums going forward, even though Irish claims have a higher settlement amount so it may cancel each other out.

There will always be an element of issue with how insurance works for anyone who drives, whether it's the cost of a premium, the cost of a market value on a vehicle etc, but if you look at the number of business who deal in car insurance, its not as saturated as other business areas because its not a straight forward industry.
 
adam cool dude said:
EV's are costing insurance companies massive amounts because they end up getting written off for huge amounts. A lot of companies are not even insuring EV's now.
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problem too, must be, us ICE folks are paying because there is a bigger chance of an accident with an EV -

~£200->£280 renewed today with RAC.

Exceptionally after gong round to the usual suspects directly aviva/aa/rac/lv/churchill/dl - tried confused.com who gave a much cheaper quote than RAC direct £300 / £700;
not sure if confused.com, and like, do, always accurately transfer your&cars details to the respective insurers for quotes, or how such discrepancies are explained ?
 
no mention of the europe word , or elysium fields, in the thread - you guessed it
31July
Analysis by the House of Commons Library found the UK motor insurance annual inflation rate grew to 43.1% in May 2023.

In the same month, the figure stood at 2.6% in Germany, 0.4% in France and 0.0% in Spain.

In both Belgium (-0.4%) and Ireland (-3.6%) the annual motor insurance inflation rate reduced in the same month.

The analysis found that UK car insurance inflation has grown since January 2022.

The SNP argued that Scotland returning to the EU through independence would restore economic prosperity.

The party’s transport spokesman, Gavin Newlands MP, said: “This latest analysis demonstrates that independence is the only way Scotland can rid itself of broken, Brexit Britain.
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kona786 said:
Yup same for me too... Like a 20% rise..

Anyone with Sterling Insurance. They are the cheapest by far, just hope their customer service is half decent.

www.sterling-insurance.co.uk

Home Page

Our policies cover all your needs. If you need straightforward car or van insurance, breakdown cover, or you’re shopping around for specialist insurance – Sterling can help you. Call direct for our best prices. Who is Sterling Insurance? Life is one epic journey made up of smaller trips. So...
www.sterling-insurance.co.uk www.sterling-insurance.co.uk
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I swapped to these purely for the price. I only drive the vehicle at the weekend as I use my company car for the weekly commute but like some noise at the weekend.
Previous insurance company increased my insurance from £500 to £850+, I'm 40+, 5 years NCB, no points or endorsements etc.
Sterling insured my Mercedes C230 (2.5l V6) for £320. They use an external credit broker and was a bit of a faff to complete but other than that the cover seems solid.
 
Phat Momma Hoe said:
I swapped to these purely for the price. I only drive the vehicle at the weekend as I use my company car for the weekly commute but like some noise at the weekend.
Previous insurance company increased my insurance from £500 to £850+, I'm 40+, 5 years NCB, no points or endorsements etc.
Sterling insured my Mercedes C230 (2.5l V6) for £320. They use an external credit broker and was a bit of a faff to complete but other than that the cover seems solid.
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Nice!

I went with them too. Cheapest by far.
 
Just updated my details for our new GR86 that we are picking up tomorrow. I was expecting a massive increase in insurance. We were paying £169 a year for a Suzuki Ignis Sport worth 3K and had owned for 10 years. Going to a car worth 10 times the amount our insurance for the year has come out at £292. I also updated my occupation from shift manager to Lorry Driver and my renewal went down £7 which I was surprised about as I thought HGV drivers were high risk.

One of the perks of living in the countryside I guess.
 
Auto renewed my insurance with Admiral.

My quotes increased massively this year, with inflation and then the horrible insurance companies deciding to bump up my prices even more on top due to someone crashing into my parked car last year.

Last year my insurance was around £800. Best quotes I was getting on compare the market were around £2000! Admiral offered me £1300 so I've stuck with them
 
Insured my M135i with Adrian Flux last year for £445. 1 non-fault claim and 11 NCB. Renewal came through at £585 with 0 claims (as it has gone over 5 years) and 12 years NCB.

The cheapest quote I find is £673 via the comparison websites which is bonkers considering my driving history. Looks like I'll be renewing with Adrian Flux unless I can find something cheaper - unlikely.
 
I am really confused.

Last year £690 and year before £750. Normal insurers etc. Nothing too out of the normal. This year, most are £1500+ starting, with my current insurer going from the £690 to asking for £1900!

I have no idea as to why either. I have no points, no driving offenses, an extra years no claims, car is unmodified etc. I am 35, 36 in November. Completely clean driving history.

The car is an Audi S5 MY11.

Does anyone have any idea as to why this has happened? I cannot understand it. I thought given the times it would go up a bit, maybe £100, but not doubled, almost tripled!
 
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