Massive Car insurance costs?

tom_e · 12 Sep 2023 at 07:20

venomx said:
Same here, and same for everybody I know.. Funny how it hasn't been mentioned in the news.

Last year was £830, this year just over £1,000... I have no points on my license, and have two years NCD so far..

Great car insurance con: Premiums soar to record high as prices hiked 50% in a year

Exclusive: The average premium rose by 48 per cent in the 12 months to June 2023

www.independent.co.uk

Why has the price of car insurance gone up so much?

May's data from the Office for National Statistics (ONS) saw motor insurance far outstripping overall inflation - at 43.1% compared to 8.7%.

news.sky.com

UK drivers complain as car insurance renewal costs rise up to 70%

Latest financial pain in cost of living crisis comes from steep price increases for motor cover

www.theguardian.com

UK car insurance costs hit new record as labour and repair fees rise | Auto Express

Motor insurance costs continue to soar in the second quarter of 2023, with the average cost of a premium for ‘fully comp’ cover reaching £511

www.autoexpress.co.uk

Inflation: Car insurance 'shock' as premiums rise 40%

Insurance now costs an average of £776 a year, £222 more than last year and the highest on record.

www.bbc.co.uk

bigmike20vt · 12 Sep 2023 at 07:28

this has got me a little concerned now. 3 months ago I bought my 1st ever truly expensive car. I only got it because the insurance quotes were wildly LESS than what I expected.
I hope this is not gonna bite me on the ass come renewal time.

I am with Admiral as well who are.one of the companies mentioned already in thread

Terminal_Boy · 12 Sep 2023 at 07:36

jpaul said:
europe had similar inflation but insurance prices didn't go up there ... so it's purely a UK effect - maybe govt can investigate that after supermarket supply lines;

mine increased 30% seemed doubly damning with continued reduced mileage post covid , stayed with AA because combined with breakdown was still best offer

My insurance hasn’t gone up at all here in France. Mind you, I do live in the middle of nowhere and drive a 5 year old Duster.

Rroff · 12 Sep 2023 at 07:45

bigmike20vt said:
this has got me a little concerned now. 3 months ago I bought my 1st ever truly expensive car. I only got it because the insurance quotes were wildly LESS than what I expected.
I hope this is not gonna bite me on the ass come renewal time.

I am with Admiral as well who are.one of the companies mentioned already in thread

Gonna be interesting for me, I have several vehicles on Admiral MultiCar so going to be a pain to sort them all if they quote a silly increase. From a general look around other places are still offering the price I'd be currently paying if it wasn't for the multiCar discount.

Maccy · 12 Sep 2023 at 08:51

tom_e said:
Don't feel too bad, it's not just you they're picking on.

Massive Car insurance costs?

Just seeing if I'm going mad here. Been driving 2 years, no points. 32 years old. Last year's insurance was £610 on Hastings Premier. Just looking at quotes and the same plan on compare the market is £864? what on earth is going on??? Can't get it below 850 no matter what I do or where I look...

forums.overclockers.co.uk

Yup, massive thread here already discussing it. You're not alone.

tom_e · 12 Sep 2023 at 08:53

My current insurer that I've been with for the last 4 years and who have always sent my renewal notice over at exactly the same time on the first of the month for the last 3 years have suddenly decided this year to delay it. Almost like they want to wait until as late as possible so I can't get a decent quote anywhere else...

With 2 weeks to go I'm rolling the dice and going elsewhere.

jpaul · 12 Sep 2023 at 09:41

Increase justification versus europe could be rates were anticipating worse inflation/10% that was originally uk projected ...before we went for recession option;

Always negotiating - maybe I can pro-rata cancel 6 months in, and get a cheaper rate, just need a pre-text

Haze · 12 Sep 2023 at 09:45

MouthBoy said:
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!

Can you not reply to the other thread...

Mind boggles how people don't understand how it's gone up, it must hard when you live in cave, cut off from the outside world.

How have you not heard of covid and don't understand the knock on effect, how have you not heard about the war in Ukraine? How have you not noticed the price of petrol and EVERYTHING ELSE going up in price ffs

Removed User 345456 · 12 Sep 2023 at 09:49

MouthBoy said:
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!

Do you pay a stupid amount for road tax? Has that gone up way more too? I found my insurer this year tried to blag it £20-30 more than last year then I argued, and they said "well the good news is we can do it for the same price as last year" - why didn't you do that in the first place then you scumbags! My road tax also went up £20 for no reason as well.

HungryHippos · 12 Sep 2023 at 10:05

I wound up leaving Admiral after being with them for more than a decade when they were more expensive on my last renewal.

I then re-joined them when they were cheaper for my newer car, just random car insurance things.

bigmike20vt · 12 Sep 2023 at 10:09

Haze said:
Can you not reply to the other thread...

Mind boggles how people don't understand how it's gone up, it must hard when you live in cave, cut off from the outside world.

How have you not heard of covid and don't understand the knock on effect, how have you not heard about the war in Ukraine? How have you not noticed the price of petrol and EVERYTHING ELSE going up in price ffs

£690 to 1900 tho?

IF everything went up by that percentage then we would be stuffed. PS last time i looked most of mainland Europe were also affected by all of what you mention and yet they have been hit far less hard so there must be other contributory factors as well.
either way there is no need to be a dick about it.

jpaul · 12 Sep 2023 at 10:33

yes he obviously didn't read the thread - nothing to do with covid ....
who monitors insurance cost outside of period a month before you renew, you just expect your renewal rate will be the exception

jpaul said:
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.

jaybee · 12 Sep 2023 at 10:50

Premiums have gone up because they can.

Of course costs have gone up, but they are milking it whilst they have an excuse. Every business, everywhere is. It's an opportunity for them all because prices rarely come down with anything. Once you have those prices locked in as "the norm" and us Brits learn to take it, we carry on paying it.

It doesn't help that these days write offs happen so easily. I'd like to see the stats, but the amount of cars that get written off due to the most minor of scrapes, because quotes for repair are completely ridiculous. It's so wasteful. I don't know how repair shops stay in business. I assume a lot of people buy back their written off cars and go to body shops themselves for patch up jobs.

Car insurance is just anthother legal requirement rip off. You simply must be ripped off.

Haze · 12 Sep 2023 at 11:35

jpaul said:
yes he obviously didn't read the thread - nothing to do with covid ....
who monitors insurance cost outside of period a month before you renew, you just expect your renewal rate will be the exception

OP is complaining about the cost of car insurance, maybe you should go and read it again... Has everything to do with the negative effects of covid

dlockers · 12 Sep 2023 at 11:36

Haze said:
OP is complaining about the cost of car insurance, maybe you should go and read it again... Has everything to do with the negative effects of covid

Why are you such a 1 dimensional argumentative poster?

Why would a global pandemic which meant the vast majority reduced their mileage significantly automatically mean prices go up? Offer something rather than just a froth at the mouth. You do this in Home and Garden and were kicked out, I hope you get kicked out of here too.

Haze · 12 Sep 2023 at 11:39

dlockers said:
Why are you such a 1 dimensional argumentative poster?

Why would a global pandemic which meant the vast majority reduced their mileage significantly automatically mean prices go up? Offer something rather than just a froth at the mouth. You do this in Home and Garden and were kicked out, I hope you get kicked out of here too.

What planet are you on, the reason insurance has gone up is the knock on effect of supply problems across the world, would which are still effecting us now, which had a knock on effect on the cost of things we buy... Which means insurance companies have had to pay more money for everything

Also I have never been kicked out of home and garden...

bigmike20vt · 12 Sep 2023 at 12:16

Haze said:
What planet are you on, the reason insurance has gone up is the knock on effect of supply problems across the world, would which are still effecting us now, which had a knock on effect on the cost of things we buy... Which means insurance companies have had to pay more money for everything

Also I have never been kicked out of home and garden...

so why is is affecting us massively more than other countries in Europe who also had similar issues with covid and the Russian invasion of Ukraine?.

kindai · 12 Sep 2023 at 12:19

bigmike20vt said:
I am with Admiral as well who are.one of the companies mentioned already in thread

My renewal on the lambo with admiral was fine: