Massive Car insurance costs?

One of my colleagues was saying today he got his renewal through - £300 more than the previous year, I think he said using Hastings, with the app he had the option of rejecting the automatic renewal and then it had the options of cancelling or entering the details of an alternative quote, so he just re-entered the details of his previous year and it just accepted and confirmed it without wanting any more information - so now he is wondering how low he could have gone.
 
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Just thinking that if you had an older car with less crumple zones than a modern one, would it essentially cause more damage to the modern car or would it come out in the wash? I know there was a test a few years ago with a modern car and an old volvo but it was t boned rather than a head on.
 
theone8181 said:
Just thinking that if you had an older car with less crumple zones than a modern one, would it essentially cause more damage to the modern car or would it come out in the wash? I know there was a test a few years ago with a modern car and an old volvo but it was t boned rather than a head on.
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The energy has to go somewhere - usually into the occupants in cars without crumple zones.
 
DRZ said:
The energy has to go somewhere - usually into the occupants in cars without crumple zones.
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I realise crumple zones save lives, I was just wondering if the less crumple zones in a car, the more damage it would do to another. My thinking being is that why insurance companies charging more old cars?
 
potential medical costs for those in the older car could be greater - maybe (in UK) that component of accident costs are now, more frequently, passed from NHS onto the insurers, that wouldn't seem so unreasonable.

If the insurance cost is increasing because newer car systems are more expensive to repair (cars disposable like iphones ?) to reduce the initial purchase cost, then insurers need to call that out.

Generating quotes sounds like an ideal application for an AI actuary.

(... but we still have no explanation of why insurance hasn't increased in Europe )

e: suppose brexit could be blaimed if car parts that would have been distributed from europe have increased in cost versus inside the eu
 
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I had a renewal quote of £648 from Churchill as my Toyota renews on 24th September. Quite an increase as last year I paid them £520. I've cancelled them and just bought a policy through compare the market for £472 with some company called GoSkippy so I've just saved nearly £200.
 
theone8181 said:
I realise crumple zones save lives, I was just wondering if the less crumple zones in a car, the more damage it would do to another. My thinking being is that why insurance companies charging more old cars?
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Accidents involving "old" (what does that even mean in this context?) cars either have more accidents or the accidents they are in cost more - or both. Insurance companies are generally pricing on risk, for which they have decades upon decades of data as an industry. I doubt it is as simple as "older cars = more risk" but you can see how there will be a segment of society struggling to make ends meet driving 20 year old under-maintained cars which is a clearly riskier proposition than someone with a nearly-new approved used car on average. The value of the car probably plays into that as well - someone with a 20yo £500 banger is very obviously likely to be riskier than someone with a 20yo Ferrari.
 
It’s swings and roundabouts, people who drive old cars that they are running until they are mechanically written off are unlikely to make small claims (E.g. car vs McDonalds drive through post) than those with new lease cars who must get them repaired.
 
b0rn2sk8 said:
It’s swings and roundabouts, people who drive old cars that they are running until they are mechanically written off are unlikely to make small claims (E.g. car vs McDonalds drive through post) than those with new lease cars who must get them repaired.
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If you accept the premise that old cars cost more to insure than older cars (which appears on the face of it to be true, even if viewed solely as premium cost vs car value), then you're accepting that older cars cause more payouts than newer cars and thus it isn't "swings and roundabouts", there is a material difference in risk which is reflected in those increased premiums.
 
I don’t accept the premise that old cars are more expensive to insure then new.

When I owned ‘old’ (between 8 and 11 years old) cars 2 years ago my insurance was £180, fully comp, business use and protected no claims. Insurance didn’t really get any cheaper than that.

I now own a new car, when I bought it my insurance more than tripled. Granted it was a Tesla and group 50, but even if I had bought an ‘average’ car, my insurance wasn’t going down…
 
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It does feel a bit "wheel of fortune" when getting quotes these days. Mines due in december so I'll try and get an early quote in a couple of months. Wouldn't surprise me if it gets blamed on brexit (rightly or wrongly), companies look for any excuse to Jack prices.
 
Managed to the difference refunded from Esure over £250 quid with compensation and then confused are sending me the difference between the renewal and cheapest quote they offered plus £20 so all in this years insurance will have cost me less than £90. Plus I still got the 20 quid halfords voucher :D
 
Had my renewal on my mk7 Golf R-Line TSI from RAC of £402, up from £300 last year. Got a new quote from Aviva for £270
 
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Next door had a Smashed Light and Dented Front Wing - They have had a Courtesy Car which is £234 Per Day for going up 4 months now.

I know 2 cases of this currently on-going, relatively minor cosmetic repairs but the wait for parts means no quick turn around.

Meanwhile a Rental Company gets £££ - Insurers pay out far more £££ and now we are all having the cost put onto us.

Very sad state of affairs, still not over my £493 ish to £800 ish renewal this year.
 
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