Soldato
Haha hahahahaha….. ha!
Renewal came through £632
I have said it before and I’ll say it again, at least Dick Turpin wore a mask.
Massive Car insurance costs?
- Thread starter MatsyLR
- Start date
Haha hahahahaha….. ha!
Renewal came through £632
I have said it before and I’ll say it again, at least Dick Turpin wore a mask.
Jesus!
Caporegime
Was Dick Turpin responsible for the stock of second hand cars holding their value a lot more since Covid and the stupid cost needing to be offset by written off EV's for small damage? Then you have the whole debacle of JLR products that have become insurable because of how easy they are to steal. (There are plenty of other manufacturers too). These are all factors that increase insurance premiums.
Last edited:
Man of Honour
Doesn't explain why he can go elsewhere and get it for £200 less though? I assume the Dick Tirpin comment was more in relation to the massive difference between the renewal and new prices being quoted.
Soldato
Mine went down! 
Interesting little 'quirk' - the quote I had via comparison site, once on the insurers site had incorrectly picked up that I purchased my vehicle January 2024. I changed this to January 2023 and the quote increased by £150.
It's almost as if they see an opportunity to add a bit more money because i've owned the car for a while and won't want to get rid of it just because of a slightly higher insurance cost... Struggling to see how I present a genuinely higher risk by virtue of having owned the car for a year
It's almost as if they see an opportunity to add a bit more money because i've owned the car for a while and won't want to get rid of it just because of a slightly higher insurance cost... Struggling to see how I present a genuinely higher risk by virtue of having owned the car for a year
I doubt it, I mean if I look nationally on autotrader there are less than 500 M140i for sale (less than 50 within 30 miles of me) so it's more of a steady drizzle than a flood.
If you look here, M140i has essentially flatlined since 2019 in terms of the number on the roads: https://www.theclassicvaluer.com/howmanyremain/bmw/m140i .
I think electric vehicles will be more of a factor due to their high repair costs, they are gaining market share and there's now a pure electric car (Model Y) in the top5 biggest sellers.
Permabanned
- Joined
- 10 Nov 2005
- Posts
- 2,553
My insurers have always given me a discount each year the more years I own the car, Adrian Flux/Sterling literally described it to me as a bonus due to keeping the same car - aside from the extra I save the more years NCB I earn, it's definitely worth shopping around, along with having modifications, every car I've modified, even with a different engine/box/diff etc etc swapped in, has been cheaper than the standard one, by stupid amounts!
Few potential reasons:Interesting little 'quirk' - the quote I had via comparison site, once on the insurers site had incorrectly picked up that I purchased my vehicle January 2024. I changed this to January 2023 and the quote increased by £150.
It's almost as if they see an opportunity to add a bit more money because i've owned the car for a while and won't want to get rid of it just because of a slightly higher insurance cost... Struggling to see how I present a genuinely higher risk by virtue of having owned the car for a year
- Fraud algorithms give some weighting to how long a car has been owned.
- Anecdotally, drivers are more cautious when they first own a car. They don't want to damage their shiny new paint/alloys etc. My wife got a new car for Christmas and was crawling around our estate in it
Essentially, when something is "brand new" (to them), people tend to take better care of it - A car owned for a year is perhaps considered more likely to have worn tyres or other faults impacting on risk, although this won't always be the case, I mean you could buy a second hand car 12 months ago with wafer thin tyres, and if it's less than 3 years old you wouldn't need to pass an MOT. But on average, I suspect most cars purchased less than a month ago have decent tyres and no major faults, otherwise the person buying it would have had that seen to.
Last edited:
Some of those make a little bit of sense but it still feels a bit like a cheeky money grab
Yep, repeats quite happily.
Either way, it's the only vaguely reasonable quote i've managed to find, so it'll have to do.
It's a bit of a chore renewing at this time of year, as the 'sweet spot' for obtaining quotes lands right amongst Christmas and New Year, so I don't end up giving it the attention it needs at the right time. Given I'm around 15 years NCD already, I may look around again in summer and see if it's worth chopping and changing mid way through the policy if things are looking any better (perhaps to coincide with my partners car and find something multicar).
Yep, repeats quite happily.
Either way, it's the only vaguely reasonable quote i've managed to find, so it'll have to do.
It's a bit of a chore renewing at this time of year, as the 'sweet spot' for obtaining quotes lands right amongst Christmas and New Year, so I don't end up giving it the attention it needs at the right time. Given I'm around 15 years NCD already, I may look around again in summer and see if it's worth chopping and changing mid way through the policy if things are looking any better (perhaps to coincide with my partners car and find something multicar).
It's also a problem because people are strapped for cash around that time of year so are drawn into fraud schemes. Motor insurance is typically annual, but risks are elevated in the first couple of months after a policy is taken out. i.e. you take out insurance, soon after you drive into the back of me, your insurer pays out for all my whiplash etc and the brown envelope drops through your letterbox.
Soldato
Some of those make a little bit of sense but it still feels a bit like a cheeky money grab
Yep, repeats quite happily.
Either way, it's the only vaguely reasonable quote i've managed to find, so it'll have to do.
It's a bit of a chore renewing at this time of year, as the 'sweet spot' for obtaining quotes lands right amongst Christmas and New Year, so I don't end up giving it the attention it needs at the right time. Given I'm around 15 years NCD already, I may look around again in summer and see if it's worth chopping and changing mid way through the policy if things are looking any better (perhaps to coincide with my partners car and find something multicar).
It really doesn't.
My renewal is the 5th of January so I'm looking in those dates. There were no differences so quotes obtained before Christmas.
I've always understood 3 to 4 weeks in advance to be the best time to be looking
Soldato
Never gotten different quotes regardless of dates.
It may have been in years gone by but certainly not recently.
I find once I've got a quote from somewhere, it won't change between quote and start date unless I materially change the details - it's been a long while since I spent time doing anonymous quotes that couldn't be linked to genuinely compare week to week though.
Places like MSE still seem to suggest there's a sweet spot though.
Soldato
How much profit are these companies making? You have given two bits of information. Do these only affect my current insurer? Because other companies offer me a lot lower.
They are all a bunch of chancers who get away with it because to own a car you must have a agreement with one of these companies.
Man of Honour
Just had my renewal through:
Last year: £569
Renewal: £1032
Did laugh. Have thankfully found quotes £50 odd more than last years premium but Admiral can do one, won't even entertain them trying to match it, will just tell them to jog on
Last year: £569
Renewal: £1032
Did laugh. Have thankfully found quotes £50 odd more than last years premium but Admiral can do one, won't even entertain them trying to match it, will just tell them to jog on
Don
Changed the insurance over from my Ford Kuga to a Mini Countryman Cooper S. £82 refund! despite being a higher insurance group and more performance.
Can only assume Kugas are either crashed more or stolen more, but as with everything insurance related, just seems to be a lucky dip
Can only assume Kugas are either crashed more or stolen more, but as with everything insurance related, just seems to be a lucky dip