Massive Car insurance costs?

Steedie said:
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
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my wife and i have a multicar policy with admiral. i fully agree with your sentiment however i expect getting quotes for 2 cars for both my wife and i, with 1 car in her name giving her NCB and one giving me NCB will be more of a ball ache than just getting admiral to cover us... so i really hope Admiral dont take the **** too much.
 
One of the young lads at work, 2nd year of driving quote cheapest w/ black box £4600 for a 1.2 Corsa... absolute joke. And he is paying it... no wonder the younger generations are struggling to get on the property ladder.
 
Rroff said:
One of the young lads at work, 2nd year of driving quote cheapest w/ black box £4600 for a 1.2 Corsa... absolute joke. And he is paying it... no wonder the younger generations are struggling to get on the property ladder.
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This has to be area specific because I have been running quotes for my daughter who turns 17 in September and basic cars like panda's and 500's come back around a grand and can even get her into something a little warm for under 2k. 1.7 Puma's were £1700 iirc.
 
adam cool dude said:
This has to be area specific because I have been running quotes for my daughter who turns 17 in September and basic cars like panda's and 500's come back around a grand and can even get her into something a little warm for under 2k. 1.7 Puma's were £1700 iirc.
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It is by far the worst out of what the younger ones at work have talked about - but most are in the 1200-3000 bracket for their first 1-2 years at least. There was a big debate recently because one of the managers, around 25, has been quoted £125 for a year! on his Panda, while some of the 17-18 year olds were getting quotes 10x (or more) that on the same car.

One thing which might be a factor he has been moving around a lot over the last year and was basically homeless for several weeks.
 
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I do feel bad for kids. We've got a couple of apprentices, both really good kids with their heads screwed on and BOTH have had insurance cancelled due to having a black box fitted. They now have to declare that they've had a policy cancelled or invalidated for the next 5 years.

I'd have lasted about 20 minutes with a black box fitted to my beast of a Hyundai Pony when I was 17 :o

Boss at work was complaining about a 73% increase on his latest renewal! I'm hoping the MX5 won't go up too much. I do 1000 miles a year in it (much less the last 3 years) and it's already teetering on the brink of justification with the Road Tax and previous years insurance.
 
Rroff said:
It is by far the worst out of what the younger ones at work have talked about - but most are in the 1200-3000 bracket for their first 1-2 years at least. There was a big debate recently because one of the managers, around 25, has been quoted £125 for a year! on his Panda, while some of the 17-18 year olds were getting quotes 10x (or more) that on the same car.

One thing which might be a factor he has been moving around a lot over the last year and was basically homeless for several weeks.
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1500 for the 1st few years isnt too far off the mark imo.

way back when, in 1998 my 1st car was a 1993 1.4l pug 306... completely stock except a previous owner had put the turbo diesel alloy wheels on it.

whilst i was 22 at the time and had been driving since i was 17 (on my parents insurance) i had zero no claims bonus and my 1st policy was over £1100.

add in inflation into the mix that is more than £1500 is today. the good news is it did come down quickly as i got some no claims in there.

over £4000 is utterly bonkers however.
 
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markwilliams82 said:
We have admiral for our multi policy (2 cars and home insurance) - renewal has just come through and has increased roughly £800

Time to shop around!
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Did you find any quotes that beat the multi policy? I'm expecting our renewal from Admiral to arrive any second, and they've been consistently cheaper than anyone for the past 5-6 years so I'm rather nervous.
 
bigmike20vt said:
1500 for the 1st few years isnt too far off the mark imo.

way back when, in 1998 my 1st car was a 1993 1.4l pug 306... completely stock except a previous owner had put the turbo diesel alloy wheels on it.

whilst i was 22 at the time and had been driving since i was 17 (on my parents insurance) i had zero no claims bonus and my 1st policy was over £1100.

add in inflation into the mix that is more than £1500 is today. the good news is it did come down quickly as i got some no claims in there.

over £4000 is utterly bonkers however.
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My first car was a 1.6 Peugeot 306 XS so the sporty looking one without any go. 90bhp of fun. £1100 for first year TPFT. That is £1861 in today's money and not even fully comp. I paid 900 quid for it too so it wasn't valuable or anything like that.

I think it is more a case of terrible wage stagnation rather than actual insurance prices being crazy. Insurance prices have actually been incredibly cheap for such a long period. Most likely due to super low interest rates.
 
My insurance isn't due for a few more months, I hope the prices don't keep going up. I know when I took out the insurance to keep the cost resonable I had to get a crazy excess. Usually I do £150ish but I now have £650 excess. But that kept the price down to £600 for the M235i. Shame MoreThan no longer do insurance for cars. :( My Dad's is due slightly earlier and he has a £400 excess and pays £625 for his policy on the XC60. Crazy money when you think how long we've both been driving for with full ncb.
 
adam cool dude said:
My first car was a 1.6 Peugeot 306 XS so the sporty looking one without any go. 90bhp of fun. £1100 for first year TPFT. That is £1861 in today's money and not even fully comp. I paid 900 quid for it too so it wasn't valuable or anything like that.

I think it is more a case of terrible wage stagnation rather than actual insurance prices being crazy. Insurance prices have actually been incredibly cheap for such a long period. Most likely due to super low interest rates.
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Back in 1999 my Hyundai Pony 1.5 GLS with velour seats and, get this, electric windows cost me £1200 to insure TPFT as a know it all 17 year old who thought he was Colin McRae. So I agree to an extent, things weren't exactly great back then either.

I'm sure I've already mentioned this but whatever the premiums are, margins on car insurance are very low single digits right now. No wonder so many play the game of having a sister company dealing with accident management...
 
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casper_uk said:
www.bbc.co.uk

Warning cost of car insurance to rise this year

The Financial Conduct Authority says it was "monitoring" the sharp rise in insurance premiums.
www.bbc.co.uk

Looks like we will all still be suffering for the rest of the year. Talking about insurance for young people, it's always been bad. I had to pay £1500 back in 2000 for a £250 shed of a 5 door Astra!
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Exactly that is £2700 in todays money! I think too many and myself included still think a happy meal costs 99p!
 
adam cool dude said:
Exactly that is £2700 in todays money! I think too many and myself included still think a happy meal costs 99p!
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the thing is the prices have shot up in 12 months. that isn't natural inflation... and yes there are reasons why it may need to go up more than normal ... supply issues and repair times. but some of the percentages talked about in just 12 months seem hinky to me.
 
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