Massive Car insurance costs?

A guy in his mid 20s I work with bought himself a 2018 Range Rover as he was still living at home and has a decent job. He's been paying around £600 insurance for the last couple of years. The best he can get this year, even through comparison sites, is just under £3.5k :eek: A combination of younger driver + commonly stolen, generally unreliable car, it seems.

In any case he's now looking to sell it instead.
 
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Admiral sent their renewal quote through for £1999 (2 cars and home insurance). We paid £1160 with them last year.

Got on the phone with them, changed a few parameters, and got the multicover price down to £1694.81. However, their home insurance quote seemed really expensive. I shopped around and managed to get home insurance for less elsewhere, so the total price ended up being £1467.91 for everything.

Admiral's quote for my Tesla Model Y was far less than everyone else, by about £400. Big jump though in 1 year from £577 to £885 (I increased the mileage to 15000 this year from 12000).
 
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GravyMonster said:
A guy in his mid 20s I work with bought himself a 2018 Range Rover as he was still living at home and has a decent job. He's been paying around £600 insurance for the last couple of years. The best he can get this year, even through comparison sites, is just under £3.5k :eek: A combination of younger driver + commonly stolen, generally unreliable car, it seems.

In any case he's now looking to sell it instead.
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That isn't even bad for a Range Rover! I'm pretty sure you can insure supercars for a lot less.
 
Feels like we could be approaching a tipping point where choice of vehicle is going to be increasingly influenced by insurance costs - this has long been a thing for new drivers, but generally I don't think many older/experienced drivers have factored it in that much, it's been more a case of find a car they want and then see what it costs to insure knowing the isn't going to vary THAT much, rather than the other way round.
Blackvault said:
So, I have my 2015 Hyundai Ioniq insured with Hastings Premium coverage. Last year, I paid £426 for the insurance, which was much cheaper than the prices I found on most of the comparison websites. I also checked with Direct Line and AbbeyOnline, but they quoted me higher prices of £666 and £800, respectively. Today, I got in touch with Hastings to get an idea of my renewal premium, and they gave me a quote of £491. I'm pretty happy with that, so I'm gonna go ahead with the renewal.
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Hastings seem really competitive atm (by which I mean competitive compared to 2024 quotes from other insurers, not compared to a year ago).
 
Blackvault said:
So, I have my 2015 Hyundai Ioniq insured with Hastings Premium coverage. Last year, I paid £426 for the insurance, which was much cheaper than the prices I found on most of the comparison websites. I also checked with Direct Line and AbbeyOnline, but they quoted me higher prices of £666 and £800, respectively. Today, I got in touch with Hastings to get an idea of my renewal premium, and they gave me a quote of £491. I'm pretty happy with that, so I'm gonna go ahead with the renewal.
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This seems to be the general pattern with most posts here.

1. Get renewal increase of about 75-85% on last year's cover
2. Do comparison quotes and get an increase of about 30-40%
3. Contact original insurer to discuss a better renewal and get down to an increase of 20% - and feel like you've got a decent deal even though you're paying more.
 
Qitarah said:
Apparently Car insurance is set to have another increase for next year as well..
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It seems insurance companies have found the benefits of compounding.

At what point will the year on year increases of 45% stop? It's getting crazy, imagine if it didn't stop, is this what we're faced with?!

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I think they'll stick the tip in deeper until 2025 then only put it in 10% more.
 
Mysterae_ said:
It seems insurance companies have found the benefits of compounding.

At what point will the year on year increases of 45% stop? It's getting crazy, imagine if it didn't stop, is this what we're faced with?!

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I think they'll stick the tip in deeper until 2025 then only put it in 10% more.
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I mean I draw the limit at 20k.
If it gets any worse I'll have to lay off the butler's assistant.
 
Another example why our insurance premiums are going up...

My friends just had a letter from a solicitor saying she's had a claim made against her for an incident that happened last year. A man on his phone rear ended her at Gatwick airport, she went through insurance and he was deemed at fault, obviously, and the case was closed. The letter today claims there was a woman in the car (there wasn't) who is suffering long term effects of the crash.

What a joke

Surely they don't have a leg to stand on if the original incident was deemed their fault by both insurance parties?
 
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Steady increases for the past few years here. I went from £160ish to £175 last year. This year is £212 for an old Honda Jazz. I should really look into getting something newer soon so who knows where I'll be next year with insurance.
 
Steedie said:
Another example why our insurance premiums are going up...

My friends just had a letter from a solicitor saying she's had a claim made against her for an incident that happened last year. A man on his phone rear ended her at Gatwick airport, she went through insurance and he was deemed at fault, obviously, and the case was closed. The letter today claims there was a woman in the car (there wasn't) who is suffering long term effects of the crash.

What a joke

Surely they don't have a leg to stand on if the original incident was deemed their fault by both insurance parties?
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Say what now? A guy on his mobile rear ended your friend and now a woman (possibly made up) who was in the offenders car is now trying to claim from your friend. How is that even possible when your friend wasnt at fault?
 
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Bear said:
Say what now? A guy on his mobile rear ended your friend and now a woman (possibly made up) who was in the offenders car is now trying to claim from your friend. How is that even possible when your friend wasnt at fault?
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Exactly, the letter she got from DAC Beachcroft say they are taking the case on as they are sure they can prove my friend was at fault. Again, no idea how when her case has already gone through insurance with the guy admitting fault and it being on file that he was on his phone at the time of him going in to the back of her

Absolutely mental, and bless her, she's in a right mess about it as she's scared she's going to have her premiums shoot up or be out of pocket.

What really annoyed me is they are pushing her to admit liability and have sent her paperwork to sign to do just that, with a deadline of seven days. Which I guess is how they win a lot of cases, by using fear tactics and getting people to sign that
 
Is car insurance prices captured in inflation prices?


GravyMonster said:
This seems to be the general pattern with most posts here.

1. Get renewal increase of about 75-85% on last year's cover
2. Do comparison quotes and get an increase of about 30-40%
3. Contact original insurer to discuss a better renewal and get down to an increase of 20% - and feel like you've got a decent deal even though you're paying more.
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I'm currently having no lock on point 2. I could swallow the extra cost this year, but this trend can't continue or it will price everyone off the roads.
 
Steedie said:
Exactly, the letter she got from DAC Beachcroft say they are taking the case on as they are sure they can prove my friend was at fault. Again, no idea how when her case has already gone through insurance with the guy admitting fault and it being on file that he was on his phone at the time of him going in to the back of her

Absolutely mental, and bless her, she's in a right mess about it as she's scared she's going to have her premiums shoot up or be out of pocket.

What really annoyed me is they are pushing her to admit liability and have sent her paperwork to sign to do just that, with a deadline of seven days. Which I guess is how they win a lot of cases, by using fear tactics and getting people to sign that
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The initial letter from the sols is always long winded. if its a simple hit in rear (might put my flame suit on for this but insurers generally wont take much interest that he was on his phone) then they wont have to worry, they can just forward the documents on to her insurer and stop worrying about it.
See these types of letters daily and its a standard letter template they use. she doesnt need to speak to the solicitor chasing, just ring her own insurer, forward them the documents and leave them hash it out
 
HangTime said:
Feels like we could be approaching a tipping point where choice of vehicle is going to be increasingly influenced by insurance costs
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That isnt really the biggest problem imo.
I *am* a savvy shopper, and i definitely do my homework on things like insurance before buying a car..... but how can a buyer mitigate for getting a quote for a car and then it having a 300% increase or more in premium on their renewal.

and its not always as easy as just sell the car because the car may be in negative equity. my insurance on my ipace was.... iirc £570ish when i got the car last may/june. i am dreading my renewal.

its yet another example where it is inherantly unfair with those who can get a tax dodging company car for stupidly cheap prices which include insurance and what not vs those having to buy their car without the tax breaks **

**note i dont have an issue with people making use of these schemes, i know i would if I could but it does not take away from the fact it is a very unfair system which benefits generally only those who are already in a comfortable position for no real logical reason.
 
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Steedie said:
Another example why our insurance premiums are going up...

My friends just had a letter from a solicitor saying she's had a claim made against her for an incident that happened last year. A man on his phone rear ended her at Gatwick airport, she went through insurance and he was deemed at fault, obviously, and the case was closed. The letter today claims there was a woman in the car (there wasn't) who is suffering long term effects of the crash.

What a joke

Surely they don't have a leg to stand on if the original incident was deemed their fault by both insurance parties?
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Is your friend still will the same insurance company?

Makes you angry when you hear things like this. I’d want to reply “you will be suffering long term effects if you contact me again”
 
i finally did it..... i felt nervous but i put in a quote on my current car on meerkat. doubly nervous because of my wifes no fault claim back in november (her car was written off when a plonker overtook her and hit an ambulance head on and then pinballed into my wifes car - no one hurt unbelievably)

but without even adding our 2nd car onto it and getting multicar policy etc, admiral came in at £690 on the ipace with 10,000 miles allowance, which is "only" £120 more than I am paying now. so long as it sticks at that i can cope with that.

we shall see what happens in May!.
 
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