Massive Car insurance costs?
- Thread starter MatsyLR
- Start date
Soldato
It's just a farce. I mean previously you would get an outrageous quote and a bit of haggling on the phone would get that down to not much more than the previous year. But 75% to 200% increases in premiums should IMHO should be under scrutiny by the Ombudsman or whoever in quasi authority has some sort of oversight on that sort of thing.Last year £450
Renewal 'Invitation' £690
Shopping around £600
Same cover, no claims, no policy changes (actually reduced excess now...).
Car's a bottom spec Ioniq5
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Associate
Last year £550, renewal through today at £760. Worst bit is I'm struggling to find anything cheaper from comparison sites too. No changes or claims made in the past year.
Soldato
Just had mine through.... same as last year!... guess its not going up for everyone?
Man of Honour
- Joined
- 21 Nov 2004
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- 45,988
There must be so many more uninsured drivers out there with these costs.
Soldato
Last year was about 330 as part of multicover with my house, this year they're asking 390. Cheapest car only quote I've seen is 363 so there's not much in it.
Including the home insurance, it was 482 last year, 648 renewal offer, and 563 if I go elsewhere. So there's £80 to be saved but £80 more than last year.
20 year old Yaris and a budget mid terrace in Bedford.
Including the home insurance, it was 482 last year, 648 renewal offer, and 563 if I go elsewhere. So there's £80 to be saved but £80 more than last year.
20 year old Yaris and a budget mid terrace in Bedford.
Associate
- Joined
- 28 Jul 2015
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- 148
My renewal quote last August actually went down slightly compared to the previous year, I was expecting a bloodbath so didn't complain. Comparison sites were showing 50% increases, so not sure what was going on.
This year, I'm guessing I won't be so lucky
This year, I'm guessing I won't be so lucky
Associate
AMG C63 Edition 507, had the car for 7 years, only do <3000 miles a year, only used for social/pleasure, last year £475, quotes for my renewal in March >£900, cheapest I've found on comparison sites £837, nothing changed, same job, same house everything.
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Soldato
Last year £620
This year £750
Audi TTS mk 3
Will try and haggle them down a bit after work
This year £750
Audi TTS mk 3
Will try and haggle them down a bit after work
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Soldato
LV= would only drop down to £742, so gone through comparison site, with basically the same level of cover, for £543 and the policy is with Flow which is owned and underwritten by my existing insurance company.
Associate
Just a thought, for anyone who is the only driver on the policy, try adding a named driver, preferably female and see if it brings down the quote.
It seems odd but I found that by removing/adding the wife to the policy resulted in an increase in premium for removing her and a decrease in premium for adding her.
We are thinking of changing the car and this trend showed up on several different make/models of car, always the same, add the wife as named driver, premium came down.
It seems odd but I found that by removing/adding the wife to the policy resulted in an increase in premium for removing her and a decrease in premium for adding her.
We are thinking of changing the car and this trend showed up on several different make/models of car, always the same, add the wife as named driver, premium came down.
Soldato
Comparethemarket, has came back with Aviva at £612.. dont think Hasting will touch that
last year £330 odd this year £540 ish
whatever the exact numbers are I can't remember but % rise was 63% !
run-of the mill Ford Focus (182bhp version)
will call them later in the week
no changes etc since last year
something very odd going on with these policy prices - can't just be inflation ?
whatever the exact numbers are I can't remember but % rise was 63% !
run-of the mill Ford Focus (182bhp version)
will call them later in the week
no changes etc since last year
something very odd going on with these policy prices - can't just be inflation ?
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Associate
It might be something to do with computer generated policy prices, the algorithm is set to "maximum shaft" mode in the hope the policy holder does not phone up and they simply auto renew.
They gonna catch a few thousand tobies every year on that, might even be in the tens of thousands, football stadia full of tobies on auto renew !
I always remove auto renewal from everything where it is in place, too much cheek spreading from that auto renew.
We just had the house insurance quote, they tried to jack shaft it up by 33%, no phone number to call as they said it was an online policy.
Sod that for a game of soldiers, let it expire and took out with another provider. Now the original insurer back on the beg offering phone number to discuss.
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Soldato
Hastings have down to £650, from 750... I will ring Aviva tomorrow to confirm the quote is correct, and then go from there
Car insurance quotes higher in ethnically diverse areas
BBC Verify finds higher quotes in parts of England even after crime and accident rates are included.
www.bbc.co.uk
Not seen it discussed here yet. So, they can't base the premium price on the ethnicity of the driver, but for some reason they charge more if the policy is in an ethnically diverse area? It's no wonder insurance companies won't disclose details of what factors were taken into account, or how they comply with the equality act! If two areas have a similar scores for road accidents and crime, and it's the same car and driver details, shouldn't the policy price be the same?
The way the article is positioned, its hard not to jump to conclusions, however, corelation does not necessarily equal causation.
More than crime and accident rates goes into what loads an insurance premiums. It's also not clear what the source of the data is that they are using and if it is the same as the insurance industry. For example if they are using police data for accident rates, its not inconceivable that the police are only aware of a fraction of incidents which happen on the roads as its a civil matter and unless there is an allegation of a road crime (e.g. drink driving) they are not normally interested.
I do agree that there should be more transparency as to how premiums are calculated across the industry but there just isn't enough information in the article to draw any real conclusions.
More than crime and accident rates goes into what loads an insurance premiums. It's also not clear what the source of the data is that they are using and if it is the same as the insurance industry. For example if they are using police data for accident rates, its not inconceivable that the police are only aware of a fraction of incidents which happen on the roads as its a civil matter and unless there is an allegation of a road crime (e.g. drink driving) they are not normally interested.
I do agree that there should be more transparency as to how premiums are calculated across the industry but there just isn't enough information in the article to draw any real conclusions.