Massive Car insurance costs?

Someone at work just passed his test and has bought a basic mx5. He reckons it's only 1500 for the year but that seems suspiciously cheap for a first time driver (although it is only 100hp).
 
katy81 said:
Maybe not the whole premium.

But maybe everyone should get like 75% back.

The rest can go in the pot for repairs, admin costs, profits. Etc.
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IF they did that then it would signal an end to no claims bonus.
I dont like how expensive car insurance is, but i would rather have a no claims bonus i think rather than have to pay say £3k but get 75% of it back if i dont claim. Yes it stings for the 1st few years but get those out of the way and if you are a good driver things get manageable.

if you think me having >20 years no claims, in any system would allow me to pay £750 AND get even 50% back on that let alone 75% if i dont claim, then you are kidding yourself.


£3k with 75% back would be equivalent to me currently now IF i dont claim.............. but 1) that is a big outlay and 2) it would massively screw me over if i did have to claim. Having a sword of Damocles hanging over me like that would ruin any pleasure in my car and (more importantly from the insurers POV) likely make me a worse driver as i would be more hesitant. (hesitancy potentially being almost as dangerous as over confidence imo)
 
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bigmike20vt said:
IF they did that then it would signal an end to no claims bonus.
I dont like how expensive car insurance is, but i would rather have a no claims bonus i think rather than have to pay say £3k but get 75% of it back if i dont claim. Yes it stings for the 1st few years but get those out of the way and if you are a good driver things get manageable.

if you think me having >20 years no claims, in any system would allow me to pay £750 AND get even 50% back on that let alone 75% if i dont claim, then you are kidding yourself.


£3k with 75% back would be equivalent to me currently now IF i dont claim.............. but 1) that is a big outlay and 2) it would massively screw me over if i did have to claim. Having a sword of Damocles hanging over me like that would ruin any pleasure in my car and (more importantly from the insurers POV) likely make me a worse driver as i would be more hesitant. (hesitancy potentially being almost as dangerous as over confidence imo)
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Valid point to be fair.
 
I renewed today, with my policy set to expire mid June. The cost for the main policy only went up £100 to £600, I was surprised at that considering I had a no fault accident back in November '23 (which apparently the total cost was £14,769).

Managed to get it down a little from the +£100, after they updated the address and brought my mileage down as it was overcalled on last year's policy versus what I'm actually doing.

This was remaining with Chris Knott (policy with LV Broker), others were coming in much higher.
 
he said no fault.

My wife also had a no fault accident back in November. not sure exact cost but our car was written off (£3300), a honda civic was written off, an ambulance was written off and there was damage to another car which was likely repairable. i dread to think how much that lot cost (mostly the ambulance)

it had an impact on our insurance but was negligable.

even at fault accidents............ yes they have an effect but that is why most people pay extra to protect their no claims bonus to minimise the hike....... otherwise you could have a perfectly good driver with a decent driving history making 1 mistake and then no longer being able to afford the insurance on the car they own.
 
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Trying to get some quotes today -

never used elephant before and had to upgrade the browser version before their site would even accept the car reg, wth
but keeps giving me
There has been a problem creating your policy. Please call us as soon as you can
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is their web site usually unreliable ?
 
Just got re-insured on my car, renewal quote with 1 yrs NCB was £674, last year it was £800, thought whatever, bet I'll beat that in a price comparison website....cheapest was £1450!!! Needless to say I'm accepting the renewal.
 
I was with Admiral Multi Car, but the renewal wasn't great.
An evening shopping around got a much better result for our small fleet with pretty much the same excess / benefits / hazards.

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My insurance is due in about 6 weeks, really hoping it comes down this year. Last year’s increase what most people got, really made me question is it worth it? If goes up anymore this year I will seriously have to consider changing cars.
 
Renewal from Direct Line for my Skoda Fabia came through, 9 years + NCD + business use & wife as named driver, they wanted £438 to renew. Ran compare the meerkat search and Hastings Direct wanted £345 as a new customer. Called Direct Line 10 mins ago, and I spoke to an agent who applied a 'discount' to my policy and my renewal cost dropped to £355.36!!
 
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I checked a few months ago when the people started mentioning prices had gone up a lot, on my F11 530D. I usually pay around £500ish. It had gone up to about £700-800 from most places on a comparison site.

Checked again a month from renewal (April i think) and it came to about £510, so basically the same...

I never renew with anyone, it will always be higher.
 
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