CAR insurance Price increase NSFW

mumsie

Look at the increase

waller02

Same happened to me. Mine almost doubled, so went on compare the market to find it was the standard and couldn't find any cheaper. Pretty ridiculous and all of this seems to have gone under the radar as I haven't seen a single news article on car insurance practically doubling.

Tikay10

Same here.

tai-gar

Same for me. No explanation.

I did manage to find cheaper on Compare the Market but from companies that I had never heard of. Didn't fancy that so just renewed this year.

mumsie

Thanks all.

Looks like we just have to bear it, ill go through the motions of not accepting it to see what gives.

goldon

Their trying to bring back 3rd party Ins at Full Comp prices... hic!

lucy4

Same here but went on Money Saving Expert and got a better deal.



New price which isn't too bad of an increase.

Enut

My car insurance renewal isn't due until February but I suspect it's going to be a similar story, although we have a multi car policy and there probably aren't as may options for changing.

I think the car insurers paid out something like 10% more in claims than they took in premiums in 2023. Combine this with inflation, the state of the roads (more pothole damage claims) and cars generally being more expensive to repair due to lack of parts and rental costs while they're off the road and this increase was always on the cards. I do seem to remember that they refunds me £50 in the COVID period as they had very few claims, maybe because we weren't allowed to drive!

On a related note, our house insurance renewal has come through and they intend to increase it from £630 pa to £951 pa, however I think I can change this and get it for a much more reasonable £350 per annum.

Also, my life and critical illness cover option has just come through too, either increase the premium from £147 pm to £287 pm to keep the same level of cover or let the cover go down by more than half. I'm opting to let the cover decrease as it's done it's job for the last 30 years and I don't need as much cover now.

On the plus side Christmas is over for another year!

mumsie

Cheers for input.

I think I've found a little 'loop hole' to get it down a bit more.
I've not tried it yet.

Right, here goes.

When I put my detail in various compare websites, I get asked,do you have a 2nd car which you drive, to which I tick NO. The small print says having a 2nd vehicle often gives you discount.

Now , my insurance for current car runs out 21st January, and I've already paid upfront for the year.
If I buy a new car this week , get insurance, tick the I have a 2nd vehicle box, I'll get new insurance with extra discount, when my old insurance runs out for 1st car, the car can be scrapped.

I'll then be back to 1 car , one insurance at a discount.
Maybe just maybe.

Essexphil

mumsie said:

Cheers for input.

I think I've found a little 'loop hole' to get it down a bit more.
I've not tried it yet.

Right, here goes.

When I put my detail in various compare websites, I get asked,do you have a 2nd car which you drive, to which I tick NO. The small print says having a 2nd vehicle often gives you discount.

Now , my insurance for current car runs out 21st January, and I've already paid upfront for the year.
If I buy a new car this week , get insurance, tick the I have a 2nd vehicle box, I'll get new insurance with extra discount, when my old insurance runs out for 1st car, the car can be scrapped.

I'll then be back to 1 car , one insurance at a discount.
Maybe just maybe.

High risk strategy, that.

Not saying I love problems with insurers at the renewal stage. But I prefer them to problems at the claims stage.

Insurance has some of the harshest clauses for consumers. Due, at least in part, to the fact that it is the buyer (the insured) that has the most details rather than the seller (the insurer).

If you check the wording, at some point it will refer to your "continuing duty of disclosure". In English, that means you have to tell them of any facts during the period of insurance that may cause the Insurer to consider increasing the premium.

Don't recommend you pay a premium with a "Get out of jail free" card for your Insurer.

PS-it is usually the case that motor insurers pay 100% of premiums in claims. The really big claims take years to resolve. And their profit is on the interest on your premiums. Which, in periods of high inflation, go up massively. But motor insurers never tell you that

mumsie

I see what you are saying.
I do come from a time when little scams were the norm.

I can see what will happen, when I disclose my change of circumstances , they will bump my insurance up and lump on an admin charge putting me worse off.

Reminds me of something a mate if mine did about 40 years ago.

He was living in Seaford at the time and driving around uninsured, he had a little prang with another car around lunch time, they both got out to assess the damage and swap insurance details.

My mate told the other driver he didn't have his insurance details with him, but if he waits a moment he can retrieve them from the insurance shop round the corner.

He popped in the shop and got some insurance cover, the seller asked when would he like it to start from , either midnight tonight or 9:00 am this morning.

Boom, them were the days.

HAYSIE

Average car insurance cost in UK nears £1,000 after prices rise 58%


https://uk.yahoo.com/finance/news/average-car-insurance-cost-uk-050015473.html

PaintedOne

its probably because of all the electric car fires that the media also fail to tell you about for obvious reasons and also remember, although i know you don't believe it , they don't want you driving much longer.

mumsie

PaintedOne said:

its probably because of all the electric car fires that the media also fail to tell you about for obvious reasons and also remember, although i know you don't believe it , they don't want you driving much longer.

Who are all these they people that dont want us driving?
Who are these media and what are they failing to tell us?

Please don't bother replying.

You are just repeating the paranoid soundbites you get from parts of the internet but you cant piece any of it together.

PaintedOne

they are mostly all in davos this week

HAYSIE

PaintedOne said:

its probably because of all the electric car fires that the media also fail to tell you about for obvious reasons and also remember, although i know you don't believe it , they don't want you driving much longer.

I did a thread on electric car fires the other day, from articles in the paper.

HAYSIE

The RAC were £50 cheaper than my renewal quote.
I also took out a deal they have on 2 services, and 2 MOTs.
One major service, and one minor.
I usually pay the dealer around £1100 or £1200 for the two services, and 2 MOTs.
The RAC deal is £22.50 per month for 24 months.

HAYSIE

PaintedOne said:

its probably because of all the electric car fires that the media also fail to tell you about for obvious reasons and also remember, although i know you don't believe it , they don't want you driving much longer.

Are electric car fires really that common?




The one EV fear that refuses to go away, however, is the claim that they’re much more likely to catch fire than are traditional combustion-engined vehicles. Pictures of electric car fires pop up regularly on social media, usually showing a flaming or burnt-out Tesla somewhere in America, with the caption “Look how dangerous electric vehicles are!”

In fact, it’s an urban myth – research into actual cases has shown that EVs are much less likely to combust than their petrol or diesel equivalents. That’s not to say that all those pictures on social media never happened; you just don’t see an equivalent number of photos of petrol cars burning to the ground…

https://www.thecarexpert.co.uk/are-electric-car-fires-really-that-common/

Tikay10

HAYSIE said:

PaintedOne said:

its probably because of all the electric car fires that the media also fail to tell you about for obvious reasons and also remember, although i know you don't believe it , they don't want you driving much longer.

Are electric car fires really that common?




The one EV fear that refuses to go away, however, is the claim that they’re much more likely to catch fire than are traditional combustion-engined vehicles. Pictures of electric car fires pop up regularly on social media, usually showing a flaming or burnt-out Tesla somewhere in America, with the caption “Look how dangerous electric vehicles are!”

In fact, it’s an urban myth – research into actual cases has shown that EVs are much less likely to combust than their petrol or diesel equivalents. That’s not to say that all those pictures on social media never happened; you just don’t see an equivalent number of photos of petrol cars burning to the ground…

https://www.thecarexpert.co.uk/are-electric-car-fires-really-that-common/

And there we have it.

green_beer

save some cash and the planet, walk, bike or get the bus...............lol

interesting fact in scotland bus travel is free for everyone up to the age of 23 and those over 60.......

do they do that in england?

HAYSIE

Tikay10 said:

HAYSIE said:

PaintedOne said:

its probably because of all the electric car fires that the media also fail to tell you about for obvious reasons and also remember, although i know you don't believe it , they don't want you driving much longer.

Are electric car fires really that common?




The one EV fear that refuses to go away, however, is the claim that they’re much more likely to catch fire than are traditional combustion-engined vehicles. Pictures of electric car fires pop up regularly on social media, usually showing a flaming or burnt-out Tesla somewhere in America, with the caption “Look how dangerous electric vehicles are!”

In fact, it’s an urban myth – research into actual cases has shown that EVs are much less likely to combust than their petrol or diesel equivalents. That’s not to say that all those pictures on social media never happened; you just don’t see an equivalent number of photos of petrol cars burning to the ground…

https://www.thecarexpert.co.uk/are-electric-car-fires-really-that-common/

And there we have it.

Again.