Reply With QuoteRight - I noticed that too. I do have the T8 plug in hybrid which can go very fast, I wonder if that accounts for it.Originally Posted by NickGaters
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Must be something about XC90s. Mine has shot up from 600 to nearly 800 and many companies were wanting a black box to be fitted. They can stick that! I'm 48 and no accidents, claims or convictions for 20 years now. Not impressed
Right - I noticed that too. I do have the T8 plug in hybrid which can go very fast, I wonder if that accounts for it.
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Mine is a volvo xc 60 hybrid t6 and that has doubled in price
Missus Agila renewal price is £125. If I can be bothered and go through Confused.com I’ll probably get it down below £100 with £30 cash back.
Apparently keeping a car on the drive can increase the premium compared to being parked on the street (easier for thieves with the keyless remote trick).
Our specific postcode only has 10 houses in it and 2 have had their cars stolen in the last couple of years, so we're expecting a price hike off the back of that at renewal.
Car thefts up 25% must be having a significant impact on premiums.
https://www.driving.co.uk/uncategori...ent-in-a-year/
I drive a M5 Comp and my insurance renewal was for £2450 this year, I paid £700 last year……..
Having looked around the cheapest I can get is £1850 with a £1500 excess which is just crazy. I have added 3 points to my license for motorway speeding but that’s hardly excessive and only the 2nd lot of points I have had in 30 years of driving.
Absolute disgrace if you ask me!
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Inflation driven car repair costs have significantly increased adding to insurance premiums.
Two years ago I had an oil change on our old city car. It cost £50 with one of the usual kwik-fit type outfits
Now they want £110. For 3 litres of oil (£10), a filter (£5) and 15 mins of labour!
I’ll do it myself at that price.
Similar thread running... https://forum.tz-uk.com/showthread.p...urance-renewal
£10?! What do you use? Stuff for my chip pan costs more!
Haha I thought the same!
Ouch, there was me sulking about the indignity of my increase across all the cars! And after shopping around, my existing renewal was still cheaper than elsewhere.
My wife kindly added 3pts to our insurance for the same thing. Think that increased it overall by about £200+ across the 3 cars. How she couldn’t notice travelling 14mph faster than everyone else in a temporary 40 limit on the M4 worries and puzzles me, but have learned never to mention it.
There is no real logic it seems. I added by 42yo brother in law to the Porsche insurance for the last 3 months of this policy as he loves them but never driven one. Cost was 34p and no admin charge. This year, same insurer, he has somehow become a £100 incremental cost for the year. Madness, no extra risk than he was for the previous 3 months.
Ouch - if only this thread didn't pre-date that one.
Just linking the two, not favouring either!
New Toyota 1.5 Yaris.... on the Go Compare site Hastings quote was £385 comp. Direct Line was £615!!
Ridiculous differences.
Just got my renewal and my premium is up from £500 to £800 on last year. We did move house but within a few miles distance. A lot of companies didn’t even quote. Car is a BMW 435d for reference
Same, my premium went from £730 to £950. And I have 12 years of no claim discount. Car is 520d in London.
I posted on the other thread, my Volvo Xc90 renewal in London went from £600 to £1200 with no claims.
Also I wanted to have some scratches refinished where someone has scraped along the side and was quoted £500! Can anyone recommend anyone to refinish scratches? Thanks.
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I spent half an hour online chat with Admiral yesterday after a 50% increase. I got it down a bit but despite asking the question several times they could not tell me why my Aston Martin cost £300 pa and my 2012 1.4 Polo cost £550 pa
Bizarre
Mileage set for each car maybe.
The BMW Facebook groups have the same posts every day, the M140 and M240 insurance are getting out of control, people paying £600-£1000 last year and now prices are £3k+ and seems to be getting worse each month.
A work colleague has a RR SVR and most places are refusing to even cover him
RAC car insurance customer service is likely to be as slow as the RAC motorbike insurance.
I am on the live-chat now - a slow 15 minute wait to speak to a real person, with no sign of a response.
Or I could call the 0330 number number and be charged for the privilege.
It would be easier to shop around somewhere else, or call the RAC as a new customer.
Last edited by Reeny; 29th August 2023 at 10:50. Reason: 15-minutes and counting
0330 numbers come out of your inclusive minutes on your mobile unless you’re on PAYG?
Just been offered a renewal from Budget Car insurance. Last year £232 and change.. this year £396 and change...seventy per cent uplift... Same car MG5LR electric. same drivrr and storage details but one year's extra NC discount earned. Sent them an email asking if there was some mistake and got an answer straight back saying sorry you're leaving etc.
So it's off to the comparison sites to do the annual dance ...
Generally 01, 02, 03, 07 and 08 numbers.
Up until Dec 12 I was driving a utilitarian VW FOX and paying £366 (nett of 10 years NCD) for fully comp insurance inc. b/down cover with £500 excess plus usual legal benefits / protected NCD. Had I renewed with same insurance co., the premium w.e.f. Jan 17 2024 would be £535 with 10 years NCD.
I've recently bought a low mileage 2002 Volvo V70 and added its insurance to the VW policy – for the remaining one month (ish) term of the VW policy and after selling the VW on 13 Dec. The insurance co. then quoted me £1224 for the Volvo insurance renewal w.e.f. 17 Jan 2024 which I thought was a bit on the high side for a £500 excess and declared 4000 annual mileage. Thus sought Volvo insurance quote from LV Insurance – requesting same £500 excess and 'add-ons' for protected NCD, hire car etc – and was quoted £899 – which seems 'reasonable' given current motor insurance premium increases. Maybe I could have found a cheaper quote by shopping around further but I doubt if other insurance co's offer all the benefits of LV cover – and I was in no mood this morning to seek yet another quote. Next year I'll shop around a bit more.
"Well they would say that ... wouldn't they!"
Sorry, you are paying the best part of £900 for a 2002 Volvo with £500 excess?
How many cars have you crashed, that's astounding for 4k miles a year, surely some history there?
Would assume your part of the world was cheaper for insurance.
Zero crash history (10 years NCD and accident free) and premiums are not necessarily lower for older cars.
And I'm a former insurance professional thus reasonably knowledgeable about premiums and risk and can talk to brokers using insurance terminology.
"Well they would say that ... wouldn't they!"
Wow I am amazed at the cost, there must be a cost / age / vehicle age sweet spot.
What do you think is your risk here, as we have 2 Porsches and a Smart insured for less, both Porsches on 5k miles and the Smart unlimited, it astounds me.
You have a good deal but have not stated when your renewal is due – and your 'we' also has limited Porsche mileage and a lower risk Smart car. My VW was a low risk and relatively slow hatchback.
I live on a housing estate and car is parked on my driveway. The Volvo is a powerful and much faster car than the VW and repair cost much higher – thus I'm not 'astounded' having had quotes from two reputable insurance co.'s.
I've also read other comments from forum members ref their surprisingly high insurance renewal quotes.
Last edited by sundial; 18th December 2023 at 23:13.
"Well they would say that ... wouldn't they!"
I was told that the increase in premiums was due to electric cars on the road, apparently it costs a lot to fix them if in an accident.. personally if that’s true I think the people who have electric vehicles should be paying the increased cost
If it’s your fault you (or insurer) should pay whether ev, elderly Focus or expensive supercar.
Just been quoted £650 this week with all bells and whistles for a 10 year old 981 Boxster S with an excess of £350
This is with 1 yr NCD, post a no fault accident which wrote off my last car and with 3pts on my licence for doing 73mph on the M4!
Can’t believe what you are paying for a 20 year old Volvo!
It is what it is. My own policy for the BMW I lease via one of my businesses has gone up from £400 to £680 with all the comparison sites at another £100 minimum for companies I’ve never heard of!
My Tesla Model 3 was £850 last year and I've just renewed for £1650
Roughly 650 last year to about 1,200 this year on a model 3 parked on the drive in outer London
Volvo is a long vehicle and does not have reversing sensors – and I live on a housing estate where car is parked on a driveway. There is a history of car vandalism on the housing estate including arson.
"Well they would say that ... wouldn't they!"
Yes I’m aware of that , I meant paying the increased cost of the premiums
My van was recently clipped on the rear offside corner. The damage is to the door, rear panel, bumper and light.
With paint, labour and sign writing, I’d not be surprised if it gets written off.
Yes, it’s an EV but apart from the light, everything is identical to the diesel version so the cost of repair would be practically the same.
Yes, realise that - my point/opinion is that whatever we might damage (expensive or not) is down to us with concomitant premiums.
Has the number of UK Underwriters gone down since Brexit? Wouldn't surprise me if the underwriters are no longer competing for business with the nett result that premiums are climbing.
As to an old car costing more for cover due to expense of repairing - a cheap old car if claimed on, is simply written off by the underwriter at a very low threshold.
With premium’s for EVs like those stated above, it’s another reason for dead slow sales in the private sector.
Just had the first renewal notice for the Leaf E+, it has gone up from £565 to £623, (16k miles, £500 excess, fully comp. & protected NCD), which isn't as big an increase as I thought it might be from reading this thread. The 2l Octavia goes from £236.77 to £348.85 for 5k miles, might do a bit of shopping around for that one.
Don't just do something, sit there. - TNH
I was always with LV until 3 years ago when they merged with another company and raised their premiums. Then I changed to RAC for one year and AA this year. Neither the RAC or the AA own an insurance co. – they only act as a broker for other insurance companies. Last year LV offered me the best ever house contents insurance so when AA car insurance quoted me a too high premium for the replacement Volvo, I approached LV again and spoke to one of their brokers – who offered me a better deal than the AA. It's possible I could have obtained a better deal with LV had I completed their 'online matrix' and not spoken to their broker – who likely loaded in their £commission (that's how they £earn a living) Car insurance can be a merry-go-round when seeking quotes and the whole car insurance industry is likely in a state of chaos ref insurance actuaries still getting to grips with the cost of repairing EVs as distinct from ICE vehicles – and there are two types of EVs, hybrids and pure EVs, each using differet types of batteries. EVs are in a different risk category to ICE vehicles – but ICE cars are still likely in the majority on our roads. Car premiums depend on actuaries' "loss ratio" calculations – the claims costs within the different risk categories determine the loss ratios. EV repair centres appear to be scarce and their services are more expensive than regular ICE vehicle workshops. The car repair industry is still not fully geared up for EV repairs. Furthermore, all motor insurance co's "reinsure" their excess claims and those "excesses", resulting from higher than anticipated EV repair costs, result in 'increased reinsurance premiums' – which inevitably increase insurance co's costs – and result in higher car owner premiums. When there are more EV accident repair workshops, the cost of repairing EVs will likely decrease and EV insurance premiums may then also decrease. However, I imagine that actuaries have a very difficult time trying to assess future EV claims costs and trying to 'balance their books'. In time things will improve but it could take a long time – and meantime the insurance co's have to try and be competitive – without themselves risking 'going under'. BW, dunk
"Well they would say that ... wouldn't they!"
Porsches were about £350 each, including the increase for my wife’s speeding ticket which is about £60 of the cost per car.
Smart was about the same, give or take £5. It’s group 8, so lower end of the scale, but a std Up is group 3, the GTI is 17, so middle of the road in the comparison.
Policies started Sept this year, so already had the high increase; my Cayman was only £160 last year and the year prior, and the Smart was £155.
Last edited by Mj2k; 19th December 2023 at 10:39.
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For a run of the mill Merc oil burner. 62, driving 40+ years no accidents but 3 points. Absolutely crazy.
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A Porsche on my housing estate driveway could be a magnet and a challenge for the car vandals. You appear to have a good insurance deal and likely reside in a less risky location.
"Well they would say that ... wouldn't they!"
Crumbs! Where do live and I hope your watch collection is suitably secured!
Both mine and my wife’s renewal notices came in over 35% increase with two different insurers. Nothing find online at comparison sites can even match the renewal price, mostly similar to slightly higher. Managed to haggle down both the insurances with current insurers to just around 22% increase compared to last years’’ in the end
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