Reply With QuoteMy renewal went up about £350 to £950 with no changes.
Went on comparison site and best I could get was £850.
Rather painful after paying my new driver daughter's premium of £1650
I received my car insurance renewal today, I have full no claims, clean licence for years .
Last year £404 which after checking around was expensive but my cars, house and pets are all with the same insurer so I thought bugger it stick with them.
The new yearly premium is £682!!!! a 69% increase !!!!!!!!! after ringing them and chatting they got the price down to £476 which is still about a 18% increase on last years already expensive price IMO.
Having looked on moneysupermarket I have been quoted £325 (not the cheapest) which is about 20% cheaper than last years and about 30% cheaper than the cheaper negotiated premium.
Wow it pays to check especially these days.
My renewal went up about £350 to £950 with no changes.
Went on comparison site and best I could get was £850.
Rather painful after paying my new driver daughter's premium of £1650
Existing thread on this https://forum.tz-uk.com/showthread.p...Car-Insurance!
Thanks, I missed that :(Originally Posted by reecie
Cost of living crisis = bandwagon profiteering. I’m sure some sectors / firms are genuinely struggling to survive, but lots of times we are seeing record profits! That’s what boils my pi55.
Cheers..
Jase
Agreed.
This, in spades.
Boardroom: "Hey guys, everyone else is increasing prices so why aren't we?"
Voice of reason: "Because our business isn't directly affected by food and energy inflation, so it would be immoral to profiteer off the backs of our customers' economic misery."
Boardroom: "Yeah, but…"
Price hikes all round.
Always curious when an invisible product goes wildly up in price. Must be that boat stuck in the suez or general supply chain woes.
Surely couldn’t be a group a greedy guys all secretly agreeing to increase prices.
No execs have ever been found guilty of that. Least of all for milk.
The increase is totally justified owing to the impending lemming effect, with droves of pedestrians launching themselves in front of cars.
I'm sure a lot of people have automatic renewals enabled on their policies. I'm also sure that there are many who won't argue their case and simply accept this blatant profiteering for a 'quiet life'.
When you actually get the opportunity to speak to someone most of the 'agents' are working from home and I suspect they have very flexible commission opportunities, hence why you can get wildly varying quotes depending on how avaricious the agent feels that day.
Car insurance is Government legislated extortion.
It's ok if you enjoy the annual strife and struggle to get a fair deal but i feel sorry for those who can't or won't dispute scandalous increases.
The cost of claims has gone up though, parts, raw materials for parts. It's this cost of claims which is driving the premium hikes as far as I understand it. You just have to read direct lines results to see how hard that's biting.
If that were the case, the pedestrians would be at fault and would not be able to make a recovery from the car insurer.
Waiting to see what our cars go up this year, especially as beloved got 3 points. Will do the updates minus the points to find the cheapest and then the extra with the points is out of her fun-hobby-fund as be buggered if I’m paying for her lack of concentration on the M4.
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Done a comparison in anticipation of my renewal which came out with the cheapest price £100 or so more than last year. Braced myself for a wallop when my renewal arrived.
Renewal received from Axa with a £40 reduction on last years premium. First time I’ve ever received a renewal lower than the previous year without having to call and go through the motions.
Mine jumped 30%
I phoned the provider who said that the area I live in had become less desirable to insure people!
I cannot find any crime stats to back this up, but many insurers (I called a number of them) declined even to quote me.
I am early 40’s with a number years NCB, multiple cars, a homeowner, an advanced driver and fellow member of the IAM, and drive a not-mental 5 series Beemer
I managed to find one place via comparison sites that was only a £30 increase and have gone with them.
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33% increase here (£150 in real terms). Nothing changed from my end, no accidents or claims. Rang them and they offered to knock a piffling £34 off. No thanks says I, that was their best offer and no further room for negotiation. Obviously don't need the business! I have had multiple quotes elsewhere that will save me over £100 off the LV quote so will be taking my business elsewhere this year.
Mine as increased even after quite a shop round, its costing £136 more.
Mine was £195 last year, renewal came through at £350, so as usual i went off to comparison sites expecting to get it nearer last years price and change provider. Cheapest quote £400, so i've just accepted my £350 renewal
Hi
Up for renewal with Ageas very shortly....was £212 last year , £312 this year and have been unable to beat it on any comparison site.
Also ( and not that it impacts me ) but I've heard Range Rover insurance in London is now nigh on impossible due to theft ???
Best Neil
I kinda felt a little bit of a victory here...
Last years premium was £ 392 so when the renewal came in requesting £ 560 I wasn't over the moon at all. I called them and gave them a chew and had it renewed at £ 417.
Why I should have to make the phone calls at all is beyond me ???
Well tempted fate here didn't I. Prang on the way home tonight, only a front bumper scrape and hopefully a non fault, but that's next year's premium sent sky high
If non fault & fully recovered, you will be fine.
I had a non fault 2 years back, £1300 to repair and the year after was my lowest insurance ever.
If your front bumper has hit someone then might be tricky getting a non fault.
Yeah might be tricky as no witnesses stuck around, but you never know. I was sat in traffic, lights a little way ahead red, so I left a gap for cars to pull out of a side road in my left, car waiting to turn right, she didn't take the opportunity of clear traffic the other way, lost her chance so I started to crawl forward as traffic in front had cleared, she started to crawl forward while looking left, never glanced right to see me I clocked it and stopped, she crept forward a little more, still looking only left, then went for it, still only looking left as she did so while turning right, scaped the corner of her car across my front bumper. Bit annoying as the car is only 5mths old, same happened with my last one at 3 months old, saw a woman scrape across my front bumper trying to park as I was walking out of the swimming pool with the kids
Last edited by Brighty; 22nd August 2023 at 20:15.
And yet, DL tried to give me a £210 increase in premium this year and it took me 10min on the phone to negotiate it back down to a £45 increase.
Insurance companies practice of relying on people not bothering or forgetting to check before renewal is borderline criminal.
Recent renewal which I forgot to do was 350 up from 300. A letter arrived in the post a few weeks ago from the Police advising me I had no insurance. I had forgotten to do it!! £450 was the renewal. However, a crash the other week and not my fault. My excess of 450 has been waived and a loan car provided which was not in my t&c
Exactly the same here with my Direct Line policy for the past 3/4 years. Each time it’s come through with a proposed 20-25% increase (with zero claims or change in circumstances) I’ve called them and 10 minutes later it’s back to where last year ended up.
Just feels like they (DL) try it on in the hope that most customers can’t be bothered to call in and just accept the new offer.
Insurance Premiums have gone up this year for a number of reasons, in no particular order, none of which are "profiteering". Straight off the top of my head
1) Parts for cars are still in short supply so repair costs are increasing
2) Garage are rasiing their labour rates to offset in creases in energy bills for all the kit they run
3) After 2+ years of "work from home" people are going back to work and driving more so there are now more cars on the road. More cars = more accidents
4) Peoples already dubious driving skills and awareness have deteriorated after 2 years of not driving much so they crash more
5) Delays in parts being available and the increased costs of those parts is resulting in more cars being written off, which gives a higher claims cost
6) Society has changed, crime rates and types have altered resulting in a differing profile to the risk
7) Impending ULEZ expansion has lowered the value of non compliant cars/vans in ULEZ areas. This in turn will result in an increase in such cars "getting stolen" by some from people desperate to get as much money for their car as possible which may have halved in resale or part ex value
8) Increased numbers of electric vehicles on the road, subsequent increase in accidents involving them resulting in which involves a higher repair cost and increase in vehicles being written off due to batteries being damaged.
9) Insurers re-aligning their market position and underwriting philosophy to reflect the above and try to balance the books. Certain area's, vehicles, type of driver etc are simply no longer viable to have as business due to the high number and value of claims involved with them.
10) Under insurance regulations , insurers are requeired to hold enough funds in reserve to meet their claims exposure. More / higher claims means increased premiums to ensure legal responsibilities are met.
Had mine in from Sainsbury’s Insurance last week. Premium up 12.7%.
Confused.com cheapest was +57%. Compare the market was +152%!!
Nothing has changed, however I wanted to up the mileage (from a low figure to slightly less low). Site says I can make changes on line but I can’t see how. Tried to ring and the message tells you long waits so to use the online service. Also helpfully said they’re particularly busy on a Monday. it’s Tuesday!
My monthly renewal hasn’t changed for 3+ years and no advised change so far this year.
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Completely agree with all of those market observations that have driven insurance underwriting and premiums upwards. However it doesn’t fully justify certain companies trying it on until they are, maybe, challenged by customers at renewal time.
Saying that, by the time I renew next year I bet Direct Line finally refuse to lower the increase I’m querying! 🤣
Every year I have to call Admiral to ask for money off the multi car policy and succeeded in getting 7% off yesterday for my September renewal. Why can’t they just offer the reduced premium on renewal in the first place?
Because lazy people= more profit
My renewal was a £30 increase over last year...ringing round and changing insurers has saved me £60.
Have you ever gone into a shop to buy something, and when you pay for it you got told "Oh by the way, you could have bought this 20% cheaper at xxx shop over the road". Retailers sell a product for what they think customers will pay for it. You could try and ask for a discouont but becasue we are British, we tend not to.Why can’t they just offer the reduced premium on renewal in the first place?
.....it doesn’t fully justify certain companies trying it on until they are, maybe, challenged by customers at renewal time.
Or had a tradesman or a garage ask "whats your budget for this?" and quote you just short of that amount ? Then when you tell them you have had cheaper quotes elsewhere they miraculously lower the price to a far more reasonable level "just because its you and you're a good customer" etc etc.
... it happens in all areas of business.
Customers who do their research and look around for the best price nearly always save money, Insurance is no different other than you dont get a physical object for your money, just a promise that they will be there when it goes wrong.
It's just easier to "shop around" for insurance with all the comparison sites that are available that can give you a multitide of prices in seconds, and "haggle" to get a reduction with the information available. If an insurer wants to keep you as a customer then they will offer you a deal...if they don't, they won't.
Last edited by Kris; 23rd August 2023 at 20:24.
Reported it last night, confirmation today that no excess to pay and I've been contacted by a like for like hire car company rather than my insurers own standard small hatch courtesy car for at fault claims, as well as a repair company, so I assume the other driver was honest enough to incriminate herself and it's a no fault for me
Directline here and original renewal c50%/£120 up on last year. They initially refused to reduce it but did so by £60 after I provided price comparisons which they effectively matched. Guess that's inflation, Brexit etc benefits kicking in.
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