So had my car now 3 years been driving nearly 4 years, got a full 4 years no claims discount and honest job and always pay in full for it. So last year fully comp, 0 excess and 10k miles I get a quote for £520 bearing in mind this includes windscreen and legal cover. This year I can't get a quote for less then £900 even though I'm now over 25 and have another years no claims.
WTH?
Yes, Insurance companies are screwing us just like every one else and why not? They may as well just join in.
This country is a joke, forcing us to legally have insurance to drive then allowing people to make huge profits from it.
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Wow, that's some price hike!
My insurance went down by a whole £8 or so much to my surprise.
Going from a honda accord 1.8i (rover 600 style) to an Audi A4 1.8T sport (much more power and cost >3x as much as the Accord....... raised my premium by 3pOriginally Posted by burble
It's a travesty I tell ya
And FWIW I'm paying less under 25 with 2 years NCB, I think area has a lot to play (as in <£900)
Same location?
I was shocked when I got almost a £600 (yes, six hundred!) refund from a postcode change!
The thing is, insurance quotes nearly always seem to reflect two main principles :-
1) Actuarial data.
2) Profit-making.
The first of those says it's very hard to predict what will increase or decrease a premium. Value of the car has an impact, but it's generally a pretty small one. Even engine power or performance isn't necessarily a good guide - by comparing an M-series BMW and a significantly less powerful and less sporty Jaguar, the Beemer cost me under half that of the Jag.
So .... if actuarial data puts a particular model as a good risk factor, it may lower the premium compared to a less powerful car.
And actuarial data is changing all the time. If theft rates for your model have gone up since last year, or if theft stats in your area have, you premium will too.
Then, there's the second factor. It seems to me that if you stay with the same company for more than a year or two, they (or most of them anyway) don't take that as customer loyalty and reward it but as a sign that you're too stupid to check around, so they clobber you.
Put all that together and the message is, as far as I'm concerned anyway .... always get a few comparative quotes. It can be an eye-opener.
One more thing. Insurance companies can change their target market. They might be interested in a given demographic one year and less interested, or not at all interested, the next. I ensured an M3 with the same company for several years, then one year, they simply wouldn't insure it. Period. It wasn't that they charged more, they just declined to renew. And there had been no accidents, no claims, and I've never had any form of driving conviction, not even speeding, before that, or indeed, since. I was, at that point, a mature, professional driving an up-market model with a clean driving history and yet they still suddenly wouldn't insure a model they'd been happy to insure the previous year. Why? They told me they no longer do group 20 (or above) cars.
I'm possibly going to get in trouble for this comment, but insurance companies are like women .... the way they work and think is a complete mystery to the mind of mankind.
£760 - 24yrs old - Fiesta ST 2.0 for me.
When I had the corsa when I was 17, was quoted £1,500
Never had a crash in my life *touch wood*
Atm I am unable to drive, due to having an Epileptic Seizure in September, so need to wait till October till I can drive again. Wonder how this is gonna affect the insurance.
Just can't understand it lol, I mean the car is only a measly 1.6 Honda Sport, its insurance group 6 for pittys sake. Its worth a third less then it was last year as well so really doesn't make much sense that the premium has gone up.
I've moved address but changing it back to my old one still turns up the same prices.
Almost makes me want to take the bus lol.
*Edit* Correction, changed the car kept overnight address to my old one and its suddenly dropped £400, what a bloody difference..
Try Admiral insurance. They worked out best for me. This is my 3rd year. Insurance is still above £1,000. ****ty S-reg Corsa 1.0l as well!
First year was 2k, second year was 850 quid (figure that one out) and this year was 1k. No idea how this works. I swear they make these figures up!
Yup, it's a kicker mate. The location has huge weighting on price as I also found out. In some cases literally a postcode a few roads away can be a few hundred difference. Madness.
Yes .... and no. A few streets can make a huge difference to the likelihood (according to the stats) of, for instance, a theft claim. If you have some scumbag hit a number of addresses in your area, and they all result in claims, it makes the stats look bad and the insurance company computer says, not unreasonably, risk up = premiums up.
Or it might be nothing to do with a sudden surge but a long-term trend. Area A has good street lighting, houses with garages and few easy targets, while area B has poor lighting, and no garages or drives so cars are in the road and therefore much more likely to be nicked .... or damaged while parked. And so on.
All true. But....I make a point of driving bangers so I won't really care if they're stolen. I also have something like 8 or 9 years no claims, and a faultless driving record.
And....on Confused and MoneySupermarket, I don't think I've ever had a quote for Third Party Only insurance that wasn't more expensive than TPFT. I would take TPO if it was cheaper, because while I have TPFT I wouldn't claim if my car got nicked, because the payout on a £500 car after my £250 excess probably wouldn't even cover the next year's NCD, let alone the years after that while I was building it up again.
That really doesn't make much sense to me.
And to the OP- unlucky mate, and I sort of feel your pain, is all I can say. When my renewal quote came through about 3 months ago it was higher than last year's premium. I didn't bother searching for a cheaper quote because I didn't need to use the car (I have two), and every year up until now I'd just let my insurance lapse and then got a new quote on one of the search engines (usually from Admiral or one of their sister companies, they're always cheapest for me). When I did have to reinsure the car a month later, the quotes I was getting were around £100 higher- so I had to ring Admiral and beg them to reinsure me at the quoted renewal price- which they did, but not before bunging on an extra £40 because my car, while parked at the bus garage where I work, had been hit by one of our buses, a claim which was dealt with by my employer's own underwriters.
I'm sure this is all due to insurance fraud and spurious claims, by the way. Next time someone boasts to you that they got two grand for a whiplash claim, via some ambulance chasers advertising on daytime TV, make sure you explain to them that their windwall came at your personal expense.
You do realise that the insurers have actually been making a hefty loss for quite a while....
The 'where there is blame, you've got a claim' lot have forced the prices up plain and simple.
An interesting point, I'm sure that now the council round here are turning off the stree lights at midnight that'll effect insurance even though my cars parked on the driveway..
However as the council are spending less money (job cuts and using less electricity) whatever the increase in my insurance I'll be able to offset with the lower council tax rates I'll be paying
Just shop around a lot. My quotes varied from £400 to £1500 based on exactly the same details. There were 2-3 around £400-500 and loads in the £1000 region with several at the £1500 end. I have maximum (over 10 years) no-claim discount, over 30, married (makes it cheaper), and zero demerit points and fines. Still received some crazy quotes though.
This isn't true, Admiral made over 200 Million in Profit last year! Not bad when you think their turn over is 1bn
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