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Car insurance renewals

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No endorsements and I wish I was young. Mid 40s but I only decided to learn to drive in 2010. I have 6 years NCD.

 

---------- Post added 24-08-2017 at 14:51 ----------

 

 

This was my thought at first so I carefully checked everything but no, I entered all the right details for a similar level of cover. I say similar, the higher quotes are for slightly less i.e standard small courtesy car instead of large family saloon like I have on this years policy.

Im confused I have to say.

 

It does seem like a massive jump in price, and a lot of money.

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That seems like a massive premium then, where do you live, Beirut?

 

---------- Post added 24-08-2017 at 15:08 ----------

 

Mines not due yet but have quickly checked and it's coming in £20 cheaper than last year (well, Feb 2017) and the wife's £6 cheaper. It would be even cheaper than that if I could be bothered to do a joint policy search, which I can't.

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That seems like a massive premium then, where do you live, Beirut?

 

---------- Post added 24-08-2017 at 15:08 ----------

 

Mines not due yet but have quickly checked and it's coming in £20 cheaper than last year (well, Feb 2017) and the wife's £6 cheaper. It would be even cheaper than that if I could be bothered to do a joint policy search, which I can't.

 

Which company ?

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Which company ?

Just a quick comparison on Confused. Cheapest (for two singes policies compared with quotes I got back in Feb) was GoSkippy for both my wife and I (currently with Admiral on a dual policy though which was cheaper than two single policies).

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Ring the company up and ask why your premium has risen by 83%. Should be interesting.

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2 cars 2 drivers, last year was £650 for the multicar policy, renewal quote a few days ago was £900, I called up to not accept their renewal price and with no changes to anything they instantly matched last years price of £650 - £250 saved for a 5 minute phone call.

 

I wonder how many people just accept their renewal prices...

 

 

The thing to remember with car insurance too is that it is ALL statistic based, unless you are in the exact same demographic with the same car and job and experience and whatnot as someones else, your price is irrelevant - its all about how much ££ your demo has cost said insurer in X period in Y type of car under Z circumstances.

Edited by bkcin

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I always shop around too. Ive never renewed with the same company two years running as Ive always found renewing more than going with someone else.

This years shopping around caused me a surprise so Ill be shopping around some more then seeing what my current insurer offers by way of a renewal quote. Then Ill just have to see If they can reduce it.

I hate the fact they have us by the proverbial then just jack up the prices as and when they choose.

Ah well, that the price of car ownership I suppose.

 

It's a common misconception. They don't. It's a highly competitive market and in reality profit margins are razor slim.

Blame insurance tax and whiplash claims (and other changes in the law) for rising prices.

 

---------- Post added 25-08-2017 at 07:40 ----------

 

Just a quick comparison on Confused. Cheapest (for two singes policies compared with quotes I got back in Feb) was GoSkippy for both my wife and I (currently with Admiral on a dual policy though which was cheaper than two single policies).

 

My admiral joint policy renewal was up by 25% this month.

I got it back down, but we had to take the wife off my car as a driver. No real hardship as in a year I've owned it she's not driven it once.

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I recently did some significant market research on car insurance(direct with insurers) for a third party - 3 of the insurers i contacted were within £5 of each other (and close to my existing insurer).

The rest of the companies were astronomically more expensive with the likes of the RAC at almost double the cost.

The most competitive (in my case) were Esure,Churchill and Hastings Direct.

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It does seem like a massive jump in price, and a lot of money.

 

Sure does. Still, it was better than my first years insurance price, £159pm for a 1.6 Megane

Its been steadily reducing each year. This has been the first year ive had this kind of surprise.

 

---------- Post added 25-08-2017 at 12:16 ----------

 

That seems like a massive premium then, where do you live, Beirut?

 

Exact same place as last year which is why inm struggling to understand it. Literally the only things that have change is I now have another years NCD and another years driving experience.

 

---------- Post added 25-08-2017 at 12:17 ----------

 

Ring the company up and ask why your premium has risen by 83%. Should be interesting.

 

I will be doing on the 9th of September. They cant quote me for renewal before then as my current insurance does not run out until 9th October.

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My experience of getting car insurance is easy to relate. DO NOT stay loyal to your insurer, always contact several other insurers and ask what they would charge for the same policy cover. DO NOT tell them who your previous insurers are just give them the cost, (minus £20 for your time and phone calls) and you will get it cheaper in my experience. It certainly works in my case as an old fogey with 40 years no claims discount.

 

Angel1.

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DO NOT stay loyal to your insurer, always contact several other insurers and ask what they would charge for the same policy cover.

Angel1.

 

That is why they keep your bank details, as other organisations do. I would sign up with one that did not save these details.

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Exact same place as last year which is why inm struggling to understand it. Literally the only things that have change is I now have another years NCD and another years driving experience.

 

Perhaps your postcode has cost the insurers a fair bit in the previous 12 months, or lots of people who drive the same car as you have cost the insurer a lot over the past 12 months, or other people in your demographic have cost them a lot over the past 12 months.

 

It's not just you that they consider when asessing risk.

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