| Anyone know why 18:57 - Aug 8 with 2024 views | Bobsthename |
Car insurance has gone up over a £100 i have no claims,haven’t had an accident in over 20 years nothing has changed to my circumstances since i last renewed yet it’s gone up over £100 just wondered why the increase surely the cost of living is not blame ? [Post edited 8 Aug 2023 18:57]
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| Anyone know why on 19:05 - Aug 8 with 1976 views | giant_stow |
exactly the same here - up by £100 and various comparison sites said more or the less the same. |  |
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| Anyone know why on 19:15 - Aug 8 with 1948 views | nodge_blue |
I think insurers are blaming the rising cost of repairs on it. Plus they want bigger profits |  |
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| Anyone know why on 19:15 - Aug 8 with 1951 views | Daninthecampo |
Allegedly its due to the increase of replacement parts caused by raw materials and supply chain issues! | | | |
| Anyone know why on 19:25 - Aug 8 with 1924 views | PassionNotAnger |
| Anyone know why on 19:15 - Aug 8 by Daninthecampo |
Allegedly its due to the increase of replacement parts caused by raw materials and supply chain issues! |
That is part of it but overall the cost of repairs has jumped massively originally driven by heat and electric costs tripling (and paint shops are incredibly energy thirsty) and now by wage inflation. The profit margins on general car insurance policies are relatively tiny (genuinely between 3-8% commonly) as most of the bigger companies actually make their biggest profits from investment income generated on premium income pending the payments of claims (in simplistic terms) | | | |
| Anyone know why on 19:25 - Aug 8 with 1919 views | gtsb1966 |
I was quoted roughly £100 more too. Went on moneysupermarket ( I always use them) and got a quote for the same price as last year and with less excess. [Post edited 8 Aug 2023 19:27]
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| Anyone know why on 19:26 - Aug 8 with 1912 views | norfsufblue |
In my experience your renewal price is just the opening offer when buying car insurance..... comparison sites producing cheap quotes are your friend, then the negotiations start!.... this year I ended up pay fifteen quid less with a newer car , don't be frightened to walk away and do your research, apparently there is a golden time before renewal to get your quote 3 to 4 weeks I believe. |  | | |
| Anyone know why on 19:33 - Aug 8 with 1853 views | SuperBobbyPetta |
There is usually around 10-15% discount available in the renewal price offered, though the comparison sites usually have most of the discount already applied so if they are a similar price then you are probably doing as well as you can. Rates have gone up due to the cost of claims rising. Your age can also effect your premium (once you get over 60 it tends to go up as you age). | | | |
| Anyone know why on 19:36 - Aug 8 with 1835 views | ElephantintheRoom |
Because you are paying for what you don’t need until you need it.
Instance has always been something of a scam with no risk existing customers being ripped off - but alas the cost of everything is going up | |
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| Anyone know why on 19:45 - Aug 8 with 1808 views | Bobsthename |
| Anyone know why on 19:25 - Aug 8 by gtsb1966 |
I was quoted roughly £100 more too. Went on moneysupermarket ( I always use them) and got a quote for the same price as last year and with less excess. [Post edited 8 Aug 2023 19:27]
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I done that but it was still £100 or more than the renewal. | | | |
| Anyone know why on 19:46 - Aug 8 with 1806 views | Swansea_Blue |
| Anyone know why on 19:36 - Aug 8 by ElephantintheRoom |
Because you are paying for what you don’t need until you need it.
Instance has always been something of a scam with no risk existing customers being ripped off - but alas the cost of everything is going up |
It’s a complete scam. Just look at the size of the industry: an industry built on fear, and increasingly regulation.
As a general rule I never take out insurance unless required legally. The only exception being medical insurance when traveling, as treatment and repatriation costs can be massive. I’ve saved thousands (maybe even 10s of thousands) over the years, so figure I’m happy to cover an outlay if/when I need one. |  |
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| Anyone know why on 19:47 - Aug 8 with 1803 views | Bobsthename |
Thanks all just couldn’t understand the increase considering nothing has changed from last year was shocked that go compare was pretty much the same and i had nothing added. | | | |
| Anyone know why on 20:11 - Aug 8 with 1752 views | Pinewoodblue |
| Anyone know why on 19:47 - Aug 8 by Bobsthename |
Thanks all just couldn’t understand the increase considering nothing has changed from last year was shocked that go compare was pretty much the same and i had nothing added. |
Insurer seem to be looking to maintain the good profits they made when, due to Covid, we drove less and, as a consequence, had fewer accidents. |  |
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| Anyone know why on 20:21 - Aug 8 with 1705 views | StokieBlue |
Might be linked to the recent quality of your posting?
SB |  | | |
| Anyone know why on 20:37 - Aug 8 with 1667 views | blueislander |
| Anyone know why on 19:05 - Aug 8 by giant_stow |
exactly the same here - up by £100 and various comparison sites said more or the less the same. |
Because you two first posters are Norwich fans? | | | |
| Anyone know why on 21:08 - Aug 8 with 1586 views | Oldsmoker |
Mines gone up by £125 which is 36% on last year.
I have 10 days to shop around.
The blurb from the insurance companies is that claims during Covid lockdown were down but now lockdown is over they are having to pay out more.
My premiums didn't go down during lockdown, they sort of stayed the same, so I guess they're just profiteering as usual.
Another Brexit bonus. |  |
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| Anyone know why on 21:25 - Aug 8 with 1557 views | CBBlue |
| Anyone know why on 19:05 - Aug 8 by giant_stow |
exactly the same here - up by £100 and various comparison sites said more or the less the same. |
Me too. Could only knock about a tenner off by using the comparison sites and even then the 2 companies coming up with the slightly lower prices had higher excesses and one didn't include windscreen cover. | |
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| Anyone know why on 22:01 - Aug 8 with 1515 views | JohnTy |
| Anyone know why on 21:25 - Aug 8 by CBBlue |
Me too. Could only knock about a tenner off by using the comparison sites and even then the 2 companies coming up with the slightly lower prices had higher excesses and one didn't include windscreen cover. |
Mine has gone up 60%. Have not contacted them yet, but hopefully will get a reduction. If not there is just one significantly lower quote (£100 less) on the comparison site I use.
A friend today told me that she was quoted £1000 for insuring a motor home in March. She is now being quoted £2000. [Post edited 8 Aug 2023 22:02]
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| Anyone know why on 22:50 - Aug 8 with 1431 views | CBBlue |
| Anyone know why on 22:01 - Aug 8 by JohnTy |
Mine has gone up 60%. Have not contacted them yet, but hopefully will get a reduction. If not there is just one significantly lower quote (£100 less) on the comparison site I use.
A friend today told me that she was quoted £1000 for insuring a motor home in March. She is now being quoted £2000. [Post edited 8 Aug 2023 22:02]
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Mine went up by 40% this year, clean driving licence and no claims made in 25 years. You did well getting a quote £100 lower on the comparison site, I tried a couple of different ones with no luck. | |
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| Anyone know why on 23:07 - Aug 8 with 1413 views | Powrigan |
Profiteering using inflation as an excuse |  | | |
| Anyone know why on 09:01 - Aug 9 with 1232 views | BloomBlue |
You're a year older?
Wait until you get into your 80s and haven't made a claim in 40 years, then you'll be delighted if it has only gone up by only £100
Post codes also impact premiums. If there has been an increase in car thefts within your post code area that can increase premiums |  | | |
| Anyone know why on 09:05 - Aug 9 with 1220 views | Zx1988 |
I've just discovered the same.
Renewed in February at £268, and did some comparisons yesterday to ascertain how moving to a new area will impact upon my premium. The same cover at my current address has rocketed up to £369p/a in the intervening six months.
If these sorts of increases are across the industry as a whole, I hope that the staff are getting 30% pay rises as well...(!) Either way, it seems awfully close to cartel-like behaviour if all insurers are loading premiums by around the same amount. [Post edited 9 Aug 2023 9:22]
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