Insurance *%@+*

[Lawnmowerman]

Insurance renewal.

A couple of weeks ago I changed from a 2 year old RAV4 PHEV to a new YX Excel. Got a refund based on the remaining 6-7 weeks left on the current policy.

Renewal notice came in with about 3 1/2 weeks before due date.

Paid £292 last year for the RAV.

Quote for the YC - £566 - WHAT???

Nothing has changed - OK a year older (70 should you ask). Everything else the same. Co-op ECO insurance, been with them for 5 years and no comparison site our direct (no middleman) could improve on their renewal price over the years.

Immediately hit all the various sites and the cheapest I could get was LV at £590.

Why an increase of 90%? Any thoughts?

[Rhymes with Paris]

I think I read somewhere that insurance does go up once you reach 70.

Can't remember where unfortunately, I think it was the motoring section in the telegraph.

And some of my friends have found it does go up somewhat at that age.

Plus your change of vehicle, increases in costs of repair and replacement etc.

Still seems a hell of a jump though.

As we know insurance underwriters are on their own planet with algorithms and calculations that have no bearing on one low risk individual.

In 2018 NFU tripled my premium changing from a 2009 Colt to a 2012 CRV.

So it was bye bye NFU.

[1928KH]

Go to Gocompare on the web, fill in your details and you’ll be amazed at the results.

When I changed from a Skoda Yeti to a RAV 4 hev my insurance company wanted to increase my premium from around £400 to over £900! What!
 

I went to Gocompare and got the same cover for just over £300, and I’m over 70.

Yesterday I sorted my wife’s insurance, £266 last year up to £355 this year - I think not - again got the same cover for £244.

Give it a go, you’ve nothing to loose.

GDB

ps For the RAV the most expensive of the 96 offers I got was over £3500, and that included having to fit a gizmo in the car to monitor my driving 😂

[Max_Headroom]

4 hours ago, Lawnmowerman said:

Paid £292 last year for the RAV.

Quote for the YC - £566 - WHAT???

Mine has gone up by £200 i will not be paying that.

As for why the main blame seems to be the lack of and transporting parts etc.

[Xerapin]

4 hours ago, Lawnmowerman said:

Quote for the YC - £566 - WHAT???

15 years of no claims and those are the quotes I get for my YX - around the £550 mark. My Hyundai I30 gradually crept up from £250  (2014) to £550 (2022) last year and thats changing every year. (Mid 30s). They are just making a stealing on these things now. I was somewhat astounded there was no material difference in numbers going from the Hyundai to the Yaris given in theory the YX should be a lot safer being newer and with all the wonderful safety assists.

[exim]

Churchill 2022: £328

Churchill 2023 renewal: £552. No thanks.

Shopped around and the best was Toyota Insurance £413

[Direct line quote was around £1500]

I had made a claim during the Churchill policy where the other driver was at fault.

Did a test to see how not declaring the claim would affect price in quotes, it was negligible, premiums are just rocketing.

[MikeSh]

1 hour ago, Xerapin said:

going from the Hyundai to the Yaris given in theory the YX should be a lot safer being newer and with all the wonderful safety assists.

I'm not sure insurers care about safety much. It's more about the PBSAW and the cost of repairs, which I suspect are similar between the i30 and Yaris.

[Bper]

Funny it used to be the older you got the cheaper your insurance was but how times have changed. Spent ages on comparison sites not just with car insurance but buildings and contents as well.

It seems the insurance companies on renewal hike their prices with the expectation that you won't bother to shop around. Some years ago I went direct to a Lloyds broker and found the insurance a lot cheaper but not sure if that is still the case today.😢

[jthspace]

EV vehicles are more expensive to repair and often need specialist repair facilities and EV trained mechanics. An EV vehicle can be up to £10k more than its ICE equivalent 

This is quite an informative article

This is Money EV insurance

Don't bother with the car examples, scroll down to the "breakout" (highlighted) section.

[Stevie J]

Mine went up substantially as well this year, just last month I had to renew, and my renewal cost was £438 with AA insurance, who I have been with for several years and who have always been reasonable. One reason mine went up was that last year I didnt have the 2014 Yaris Icon I now have, but a 2006 Yaris T3, and this cost less than £200 for the year for fully comp, and i have 15 years NCB and am 51 years old with 33 years since I passed my test. But in February this year, someone drove into that 2006 Yaris, caused damage to front and rear, and I had to claim against her insurance. They paid me out £1500 for my old Yaris, and took it away to write it off on a Cat B.

One of the other reasons the AA said that my insurance had increased a lot was because I now had to tick the box saying I had had accidents claims or convictions in the last 5 years, regardless of blame. So by claiming against that driver and she was found to be at fault, and even though I didnt lose my No Claims bonus, I am now apparently more of a risk to insurers and more likely to be involved in another accident, so subsequently they are charging me more - for the next 5 years. They are absolute cowboys, and just looking for reasons to rip off the motorist.

[flash22]

NCB is capped at 9 years - change insurance companies and its back to 9 years

insurance has gone up twice this year around February by 20-30% then another the end of June by anything up to 40%

 

Car prices have risen anything in current production is a mare to get parts for and lots are on permanent backorder this increases liability, interest rates are high as well with a depressed economy

[Cyker]

That's kinda funny, so the FSA have basically done smeg all and just caused a £200-300 increase across the board. Great job  .

The whole point of their meddling was to remove new customer discounts, so renewing customers should have the same sort of quotes as new customers, but clearly this hasn't happened!

 

[Cyker]

2 hours ago, MikeSh said:

I'm not sure insurers care about safety much. It's more about the PBSAW and the cost of repairs, which I suspect are similar between the i30 and Yaris.

That reminds me, someone told me they got a lot of discount for having sensors added, so I'm going to try declaring all the sensors, AEB, lane keeping etc. on my Mk4 next renewal and see if that helps!

[Eddiefh]

Direct line - £459 went up £20 on renewal 2 weeks ago I was more than happy , Wild West former Pitt village with high crime rate 

[Rhymes with Paris]

L&V gives me a few quid off for having an aftermarket dash cam.

But the main reason I have it is because one day, hopefully never,a lemming e scooter or hoodie cyclist is going to swing off the footpath onto the road without looking.

So far I have been able to brake hard and/or swerve to avoid scooping them up, so I want proof that it's Darwinism on their part, rather than me being judged as an old geezer who can't drive is to blame.

The tactile paving at junctions with a lowered kerb, intended to help blind people, helps them do this .

Plenty of laws against doing this, but as always you can have as many laws as you like,if they are not enforced then pointless.

[Primus1]

Oh dear, my insurance is due in September, I’m about to start looking at some sites, I haven’t got my renewal notice yet from direct line, I’m starting to get worried…

[Lawnmowerman]

7 hours ago, 1928KH said:

Go to Gocompare on the web, fill in your details and you’ll be amazed at the results.

When I changed from a Skoda Yeti to a RAV 4 hev my insurance company wanted to increase my premium from around £400 to over £900! What!
 

I went to Gocompare and got the same cover for just over £300, and I’m over 70.

Yesterday I sorted my wife’s insurance, £266 last year up to £355 this year - I think not - again got the same cover for £244.

Give it a go, you’ve nothing to loose.

GDB

ps For the RAV the most expensive of the 96 offers I got was over £3500, and that included having to fit a gizmo in the car to monitor my driving 😂

Go Compare was £611 - but thanks for the heads-up.

[Lawnmowerman]

3 hours ago, exim said:

Churchill 2022: £328

Churchill 2023 renewal: £552. No thanks.

Shopped around and the best was Toyota Insurance £413

[Direct line quote was around £1500]

I had made a claim during the Churchill policy where the other driver was at fault.

Did a test to see how not declaring the claim would affect price in quotes, it was negligible, premiums are just rocketing.

Toyota was £1204 🤣

[Lawnmowerman]

26 minutes ago, Primus1 said:

Oh dear, my insurance is due in September, I’m about to start looking at some sites, I haven’t got my renewal notice yet from direct line, I’m starting to get worried…

Money Saving Expert reckons the sweet spot for best prices is to ask about 25 days before renewal - the closer to renewal the higher the price. So they say - so don't delay.

[MikeSh]

50 minutes ago, Primus1 said:

Oh dear, my insurance is due in September, I’m about to start looking at some sites, I haven’t got my renewal notice yet from direct line, I’m starting to get worried…

I'm with Direct Line and wife is Aviva, we are both in our 70s and she had a bump last year. Neither company has increased our premiums by more than expected and less in her case (we both have protected NCBs, so no direct hit there).

I suspect our low mileage comes into it ... I actually got a few ££ back from DL as I underachieved 😍

[Lawnmowerman]

1 minute ago, MikeSh said:

I'm with Direct Line and wife is Aviva, we are both in our 70s and she had a bump last year. Neither company has increased our premiums by more than expected and less in her case (we both have protected NCBs, so no direct hit there).

I suspect our low mileage comes into it ... I actually got a few ££ back from DL as I underachieved 😍

Underachieved - love it 😂

[MikeSh]

2 hours ago, Stevie J said:

I am now apparently more of a risk to insurers and more likely to be involved in another accident

I suspect there is a subtle factor they use which is something like "You managed to get your car into a situation where someone else was unable to miss it, so you might do that again".

I've no evidence for it but it's about the only thing I can think of that explains this quite common behaviour by insurers.

[Lawnmowerman]

34 minutes ago, MikeSh said:

I suspect there is a subtle factor they use which is something like "You managed to get your car into a situation where someone else was unable to miss it, so you might do that again".

I've no evidence for it but it's about the only thing I can think of that explains this quite common behaviour by insurers.

I agree Mike.

I had a claim in 2021. I was travelling south to my brother's funeral and stopped half way for a break and a coffee. As I was reversing out of the space a Zafira came round at speed and my bumper touched his rear bumper as he passed. Damage minimal but technically my fault but morally his for whizzing round the corner in a car park at speed.

I'm pretty sure 20 (10?) years ago I wouldn't have let that happen - hey ho!

[Stevie J]

It was a Vauxhall that drove into the back of me, funnily enough - there I was waiting at the back of a queue for the lights ahead, I just started to edge forwards as the car in front moved off, but then he slammed on the brakes to let a car out of a side street on his left, so it could turn right out of the side street across his path. I had to then brake, and all of a sudden a massive jolt and smash from the rear hit me, and my foot slipped off the clutch and I lurched then forward into the car in front of me, and my car stalled. We all got out of our cars and decided to move them off the main road into the side street on the left.

This was at 6.20pm on a cold wet evening in mid January this year. The woman in the Vauxhall Meriva admitted she wasnt paying attention and failed to stop before she hit me, nudging my car into the car in front.

All credit to the insurers though, they had it all sorted and paid out in less than a month after the accident. Sadly though, my poor old Yaris was deemed a Cat B and ordered to be scrapped, never to be returned to the road, which to be honest I thought was a mistake as my Yaris only received light damage to front and rear and could have been repaired- it only had 41K miles on it at the time.

Nonetheless, I have now got higher premiums for the next 5 years due to that accident.

[Eddie G]

Noticed a hike in prices even on Go Compare across the board not long ago and like Cyker pointed out so much for the new rules! 

Edited August 10, 2023 by Eddie G
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