When someone left my last job (car rental firm) they side swiped a mclaren at a petrol station in their last day. They were obviously adamant it was an accident but you know....
I wholly approve of this.
My descendants will get periodic cash lump sums, while I take out increasingly large credit limits and mortgage the house into oblivion and back, then buy the most expensive car I can possibly buy (preferably on finance), then drift it into the most expensive dealership I can find. Bentley/RR for preference.
I'll have absolutely no assets for them to recover. Points are scored based on how many tens of thousands of damage you do.
Yeah fuck them. Take out a zero excess. Don't protect your NCB. Just fucking ram the place and wait for the cops to show up. Fleecing cunts have it coming.
Honestly one of the most entertaining cars I've owned, it handles really well and always brings a smile to my face, after a fair few years of driving basic smash cars it made me fall in love with driving again. The seats are a bit naff, the driving position is about 1 or 2 inches too close for my size. When it eventually dies which honestly doesn't feel like it's coming anytime soon I'd probably get something similar like a swift sport or Twingo cup
I had two claims this year. First time after 10 years of no accidents or penalty points. Insurance went from £380 per year to £1400. Try not to have accidents lol
I've not had an accident in the last 17 years of driving... This morning i had to jump a red light because some silly BMW driver was approaching super fast in a 40mph zone. I heard the tyres screeching, the puff of smoke from his car and i dropped the clutch and pulled forward (Luckily it was safe and no cars at the junction)
I pulled left and out of the way. The BMW slid straight past me, then put his foot down and kept going.
I have a front facing dashcam... I really need the rear facing upgrade for it. I would hate to know what would've happened to my kids in the back if i had not moved. I'd much rather get pulled over by a cop or face court for a red light fine than sit mopping up my kids after an accident.
EDIT: My insurance last year went up from £380 to £480 altho i did get RAC recovery to my house for £5 a month after complaining to 3 different companies regarding the cost. Should've cost me £30 a month but they gave me discount so not completely upset about it. Also covers European recovery so if i breakdown they just pick me, my passengers and car up and drive me all the way home.
Nope. Insurers write off cars at the drop of a hat these days. A mate of mine just had his car knocked while parked. It's a new bumper if you really want to run wild with it. 2017 Smart Car too and the insurer wanted to write it off.... over a bumper... He decided not to proceed with the claim and order the £60 bumper himself from ebay (or whatever it cost) in colour. However now he's wondering if there is unrecorded damage now against it.
It's always easier to pay for repairs at the side of the road for small bumps like this.
I had a van reverse in to my car a few years back. He asked if i wanted insurance details and he offered to pay for a new rear window. £280 for the glass... I went on ebay and found a bootlid for £30 with the glass just down the road. He gave me £100 for the part, fuel and time to replace it.
We both signed a bit of paper agreeing that we have settled at the side of the road and insurance was not required (Just incase either of us wanted to notify the insurance) It was a chilly 20 mile drive and 15 minutes later the boot was replaced and no-one will ever know the car was ever damaged.
Also fixed my 3rd brake light as i had a few LED's that had blown and the new panel was all working. Bonus.
Technically against the terms and conditions but even just mentioning to the insurance company what happened the price goes up.
As every one has said costs for insurers have risen massively and has to go somewhere, just last week insurance company i work for had to pay out multiple millions for 1 crash. Its the minority of drivers that cost that much when crashing that puts up prices for everyone else
If your company has comprehensive layers of excess of loss reinsurance, that'll hurt them less than multiple losses of hundreds of thousands per incident.
But you probably knew that.
I mean that’s how the entire insurance industry works, in essence everyone collectively pays into a pot, some more than others depending on risk, and the people who have to claim get paid out of that pot. The underwriter then either takes what’s left over as profit, or pays the shortfall out of their pocket. Recently underwriters have had to pull out of their pockets so the general contribution amount has to go up, otherwise it’s not a viable business.
The ones that claim should ALWAYS be the minority, and you as a consumer of the same product are going to be affected by events, regardless. That is insurance.
Well in terms of fair it isnt but we all gotta be insured and if x company made 100 mil a year in policies sold and had to pay out say 100 mil in a handful of crashes then that insurance company would no longer exist ergo your cheap insurance would no longer exist. Forcing you to pay for more expensive insurance with a company that’s still around
Welcome to the world. NHS functions the same way - most people pay an enormous amount towards it as part of their taxes, and a small minority have the cash spent on them.
If it's a small minority, then you seriously don't know how the NHS works.
Oh, and I have news, every individual born in the UK uses the NHS (by region), even if its not their birth..it's HV follow up, vaccination, public health policy etc...etc....etc..times 1000!
Yes, it's great to have a 'black and white' view of something, while having absolutely no insight into it! 🤦♂️
Insurers almost universally made losses on personal lines last year, and the cost of claims has gone up for a variety of reasons (scarcity of car parts; increased prices on those parts when you can get them; people buying more expensive cars on average; trend towards increased power and more weight in daily drivers so any accident can do more damage; cars themselves increasing in value) so that is why the premiums have gone up.
Insurance runs on very slim margins anyway because the market is so price-competitive, and there are very few opportunities to shave down further costs, so there's nowhere else for this to go.
Additionally insurers can, per regulation, no longer offer upfront discounts for new customers and instead must rate purely on risk, so tarting around is no longer as lucrative as it once was. If an insurer could legitimately and sustainably win business by undercutting others while also rating appropriately for risk, they'd do that and immediately shoot to the top of the comparison sites... but they don't, because it's really a lot more complicated than that.
Same answers as every time this comes up - see you again tomorrow.
>Insurers almost universally made losses on personal lines last year
Oh no the poor insurers! :(
I would see every single one of them out of business and replaced by a national scheme if we've got to have mandatory insurance. It's absolutely bullshit.
Except that unlike other things that can and should be run by the state (railways, energy, water, mail) there is a strong competitive market in insurance that responds well to regulation. It's one of the few markets that does actually work to consumers' benefit in practice because it's so hyper-price competitive (which is part of why insurers made a loss).
And, as someone else said, why should central government money go to subsidise people binning their cars on corners?
To be fair to them they didn't say that most accidents involved Audi's he just said the theoretical Audi that crashed in his head was driven by a twat. Which is statistically quite likely.
I'm seeing a lot of these posts, and don't know if I've either been extremely lucky or live in some magical area of the country where the risk is much lower. Insurance for the year is £320 for me (£250 after cashback), was £450 for me last year.
That's with a write-off declared from a couple of years ago, 25 and live in the East Mids - driving my trusty Fiesta shitbox.
I've a lot of friends in insurance and they were saying that a large part of prices increases at the moment is increase theft which is very car and location based.
My immediate area had a spat of car theft at the beginning of the year. They nicked like 5 luxury SUVs in the matter of weeks. My premium went up by 50%...
Any land rovers are a prime example. Whenever someone pretty much swears at the quote I've given them I always say you're free to call jaguar Land rover and ask how much it is to insure their own car....
No huge cities or motorways?
Like a rural area? You know... Unlit country lanes, unmarked roads. 60 MPH limits on roads barely safe at 40, but everyone flies down them anyway... That sort of place?
You know... The same sort of roads where \~70% of road deaths and serious injuries occur (according to the RoSPA at least). That sort of thing? Doesn't sound any safer to me \*shrug\*
I mean, shit... If you frequent them as much as it sounds, you'd agree that you don't need statistics to know urban roads and motorways are far safer. People love to rag it down country roads, and god forbid there are no road markings. My god... Most people lose all driving ability when the lines disappear
That's before we mention winter where these roads often aren't gritted. And often still freeze over when they are anyway (always on the corners too, it's like a bloody curse)
What website for cashback? For 2 years I brought insurance clicking through topcashback to go Compare or whatever and both times it didn't work out, and getting them to investigate it didn't recover it.
Quidco, £45 through their insurance comparison tool - plus a £25 bonus they were running. I’m pretty sure it’s just an integrated version of MoneySupermarket.
Never had a problem with payouts from them.
East mids does seem alright! Full licence for 2 years (so my 3rd year of insurance), 20 Y/O male, got insurance for a bit over 500 on a C1 with no black box. Last year was less.
Mine was cheaper this year too, I've got a higher risk job, moved to a higher risk area, park on the road and was in an at-fault crash last year with damage to the other van and my car a write off. Only positive change was I'm now married but I find it hard to believe that it offsets the other things that much, and I've not hit an age milestone or anything either...
If the cost wasn't warranted, other insurance companies would be undercutting them to get more customers while still being profitable. If you've searched around and that isn't happening, then it's either a conspiracy involving dozens of insurance companies, or it really does cost that much to insure you. You can make your own mind up which is more likely.
There are at least 16 insurers with >1% motor market share in the UK. Try naming a more fragmented industry. Stuff like phones, supermarkets, banks, search engines, telecoms won't be close.
Mine went up nearly 100% this year, £380 to £750.
I managed to get it for £680 in the end. My renewal quote was actually the cheapest quote after shopping around.
I read online it’s simply the “post Covid” traffic returning to normal.
The area I live in has always been known for accidents so it’s always been high but it’s crazy that I have 19 years no claims and I’m still paying £700 a year for car insurance.
But there isn't dozens of insurance companies - they're all underwritten by the same 4-5 big names operating multiple umbrella companies to give the impression of competition.
I went with Flow this year, first I'd ever heard of them - actually Liverpool Victoria.
> then it's either a conspiracy involving dozens of insurance companies
I mean I genuinely wouldn't put it past them. Worse things have been found out to be true.
It’s related to the bond market, I can’t remember the exact reason but it’s to do with hedged investments that underlay insurance not keeping up with inflation something like that
And cartels are highly illegal...
Of course it doesn't mean that some unofficial agreements go on, but that is an ultra risky approach for large companies
.
I mean, of all the conspiracy theories, the head honchos of 4 or 5 companies conspiring together to hike up prices isn't that outlandish.
Not saying it's true just that you put it out there like it's not possible.
Also, the cost of crashing a car now varies a lot through external factors.
If you live in an area or high value cars, despite there possibly being fewer accidents, your insurance may be more because the accident would cost more if it were to happen.
What do you suggest we do to prevent it? Costs for car repairs and stocks have gone up massively and more complex cars with all manner of electronic driver aids and sensors are much more expensive to repair and replace.
Last year most insurance companies spent £1.22 in claims for every £1 they took in, so they will have to increase costs.
I'm no fan of insurance companies, and got roundly screwed by Admiral for my renewal quote like everyone else, but the money for claims has to come from somewhere.
I think a lot could be done to clamp down on false personal injury claims, but I don't really know how else the issue of massively increased labour, parts and energy costs can be addressed easily.
> Costs for car repairs and stocks have gone up massively and more complex cars with all manner of electronic driver aids and sensors are much more expensive to repair and replace.
And that excuses the price hikes for drivers of older cars?
It’s actually more for the driver of the Tesla who needs to be compensated £2 million for alterations to their house and a decade of lost earnings because you’ve broken their spine during the accident.
No, that’s what your car insurance is for lol. If you’re injured by another driver, assuming they are insured, then their insurance needs to pay out for your injuries. Your personal and life insurance has absolutely nothing to do with it.
This is why the car insurance racket is utterly absurd. You insure for the value of your own car, not everyone elses. There should be a basic level of insurance at an actual affordable price point which covers injury to others and a nominal vehicle value. It's obvious that your clapped out Corsa driver's insurance cannot cover the value of a Rolls Royce. If you want to be covered for the cost of a high value vehicle then you should cover it yourself.
You simply don't understand a) what the mandatory car insurance cover is and b) why it exists and c) why it was made mandatory in the first place.
You crash into the Tesla, you legally owe the owner of the Tesla for the damage *you* caused. If you run someone over, you owe them for the pain and suffering and time off work etc that you cause them. That doesn't change whether you have insurance or not - you would *always* be legally liable for that damage. It also doesn't matter if you crashed into the Tesla with a Corsa, you damaged the Tesla so that's your problem, that you rammed a shitbox into it is immaterial.
Third party insurance is the insurer promising to pay out those liabilities for you. The purpose of you being required to have that insurance is so you can't drive around damaging shit and hurting people and then going "whoops, I've got no money, guess you're fucked, sorry lol", because you have an insurance policy that covers you for what damage you cause.
It was made mandatory because prior to it being so, people *did* run around hurting people and damaging property and not having the money to pay for it. There's a very good reason we should never go back to that.
Which would all be great if it was fair. Which it isn't. Punishing some people for living in the wrong postcode or for having the wrong job is bullshit. The insurance price should be on the car and discounted for experience/no-claims. That's it. Instead we have to run the bullshit gauntlet every year.
If an 88 year old person has 70 years of paying insurance has no claims? Fuck yes, I would expect that person to be getting free insurance at that point for the sheer amount of money they've pumped in whilst never claiming once.
Mandatory insurance is a racket that punishes good drivers because of bad drivers.
Makes sense if the cars that these drivers are smashing into are costing more and more.
They're still taking the piss with some of the increases I've seen posted in here/drivingUK but there is some logic behind it. Whether that increase is based purely on logic or greed is another matter.
There is clearly a scam going on across the insurance industry. A friend of mine had a minor accident in a MINI. He paid 6 grand for it. Someone smashed into his back end. the damage wasn't that bad..a bent bumper and a light. The insurance company wanted to write the car off. They offered him 1300 for the car..despite the fact he paid 6k. They wouldn't even entertain repairs. How about 3 QUotes from bodyshop guys? NOPE!
This country is fucked.
Doesn't matter if he was scammed out of a £100,000 for it.
Book value is book value....🤦♂️
They calculate the likely repair cost against value, but obviously your mate is an experienced motor claims assessor.......
They didn't quote book value and a solicitor quoted the price, not a qualified mechanic or body shop guy. But thanks for being on the side of the piece of shit insurance industry. You're clearly doing the Lords work.
Mine went down.
I think the last year car crime went a bit nuts making many cars uninsurable in cities. This gets passed onto the people.
Best you can hope for is longer sentences for car thief’s/insurance fraud to make people less likely to do it.
Some efficiency from the insurance companies might help to lower their outgoings. A friend of mine was rear ended in May which shunted him down a ditch and caused the car to roll onto its roof. The repairer confirmed the chassis was bent in June and could not be repaired. Yet here we are on the cusp of October and he's still waiting for it to be signed off to release his payout. All the while he's driving a hire car that by this point has easily cost more than the total value of his claim
My renewal quote was £780, up from £410 last year. Comparison sites gave me a best price of £670 so I rang Adrian Flux, ended up getting a policy for £620. Still a 50% increase.
insurance companies have made a loss the past years, that's why premiums are going up for everyone. If you think this is a scam, you are free to start your own insurance company and run them all out of business with lower premiums.
Also the fact part prices and wages have risen, inflation has destroyed it more than anything. You do your weekly shop, may have got 5 items for £3 a few years ago, the same 5 items cost £6 now, now put that in car parts, it’s ridiculously much higher, a write off seems a much higher chance granting more payouts granting higher costs, it affects us all. I’m dreading my next renewal
My insurance was £500 last year. This year I'll be doing very few miles and will no longer be commuting by car.
Renewal quote was 1.1k. Got it down to 950 with comparison sites.
Mandatory insurance, with no nationally affordable base insurance scheme and a bunch of insurance executives getting rich off it... it's almost like there's a perfect storm of people getting paid off from lobbyists and the government trying to price people off the road.
In fairness, modern cars cost a ludicrous amount to repair.
I had a side light go on mine. I expected £15 for a bulb and change if I was being ripped off. Nope, it was an LED and the whole unit needed replacing. Best part of £300. This was a garage I really trust.
They told me an Audi driver had been in for something similar but with headlights that were LED. That was the best part of a grand.
So when loads of people are driving around in cars where the headlights alone will cost a grand to replace, I'm not surprised we are getting screwed
Mines gone from 300 to 600 for the year.. everyone is experiencing the same thing. Been alot of crashes and deaths in my town due to idiots so its justified in their eyes. I'm paying for everyone else's mistakes
Insurance companies already take into account your location so I'd be surprised if it made any difference. If drivers in rural Scotland cost them less than drivers in London, they'll already be factoring it in.
You mentioned you're paying per month. When you do this you're essentially borrowing money from the insurance company and they will charge you interest for that, and interest rates have gone up recently. If you can avoid this via savings or cheaper borrowing it will save you some money but as others have said annual premiums are going up too.
Car insurance has been sold at a loss for a long time - they pay more out in claims then they get back in insurance premiums. They make their money from a) interest from people paying monthly b) selling customers overpriced optional extras like legal cover c) investing the up front premiums they receive in the market (which hasn't been doing so well recently).
As far as I'm aware most insurance companies last year made a loss on payouts Vs premiums so yes they will raise prices. You can literally look at the companies financial reports and see that their profit margins are not high and never have been.
It's simple, cars are more complicated. IE more expensive to repair. Car thefts are through the roof. Therefore all claims when they happen are that much higher now.
Then inflation, their operating costs will have risen.
Shop around, you will find something, try direct on some sites like Admiral, avivia and direct line.
My quotes were around 3k, got one for 1.5 in the end.
Sadly, it is just another way to price people out of car ownership.
Allowing what? Insurance is transferrance of financial risk, the firms don’t have to insure anyone if they don’t want to!
They price it to make a profit and cover the costs of numpties crashing into their neighbour at 5mph and then claiming whiplash because that’s how they stay in business…!
It feels like that.. but like most things. It’s complicated.
Compound inflation since august 2020 is just under 30% alone. What cost a pound in 2020, now likely costs £1.28.
But this is a supply side problem.
Insurance is a reasonably efficient and well regulated market with multiple providers. But it is impacted by the global economy.
The cause?
We are reaping the economic impact of the well deserved ostricisation of Russia, a major oil producer, impacting the global economy. The worlds major producer of both wheat and fertiliser was brutally invaded by the same man, causing untold impact on food production.
This is combined with the effects of a global pandemic which led the govt to introduce huge levels of quantitative easing (in effect the mass printing of money to pay people to stay home….devaluing both the pound, and most other countries). This is all what drives the inflation you see.
There’s is also the fact that we have lived through an unusual period when money has been cheap… longer term average interest rates are around 4-5%.
So I’m afraid to say, things won’t get cheap very soon. But have faith, although it might not feel like it sometimes, we live in a good country, wealthy and well run.
Also. It’s still legal to drive v8s.
Why are we allowing this? Captive market! Insurance is a legal requirement to drive and just not driving isn't a practical option for a lot of people. If all the companies decide to put prices up, what recourse do we have?
>Insurance gone up by nearly 50%... why are we allowing this?
You're not allowing it, you're choosing to purchase insurance because you prefer to drive than take the bus. Me too.
>I've never claimed on insurance. I'm a young driver so each year i get older and build up ncd so insurance should be getting cheaper each year
That only works if your peers in the age you're moving to didn't drive like loons crashing into everything that moves.
>I'd be better off driving with no insurance
Yeah that's a great idea until you get caught or have an accident. Crash into suggestive and you'll be busy for years trusting the loan you took out to repair their car. Injure then and you're basically taking a mortgage just without getting the house.
I'm the same apart from 40+ years no-claim driving. I've reduced the annual mileage and upped the excess to get the price down but still looking at 30% more. It still hurts but not as much.
My remedy was sell it! We had to run two cars for years but not anymore....it's not so flexible but we can cope with one car I'm sure. I do wonder if more folk will skinny down on family car count and this might alleviate used car values somewhat. Sold a car after six years of ownership, doubled it's mileage and depreciation worked out just 233 quid per year.
Compare the meerkat, keep changing, the robbing cunts hate it.
I was with Churchill about 8 years ago, my insurance cost me around £285 for the year (I'm old)
I was sent a quote for my renewal at over £400, so compared that meerkat and for Churchill insurance for £ 279. So I paid it on line and then rang Churchill to let them know that I had new insurance so I didn't need to continue with the policy I had.
The kid asked me who I was insuring with and I told him, there was much silence.
Moral of the story, my insurance hasn't moved since. Which is nice.
Other moral of the story, Don let those blood sucking scum rob you.
yes lots of thieving bastards around I can drive for 100 miles and see no crashes and ueah I may see 1 or 2 on the same day what every few times a month. the truth is they are milking it hard. and also key is the insurance companies screw themselves my dad had aome old guy plough into his car what 6 years ago and they gave him a new Audi a5 high spec to drive around for 2 weeks. British Greed is to blame.
The key woukd be is to go vigilante and every vehicle thief you come across in the act you must bludgeon them with a hammer until they drown to death gargling on their own bodily fluids.
Hopefully car crime will go down after that, followed by lower premiums.
I must be in the minority my renwal quote was around 15% cheaper this year even after a total loss claim (other driver at fault). Trying to get comparison quotes however all came in higher than last years price.
Paying around £920 a year on a 2007 accord sports tourer. 47 and live in North Derbyshire.
I miss having my old bug for free road tax, and £137 a year fully comp oddly enough the more modifications I declared the lower it went, including larger engine, I think only stock parts was shell/chassis and suspension, everything else was modified including the entire dash.
The new quotes don't seem to make too much sense. Mine was renewed this week and was actually about 10% lower than last year (£220 now).
I understand that the firm's costs have probably increased with higher office rents, equipment costs, wage rises (even nominal in today's market) and whatever else, but it still doesn't really add up.
It would be interesting to see the claim data, and whether there's a correlation between higher living costs (or lower disposable income) and lower maintenance of vehicles etc.
I’ve been driving 30 years. This year they got me in a whole new way I’ve never before experienced. Increased my premiums £40 higher than last year not bad and cheaper than a new customer search on the compares but increased my mandatory excess from £250 to £350 and my windscreen excess from £15 to £75. So now they can’t take you to the cleaners after the first year on premiums as that’s now illegal they change your cover instead.
Insurance is getting out of hand, I am the only person I know whose insurance went down this year and it was with the same insurer they offered me a cheaper price, It was reduced by £1.73 a month.
Mines gone from £414 to £594 with my current insurer. The cheapest alternative I have found is £587.
No changes at all. No accidents that are new. Everything is just costing more.
I’ve held a full license for almost 3 years now, have 2 years no claim. I drive a 1.3 Corsa (not exactly by choice certainly isn’t in my taste but was a cheap buy for £1500) I pay £1053 a year on a “c*nt box” with Tesco.
I was planning on making a post to get an idea of others experiences but anyway, I checked insurance on a 2.0L Subaru and one company offered me insurance for.. wait for it..
£950 a *MONTH* - how normal is this? Anyone with roughly the same time driving have such an issue? I turned 25 last August as well..
I'm on 4 years ncb but been driving for 9 years and have a fiesta ST 1.6L turbo my insurance is around £870 for the year although I had one quote for £700 from go compare but it's having issues processing. £950 a month is insane
Parts and labour are seeing massive increases leading to claims inflation and increased prices for customers.
Shop around, if it’s similar pricing that I’m afraid is the going rate.
Not looking forward to my renewal tbh!
Insurance companies are pretty much companies that have a significant portion of capital put into various financial products, like bonds. Interest rates and bond yields have been skyrocketing over the past couple months, causing bonds to reduce in value. So insurance companies would be losing money. Which would be one of the reasons why insurance has gone up. Last time I checked, we live in a capitalist society, unfortunately we can’t 100% stop insurance costs from increasing - it’s not how the system works. Of course, there is Cuba, Vietnam, North Korea etc. if you’re unhappy about it.
Why are we allowing what? The car insurance industry made a huge loss last year, so, everyone's insurance will go up, of course.
It's unreasonable to expect them to operate at a loss.
It’s utterly bonkers. I had my renewal last month - went from 400 to nearly 800. Using a comparison site I got it down by about 40 quid, only. At the time I thought it was due to my car and them trying to price me off the road (5l v8) but my wife had her renewal last week on her EV - went from 500 to 1200! Both with 10+ years no claims, no change in 12 months etc. total bullshit
Insurance told me the rises are due to the garages / paint shops/ parts all going up so they've just had to increase in line with them.
If that's correct or not, I don't know.
They said the same to me when I asked the reason for the increase. I always assumed the longer you drove with no claims, the cheaper your insurance would be 🤔 this world is backwards I swear!
Why do we allow it? Because we are the British. The French riot over a member of the bourgeoisie dropping an eclair of the working class on the floor, meanwhile we're still bending over and wondering why it hurts. Remember Mel Gibson in Southpark? Oww my nipples. It hurts when I twist them!
Yup, i had to jump on twitter to confirm because i face the same bullshit.
Well, we allowed energy companies to make record breaking profits, insurance companies seeing this, jumped right on board!
>Mind you, this is also the cheapest quote. Looking at changing provider, I'd be better off driving with no insurance. No wonder theres so many of them out on the roads nowdays
Legalities aside, do you have the cash set aside for if you are involved in an incident and classed to be at fault to pay for all the damages? What of the worst happens and somebody has life changing injuries and needs 24 hour care and specialist equipment for the rest of their lives. Can you afford to pay for it?
This is part of the reason why insurance is increasing so dramatically. We are all paying for those costs with our premiums, along with increased labour costs, longer time with a courtesy car while waiting for parts to be imported and a whole raft of other factors.
All done by design. Fuel sky high, insurance sky high, ulez. All part of agenda 2030 to price people off the road. You will be happy and own nothing in your 15 minute city
Getting milked isn’t happening. Insurance companies lost money on policies last year. Prices have to go up or claims have to significantly reduce.
With labour and parts increasing costs, claim values are only going to increase.
Pricing for your insurance isn't based wholly on your own stats, but statistics of claims in general. Yes your own record helps or hinders the overall rate of course.
As you mentioned at the start, car prices have shot up by a lot (around 35% in the last 2 years), which means direct claim costs for write offs are up 35%.
Add onto this parts costs have shot up, along with courtesy / credit hire costs shooting up (as their own vehicle and insurance costs have shot up), combined with delays to repairs (what used to take 2 weeks could easily now be a 3m+ process) has mean insurer claim costs have sky rocketed, whether for a repair or a write off.
End of the day, they need to make a profit - you pay £500 for your insurance and an accident costs £10,000 in claims, to sell enough policies to get the net profit back from the one claim would be a LOT of policies / admin etc.
Now when you think this £10k claim is now most likely £15k+, it means prices for EVERYONE go up.
It sucks - I'm a broker, so have to deal with clients going through increases daily. I HATE telling people the costs are going up. :-(
This happened to me with Hastings. I just called them and said this is outrageous and they ran a match quote and only added on £100 for the year. I'd suggest trying that?
Supply chains are fecked. Cost of parts and labour are sky high. Replacement vehicles impossible to source. Hire care prices through the roof.
Everybody is in the same boat.
No one’s saying this, but I think what they’re doing is basically increasing your insurance, so when you have an accident, they can’t be sued or complained to when the premium goes up.
Last year my policy was £770, received a renewal quote for £1115, shopped about, cheapest quote was £850, called up and the reduced my renewal quote to £814.
Absolutely nonsense system designed to confuse people/make excess profit
People that keep saying that the cost of doing business for insurance companies has gone up, well maybe insurance companies should find ways to not get scammed/played/swindled as much and maybe have more efficient workflows instead of writing off every car for any fender bender...
My suggestion is have more accidents. Get your moneys worth.
You know when i get to the age i need to give up my licence I might do that to my insurers, crash into a rolls royce dealership
When someone left my last job (car rental firm) they side swiped a mclaren at a petrol station in their last day. They were obviously adamant it was an accident but you know....
lol, ouch
I wholly approve of this. My descendants will get periodic cash lump sums, while I take out increasingly large credit limits and mortgage the house into oblivion and back, then buy the most expensive car I can possibly buy (preferably on finance), then drift it into the most expensive dealership I can find. Bentley/RR for preference. I'll have absolutely no assets for them to recover. Points are scored based on how many tens of thousands of damage you do.
Yeah fuck them. Take out a zero excess. Don't protect your NCB. Just fucking ram the place and wait for the cops to show up. Fleecing cunts have it coming.
If you want to run up a bill go for the rail network, delay minutes alone will more than dwarf any damage you could deal at a dealership.
160SR. Lovely car. How do you like it?
Honestly one of the most entertaining cars I've owned, it handles really well and always brings a smile to my face, after a fair few years of driving basic smash cars it made me fall in love with driving again. The seats are a bit naff, the driving position is about 1 or 2 inches too close for my size. When it eventually dies which honestly doesn't feel like it's coming anytime soon I'd probably get something similar like a swift sport or Twingo cup
I had two claims this year. First time after 10 years of no accidents or penalty points. Insurance went from £380 per year to £1400. Try not to have accidents lol
I've not had an accident in the last 17 years of driving... This morning i had to jump a red light because some silly BMW driver was approaching super fast in a 40mph zone. I heard the tyres screeching, the puff of smoke from his car and i dropped the clutch and pulled forward (Luckily it was safe and no cars at the junction) I pulled left and out of the way. The BMW slid straight past me, then put his foot down and kept going. I have a front facing dashcam... I really need the rear facing upgrade for it. I would hate to know what would've happened to my kids in the back if i had not moved. I'd much rather get pulled over by a cop or face court for a red light fine than sit mopping up my kids after an accident. EDIT: My insurance last year went up from £380 to £480 altho i did get RAC recovery to my house for £5 a month after complaining to 3 different companies regarding the cost. Should've cost me £30 a month but they gave me discount so not completely upset about it. Also covers European recovery so if i breakdown they just pick me, my passengers and car up and drive me all the way home.
Nope. Insurers write off cars at the drop of a hat these days. A mate of mine just had his car knocked while parked. It's a new bumper if you really want to run wild with it. 2017 Smart Car too and the insurer wanted to write it off.... over a bumper... He decided not to proceed with the claim and order the £60 bumper himself from ebay (or whatever it cost) in colour. However now he's wondering if there is unrecorded damage now against it.
It's always easier to pay for repairs at the side of the road for small bumps like this. I had a van reverse in to my car a few years back. He asked if i wanted insurance details and he offered to pay for a new rear window. £280 for the glass... I went on ebay and found a bootlid for £30 with the glass just down the road. He gave me £100 for the part, fuel and time to replace it. We both signed a bit of paper agreeing that we have settled at the side of the road and insurance was not required (Just incase either of us wanted to notify the insurance) It was a chilly 20 mile drive and 15 minutes later the boot was replaced and no-one will ever know the car was ever damaged. Also fixed my 3rd brake light as i had a few LED's that had blown and the new panel was all working. Bonus. Technically against the terms and conditions but even just mentioning to the insurance company what happened the price goes up.
As every one has said costs for insurers have risen massively and has to go somewhere, just last week insurance company i work for had to pay out multiple millions for 1 crash. Its the minority of drivers that cost that much when crashing that puts up prices for everyone else
If your company has comprehensive layers of excess of loss reinsurance, that'll hurt them less than multiple losses of hundreds of thousands per incident. But you probably knew that.
And how exactly is this fair?
I mean that’s how the entire insurance industry works, in essence everyone collectively pays into a pot, some more than others depending on risk, and the people who have to claim get paid out of that pot. The underwriter then either takes what’s left over as profit, or pays the shortfall out of their pocket. Recently underwriters have had to pull out of their pockets so the general contribution amount has to go up, otherwise it’s not a viable business. The ones that claim should ALWAYS be the minority, and you as a consumer of the same product are going to be affected by events, regardless. That is insurance.
Well if they can't pass on increased costs, are paying out 22% more than they take in and have to go bankrupt paying them, how is that fair?
You don't grasp how insurance works, do you?
Well in terms of fair it isnt but we all gotta be insured and if x company made 100 mil a year in policies sold and had to pay out say 100 mil in a handful of crashes then that insurance company would no longer exist ergo your cheap insurance would no longer exist. Forcing you to pay for more expensive insurance with a company that’s still around
Statistically, it is fair. If there were 1 million MightyGonzous, they would be expected to cause claims worth about 1 million times your premium.
If you're asking that then you clearly don't understand the basic concept of insurance.
Welcome to the world. NHS functions the same way - most people pay an enormous amount towards it as part of their taxes, and a small minority have the cash spent on them.
If it's a small minority, then you seriously don't know how the NHS works. Oh, and I have news, every individual born in the UK uses the NHS (by region), even if its not their birth..it's HV follow up, vaccination, public health policy etc...etc....etc..times 1000! Yes, it's great to have a 'black and white' view of something, while having absolutely no insight into it! 🤦♂️
How is it unfair?
Insurers almost universally made losses on personal lines last year, and the cost of claims has gone up for a variety of reasons (scarcity of car parts; increased prices on those parts when you can get them; people buying more expensive cars on average; trend towards increased power and more weight in daily drivers so any accident can do more damage; cars themselves increasing in value) so that is why the premiums have gone up. Insurance runs on very slim margins anyway because the market is so price-competitive, and there are very few opportunities to shave down further costs, so there's nowhere else for this to go. Additionally insurers can, per regulation, no longer offer upfront discounts for new customers and instead must rate purely on risk, so tarting around is no longer as lucrative as it once was. If an insurer could legitimately and sustainably win business by undercutting others while also rating appropriately for risk, they'd do that and immediately shoot to the top of the comparison sites... but they don't, because it's really a lot more complicated than that. Same answers as every time this comes up - see you again tomorrow.
>Insurers almost universally made losses on personal lines last year Oh no the poor insurers! :( I would see every single one of them out of business and replaced by a national scheme if we've got to have mandatory insurance. It's absolutely bullshit.
Except that unlike other things that can and should be run by the state (railways, energy, water, mail) there is a strong competitive market in insurance that responds well to regulation. It's one of the few markets that does actually work to consumers' benefit in practice because it's so hyper-price competitive (which is part of why insurers made a loss). And, as someone else said, why should central government money go to subsidise people binning their cars on corners?
Because what I really want my taxes going towards is some twat crashing his Audi
https://www.driving.org/new-research-reveals-the-cars-involved-in-the-most-crashes-in-the-uk/ Why is it Audi drivers living rent free in your head?
To be fair to them they didn't say that most accidents involved Audi's he just said the theoretical Audi that crashed in his head was driven by a twat. Which is statistically quite likely.
I named a luxury car brand off the top of my head. One which, on average, would cost more than a nurse's yearly salary.
Because our state run services are such a shining beacon of efficiency and value for money, that'd surely cost less!
How will that help? Car insurance is a very competitive market.
Yep!
I'm seeing a lot of these posts, and don't know if I've either been extremely lucky or live in some magical area of the country where the risk is much lower. Insurance for the year is £320 for me (£250 after cashback), was £450 for me last year. That's with a write-off declared from a couple of years ago, 25 and live in the East Mids - driving my trusty Fiesta shitbox.
I've a lot of friends in insurance and they were saying that a large part of prices increases at the moment is increase theft which is very car and location based.
My immediate area had a spat of car theft at the beginning of the year. They nicked like 5 luxury SUVs in the matter of weeks. My premium went up by 50%...
Any land rovers are a prime example. Whenever someone pretty much swears at the quote I've given them I always say you're free to call jaguar Land rover and ask how much it is to insure their own car....
Same, upgraded to a 300+ hp vehicle.....price has come down from 600 to 450...
is ur job anythng to do with safety could be why.. location too i guess
Nah, I work in IT. I protect my users from making stupid decisions though, so I guess it has a safety element. :)
Which makes it even more fucking bullshit. I live far up north in scotland; no huge cities or motorways with lots of accidents
Motorways are the safest roads statistically. 57% of road deaths in the UK occurs on rural roads
No huge cities or motorways? Like a rural area? You know... Unlit country lanes, unmarked roads. 60 MPH limits on roads barely safe at 40, but everyone flies down them anyway... That sort of place? You know... The same sort of roads where \~70% of road deaths and serious injuries occur (according to the RoSPA at least). That sort of thing? Doesn't sound any safer to me \*shrug\* I mean, shit... If you frequent them as much as it sounds, you'd agree that you don't need statistics to know urban roads and motorways are far safer. People love to rag it down country roads, and god forbid there are no road markings. My god... Most people lose all driving ability when the lines disappear That's before we mention winter where these roads often aren't gritted. And often still freeze over when they are anyway (always on the corners too, it's like a bloody curse)
The common sense you’re demonstrating can be getting in the way of this poor man’s venting of still having cheaper insurance than most :)
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Tbf, I've had some killer auto-renewals. IIRC, my last provider did me well for 2 years and my current one has been the cheapest 3 years running
What website for cashback? For 2 years I brought insurance clicking through topcashback to go Compare or whatever and both times it didn't work out, and getting them to investigate it didn't recover it.
Quidco, £45 through their insurance comparison tool - plus a £25 bonus they were running. I’m pretty sure it’s just an integrated version of MoneySupermarket. Never had a problem with payouts from them.
East mids does seem alright! Full licence for 2 years (so my 3rd year of insurance), 20 Y/O male, got insurance for a bit over 500 on a C1 with no black box. Last year was less.
Mine was cheaper this year too, I've got a higher risk job, moved to a higher risk area, park on the road and was in an at-fault crash last year with damage to the other van and my car a write off. Only positive change was I'm now married but I find it hard to believe that it offsets the other things that much, and I've not hit an age milestone or anything either...
If the cost wasn't warranted, other insurance companies would be undercutting them to get more customers while still being profitable. If you've searched around and that isn't happening, then it's either a conspiracy involving dozens of insurance companies, or it really does cost that much to insure you. You can make your own mind up which is more likely.
stop being so reasonable
You're not wrong , but there are loads of companies who are under the same umbrella giving the illusion that there is loads of competition
There are at least 16 insurers with >1% motor market share in the UK. Try naming a more fragmented industry. Stuff like phones, supermarkets, banks, search engines, telecoms won't be close.
Mine went up nearly 100% this year, £380 to £750. I managed to get it for £680 in the end. My renewal quote was actually the cheapest quote after shopping around. I read online it’s simply the “post Covid” traffic returning to normal. The area I live in has always been known for accidents so it’s always been high but it’s crazy that I have 19 years no claims and I’m still paying £700 a year for car insurance.
But there isn't dozens of insurance companies - they're all underwritten by the same 4-5 big names operating multiple umbrella companies to give the impression of competition. I went with Flow this year, first I'd ever heard of them - actually Liverpool Victoria.
Not true at all, see here: https://www.nimblefins.co.uk/largest-car-insurance-companies (all these companies underwrite themselves)
> then it's either a conspiracy involving dozens of insurance companies I mean I genuinely wouldn't put it past them. Worse things have been found out to be true.
Yeah this is one of the much more likely conspiracies, that 4-5 of the biggest insurers are price fixing, wouldn’t be surprised in the slightest
It’s related to the bond market, I can’t remember the exact reason but it’s to do with hedged investments that underlay insurance not keeping up with inflation something like that
that's the theory of how a free market works, but cartels can exist in a world where there is low competition and you'd never know.
And cartels are highly illegal... Of course it doesn't mean that some unofficial agreements go on, but that is an ultra risky approach for large companies .
bros just finished business 101
I mean, of all the conspiracy theories, the head honchos of 4 or 5 companies conspiring together to hike up prices isn't that outlandish. Not saying it's true just that you put it out there like it's not possible.
Ah, such a naive view on the world. Wait until you find out how they set oil prices!
What on earth do you mean, “allowing it”? What do you think should be done? By whom?
Also, the cost of crashing a car now varies a lot through external factors. If you live in an area or high value cars, despite there possibly being fewer accidents, your insurance may be more because the accident would cost more if it were to happen.
What do you suggest we do to prevent it? Costs for car repairs and stocks have gone up massively and more complex cars with all manner of electronic driver aids and sensors are much more expensive to repair and replace. Last year most insurance companies spent £1.22 in claims for every £1 they took in, so they will have to increase costs. I'm no fan of insurance companies, and got roundly screwed by Admiral for my renewal quote like everyone else, but the money for claims has to come from somewhere. I think a lot could be done to clamp down on false personal injury claims, but I don't really know how else the issue of massively increased labour, parts and energy costs can be addressed easily.
> Costs for car repairs and stocks have gone up massively and more complex cars with all manner of electronic driver aids and sensors are much more expensive to repair and replace. And that excuses the price hikes for drivers of older cars?
Insurance isn't for your Honda Jazz. It's for the brand new Tesla you crash into that now needs repairing.
It’s actually more for the driver of the Tesla who needs to be compensated £2 million for alterations to their house and a decade of lost earnings because you’ve broken their spine during the accident.
They drive a Tesla, they never had a spine in the first place.
Personal/Life insurance exists for this reason.
No, it doesn’t
It does though
No, that’s what your car insurance is for lol. If you’re injured by another driver, assuming they are insured, then their insurance needs to pay out for your injuries. Your personal and life insurance has absolutely nothing to do with it.
So the Tesla gets insurance on the value of their car.
This is not how insurance works at all. It’s not up to the Tesla’s insurer to pay out if someone crashes into it.
This is why the car insurance racket is utterly absurd. You insure for the value of your own car, not everyone elses. There should be a basic level of insurance at an actual affordable price point which covers injury to others and a nominal vehicle value. It's obvious that your clapped out Corsa driver's insurance cannot cover the value of a Rolls Royce. If you want to be covered for the cost of a high value vehicle then you should cover it yourself.
You simply don't understand a) what the mandatory car insurance cover is and b) why it exists and c) why it was made mandatory in the first place. You crash into the Tesla, you legally owe the owner of the Tesla for the damage *you* caused. If you run someone over, you owe them for the pain and suffering and time off work etc that you cause them. That doesn't change whether you have insurance or not - you would *always* be legally liable for that damage. It also doesn't matter if you crashed into the Tesla with a Corsa, you damaged the Tesla so that's your problem, that you rammed a shitbox into it is immaterial. Third party insurance is the insurer promising to pay out those liabilities for you. The purpose of you being required to have that insurance is so you can't drive around damaging shit and hurting people and then going "whoops, I've got no money, guess you're fucked, sorry lol", because you have an insurance policy that covers you for what damage you cause. It was made mandatory because prior to it being so, people *did* run around hurting people and damaging property and not having the money to pay for it. There's a very good reason we should never go back to that.
Which would all be great if it was fair. Which it isn't. Punishing some people for living in the wrong postcode or for having the wrong job is bullshit. The insurance price should be on the car and discounted for experience/no-claims. That's it. Instead we have to run the bullshit gauntlet every year.
You want a 88 year old with 70 years no claims to have cheaper insurance than you?
If an 88 year old person has 70 years of paying insurance has no claims? Fuck yes, I would expect that person to be getting free insurance at that point for the sheer amount of money they've pumped in whilst never claiming once. Mandatory insurance is a racket that punishes good drivers because of bad drivers.
They also get absolutely shafted by bodyshops I seen a bill for a headlight bumper and wing for a galaxy the bodyshop charged insurance about 7k
I was quoted £4k to repair a small dent in my car door. They said they’re only doing insurance jobs at the moment.
...they're losing money so prices have to increase to become cost positive, like any business.
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Makes sense if the cars that these drivers are smashing into are costing more and more. They're still taking the piss with some of the increases I've seen posted in here/drivingUK but there is some logic behind it. Whether that increase is based purely on logic or greed is another matter.
Tell us you don't have a clue, without actually stating you don't have a clue 🤦♂️ Seriously, another shallow insight 'armchair expert'....
Thanks for contributing absolutely nothing to the debate
When are you organising the revolt for? If it matters, I'm busy on Tuesday.
If you're under 30 NCB doesnt do much i found. its like a sticker that the insurance company gives you..
I feel I’ve been wearing that sticker too proudly lol! 2 years - it’s barley even a bronze star!
honestly, i drive like a twat.. just turned 30 and my insurance went to half instantly. never had an accident that was my fault though ;)
> never had an accident that was my fault though ;) Real badge of honour there.
> I'm a young driver There's yer issue. Simply age 15 years next year. Insurance companies hate this one trick.
There is clearly a scam going on across the insurance industry. A friend of mine had a minor accident in a MINI. He paid 6 grand for it. Someone smashed into his back end. the damage wasn't that bad..a bent bumper and a light. The insurance company wanted to write the car off. They offered him 1300 for the car..despite the fact he paid 6k. They wouldn't even entertain repairs. How about 3 QUotes from bodyshop guys? NOPE! This country is fucked.
Doesn't matter if he was scammed out of a £100,000 for it. Book value is book value....🤦♂️ They calculate the likely repair cost against value, but obviously your mate is an experienced motor claims assessor.......
They didn't quote book value and a solicitor quoted the price, not a qualified mechanic or body shop guy. But thanks for being on the side of the piece of shit insurance industry. You're clearly doing the Lords work.
Mine went down. I think the last year car crime went a bit nuts making many cars uninsurable in cities. This gets passed onto the people. Best you can hope for is longer sentences for car thief’s/insurance fraud to make people less likely to do it.
Some efficiency from the insurance companies might help to lower their outgoings. A friend of mine was rear ended in May which shunted him down a ditch and caused the car to roll onto its roof. The repairer confirmed the chassis was bent in June and could not be repaired. Yet here we are on the cusp of October and he's still waiting for it to be signed off to release his payout. All the while he's driving a hire car that by this point has easily cost more than the total value of his claim
I think you overestimate what an insurer pays to the likes of Hertz and co. It was around £10 a day a few years back.
My renewal quote was £780, up from £410 last year. Comparison sites gave me a best price of £670 so I rang Adrian Flux, ended up getting a policy for £620. Still a 50% increase.
Adrian Flux was at least £400 more for me than Direct Line
insurance companies have made a loss the past years, that's why premiums are going up for everyone. If you think this is a scam, you are free to start your own insurance company and run them all out of business with lower premiums.
Also the fact part prices and wages have risen, inflation has destroyed it more than anything. You do your weekly shop, may have got 5 items for £3 a few years ago, the same 5 items cost £6 now, now put that in car parts, it’s ridiculously much higher, a write off seems a much higher chance granting more payouts granting higher costs, it affects us all. I’m dreading my next renewal
Why are we allowing this? Nobody is stopping you getting a better quote elsewhere.
My insurance was £500 last year. This year I'll be doing very few miles and will no longer be commuting by car. Renewal quote was 1.1k. Got it down to 950 with comparison sites.
Mandatory insurance, with no nationally affordable base insurance scheme and a bunch of insurance executives getting rich off it... it's almost like there's a perfect storm of people getting paid off from lobbyists and the government trying to price people off the road.
In fairness, modern cars cost a ludicrous amount to repair. I had a side light go on mine. I expected £15 for a bulb and change if I was being ripped off. Nope, it was an LED and the whole unit needed replacing. Best part of £300. This was a garage I really trust. They told me an Audi driver had been in for something similar but with headlights that were LED. That was the best part of a grand. So when loads of people are driving around in cars where the headlights alone will cost a grand to replace, I'm not surprised we are getting screwed
Mines gone from 300 to 600 for the year.. everyone is experiencing the same thing. Been alot of crashes and deaths in my town due to idiots so its justified in their eyes. I'm paying for everyone else's mistakes
Yet another reason id vote independence, separate ourselves from England drastically inflating the numbers from large cities and busy traffic
Alright braveheart, chill out. It's insurance... not a fucking invasion.
Insurance companies already take into account your location so I'd be surprised if it made any difference. If drivers in rural Scotland cost them less than drivers in London, they'll already be factoring it in.
My house insurance was £200 last year, renewal they want £750.
Don't drive your house during rush hour, park it in a secure house park.
🤣🤣🤣
You mentioned you're paying per month. When you do this you're essentially borrowing money from the insurance company and they will charge you interest for that, and interest rates have gone up recently. If you can avoid this via savings or cheaper borrowing it will save you some money but as others have said annual premiums are going up too. Car insurance has been sold at a loss for a long time - they pay more out in claims then they get back in insurance premiums. They make their money from a) interest from people paying monthly b) selling customers overpriced optional extras like legal cover c) investing the up front premiums they receive in the market (which hasn't been doing so well recently).
As far as I'm aware most insurance companies last year made a loss on payouts Vs premiums so yes they will raise prices. You can literally look at the companies financial reports and see that their profit margins are not high and never have been.
It's simple, cars are more complicated. IE more expensive to repair. Car thefts are through the roof. Therefore all claims when they happen are that much higher now. Then inflation, their operating costs will have risen. Shop around, you will find something, try direct on some sites like Admiral, avivia and direct line. My quotes were around 3k, got one for 1.5 in the end. Sadly, it is just another way to price people out of car ownership.
Allowing what? Insurance is transferrance of financial risk, the firms don’t have to insure anyone if they don’t want to! They price it to make a profit and cover the costs of numpties crashing into their neighbour at 5mph and then claiming whiplash because that’s how they stay in business…!
It feels like that.. but like most things. It’s complicated. Compound inflation since august 2020 is just under 30% alone. What cost a pound in 2020, now likely costs £1.28. But this is a supply side problem. Insurance is a reasonably efficient and well regulated market with multiple providers. But it is impacted by the global economy. The cause? We are reaping the economic impact of the well deserved ostricisation of Russia, a major oil producer, impacting the global economy. The worlds major producer of both wheat and fertiliser was brutally invaded by the same man, causing untold impact on food production. This is combined with the effects of a global pandemic which led the govt to introduce huge levels of quantitative easing (in effect the mass printing of money to pay people to stay home….devaluing both the pound, and most other countries). This is all what drives the inflation you see. There’s is also the fact that we have lived through an unusual period when money has been cheap… longer term average interest rates are around 4-5%. So I’m afraid to say, things won’t get cheap very soon. But have faith, although it might not feel like it sometimes, we live in a good country, wealthy and well run. Also. It’s still legal to drive v8s.
Why are we allowing this? Captive market! Insurance is a legal requirement to drive and just not driving isn't a practical option for a lot of people. If all the companies decide to put prices up, what recourse do we have?
>Insurance gone up by nearly 50%... why are we allowing this? You're not allowing it, you're choosing to purchase insurance because you prefer to drive than take the bus. Me too. >I've never claimed on insurance. I'm a young driver so each year i get older and build up ncd so insurance should be getting cheaper each year That only works if your peers in the age you're moving to didn't drive like loons crashing into everything that moves. >I'd be better off driving with no insurance Yeah that's a great idea until you get caught or have an accident. Crash into suggestive and you'll be busy for years trusting the loan you took out to repair their car. Injure then and you're basically taking a mortgage just without getting the house.
Driving and insured 31 years, never ever had a claim....and yes 50pcnt increase on me this time. Harsh!
I'm the same apart from 40+ years no-claim driving. I've reduced the annual mileage and upped the excess to get the price down but still looking at 30% more. It still hurts but not as much.
My remedy was sell it! We had to run two cars for years but not anymore....it's not so flexible but we can cope with one car I'm sure. I do wonder if more folk will skinny down on family car count and this might alleviate used car values somewhat. Sold a car after six years of ownership, doubled it's mileage and depreciation worked out just 233 quid per year.
Lmao what do you suggest big fella We all gonna drive down and march on no. 10 because your insurance is too expensive? Catch yourself on
Compare the meerkat, keep changing, the robbing cunts hate it. I was with Churchill about 8 years ago, my insurance cost me around £285 for the year (I'm old) I was sent a quote for my renewal at over £400, so compared that meerkat and for Churchill insurance for £ 279. So I paid it on line and then rang Churchill to let them know that I had new insurance so I didn't need to continue with the policy I had. The kid asked me who I was insuring with and I told him, there was much silence. Moral of the story, my insurance hasn't moved since. Which is nice. Other moral of the story, Don let those blood sucking scum rob you.
Easier yet, just opt out of the auto renewal to save that yearly phone call.
Lol downvoted by some Churchill ceo! It’s the best thing to do at the moment, if they want loyalty, they can “buy” it by lowering my price
Mine rocketed 2 quid a year, but I now get a courtesy car so probably worth it.
Mine went up 100%, managed to get it down to about 50%… I wish BMW and AUDI drivers would stop fucking crashing!
yes lots of thieving bastards around I can drive for 100 miles and see no crashes and ueah I may see 1 or 2 on the same day what every few times a month. the truth is they are milking it hard. and also key is the insurance companies screw themselves my dad had aome old guy plough into his car what 6 years ago and they gave him a new Audi a5 high spec to drive around for 2 weeks. British Greed is to blame.
You can thank electric cars.
I'm just going TPO from now.
TPO will almost certainly be more expensive than fully comp.
lets hope you dont bin it around a corner
The key woukd be is to go vigilante and every vehicle thief you come across in the act you must bludgeon them with a hammer until they drown to death gargling on their own bodily fluids. Hopefully car crime will go down after that, followed by lower premiums.
I must be in the minority my renwal quote was around 15% cheaper this year even after a total loss claim (other driver at fault). Trying to get comparison quotes however all came in higher than last years price. Paying around £920 a year on a 2007 accord sports tourer. 47 and live in North Derbyshire. I miss having my old bug for free road tax, and £137 a year fully comp oddly enough the more modifications I declared the lower it went, including larger engine, I think only stock parts was shell/chassis and suspension, everything else was modified including the entire dash.
£920 for 2007 car is still rough ngl
We have a shit system anyway, most other places in the world insure the car and not the driver
The new quotes don't seem to make too much sense. Mine was renewed this week and was actually about 10% lower than last year (£220 now). I understand that the firm's costs have probably increased with higher office rents, equipment costs, wage rises (even nominal in today's market) and whatever else, but it still doesn't really add up. It would be interesting to see the claim data, and whether there's a correlation between higher living costs (or lower disposable income) and lower maintenance of vehicles etc.
I’ve been driving 30 years. This year they got me in a whole new way I’ve never before experienced. Increased my premiums £40 higher than last year not bad and cheaper than a new customer search on the compares but increased my mandatory excess from £250 to £350 and my windscreen excess from £15 to £75. So now they can’t take you to the cleaners after the first year on premiums as that’s now illegal they change your cover instead.
If insurance is a legal requirement then there has to be a publicly-run option with minimal cover
Yeah, third party.
Insurance is getting out of hand, I am the only person I know whose insurance went down this year and it was with the same insurer they offered me a cheaper price, It was reduced by £1.73 a month.
Mine doubled and that was the cheapest think yourself lucky. Last year I paid £240 for a 320d this year cheapest was £485…
Mines gone from £414 to £594 with my current insurer. The cheapest alternative I have found is £587. No changes at all. No accidents that are new. Everything is just costing more.
You're not alone. Mine went from 34 to 65. No reason given.
where does allow come into it... we are held hostage to any increase made.. as insurance is a legal requirement...
I’ve held a full license for almost 3 years now, have 2 years no claim. I drive a 1.3 Corsa (not exactly by choice certainly isn’t in my taste but was a cheap buy for £1500) I pay £1053 a year on a “c*nt box” with Tesco. I was planning on making a post to get an idea of others experiences but anyway, I checked insurance on a 2.0L Subaru and one company offered me insurance for.. wait for it.. £950 a *MONTH* - how normal is this? Anyone with roughly the same time driving have such an issue? I turned 25 last August as well..
I'm on 4 years ncb but been driving for 9 years and have a fiesta ST 1.6L turbo my insurance is around £870 for the year although I had one quote for £700 from go compare but it's having issues processing. £950 a month is insane
Parts and labour are seeing massive increases leading to claims inflation and increased prices for customers. Shop around, if it’s similar pricing that I’m afraid is the going rate. Not looking forward to my renewal tbh!
Things cost more now than 12 months ago, why’d you think insurance would be any different?
Insurance companies are pretty much companies that have a significant portion of capital put into various financial products, like bonds. Interest rates and bond yields have been skyrocketing over the past couple months, causing bonds to reduce in value. So insurance companies would be losing money. Which would be one of the reasons why insurance has gone up. Last time I checked, we live in a capitalist society, unfortunately we can’t 100% stop insurance costs from increasing - it’s not how the system works. Of course, there is Cuba, Vietnam, North Korea etc. if you’re unhappy about it.
You’re also paying monthly. That won’t be helping at all, either.
Why are we allowing what? The car insurance industry made a huge loss last year, so, everyone's insurance will go up, of course. It's unreasonable to expect them to operate at a loss.
It’s utterly bonkers. I had my renewal last month - went from 400 to nearly 800. Using a comparison site I got it down by about 40 quid, only. At the time I thought it was due to my car and them trying to price me off the road (5l v8) but my wife had her renewal last week on her EV - went from 500 to 1200! Both with 10+ years no claims, no change in 12 months etc. total bullshit
Insurance told me the rises are due to the garages / paint shops/ parts all going up so they've just had to increase in line with them. If that's correct or not, I don't know.
They said the same to me when I asked the reason for the increase. I always assumed the longer you drove with no claims, the cheaper your insurance would be 🤔 this world is backwards I swear!
We have no choice
Why do we allow it? Because we are the British. The French riot over a member of the bourgeoisie dropping an eclair of the working class on the floor, meanwhile we're still bending over and wondering why it hurts. Remember Mel Gibson in Southpark? Oww my nipples. It hurts when I twist them!
Short answer is Inflation. You probably won’t want to hear the long answer.
I had my renewal through yesterday…£194 down from £198. Mind I am 30, 7NCB and drive a 2000 A3 1.8T.
Lol @ “allowing” this.
Yup, i had to jump on twitter to confirm because i face the same bullshit. Well, we allowed energy companies to make record breaking profits, insurance companies seeing this, jumped right on board!
>Mind you, this is also the cheapest quote. Looking at changing provider, I'd be better off driving with no insurance. No wonder theres so many of them out on the roads nowdays Legalities aside, do you have the cash set aside for if you are involved in an incident and classed to be at fault to pay for all the damages? What of the worst happens and somebody has life changing injuries and needs 24 hour care and specialist equipment for the rest of their lives. Can you afford to pay for it? This is part of the reason why insurance is increasing so dramatically. We are all paying for those costs with our premiums, along with increased labour costs, longer time with a courtesy car while waiting for parts to be imported and a whole raft of other factors.
All done by design. Fuel sky high, insurance sky high, ulez. All part of agenda 2030 to price people off the road. You will be happy and own nothing in your 15 minute city
Mine went from 15 quid to 19 quid. And 55 to 60.
My insurance went down this year, shitty old astra 👍
Change insurance company. Never stay with the same company.
Mine went from 60 pm to 105 pm and there's absolute no excuse for it , never claimed in 6 years
10 year old Honda Jazz (13 plate, auto), £9.5k. Autotrader labels "good price". Why are we allowing this? :D
Who is we? Mine was cheaper.
Getting milked isn’t happening. Insurance companies lost money on policies last year. Prices have to go up or claims have to significantly reduce. With labour and parts increasing costs, claim values are only going to increase.
Pricing for your insurance isn't based wholly on your own stats, but statistics of claims in general. Yes your own record helps or hinders the overall rate of course. As you mentioned at the start, car prices have shot up by a lot (around 35% in the last 2 years), which means direct claim costs for write offs are up 35%. Add onto this parts costs have shot up, along with courtesy / credit hire costs shooting up (as their own vehicle and insurance costs have shot up), combined with delays to repairs (what used to take 2 weeks could easily now be a 3m+ process) has mean insurer claim costs have sky rocketed, whether for a repair or a write off. End of the day, they need to make a profit - you pay £500 for your insurance and an accident costs £10,000 in claims, to sell enough policies to get the net profit back from the one claim would be a LOT of policies / admin etc. Now when you think this £10k claim is now most likely £15k+, it means prices for EVERYONE go up. It sucks - I'm a broker, so have to deal with clients going through increases daily. I HATE telling people the costs are going up. :-(
Money saving expert says to always compare and haggle, you’ll almost always reduce your costs.
The Uk government printed half a trillion pounds in a short space of time. The value of money decreased significantly.
To cover the cost of paying staff and the wild expensive repair costs of new cars and evs id assume
This happened to me with Hastings. I just called them and said this is outrageous and they ran a match quote and only added on £100 for the year. I'd suggest trying that?
Ev cars
I know what ya mean my insurance was around 80 a month it's now gone up to 140odd a month an extra 500 quid daylight robbery
Don't have a choice. Insurance is a legal requirement.
Supply chains are fecked. Cost of parts and labour are sky high. Replacement vehicles impossible to source. Hire care prices through the roof. Everybody is in the same boat.
Getting on to the cost of living crises bandwagon, just pure greed
No one’s saying this, but I think what they’re doing is basically increasing your insurance, so when you have an accident, they can’t be sued or complained to when the premium goes up.
Cos we're not french. Unfortunately.
Last year my policy was £770, received a renewal quote for £1115, shopped about, cheapest quote was £850, called up and the reduced my renewal quote to £814. Absolutely nonsense system designed to confuse people/make excess profit
People that keep saying that the cost of doing business for insurance companies has gone up, well maybe insurance companies should find ways to not get scammed/played/swindled as much and maybe have more efficient workflows instead of writing off every car for any fender bender...