Car Insurance getting too expensive every year

[Scout117]

Last year my car insurance was £950 got a renewal quote for £1720 😮 

That is just crazy the amount the car insurance is going up every year

I manage to get it from another provider for £1120 but the prices are going crazy.

Few years back It always used to go down for me and with the same insurance company where I never needed to change but now every year its up up up

This all with 6 Years NCD

[Cyker]

We've all been finding that sadly; Literally doubling from one year to the next. All you can do is keep searching for a more reasonable quote...

[FROSTYBALLS]

Topic moved to Insurance Discussions.

[AndrueC]

My AA renewal came in at £480 up from £330 the year before without anything changing. They offered a discount (with little argument) taking it down to £370 but then I got a quote from Aviva for £302.

So, yes, some prices have gone up but if you shop around it's still possible to get a reduction. It does make you wonder though how there can be such a disparity and why you should have to shop around in the first place.

[Bper]

Can only agree with the other comments, insurance is going up every year and this is due to a number of factors. The cost of repairs for one has become more expensive with newer cars and vehicle parts so insurance companies are reflecting this in higher premiums to reflect this.

 

[DAN@ADRIAN FLUX]

Hi.

If anyone needs any help with insurance at all then please feel free to drop me a line.

Regards,

Dan.

[GBgraham]

Here is a big reason for our insurance costs rising so,    "While premiums for people aged 50 and above jumped by 273pc over the period, those for under-25s rose by just 134pc, Consumer Intelligence says."

This is when inflation over the last decade is around the 35% mark so the insurance companies are really having our pants down along with all the other Gobalistic Conglomerate's😒 Happy Days

[Trewithy]

Just had my renewal quote from LV, £564.  Was £382 last year. 

I think I will get some quotes from a price comparison site.

[Haliotis]

The truth is that we are all being ripped off, year on year.  We know it and the insurance companies know it.  What annoys me is that the motoring press and other motoring organisations also know it, but why are they not publicly challenging the insurance companies - both to embarrass them and to bad press them into changing their ways?  

[FROSTYBALLS]

Talking to an elderly neighbour today, said he is giving up driving and passing on his 11 reg Ford Ka to his granddaughter next month due to the insurance cost. Paid £1,000 last year - renewal next month £2,000.

[Cyker]

That's insane! I feel there needs to be a cap/upper limit or justification for hikes like that as it just seems very unfairly prejudicial.

Then again maybe they just weren't shopping around enough...?

[Corolly Poly]

Some of these prices are mad.  My Mum is 87 and although only a Peugeot 107 still pays less than £400 a year.

[ThomasL]

Do you remember the tables that used to be published with each car, model, year and the insurance group? Where did they go?

For that matter do you also remember the glass's used car price guide sold at all newsagents?

It all seems to be kept top secret now by the industry. Information asymmetry - the less the consumer knows, the more you can rip them off!

And price discrimination i.e. charge as much as you think you'll get away with cos most folks won't shop around.

[FROSTYBALLS]

16 minutes ago, ThomasL said:

Do you remember the tables that used to be published with each car, model, year and the insurance group? Where did they go?

Insurance groups are advisory - insurance companies can use the advisories or determine their own groups.

[Cyker]

I find the insurance group has a negligible effect; Postcode is by far the biggest factor.

Most of that info can be found on websites like Parkers and HonestJohn these days anyway...

 

[ThomasL]

12 hours ago, Cyker said:

Most of that info can be found on websites like Parkers and HonestJohn

Sure, but I much preferred pouring over the whole table instead of searching each car separately whilst being bombarded by ads 😬

I would love if someone like What Car published the full insurance group table!