Don't you just love insurance companies?

[Lovemyev]

No problem they said what they could do was swop the details over and just run on when last year's policy runs out.

Completely stupid situation, but only goes to prove that they are expecting customers to "Suck In" the increase without first shopping around.
It is worth saying here, that due to C19 and at least two lockdown's, many people have covered very little mileage in there cars last year.
Remembering that when we renewed our policies ( Pre C19 ) that the quote / premium was based on the risk / usage over a 12 month time scale.
A lot of people, where at little or very low risk of an accident purely down to the lack of use or massive decease in traffic volume's.
Also, massive amounts of people NOT travelling back and too to work in the peak accident times.
Travelling back and too from work, has a big impact on the price of your policy.
Therefore, given the HUGE reduction in mileage and risks taken by drivers over the pandemic, you would either expect a refund / discount on this year renewal cost at least ?????.
Nothing of the sort, tell you what, let's increase the price of the policy anyway !!!!.
I was foolishly of the opinion that any insurance was calculated / set on a "Risk" factor basis ?.
Can anybody please explain, just how my fully unused car ( over a 12 month period ) that spent over 3 months, just sitting in my locked garage at home, is suddenly MORE at risk to the insurance company this year, because my policy renewal coast has being increased ??????.
They are just "At It" - Let's say !.

 

[MAS]

Yes - I tried to get a quote with a company on their own website and when putting the details in they said put "0" for engine CC for EVs. I did this, but couldn't get any further as it didn't recognise MG as an EV car maker!

Try MG UK as the car manufacturer

 

[Les burrows]

Hi everyone quite surprised to see this new thread today as only yesterday I found a thread on the MG5 forum on the same subject but under a title of
(what do you think of MG5 insurance cost)
Owners there giving figures and prices they have paid for there cars some of which I find very hard to understand
Last year on my ICE car my insurance was about £275 which I paid in August 2020 so when I got my EV I March 21 I had to pay an extra £71 to take me to renewal August 2021 so mid July knowing that my renewal would be coming soon I started comparing prices on the comparison sites plus with some companies who or not on the comparison sites like direct line and admiral so the best price i got was via moneysuper market for around £308 which was with LV the very same company I was already with believe it or not , now when I did this search I put the start date to be the 3rd of August as I thought it was but that I got wrong it was the actual 17th when it was due anyhow about a week later my renewal details came from LV in the post in it I found the price to be £455
Next morning rang LV to asked why it was so dear and explained to them what I had do a week or so earlier on the comparison sites and told the girl I had a quotation from MSMarket of £308 so said Ok I’ll check for you few minutes later she came back saying that the quote was different as on my renewal from them I had been quoted for legal cover and a small loan car if I had an accident which MSMarket didn’t, so l had not had the loan car on the last years policy as I wouldn’t need it so ask her to remove that which then took around £20 off the price now around £430
Then she said that the start date on the MSMarket quote was different also and said if I agreed to let her change the start date so could maybe get a better price so that’s what she did and guess what we are now down to £316 put the legal cover back on and it’s £337 happy at that as LV as already As been pointed out they have this help line for EVs if you run out of battery plus for the first year from new the car if written off in an accident they automatically replace the vehicle with out question a form of GAP cover for Free so I paid over the phone there and then now there’s a little bonus to this tale she said to me you will also be due a refund because my old policy was not due to run out until the 17th if you remember that’s nice I said and she give me £17 back on my card plus I do remember last year when I swooped from direct line to LV they DL give me a £30 refund on that last year with them as my mileage was around 50% lower than I had said it would be due to C19 so
It’s not all bad sometimes as this thread tittle reads
( Don’t you just love insurance companies )
Well this time i do
Les

 

[Gomev]

Not sure if this has been mentioned, but there was talk of legislation to stop this whole nonsense of new customer discounts - which would result in cheaper insurance for existing customers at the expense of more expensive premiums for new members - essentially ‘levelling the playing field’ and removing the incentive to move companies annually.

Found the link - from January 2022

Car and home insurers to be banned from charging renewing customers more than newbies in loyalty penalty crackdown

Car and home insurers are to be banned from charging existing customers more at renewal than they would expect to pay if they were taking out a new policy with the same firm, as part of a ‘loyalty penalty’ crackdown.

www.moneysavingexpert.com

I think this will apply to all manner of renewals.
My Sky contract just ran out and the price jumped considerably, as it does. Looked on their website for new customer deals, rang them up and they offered me that straight away, saying if I had seen a new customer deal it was open for existing customers as well.

 

[Kithmo]

Try MG UK as the car manufacturer

"MG Motors UK" worked for me

 

[notdodgy]

I had a similar experience with LV for my car recently.
Compare the Meerkat was cheaper with LV than my renewal quote from them, but got it sorted with a phone call.
Haggled a good discount on my Home insurance.

About to change energy providers.
My current one is going up by £300, but are still the cheapest compared to most.
Most of the ones with cheaper electric have more expensive gas which cancels out the savings.
Found a Gas only supplier that is the same cost as my current provider and I can save up to £200 with Octopus Go for electric.

 

[Deleted member 823]

Insurance costs are forecast to increase generally due to the new law/regulation/whatever that says existing customers should be offered the same prices as new customers. I think this comes in in 2022...