Insurance

[fidra]

Admiral doubled the cost of my policy this year (a week ago). Confused.com said £800 was the cheapest (more than Admiral wanted) but Moneysupermarket came up with £360 through AA. Now with AA.

 

[CarlThom]

Admiral doubled the cost of my policy this year (a week ago). Confused.com said £800 was the cheapest (more than Admiral wanted) but Moneysupermarket came up with £360 through AA. Now with AA.

Read recently that because of the risk of fires in EVs and need to isolate them in recovery the premiums are going up. Speculation in USA that EVs may become uninsurable due to damage to battery packs and cost of replacement results in write off of hardly damaged but nearly new vehicles ??

 

[monzy]

What gets me if you have an accident and it’s not your fault and you get paid out. You’re insurance company then puts your insurance up and that stays on your insurance for 5 years and you have to declare that,and if go and get a cheaper insurance quotes and you tell them about your accident you’re insurance goes up

 

[weblinkuk]

Hi there guys and gals. I just had my insurance renewal through, and they want £560 to insure my car this is £200 more than last year, seems a bit excessive any ideas where I can get a reasonable quote. Dave.

LV £176 last year this year £260

 

[Artful]

If you look at the amount of MG4 owners bashing their cars or having them bashed into no wonder the insurance is gone up.

 

[JustAnotherMidlifeCrisis]

All car insurance is up. It isn't MG4 drivers causing it.

 

[siteguru]

If you look at the amount of MG4 owners bashing their cars or having them bashed into no wonder the insurance is gone up.

Where have you seen that? Is it statistically more than any other brand/model?

 

[Freeagain21]

I’m being quoted around £750 for XPower insurance by Meerkat. That’s having lived overseas for many years and therefore having no UK driving record to speak of.

We paid £1050 for ours! With 2 drivers over 50, no points on our licences, 12 years no claims, garaged overnight, private work car park during the day, and that was via a comparison site. BUT we live in a Bradford post code. Ford Fiesta thefts are off the scale around here!

 

[Kevin Smith]

There was a piece on radio 4 today about car insurance. They said all the major motor insurers lost money last year and a significant number pulled out. As a result the supply / demand balance for the market is altered as well as insurers reckoning on all the increased repair costs and claims experience that others have mentioned. So there was talk of an average 50% increase and we're all going to pay the price. One canny caller asked how to reduce costs said 'don't crash'. Coupled with accepting a high excess this could save you money.

 

[pd2]

Hastings renewal came through yesterday, was £424.19 last year, now wanting £710.17 lol

One quick meerkat and down to £615.98 with the AA.
I'm sure after I spend a bit more time later it will be cheaper again, just not cheaper than last year.

 

[Kithmo]

What gets me if you have an accident and it’s not your fault and you get paid out. You’re insurance company then puts your insurance up and that stays on your insurance for 5 years and you have to declare that,and if go and get a cheaper insurance quotes and you tell them about your accident you’re insurance goes up

Not quite in my experience. A no fault accident only put SWMBO's premium up for one year.
On comparison sites they ask the question of whose fault it is and the premium applied takes that into consideration.

 

[Tig170]

Hastings renewal came through yesterday, was £424.19 last year, now wanting £710.17 lol

One quick meerkat and down to £615.98 with the AA.
I'm sure after I spend a bit more time later it will be cheaper again, just not cheaper than last year.

The best I could get this year was LV Multi Cover direct via quidco (which was the same insurer last year, via SAGA) - strangely although its marketed as a combined home & car policy, I only needed the car part as had just renewed the home policy (which was allowed), so around £400 (with the cashback) wasn't too bad, in the circumstances I guess - but it was hard work trying to get it down to a realistic figure.

 

[JustAnotherMidlifeCrisis]

The FT had a piece on this yesterday in the Lex column. Read online and there are some nice graphs. Main point is that EV insurance has rocketed.

 

[jonginn]

Mine was £550 when I bought the Trophy in June, for comparison.

 

[ozzrahog]

My Formentor was £374 for the year when I renewed in August.
Set up the insurance for my trophy LR that I'm picking this week and it's only added £48 to the cost, not complaining at that

 

[kimptoc]

I was with Admiral last year £398.61
Renewal is £759.16
The best alternative is via Snoop App/Moneysupermarket £627.41
Over 50, less than 6k miles per year. Social and commuting. SE London...

 

[mj224]

I insure using Saga services.

£278 last year, £520 this year...

 

[kimptoc]

I insure using Saga services.

£278 last year, £520 this year...

They just quoted me £1249 - ouch.

 

[tsedge]

Wired article on some of the factors behind high EV insurance premiums:

The Real Reason EV Repairs Are So Expensive

Insurers are demanding perfectly good EVs be scrapped, or hiking repair bills from $1,000 to $15,000 for seemingly no good reason. There’s a solution, and it’s in the hands of car companies.

www.wired.co.uk

 

[Bricktop X PWR]

Interesting read.
It can only get better..........?