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Car insurance renewal cost

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By *ools and the brain OP   Couple
over a year ago

couple, us we him her.

Has anyone else seen a massive hike in renewal price??

Ours has doubled ,

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By *AYENCouple
over a year ago

Lincolnshire

Hope you're using a comparison website AND a cash back site - will save you fortunes

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By *arksxMan
over a year ago

Leicester / London

Insurance pricing is a statically model not a an exact science.

If the policy has doubled it probably means your carrier is not interested in holding your specific type of risk. (probably their noon is oversubscribed with people like you)

Isnaurance works on having a diverse portfolio of risks. Think of them as like bookies.

They are not trying to back the winner they are trying to cut a slice out of the spread.

Tldr your insurance companies does not want you.

Look elsewhere.

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By (user no longer on site)
over a year ago

Renewed in May. It was the same as last year.

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By *UGGYBEAR2015Man
over a year ago

BRIDPORT

Renewed in June and was actually a slight reduction. That’s with the same insurer and the quote was unprompted.

I must be a good risk

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By *2000ManMan
over a year ago

Worthing

o/p shop around. Sometimes your own insurer will have a cheaper quote on comparison website searches.

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By (user no longer on site)
over a year ago


"Has anyone else seen a massive hike in renewal price??

Ours has doubled ,

"
Ours is actually £20 less than it was last year !

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By (user no longer on site)
over a year ago

Mine actually dropped 50 pounds.

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By *eoscanCouple
over a year ago

-

Mine wanted + 5% increase in price in March......pointed out others were reducing premiums cos of less travel, we agreed £80 reduction from previous.....also got benefit of dual policies when house/contents renewed which saved £400....same/better cover too....

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By *arksxMan
over a year ago

Leicester / London


"Mine wanted + 5% increase in price in March......pointed out others were reducing premiums cos of less travel, we agreed £80 reduction from previous.....also got benefit of dual policies when house/contents renewed which saved £400....same/better cover too...."

5% annual premium uplift is the industry standard.

So think if half the portfolio is like you an gets a discount.

The rest of the policies holders have to swallow a larger increase than 5%.

Insurance tax has also gone up from a flat 5% across the board to 12 and 20%. The Tories keep increasing this as a stealth car tax

There is a lot more to insurance pricing that just bashing some details into a search engine.

But a 100% increase is a sign of pay up or get lost.

I guess op there is something about your policies that doesn't sit with that insurers current economic strategy or it is over subscribed in their current portfolio.

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By *estofbothCouple
over a year ago

Cardiff

Can’t say we’ve ever looked at it since we added the last car. Probably something we should investigate, embarrassingly enough couldn’t even say how much we pay.

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By *rNaughtyNickMan
over a year ago

Birmingham

[Removed by poster at 06/07/20 11:58:33]

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By *rNaughtyNickMan
over a year ago

Birmingham

Insurance companies are a joke, they hope people just accept over priced renewals.

As suggested check a few comparison sites, phone your existing company.

Tell them your gonna leave as you've seen cheaper online and 80% of the time they will match or come close

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By (user no longer on site)
over a year ago

Hubbies went from 600 to 3500 with no accidents or claims. Guy on the phone said "if you want I can set that up for you right now" er.... No thanks... 20 minutes later another phone call.. "you won't find cheaper".. Already have at 589 so take your quote and shove it

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By (user no longer on site)
over a year ago


"Hubbies went from 600 to 3500 with no accidents or claims. Guy on the phone said "if you want I can set that up for you right now" er.... No thanks... 20 minutes later another phone call.. "you won't find cheaper".. Already have at 589 so take your quote and shove it "

Most insurance companies are licensed bandits.

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