Insurance price hike

I just received my insurance renewal, up 25% on last year, nothing unusual there but when I checked with the meerkats it was the lowest quote.  I am a bit surprised as I only had 3 years NCB last year and nw have four (I have two cars and you can only use your NCB once), so was hopeful it would actually come down.

Have premiums gone up in case you run in to an electric cars and they are more expensive to repair, or more frequently written off?  It can’t just be inflation.

Robin

The market value of even an old Jimny has increased a lot.  A few years ago, they'd be paying £5,000 for a write-off on a 12-year old example  Now it could be nearer £10,000 to buy a like-for-like replacement, which is what you're entitled to.

Insurance for all of my fleet has gone up this year a stupid amount. When questioned all I got was It is what it is. When I did some comparisons everything was coming out more expensive.

lt's the same across the board, over on the Land Rover forum the insurance increases are much worse with some owners seeing their renewal rise by over 100%

For instance
Last year l paid £300 for the Defender and the renewal quote is £730

The internet is full of people screaming about it. My friend had to sell her new Defender after getting a renewal quote of £3,000. Her previous insurance was £1,300

Notwithstanding my views on insurance motoring is a privilege for those who can afford it.

One of the reasons I sold the Tdci lightning.

I have just insured the S1 and another vehicle with a Company called Classicline insurance in Hinckley at a much more sensible rate.
They also insure bikes and offer club membership discount …
Might be worth a go.


 

Motor insurance is not a very profitable business, and it's not unusual for the industry to make a loss - I think it did in its last full financial year, having been caught out by rising parts costs and secondhand values.

To take Lambert's point above, the problem is that many people see drving as a right, so will continue to drive uninsured (and untaxed, and with no MOT).  We all ultimately fund them through the MIB levy.

The value of the car hasn’t changed from last year, my insurance company specifies an agreed value checked with a third party company just using age, mileage and reported condition, I don’t argue this with them.

When I renewed my insurance on my other car 6 months ago, it went down slightly.

My Gen3 was £205 last year on 7,000 miles with breakdown , they want £257 for the renewal with the same cover, so not too bad.

I pay£250 limited mileage 
No ncd has the policy doesn't accumulate any
Been this price for last 7 years 

Thanks, I must have had it good for the last 4 years, apart from year 1 when it was over £200 (without breakdown) it has been under £200 for the last 3 years.

If I add my wife it cuts about £25 off the price, she was always on my cars until a few years ago when she had a claim after a collision in a car park in her own car and it went against her. I will need to check her claim was more than 5 years ago.

I have always found this strange, add a second driver and the premium goes down, it was the same with my other car.

Robin

Been on the up for last few months. Lad just started driving, got a car (Twingo) a couple of months before his test. When we were looking at insurance to find cheap to insure cars, it was £800. 2 months later he passed his test and it had gone to £960. As it was late in the day, I thought I would sort the following morning - it jumped to £1060!! Had to go with it as was still cheapest quote by some margin.

If he's anywhere near 17, that would be amazingly cheap.  I'd expect more like £5,000.

My SO has just passed her test and is paying about £900/year for the Jimny, but she's a lot older than 17 (multiply it by 3 and knock a bit off!).  Adding me as a named driver brought it down a bit.

I'm in that mid-50s sweet spot where it seems to cost between £200-250/year to insure anything in my own name.