Author Topic: Ridiculous insurance renewal costs  (Read 15033 times)

Lord Voltermore

  • Approved Member
  • *
  • Posts: 1928
  • Country: gb
  • My Honda: 2021 Jazz EX
Re: Ridiculous insurance renewal costs
« Reply #60 on: June 19, 2022, 08:47:16 AM »
i cancelled my auto renew policy with Esure after a few years, I went online and applied to same and my offer was £75 pounds less, same details etc. It was convenient to auto renew but never again,dont know why they dont value loyal customers.

That's actually illegal now - they have to offer the same terms for new and existing customers.

But no one thought it through.  Older customers tended to be the most loyal,so a large proportion was paying  over the odds by not switching.  Part of this Bonanza for the insurers may have kept  older driver premiums down.    But because  Insurers  now need to replace their profits, older drivers are now having to pay their fair share across the board.    I read somewhere premiums for older drivers have, on average, risen by 13%.    And some insurers, not quite sure how to treat them, are asking silly money, or refusing to insure them at all. 
 It cant be that older drivers have suddenly changed their driving habits and become a greater risk   (unless they are all now concentrating on working advanced computer controls rather than driving )  It must be due to the new regulations 
« Last Edit: June 19, 2022, 08:53:46 AM by Lord Voltermore »
  Trust a dog to guard your house  , but not your sandwich

ColinS

  • Approved Member
  • *
  • Posts: 899
  • Country: england
  • My Honda: 2018 HR-V EX-Navi CVT
Re: Ridiculous insurance renewal costs
« Reply #61 on: June 19, 2022, 11:03:32 AM »
The renewal on my HR-V with LV has just come through at £335.91 which is a £7.15 (2%) increase.  I'm happy with that.

Whiteshark

  • Approved Member
  • *
  • Posts: 180
  • Country: england
  • My Honda: Mk 4 jazz Hybrid EX Chrystal Red
Re: Ridiculous insurance renewal costs
« Reply #62 on: June 19, 2022, 11:11:09 PM »
I have just had my renewal from LV, two cars on the policy, my S Class Merc and my wife’s Jazz EX. The premium increase quote was plus 22%. I rang up and they said there was no specific reason other than the cars had been re rated, but did offer to reduce to plus 17%. Interestingly the Jazz stayed the same as last year, so all the increase was on the Merc. I have tried other quotes but they are all significantly higher, so I have renewed and just pleased it wasn’t more.

BigT

  • Approved Member
  • *
  • Posts: 20
  • Country: gb
  • My Honda: 2021 Jazz Ex
Re: Ridiculous insurance renewal costs
« Reply #63 on: June 28, 2022, 06:31:58 PM »
Quotemehappy.com have been reasonably priced for me (low mileage, off road parking, but in London, where prices tend to be higher).  They're pretty much all online but I've had no problems over renewal costs.  Of course, things may have changed since my last renewal last December....

This won't help. Zero no claims 66 years living in rural Somerset £320 with SAGA fully comp 21 Jazz EX. As an aside I also have a BMW motorcycle. Moving from Hull to rural Somerset reduced my premium by 40%. The insurance company after 2 months of cover gave me £140 back.....i almost fell over.

tom65

  • Registered Member
  • *
  • Posts: 4
  • Country: gb
  • Fuel economy:
  • My Honda: MK 3 Jazz ex navi CVT Jan 2020
Re: Ridiculous insurance renewal costs
« Reply #64 on: June 29, 2022, 11:00:45 AM »
My renewal from LV has just come to me and is for a Birmingham post code and has increased 30 percent from last year. I’ve had no changes other than I’m a year older. I went on to a comparison site and my LV quote is the cheapest of all quotes.

sportse

  • Topic Starter
  • Approved Member
  • *
  • Posts: 1180
  • Country: es
Re: Ridiculous insurance renewal costs
« Reply #65 on: June 29, 2022, 11:08:28 AM »
Try https://www.moneysupermarket.com/ - they saved me 50% on my insurance renewal when SAGA/Aviva both wanted £800+

ColinS

  • Approved Member
  • *
  • Posts: 899
  • Country: england
  • My Honda: 2018 HR-V EX-Navi CVT
Re: Ridiculous insurance renewal costs
« Reply #66 on: June 29, 2022, 11:47:52 AM »
My renewal from LV has just come to me and is for a Birmingham post code and has increased 30 percent from last year. I’ve had no changes other than I’m a year older. I went on to a comparison site and my LV quote is the cheapest of all quotes.
So glad I live in rural Dorset.  2% change for me from LV.

Kenneve

  • Approved Member
  • *
  • Posts: 993
  • Country: gb
  • My Honda: 2023 Jazz Advance e-HEV, Red
Re: Ridiculous insurance renewal costs
« Reply #67 on: July 05, 2022, 05:52:23 PM »
Today, I received an E-mail from Moneysupermarket.com, advertising a 'Special Offer' for car insurance, for EV and Hybrid vehicles.
I uploaded my details again for my Mk4 Jazz EX and the results were, as expected, more than I'm currently  paying.

Their best quote was from LV, at £602.39, with £600 excess,  which is about £20 more (with £400  Excess) than my existing policy with NFU. Some quotes were well over £1000 and 1 company, that I had never heard of, wanted £4810!!!
Why do these people bother ???

Now, I know many of our members are paying premiums much lower than this and the only reason for this I suspect, is my age, (85). All others details are positive. No claims, 60+ years driving, 9000miles per year, 2 other younger drivers, with good records (daughter & son-in-law).
Seems us oldies are being penalised for being old!!!!


sportse

  • Topic Starter
  • Approved Member
  • *
  • Posts: 1180
  • Country: es
Re: Ridiculous insurance renewal costs
« Reply #68 on: July 05, 2022, 06:12:18 PM »
There are some weird quotes around.

I managed to get insurance with John Lewis for £430 but could have paid £600-£1000+ from a few others and with a black box fitted!

Even more than saga and Aviva wanted.

Maybe the other companies don’t want the business, or hope people will think it’s better than other policies and just pay it?

The funny thing I found with Aviva and saga was that they class the jazz as a higher risk than polo GTI.

Kremmen

  • Approved Member
  • *
  • Posts: 4573
  • Country: england
  • Civinfo interloper
  • Fuel economy:
  • My Honda: MY22 Jazz EX
Re: Ridiculous insurance renewal costs
« Reply #69 on: July 06, 2022, 06:01:11 AM »
I'm told that insurance companies have access to lots of data about all of us.

In my case I've never claimed in 50 years + of car ownership so it's been money in the bank and yet some try and load me like I'm a new driver.
Let's be careful out there !

Saycol

  • Approved Member
  • *
  • Posts: 268
  • Country: gb
  • My Honda: MY21 Jazz Crosstar
Re: Ridiculous insurance renewal costs
« Reply #70 on: July 06, 2022, 09:08:49 AM »
How many “characteristics “ such as age, postcode, occupation, NCB history, annual miles etc do you think insurance companies evaluate when working out a quotation? I guessed about 20 but an IT friend who did some work for Direct Line said it was over 100 variables that are considered when working out a quote!

Kremmen

  • Approved Member
  • *
  • Posts: 4573
  • Country: england
  • Civinfo interloper
  • Fuel economy:
  • My Honda: MY22 Jazz EX
Re: Ridiculous insurance renewal costs
« Reply #71 on: July 06, 2022, 09:41:19 AM »
It was Direct Line who got the pip when I left a few years ago when I got an auto renewal quote with an almost 50% hike.

For about a decade I'd asked them to take me off auto renewal and just send me the quote. Fell on deaf ears every year.





Let's be careful out there !

R2D3

  • Approved Member
  • *
  • Posts: 173
  • Country: gb
  • My Honda: Jazz Crosstar in Sunlight White
Re: Ridiculous insurance renewal costs
« Reply #72 on: July 07, 2022, 03:36:47 PM »
Just queried my renewal quote from NFU Mutual which had increased 15% to around £310 (70 yr old full comp, 10+ yrs no claims and £150 excess).  Increase due in part to the rise in secondhand car values meaning larger claims and also the increase in spare parts costs doe to scarcity.

Geordielad

  • Approved Member
  • *
  • Posts: 62
  • Country: gb
  • My Honda: Jazz EX CVT 2018
Re: Ridiculous insurance renewal costs
« Reply #73 on: July 21, 2022, 09:55:52 AM »
I was dreading my renewal from LV but it’s come in a bit cheaper than the comparison sites. New price £232, last year £200 so about 16% increase.
I’m happy (ish!) to the point I’m not gonna bother ringing them to get any more discount. Just won £65 on the lottery too!  :D

Pogglefish

  • Approved Member
  • *
  • Posts: 43
  • Country: gb
  • My Honda: Honda HR-V Adv. Style in Sand Khaki
Re: Ridiculous insurance renewal costs
« Reply #74 on: July 24, 2022, 11:28:40 PM »
I’m being charged about £720 this year for the Jazz as compared to about £500 last year but then I was careless enough to pick up 3 points for speeding in November so I’m assuming that had a fair bit to do with it.

- Pogglefish

Tags:
 

anything
Back to top