Insurance Renewal Shock!

[Nick528]

Arrived home tonight to find the two envelopes from insurer - renewal time. Oh Dear - lots in news about rising rates etc.

Put them on table whilst I took dogs out and had supper - putting off opening them.

Opened them after tea - prepared for the worst - shock...................

BMW 528 - Was £625 pa - new renewal premium £480 pa inc DD fee

Volvo 850 - Was £295pa - new renewal premium £295 pa inc DD fee

This is now second year that I have actually seen premia go down rather than up - I have protected maximum no claims and expect to see it rise a bit because general prices are rising, but clearly not in this little oasis in Renfrewshire. In addition I haven't written off an old Volvo on black ice for 2 years and 3 months now.

Year before last insurer did try to hit us with a rise so we priced up on comparison websites and they matched prices and since then we've had a drop in costs each year.

Perhaps at 48 I'm becoming "old" in the view of the insurers - funny I still feel like I'm 18. I think I drive better though.

Are there other sensible drivers out there seeing their policies getting cheaper?

Nick

[Snypa-D]

Lucky for you !! Mine goes up every flippin year and thats with maximum no claims,no points and had license over 21 years :(

[M1 KES]

Mines up for renewal next month.. Lost 4yrs no claims last year because of some tart claiming for wiplash, after pulling out infront of me and stopping.. (only a couple scratches) which made it £3200ish for my 328.. Next month the cheapest i can find is £1900ish..

Im only 22, and now only have 1 yr ncb...

Life sucks still paying that even though its dropped over a grand =(

[Nick528]

Sorry to hear that Snypa-D - I'm in same maximum no claims etc and 30 years driving - can't see why yours should go up - talked to colleagues who deal with insurers and they reckon that whilst NCD % is capped and effectively fixed, the insurer must be reducing the starting cost of the policy before the NCD is applied - must be reducing actual risk in the light of not claiming.

M1KES your costs are frightening - my 18 year old passed test last summer and has not driven since other than test drive on recently bought 1996 Volvo on the traders' insurance - simply cannot contemplate adding him to the insurance and your numbers are terrifying.

[Snypa-D]

Simple answer is that I live in the UKs leading area of fake claims and injury claims !! So they just sting the poo out of us at every opportunity :(

[KarenWillis]

On 4/17/2012 at 3:29 AM, Nick528 said:

Arrived home tonight to find the two envelopes from insurer - renewal time. Oh Dear - lots in news about rising rates etc.

Put them on table whilst I took dogs out and had supper - putting off opening them.

Opened them after tea - prepared for the worst - shock...................

BMW 528 - Was £625 pa - new renewal premium £480 pa inc DD fee

Volvo 850 - Was £295pa - new renewal premium £295 pa inc DD fee

This is now second year that I have actually seen premia go down rather than up - I have protected maximum no claims and expect to see it rise a bit because general prices are rising, but clearly not in this little oasis in Renfrewshire. In addition I haven't written off an old Volvo on black ice for 2 years and 3 months now.

Year before last insurer did try to hit us with a rise so we priced up on comparison websites and they matched prices and since then we've had a drop in costs each year.

Perhaps at 48 I'm becoming "old" in the view of the insurers - funny I still feel like I'm 18. I think I drive better though.

Are there other sensible drivers out there seeing their policies getting cheaper?

Nick

Perform a Car Write Off Check to know whether your car has been written off or not, it is good to know about the car's history before you end up buying it. A write off is where the car gets damaged so badly that the car is said to be written off, which is done by the insurance agency, who send a damage evaluator. Learn More

[Greydog]

Whoop Whoop great result Nick in another 30 years you will have caught me up getting older does have some benefits £340 on the X5 4.6is £248 on my wifes heavily modified Perrin Subaru 3.0 Outback

And yes I still feel 18 at times 😂😂

[X5smw]

Mine went down by £3! 😂👍🏻

[KarenWillis]

I red the above story, this is very unfair because the aged drivers have discount in the insurances and those formalities. You should give complaint to the main office of the company to prove that u are aged. And also mention that you want discounts in your insurances. Then Check that Volvo car to prove the Car Write Off Check and category of the car.👍

[Greydog]

They don't need any other proof of how aged I am just date of birth 1943 was a Vintage year 🤣

[SilverJohn]

Insurance is such a fickle market. My daughter has just had two quotes for a car she is thinking of buying. £2500 from one company and £1600 from another, both of them are well known brands of Insurer. It continues to astonish me that there is such a difference.

Moral of the story, I'm sure a lot of you will agree : Shop Around !!

[Cageeaich]

Here's a tip for those hunting cheaper insurance. Check out the discounts offered to members of some unions or employment groups. CSMA (civil service and local govt) link with LV to offer discounts of 5, 8 and sometimes 10% through their 'affinity' or 'boundless' schemes. Many can join the 'boundless' group for £28 which might pay for itself with big discount on insurance. My next car will be M5 for which I've been quoted £448. Yes, I'm ancient with full clean and advanced car license.

For those younger drivers of sporty machines, Admiral seems to be keenest atm. Not such a good policy with too many questionable clauses and very sharp practicy of jacking up renewal premium every time expecting the customer to say 'bog off', 'you're having a laugh'. The price then comes back down. For comparison, my Son is quoted £2K plus for his m140i by most outfits. Admiral around £600 but he also takes their house insurance policy.

Some people get on well with brokers claiming to offer special insurance to BMW owners and high performance machines etc. I've never yet found one to be any good at all and all wanted to charge me much much more than mainstream insurers.

Finally, some insurers give discount for passing the IAM advanced driving test or the RoSPA advanced driving test. RoSPA advanced drivers can access the affinity / boundless LV scheme as a benefit.