Car Insurance is a joke

brendcam

Just want to grumble really.

Last year i paid £380 fully comp on a 1.3 fiesta.

Im 27, male , 7 years driving, 7 years no claims, no speeding tickets, no accidents. So surley an insurance dream.

However my average insurance quote is now around £500. This is on all price comparison websites, go compare, confused, compare meerkat, money supermarket, tesco compare.

To top it off i tried 3rd party and this bumped up to £600!!!

Its an absolute joke, i can get cashback to bring it down a bit but i cant see how they can justify these price hikes, i can see now why people dont bother with insurance :mad:

Has anyone else found this?

glider3560

All my cheapest quotes this year weren't from price comparison websites - try some companies direct.

_Andy_

Why is it a 'joke'? Are you suggesting insurance companies shouldn't make a profit?
Why should they 'justify' any rises?
Do you think Tesco should justify price rises in groceries?

dunstonh

i cant see how they can justify these price hikes

Despite recent threads on this subject clearly showing why they can justify it and why its happened.

i can see now why people dont bother with insurance

I suppose you advocate burglary now as well as the cost of living goes up. What other crimes do you think are acceptable because someone feels hard done by?

Im 27, male , 7 years driving, 7 years no claims, no speeding tickets, no accidents. So surley an insurance dream.

Hardly. You are 27 year old male. You are still too young.

balf

Here's my gripe. Quote from last year increased by 6%. £153.30 to £162.75. OK not outrageous but there did not seem to be justification for this as the car value (2009 KA) is down to £400 and the mileage to under 2000.

So I did a Gocompare and found a quote from AA £139.26 with green ticks against items such as legal assistance and personal accident. Any one with a brain would assume that that would be the price to pay. So transferred to the AA site and lo the price suddenly becomes £170 odd because all those ticks on Gocompare apparently were conveniently forgotten.

What a waste of time. Obviously the idea is to tempt you on to the insurers site and hope you either don't notice the rip off or are so p...d off you give up and accept.

There is a good reason why people hate insurers almost as much as banks.

David.

Wutang_2

balf wrote: »

What a waste of time. Obviously the idea is to tempt you on to the insurers site and hope you either don't notice the rip off or are so p...d off you give up and accept.

There is a good reason why people hate insurers almost as much as banks.

David.

You cwazy!

Sounds like you should add comparison sites to your hate list as well as possibly your own patience/ability to understand why a company would choose to make money.

balf

_Andy_ wrote: »

Why is it a 'joke'? Are you suggesting insurance companies shouldn't make a profit?
Why should they 'justify' any rises?
Do you think Tesco should justify price rises in groceries?

Come on, this guy was being asked to pay 30% plus increase in one year and it would be a good idea for him to contact them directly and ask why they have put up his quote by six times? inflation.

If Tesco put up their prices by 30% year on year they would not be number one for long.

I would be happy if insurers treated customers in the same way that the supermarkets do. Alas, I am still holding my breath

David.

dogbot

car value (2009 KA) is down to £400

Which has almost nothing to do with the price - you are mostly insuring for your potentialy unlimited liability to others. Infact not just you, but if someone nicks your car and causes injury, death or damage your insurer will probably end up paying.

A recent claim i have seen was a small car, driven by a female office worker with no claims or convictions and something like 8 or 9 years NCD and a relativly low mileage limit. She pulled from a junction without looking and has killed a motocyclist with 2 children. The claim is running up towards £1m. Her car was a total loss at something like £2,000.

mileage to under 2000.

Reducing your mileage to this kind of level is a bad thing not a good thing. You are driving much much less than most drivers limiting your experience and how used you are to different conditions. Under experience becomes more of an issue than any limitation of exposure

So I did a Gocompare and found a quote from AA £139.26 with green ticks against items such as legal assistance and personal accident. Any one with a brain would assume that that would be the price to pay. So transferred to the AA site and lo the price suddenly becomes £170 odd because all those ticks on Gocompare apparently were conveniently forgotten.

So you are suprised that price comparison websites care more about racking up sales and so their fixed price comission take than accuratly supplying customers with information....

dogbot

Come on, this guy was being asked to pay 30% plus increase in one year and it would be a good idea for him to contact them directly and ask why they have put up his quote by six times? inflation.

Insurance motor claims inflation is damaticaly higher than general inflation and has been for years now. Rate increase have not just failed to keep up with this but have often gone the other way. Insurers have been making huge underwriting losses on motor for a couple of decades and this is now unsustainable for them and their shareholders (you know, shareholders, people like you and i with pensions).

Of course the OP can follow good moneysaving advice, shop arround and try for discounts, but at the end of the day rates are hardening and they are hardening considerably more for younger drivers who are the higher risks.

_Andy_

balf wrote: »

Come on, this guy was being asked to pay 30% plus increase in one year and it would be a good idea for him to contact them directly and ask why they have put up his quote by six times? inflation.
.

Inflation isn't the only driver with insurance premiums though.

balf

dogbot wrote: »

So you are surprised that price comparison websites care more about racking up sales and so their fixed price commission take than accurately supplying customers with information....

Well yes, I am if this is regarded as normal and acceptable commercial practice.

David.