Car insurance quotes £300 more than last year!!!!!

Singlemummy_2

I have had my car insurance renewal through and it is almost £300 more expensive than last year!!

I have done comparison quotes and it is still coming up as £250 more expensive than I paid last year. I have been paying £34 per month for the past 12 months and now the cheapest quote is coming in at £62-69 per month.

No claims, no points, the only difference is that i've moved house but only 1 mile down the road. How can it be so much MORE expensive!!!

StephenMarsh

Motor insurance is increasing at a rapid rate purly down to the fact the majority of insurers do not make a profit of any kind on the motor books (yes there are reports you can read that say insurers make a profit but not on there motor books). These price increases whilst are not pleasant they are necessary as insurers just cannot sustain the current premiums..

On you as a risk you have moved to a different postcode so therefore yes this could effect your insurance massively. I tend to draw people to a situation I had a few years ago where 2 neighbours who were so similar in risk aside from the postcode, they were next door neighbours yet lived in different postcodes and this had an impact of some £300 so yes moving 1 mile down the road could impact your insurance massively.

Try speaking to a broker you might get some answers on why which you wont get form the internet..