Mysterious Car Insurance Premium Hike

Kingussie_Kid

Renewed my car insurance with a well-known insurance company but they hiked my annual premium by 24 percent for no apparent reason.
I inquired abt rise of nearly a quarter but they refused to divulge any info why it’s more expensive. Despite persistent polite inquiries, left stymied with a complete mystery.
With insurer for many years, no material change in circumstances over past 12 mths, no convictions, no claims on policy within past year. Middle-aged, driving safely 30 years.
Feel I am being ripped off and not being permitted to find out why from a reputable insurer. Most unsatisfactory and frustrating and would welcome any feedback.
How can I get more info from insurer or is it better to go elsewhere?

Thank you for your attention.
Sincerely, Kingussie Kid

davetrousers

Shop around.

Vote with your feet.

dunstonh

Feel I am being ripped off

How are you being ripped off? They offered their price. You accepted it. Thats not being ripped off.

The reasons why premiums are higher this year are well documented and have been a bit of an FAQ recently. I wont repeat them given the frequent nature they have been covered recently but you can look at those posts to see for yourself. It ought to be a sticky post really.

sexpot

Hi, i could not belive how much my insurance had gone up, when i phoned they had the cheek to tell me (its because of all the claims that other drivers have made ). I cant get my head around this as ive been driving for 25 years and never made a claim. Why do we have a no claims discount ( what a load of cr::::::: ) I am so angry, what are we supposed to do?

lisyloo

Prices have gone up for reasons that have been repeated many times.
You are not entitled to an explanation of a businesses prices.

Shop around. Simples.

shortchanged_2

lisyloo wrote: »

Prices have gone up for reasons that have been repeated many times.
You are not entitled to an explanation of a businesses prices.

Shop around. Simples.

I'm the same as most on here in that my car insurance took a major hike this year, same as most wondered why, no claims, fines.

I always do shop around and in general change my insurance every year as most have introductory discounts etc.

However this year I found the quotes coming up were far less competitive.

In the end I just phoned my insurance company and told the best quote I had from the others and just said if you can match it I'll stay, otherwise I'll go. Miraculously they managed to knock a few quid off their 'best' price.

missile

Par for the course. I am surprised that a

Middle-aged, driving safely 30 years.

did not realise you must shop arround, repeat customers fund the discounts for new customers.

I doubt the sales person had any info to give you. He / she would just be looking at a computer generated renewal same as you.

lisyloo

I'm the same as most on here in that my car insurance took a major hike this year, same as most wondered why, no claims, fines.

It's nothing to do with your personal situation.
It's across the board.

Its because

a) costs have risen
b) firms making losses which are unsustainable long term
c) Having to compete to get customers but not having enough "apathetic" customers to cross subsidise
d) rise in personal injury claims
etc.

Nothing to do with your age, claims, convictions.
Everyone is facing it.
All you can do is shop around to get the best price, but you may still face an increase.

In some cases it might be worth considering changing your transport options (I went from 2 car to 1 car family last year - but I suppose we did gain a motorbike).

tommy45

They all are theiving greedy pigs at the end of the day, speculation is what they base their prices on, so they had a lot of claims last year due to the adverse weather,but that is no excuse for the level of increase, what is to blame is your i have whiplash brigade personal injury claims,most being false, also they pay out for things such as hire cars for months or years needlesly and are happy to be overcharged by the hire company the use, why because they don't give a dam really as it's us who pick up these costs, the insurance buisness needs more regulation

dunstonh

They all are theiving greedy pigs at the end of the day

There is no reason to refer to policyholders that way.

speculation is what they base their prices on, so they had a lot of claims last year due to the adverse weather,but that is no excuse for the level of increase, what is to blame is your i have whiplash brigade personal injury claims,most being false, also they pay out for things such as hire cars for months or years needlesly and are happy to be overcharged by the hire company the use, why because they don't give a dam really as it's us who pick up these costs, the insurance buisness needs more regulation

You mention some factors that have influenced premiums but not the main two.

Rather than make wild and irrational comments about he firms, why not try and find out the reasons first.

msmyth18

Shop around!