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How much can an insurance company put their premiums up by?
james_autos
Posts: 3 Newbie
Hello all,
I was wondering if anybody could tell me if there is any sort of limit on how much one insurance company can put their premiums up by after 12 months?
I ask because I've recently obtained some insurance quotes for a car I'm looking to buy from a well-known comparison site and between the two cheapest quotes and the next cheapest quote, there is almost £1,000 difference. I thought it seemed a bit odd and thought that perhaps if I went with one of the two cheapest quotes I'd find that my premium may go up significantly after 12 months?
I was wondering if anybody could tell me if there is any sort of limit on how much one insurance company can put their premiums up by after 12 months?
I ask because I've recently obtained some insurance quotes for a car I'm looking to buy from a well-known comparison site and between the two cheapest quotes and the next cheapest quote, there is almost £1,000 difference. I thought it seemed a bit odd and thought that perhaps if I went with one of the two cheapest quotes I'd find that my premium may go up significantly after 12 months?
0
Comments
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no limits Im afraid0
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As much as they want.
I wouldn't worry about the following year's quote until it comes to it. It doesn't pay to be loyal.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
No matter who you go with, the renewal quote will go up. Make sure you decline the auto-renew, by phone and post preferably, Shop around every year, re-quote your existing insurer online, it can be up to 30 or 40% cheaper than the price they send you as a renewal.0
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