MSE News: Record leap in car insurance costs

edited 24 January 2011 at 10:45AM in Insurance & Life Assurance
38 replies 3.9K views
Former_MSE_GuyFormer_MSE_Guy Former MSE
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I've been Money Tipped! Newshound! Chutzpah Haggler
edited 24 January 2011 at 10:45AM in Insurance & Life Assurance
This is the discussion thread for the following MSE News Story:

"Figures show typical prices soared by 33% in 2010, but you can slash costs by following our simple steps ..."
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  • 20102010 Forumite
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    Figures show typical prices soared by 33% in 2011

    Shouldn`t that be in 2010
  • michaelsmichaels Forumite
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    Generally you can get quotes a month ahead.

    My renewal was due 28 Jan - Ran a quote end Dec but did not go for it straight away - rerun early jan and cheapest co had gone up 5%. With prices rising every month and the rises applied at the start of each month it may be best to renew as early as possible?
    I think....
  • edited 22 January 2011 at 6:29PM
    rev_henryrev_henry Forumite
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    edited 22 January 2011 at 6:29PM
    I have nothing to add other than AHAHAHA I'm 19 and my insurance is WAY below all those 'averages', though I bet they're skewed by a handful of 17 year olds with very rich parents who are paying £10k or something ridiculous to insure their Range Rovers. Can't say I'd turn it down. :p I wonder what the medians would be?
  • *sigh*

    Here I am, 23 - hoping my car insurance would start steadily making its way down as I age. Apparently not.

    Also, I have noticed that companies are less and less inclined to haggle with me and make it cheaper. I generally find that now it's a case of "well if it's cheaper, go with that company then".
  • Had my driving License 4 years, have 6 years no claims (some from bikes) im 27 and premiums stayed the same this year.
    Debt free since July 2013! Woo hoo! The bank actually laughed when I said I have come in to cancel my overdraft.
  • 20102010 Forumite
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    ALL insurance companies look for any excuse to raise their premiums.
    Bad weather is always a great excuse as well as a vat increase which gives them a golden opportunity to add their little bit extra as well.
    Getting the odd speeding ticket is another.
    The buildings and contents insurance brigade will sight the recent harsh weather and how many claims they had for burst pipes etc.

    With car insurance you can`t really get away with it because you have to have it by law (although there are plenty running about without any at all).
    Basically we`re at the mercy of these money grubbers who should also go into the same category as bankers, estate agents, MP`s and "criminals".
  • edited 22 January 2011 at 4:16PM
    CrabmanCrabman Forumite
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    edited 22 January 2011 at 4:16PM
    Can we look forward to the car insurance costs tumbling when the government fines people for not renewing car insurance on time?

    Don't forget, the insurance companies say £30 is added to every premium to pay for uninsured drivers. So once the problem of uninsured drivers is legislated for, the risk will be minimised and insurance companies being the kind folks that they are, will be only too happy to pass the saving back to consumers in reduced premiums.

    :rotfl:
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  • worried_jimworried_jim
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    Did my renewal this morning after getting my renewal thru for £302, I only paid £220 last year and after a phonecall to them I've got the same cover for £211 which is even less than last year.
    Rev Henry- you are all right in my book fella.
  • luciluci Forumite
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    Got the renewal through for both cars and it has only gone up £10 each which is less than 5%. We were new customers last year and I thought it would be a lot more expensive this year and we wouldn't have the introductory bonus.
  • mikey72mikey72 Forumite
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    luci wrote: »
    Got the renewal through for both cars and it has only gone up £10 each which is less than 5%. We were new customers last year and I thought it would be a lot more expensive this year and we wouldn't have the introductory bonus.

    Who's the company?
    The bonus is a myth anyway, usually you just get stung on renewal, it normally pays to at least phone them and ask for a better price, or even better shop around.
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