Car Insurance Renewal quote...OMG!

mikey72

flyingscotno1 wrote: »

My insurance jumped by a good £200 reduced to £100 increase when I changed insurers. Well could have beaten my previous quote with Admiral/Bell but decided to avoid them for a few reasons.

All insurers have to balance the books however and when they are paying out 115% of what they take in....

It's probably wise to avoid the cheapest insurer, if the dear ones are losing that much. They must really need the money.

By the way, todays results from Admiral.

"Admiral announces another record profit coupled with continued strong growth. Profit before tax at £266 million was 23% ahead of 2009, whilst turnover rose 47% to £1.58 billion. The Board is proposing a record final dividend for 2010 of 35.5p per share, to be paid on 10 June 2011"

"Record return on capital of 59% (2009: 54%) "

Comment from Henry Engelhardt, Group Chief Executive

"The big success was the UK motor insurance business. It's a snowball going like a freight train. Downhill. Wow! "

http://www.admiralgroup.co.uk/press/...s/02_03_11.php

jase1

bigjl wrote: »

One of the biggest issues is cars from the EU, or rather Lithuania, Poland, Latvia etc. Driving here whilst uninsured or doing the six months visit to Europe to keep 6 month clause technically in operation.

Don't seem to get many Eastern Europeans up here in Durham... sounds like no bad thing insurance-wise if what you say is true

Exemplar

OK, quick update.

Got round to phoning insurance company and was pleasant and polite but stated that this was a huge increase and I did not feel that this was justified or fair.

So guy puts me on hold for a couple of minutes, comes back and states 'As you are a valued customer we will reduce it to £20 more than last year'.

I'm not happy about this but... I think I will accept.

Thanks for all the chat about this, it's an interesting, valid, moot point for many and it's good to discuss in an open, challenging forum.

Alex

goldspanners

mine went up £50,shopping around got me nearer the price last year but still £20 dearer.

Yorkie1

It's always worth going online to your current insurer and getting a quote on the basis you're a new customer. This will probably be significantly cheaper. Then ring them up and ask them to match it. It's worked the last couple of years with D Line (more or less).