Car Insurance gone up £30 a month! For moving House

shy2011

As the title states i am moving house and so have changed my address accordingly.

I have had a confirmation letter from my insurance company stating my premiums have increasy by £30 per month. I cannot believe it.

My premiums were quite high as i had an accident the back end of 2009 but now im near on 2 years no claims i do a comparison and i can save £50 on my old premium and £80 on the new one. The problem is my renewal date isnt until August and i assume there will be charges to come out of the policy.

Any help/comments are appreciated and welcome.

bouncydog1

Clearly your insurers view your new address as more high risk than where you lived previously. There is really nothing you can do about this other than have a look at your policy wording and see what cancellation charges would be levied if you moved elsewhere.

As the policy does not renew until August and you have had c7 months cover, you will probably yourself being charged short period rates which could equate to 100% or thereabouts of the annual premium. You will have to see what the wording says about that. There may also be a further charge (admin) for cancelling the policy.

Also if you move now you will effectively lose a years bonus which you would get in August.

You will have to weigh up all the costs.

King_Nothing

I'd pay the extra rather than lose the years no claims bonus personally.

mikey72

You could get a quote with the same company, with all the same details, and see what the price is for a new policy at the new address.
If it is substantially cheaper compared to the quote you have had to move with the exsisting policy, make an official complaint, and state that unless they resolve it fairly, you will make a complaint to the FOS that they "haven't treated the customer fairly".

Ideally you would like to resolve it to pay a pro rata for the rest of the year, and a fee of up to £50 for the paperwork.

Quote

How many instalments are there left to pay?

shy2011

There are 5 installments left to pay. The policy finished the beggining of August