Car insurance costs rising by over £200, yet lower risk. Any advice?

Rueben_2

Hi guys, any advice here would be appreciated.

I'm doing a search for car insurance starting from July. Currently I'm paying around £550 (hard to say exactly as it's been modified a few times this year). Using Martin's tips on the motor insurance section of this site, my lowest quote is around £750! :eek:

The thing is, despite price hikes, this seems incredibly steep for the following reasons:

- I'm now keeping my car in a locked garage (not before)
- I'm doing about half the miles I was before (and not commuting any more - social only outside of peak hours)
- I have an extra years no claims (4 now ...)
- I have since turned 25 since my last quote

I have since moved house (same postcode area, quieter location) and really need to drive down costs as much as possible. The difference between comprehensive and third party F+T is next to nothing, the excesses are huge (£400+).

The only thing else that could be affecting it is the crash I had last year. But it wasn't my fault and all costs were recovered from the other side.

Any advice would be very much appreciated and thanks in advance.

thescouselander

Rueben wrote: »

I'm doing a search for car insurance starting from July. Currently I'm paying around £550 (hard to say exactly as it's been modified a few times this year).

Does this mean your car is modified? If so you might be better taking the mods off if you really want to lower your costs.

Apart from that, insurance premiums have risen generally for everyone - I don't think there's much more you could do.

TUS

Rueben wrote: »

Hi guys, any advice here would be appreciated.

I'm doing a search for car insurance starting from July. Currently I'm paying around £550 (hard to say exactly as it's been modified a few times this year). Using Martin's tips on the motor insurance section of this site, my lowest quote is around £750! :eek:

The thing is, despite price hikes, this seems incredibly steep for the following reasons:

- I'm now keeping my car in a locked garage (not before)
- I'm doing about half the miles I was before (and not commuting any more - social only outside of peak hours)
- I have an extra years no claims (4 now ...)
- I have since turned 25 since my last quote

I have since moved house (same postcode area, quieter location) and really need to drive down costs as much as possible. The difference between comprehensive and third party F+T is next to nothing, the excesses are huge (£400+).

The only thing else that could be affecting it is the crash I had last year. But it wasn't my fault and all costs were recovered from the other side.

Any advice would be very much appreciated and thanks in advance.

That'll be it. Along with universal increases in premiums due to increased claims.

Rueben_2

TUS wrote: »

That'll be it. Along with universal increases in premiums due to increased claims.

Universal increased premiums fine. But it wasn't my fault. Liability admitted by third party??? Paid out, no claims bonus kept (not protected)?

rev_henry

Rueben wrote: »

Universal increased premiums fine. But it wasn't my fault. Liability admitted by third party??? Paid out, no claims bonus kept (not protected)?

Yes, I know, its a joke but that's the way it works with many insurers now. Have you changed it to keeping on the street or drive? My insurer actually quotes less if its on the street, not sure about garage though. I presume its due to thefts of cars by breaking into houses and stealing the keys - if its on the drive its obvious which car it is - on the street not so...

s_b

try a local broker Rueben, its amazing in these days of internet savvy that ours always gets the wife the best deal

warez22

sometimes limiting the mileage too much can actually increase the premium due to you not driving enough which some Insurers dont like.

Also some insurers will increase your premium if you move to a more rural area.

Insured and spouse is normally cheaper than insured only.

Some Insurers (namely Liverpool Victoria and Highway) will actually load your premium due to a claim regardless of whether it's your fault or not.

Trying a Broker is definitely a good idea as different brokers have different agreements with certain Insurers. In my particular case the Broker I work for can discount a certain Insurer by upto 45% to that offered online, so even though you pay commission and normally a broker administration fee that can be more than compensated for by the huge reduction in the premium. Brokers are crying out for new business and it is a tough market so there are some competitive prices out there.

Hope that helps.

asbokid

TUS wrote: »

That'll be it. Along with universal increases in premiums due to increased claims.

Dunno about increased claims... Just racketeering.. Nothing new for the insurance industry.. they've been swindling us for centuries..

I got told off my mate Dave who done Histery GCSE that it was Royal & Sun Alliance what started the Great Fire of London in 1666.

The insurers of the day worked out that after a really good blaze there would be a rush to buy fire insurance policies from frightened home owners.

paddedjohn

asbokid wrote: »

Dunno about increased claims... Just racketeering.. Nothing new for the insurance industry.. they've been swindling us for centuries..

I got told off my mate Dave who done Histery GCSE that it was Royal & Sun Alliance what started the Great Fire of London in 1666.

The insurers of the day worked out that after a really good blaze there would be a rush to buy fire insurance policies from frightened home owners.

The Sun was founded in 1770 and The Alliance in 1824, Royal Insurance not till 1845 and they all merged in the 20th century. Your mate Dave is either winding you up or just very confused.

Rueben_2

A local insurance broker is possibly good idea. I'll scout some out in my local area and have a word. Research onto whether the crash has any effect on my quotes seems to be having little effect anyway (roughly £30).

I'll keep tweaking my quote though to see some of the results and effects.

Thanks guys.

iNath

Below are some possible explanations

Rueben wrote: »

- I'm now keeping my car in a locked garage (not before)
People that keep car in the garage claim more than those that keep their on the drive/street
- I'm doing about half the miles I was before (and not commuting any more - social only outside of peak hours)
Less experience driving = higher premium
- I have an extra years no claims (4 now ...)
Should help but negated by rise is premiums since last year
- I have since turned 25 since my last quote
As above

I have since moved house (same postcode area, quieter location) and really need to drive down costs as much as possible. The difference between comprehensive and third party F+T is next to nothing, the excesses are huge (£400+).

The only thing else that could be affecting it is the crash I had last year. But it wasn't my fault and all costs were recovered from the other side.
Statistics (by the insurers) show that people involved in non-fault claims are more likely to claim in the future = higher premium!