Forum Home» Insurance & Life Assurance

MSE News: Car insurance up 50% in two years

New Post Advanced Search

MSE News: Car insurance up 50% in two years

edited 30 November -1 at 1:00AM in Insurance & Life Assurance
18 replies 3.1K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in Insurance & Life Assurance
This is the discussion thread for the following MSE News Story:

"The cost of motor insurance jumped by 15.3% in 2011, on top of the 33.2% rise reported in 2010 ..."
Read the full story:
Car insurance up 50% in two years


OfficialStamp.gif
«1

Replies

  • visidigivisidigi Forumite
    6K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    That's nothing - mine is up 128% in two years - last year my renewal was the cheapest I could get!

    This year cheaper has been found, but that is the basis for the 128% number, otherwise it would be higher.
  • Percy1983Percy1983 Forumite
    5.2K posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭✭
    I appear to have done well the last few years as my quotes have been stable, strangely my renewals have been cheapest for 3 years running.
    Have my first business premises (+4th business) 01/11/2017 :T
    Quit day job to run 3 businesses 08/02/2017 :j
    Started third business 25/06/2016 ;)
    Son born 13/09/2015:kisses2:
    Started a second business 03/08/2013 :D
    Officially the owner of my own business since 13/01/2012 :beer:
  • CompBunnyCompBunny Forumite
    1.1K posts
    No no no :( No more of this "everything is too expensive for you!" please! How about some fabulous news for us young 'uns like "David Cameron pledges 500,000 first time buyer £70k homes" or "Apprenticeships for all! Yes, even you!" or "The end of public purse persecution for the disabled!"

    That would be nice!
    GC2012: Nov £130.52/£125
    GC2011:Sept:£215Oct:£123.98Nov:£120Dec:£138Feb:£94.72
    Quit smoking 10am 17/02/11 - £4315 saved as of Nov'12

    Engaged to my best friend 08/2012:heart2:

  • PincherPincher
    6.6K posts
    ✭✭✭✭
    A few months ago, there was a big news item in China.

    A toddler was run over by a van, which reversed over it to make sure it was dead. All clearly recorded on CCTV. This is now common practice, as compensation for a dead person is much lower than life time care costs, if the driver was caught.

    So, the idea is to snap the neck of any whiplash victim, so that the payout is less than long term medical care. This reduces insurance payout, and reduces insurance premium.
  • dunstonhdunstonh Forumite
    102.8K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    Percy1983 wrote: »
    I appear to have done well the last few years as my quotes have been stable, strangely my renewals have been cheapest for 3 years running.

    Same here.

    If you are not in a high risk group then things are pretty stable.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • chanz4chanz4 Forumite
    10.3K posts
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    ✭✭✭✭✭
    Its all these people after compo for breaking a finger nail, people now think they have wiplash even when they dont.
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • mikey72mikey72 Forumite
    14.7K posts
    chanz4 wrote: »
    Its all these people after compo for breaking a finger nail, people now think they have wiplash even when they dont.

    Not the record profits, the excessive bonuses, the increasing shareholders dividends, it's just the pesky payouts to the people involved in accidents by the insurers customers?

    Don't forget the uninsured drivers as well.

    Insurance companies have a hard time.
    Makes you wonder why they still do it.
  • dunstonhdunstonh Forumite
    102.8K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    Makes you wonder why they still do it.

    Many of them dont.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • mikey72mikey72 Forumite
    14.7K posts
    dunstonh wrote: »
    Many of them dont.

    Most of them still do.
    Others have just started to sell car insurance, so it must be worthwhile moving in to the market.
  • Percy1983Percy1983 Forumite
    5.2K posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭✭
    I do wonder if many uninsured drivers are a symptom of the prices as they genuinely can't afford it but do need to drive.

    Yes you have those who would never have paid it anyway, but who many would pay it if they had a chance of affording it.
    Have my first business premises (+4th business) 01/11/2017 :T
    Quit day job to run 3 businesses 08/02/2017 :j
    Started third business 25/06/2016 ;)
    Son born 13/09/2015:kisses2:
    Started a second business 03/08/2013 :D
    Officially the owner of my own business since 13/01/2012 :beer:
This discussion has been closed.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support