December 20th - Motor Insurance

buffman

My 18 year old daughter's motor insurance is due for renewal mid January. I understand, for example, with Direct Line a motor insurance quote is valid for 90 days. Will there be anything to be gained obtaining a quote prior to Dec 20th (the date when insurance companies no longer use gender to work out premiums) rather than waiting till January?

Quentin

There will be nothing lost (quotes are free) - you won't know if you have gained anything till you get other separate quotes later on!

lisyloo

There may be.
Some insurers will have updated their pricing models before that time, so may move to the same pricing for different gender before Decemeber.

It's always a bit of gamble whether prices will go up or down, but in this case if she gets a good quote then I'd take it.

Quentin

lisyloo wrote: »

....It's always a bit of gamble whether prices will go up or down, but in this case if she gets a good quote then I'd take it.

There is no gamble in this case as the OP is talking about getting a quote that will be honoured for 90 days!

(This he can find out if an earlier quote is cheaper than a later one, and buy the cheapest)

rs65

When I read the thread title, i thought you worked by the mayan calendar and wanted a refund.

weighty1_2

My understanding within the life insurance arena is that unless cover is on risk by the 20th December then by law they have to revert them to the gender neutral pricing. Apparently, they are not even allowed to honour them as a gesture of goodwill.

I would have thought the same may be true of the car insurance industry.

rudekid48

The vast majority of Insurers will have their gender neutral rates out well in advance of 20th December. Most of the rates will start to hit the market from mid October onwards ready for the first renewals that are due 20th December.