car insurance increased can i do anything????

thewinkshow

hi there.

im currently paying £989 per annum for my car insurance with 1st quote.
my insurance is up on the 26th of this month.

they sent me my renewal letter so i gave them a ring and mi insurance renewal quote is £2200 per annum thats more than double what im currently paying,how can they justify this?
i was 21 when i first insured it with 2 years no claims the car is a MG TF convertable.
ive not had any accidents or claims or anything,im now a year older with 3 years no claims,the car is worth £1000 less,so you would imagine that my quote would be either the same or less not more than double.

ive spoke to a manager who says its a mystery and cant offer any explaination.i know its a sports car and im young but they are a specialist insurer for these types of people.

i bought the car under the understanding i could get insurance for this amountmi cant afford to pay this new price at all,so ive now got a car i cant afford.is there anything i can do?

should i go to the insurance ombudsman?

any adice appreciated

bonvonnie

just shop around, theirs no point being loyal to a company

The_Economist

Have you tried all the online comparison sites? Have you read martins thread on getting cheaper car insurance.

Labman_2

thewinkshow wrote: »

hi there.

im currently paying £989 per annum for my car insurance with 1st quote.
my insurance is up on the 26th of this month.

they sent me my renewal letter so i gave them a ring and mi insurance renewal quote is £2200 per annum thats more than double what im currently paying,how can they justify this?
i was 21 when i first insured it with 2 years no claims the car is a MG TF convertable.
ive not had any accidents or claims or anything,im now a year older with 3 years no claims,the car is worth £1000 less,so you would imagine that my quote would be either the same or less not more than double.

ive spoke to a manager who says its a mystery and cant offer any explaination.i know its a sports car and im young but they are a specialist insurer for these types of people.

i bought the car under the understanding i could get insurance for this amountmi cant afford to pay this new price at all,so ive now got a car i cant afford.is there anything i can do?

should i go to the insurance ombudsman?

any adice appreciated

...sell your car, dry your eyes & move on. If I was a real pedant I'd also suggest a spelling & grammar course too.

shelly

thewinkshow wrote: »

is there anything i can do?

Sure there is, phone as many 0800 numbers as your patience allows. I do this every year for 2 cars and a bike and we rarely stay with the same co. We never ever pay more at renewal then we did the previous year either.

Personally I prefer phoning around than using screenscraper sites as talking to a proper person gets me the extras I want that sometimes aren't available online.

louidog

Every year the insurance goes up despite us getting older....it's just the different companies ways of getting different customers or telling you they don't want to insure you.
Would you pay more than you need to? No, so you just go shop around and find a cheaper one!

skintscotsman

Labman wrote: »

...sell your car, dry your eyes & move on. If I was a real pedant I'd also suggest a spelling & grammar course too.

You're an !!!!!!.

mattymoo

1st Quote are a broker.
It is the insurer that has put the price up. Will be either because they have had a bad experience with young drivers and sports cars or it is simply no longer a market they wish to underwrite. They increase the price in the hope you will go elsewhere.

Have 1st Quote tryed other insurers for quotes? If not, they are not doing their job properly. As Shelly suggests, time to start calling around the insurers to see what you can find.

Try a screen scraper site first. A lot of insurers will not quote for your age / vehicle and this will help you to rule them out and save time.

Labman_2

skintscotsman wrote: »

You're an !!!!!!.

Explain & expand....before you get this thread pulled.

dunstonh

i bought the car under the understanding i could get insurance for this amountmi cant afford to pay this new price at all,so ive now got a car i cant afford.is there anything i can do?

Shop around for a revised quote or sell the car and get one that is a less risk.

ive spoke to a manager who says its a mystery and cant offer any explaination.i know its a sports car and im young but they are a specialist insurer for these types of people.

It could be a number of things. Parts for MGs perhaps less easily available than in the past. This happened with Land Rover a number of years back on early Freelanders where certain parts were hard to source. That pushes the costs up. The insurance company may be wanting to reduce it's risk in certain areas and has repriced accordingly. Your age is still not a big difference. That doesnt really reduce much until you are 30.

A company that specialises in high risk drivers doesnt mean that they are going to be low cost.

should i go to the insurance ombudsman?

You cannot. However, even if you could, what are you going to say without making yourself look foolish? The insurance company has a right to charge what they feel is reasonable to cover the risk that they perceive. If you dont like it, you dont buy it. If you cannot afford it, then you cannot afford it. You cannot go to the FOS and complain that you cannot afford the insurance. They cannot change the fact you cannot afford it.

It was probably that line which labman felt he should respond in the way he did. It does sort of come across as if you feel you have a right to be able to afford it and if you cant then someone else is to blame.

Every year the insurance goes up despite us getting older....it's just the different companies ways of getting different customers or telling you they don't want to insure you.

Car insurance has been going down in real terms for many years. However, certain risk groups have seen rises. Particularly under 25s. Many insurers are losing money on car insurance due to low margins and too many companies.

kai666

My insurance went up (as it always does) this year, so i rang round, got loads of quotes then rang my insurance company and told them i was cancelling because i Had a whole stack of cheaper quotes. They then beat the cheapest quote, by keeping my insurance at the same level as last year

Insurance conpanies always push the price up the second year thinking that

a) people don't notice
b) people can't be bothered

ring round, it will not be an hour or so wasted however boring it is