Temp Car Insurance over £40 help!!!!

fatboyslick

Hi

My car insurance for an Audi TT ended this week and I'm in the process of trying to buy a new car. Not wanting to take a full years insurance obviously I thought I'd got for temporary insurance.

I did this a few years ago and it cost about £60 for a month for a Clio.

However I'm getting back quotes of £360-£400 for just one month.....that's more expensive than renewing for 12 months where I'm getting quotes of £250

Any ideas what is going on?!?!

Nodding_Donkey

Insurers don't like short term policies. Why not get a 1 year policy and switch it onto the new car when you get it?

fatboyslick

Thanks for the reply

Am I not at the mercy of the insurer then though....they could simply tell me it'll cost £500 to switch it and I'm shafted

simon06

Welcome to the cartel world of Uk car insurance its a shady sort of unregulated place run by crooks.

Car_54

simon06 wrote: »

Welcome to the cartel world of Uk car insurance its a shady sort of unregulated place run by crooks.

If it was a cartel, run by crooks, then you'd expect them to be making massive profits. Instead, almost every insurer is losing money on car insurance.

How do you explain that?

AdrianC

So take out the new annual policy then cancel it, if the premium to switch is too high...?

Nodding_Donkey

fatboyslick wrote: »

Thanks for the reply

Am I not at the mercy of the insurer then though....they could simply tell me it'll cost £500 to switch it and I'm shafted

Can you not ask them before hand? Get a dummy quote for the sort of car you are after buying?

topdaddy_2

[quote=[Deleted User];66330658]If it was a cartel, run by crooks, then you'd expect them to be making massive profits. Instead, almost every insurer is losing money on car insurance.

How do you explain that?[/QUOTE]

Really? Dont believe that. If true Then everyones getting shafted and they need to get thier house in order. Its a business afterall. Pull out of the market or make it profitable, no ones asked em to be in business.

nonnatus

I've just insured my uncle to drive my car for a month when he comes to visit. I used a company called dayinsure.com and they were nowhere near as expensive as the results OP quotes.
My car is not in the same league as OP's but even so....?

Car_54

topdaddy wrote: »

Really? Dont believe that. If true Then everyones getting shafted and they need to get thier house in order. Its a business afterall. Pull out of the market or make it profitable, no ones asked em to be in business.

I think you'll find that they are all trying to make it profitable!

However, it's a highly competitive business (another sign that it's not a cartel) so there's little scope for raising prices unilaterally.

If the loss-makers simply pulled out of the market, those left could raise their premiums, so bad news for the consumer.

That would also make it attractive for those who had left to come back, so here we go again ...

topdaddy_2

[quote=[Deleted User];66331489]I think you'll find that they are all trying to make it profitable!

However, it's a highly competitive business (another sign that it's not a cartel) so there's little scope for raising prices unilaterally.

If the loss-makers simply pulled out of the market, those left could raise their premiums, so bad news for the consumer.

That would also make it attractive for those who had left to come back, so here we go again ...[/QUOTE]

It is profitable;) otherwise it wouldnt be done.