Car insurance refund question

catoutthebag

I changed vehicle this week and was given just over £300 refund with about 8 months left on the policy (eg equivalent of about £450/yr saving)

My original car was insured at £1500/yr approximately.

So that would mean my new car roughly costing 1500-450=1050 to insure. It is slightly less powerful and slightly smaller engine.


But when I put my new car in the comparison site for a rough annual quote, it was still high at around £1300/1400

So my refund seems high?

Will my premium likely to drop to my anticipated levels if all else stays the same?

paddyandstumpy

Car premiums change so much year on year it's not realistic to say "yes you'll pay £1050 come renewal".

Take the refund, and worry about next year when it comes around.

catoutthebag

Yes I know. But I did a search on premium's starting the same day as I was granted a large rebate, so it didn't make sense.

paddyandstumpy

Did you do these dummy quotes based on your real data or made up (i.e address)?
If the personal info doesn't match against credit files there can be a large load applied, we do this in the company I work for.
Also, what was the proposed start date of the policy? I ask because the difference between quote date and start date is now used by insurers as a rating factor.
The swing between same day and 30+ days in advance is large. Which will be exacerbated on a £1k+ premium.

catoutthebag

Of course it was my real data

paddyandstumpy

And the start date of the policy vs the quote date?
I'm repeating the question because it's not unusual for this to have up to a 25% impact to the price.
Which would turn a £1050 price into circa £1310...

catoutthebag

Ye the policy switchover date I put In the same date on gocompare.

Oddly, too, with this £300 plus refund, the 2years newer 3dr FSI s version (same engine and power as the fsi se version), would have cost me a £100 more to insure on the policy according to insurer (same day enquiry)...so I saved £400 that way