Car insurance frustration

midimanuser

Hi,


Every year I find myself fuming about my renewal.



I am Over 40.
Never made a claim.
17 Years NCB.
Pay more for my insurance than what the car is worth.
Never seen my premium drop.


And I do shop around, the best price I can find on any site is around £420.


They just take what you paid last year and add on a bit more.
Even though you have aged and gained another years NCB.

forgotmyname

For a few years it went down and now its back up to the same level as before.

Insurance is more than the cars worth buy a dearer car

*Rainbow*Warrior*

Are you using the comparison site to shop around?

Might be worth fiddling with the info you put in and see exactly what is causing the high premiums. Is it the type of car, or your address, or your occupation?

Obviously don't do anything fraudulent but you can get quotes based on different details and maybe work out if you need to change your car or something to get a better deal. Also worth trying different job titles as some can fall under more than one title and you may find one works out cheaper than another.

paddyandstumpy

The value of the car is somewhat irrelevant when it comes to the premium for insurance. You can have a car worth £500 or £5,000 or £50,000; it's the cost of the damage you can do with it that your paying for.

midimanuser

*Rainbow*Warrior* wrote: »

Are you using the comparison site to shop around?

Might be worth fiddling with the info you put in and see exactly what is causing the high premiums. Is it the type of car, or your address, or your occupation?

Obviously don't do anything fraudulent but you can get quotes based on different details and maybe work out if you need to change your car or something to get a better deal. Also worth trying different job titles as some can fall under more than one title and you may find one works out cheaper than another.

My car is worth about £500 and its insurance group 6.


Thanks

Aretnap

paddyandstumpy wrote: »

The value of the car is somewhat irrelevant when it comes to the premium for insurance. You can have a car worth £500 or £5,000 or £50,000; it's the cost of the damage you can do with it that your paying for.

Indeed, the insurers aren't charging you £420 because they're worried about having to pay out £500 to replace your car. They're mostly worried that you'll cripple someone for life and they'll end up paying out £23 million. You're just as likely to do that in an old banger as you are in a brand new car - indeed, if anything you're more likely to do it in the old banger because the old banger is more likely to be in poor mechanical condition, and won't have a modern car's safety features. Hence very old, cheap cars can often be more expensive to insure than newer, more valuable cars.

Usually once you get over 5 years NCD, and certainly once you get over 9 years, additional years tend to make very little difference to your premium. Now you're over 40, insurers aren't really that interested in how good your driving was as a 20-something - I'm a very different person to my 20-year old self, and you probably are as well.

forgotmyname

Cheap older cars maybe your issue. Whilst looking for a car my my little one, anything over 10 years old pushed the premium up considerably.

Ford KA made from 1996 to 2008 with the same shell. Anything older than 2004 cost hundreds more than a 2004 or newer model.
Slightly silly as the newer model had the better engine fitted which had more power. Yet it was cheaper to insure.

Cheapest car to insure was a brand new car.... A peugeot 108 i think?

EdGasket

forgotmyname wrote: »

Cheap older cars maybe your issue.

Not necessarily. I've got a year 2000 car worth around £300 market value (but more to me) and just insured it for £138 including business use for 2, legal cover, and NCB protection.

csgohan4

EdGasket wrote: »

Not necessarily. I've got a year 2000 car worth around £300 market value (but more to me) and just insured it for £138 including business use for 2, legal cover, and NCB protection.

That's almost triple what I pay, how many years NCB do you have? I only have 10.



OP a broker may be of some help to see what other insurers are out there.

EdGasket

I got about 40 years NCB but due to changing companies they only acknowledge 9 of those. So you get insurance incl business for £46 a year?? I am talking of the annual premium here not monthly.

takman

csgohan4 wrote: »

That's almost triple what I pay, how many years NCB do you have? I only have 10.



OP a broker may be of some help to see what other insurers are out there.

I would also like to know where you get insurance with business use for three times less than £46 a year!.