Car insurance Going Crazy..?

aviii

for the past 4 years i have been paying under £500 for my car insurance.
I got a renew quote for around £400.

i always go on-line to see if i get a better deal and usually do - HOWEVER this time around - the cheapest quote i got on the comparison web sites was £1000..!!!!!!!! even what i went on the main providers web site it coming up to over £1500...!!!!!

is there something going on the insurance world that i do not know...? why are prices so high..? is it certain times of the year its higher.

i was looking at getting another car and back in January started looking at what it would cost me - and was getting quotes of £500, now for the same type of car its £800-£900...

DoaM

Have you moved house?

Are you changing the type or features of the cover?

Have you gathered any points on your licence?

Has a named driver on your policy had any claims?

Perhaps your postcode area has incurred a significant increase in insurance claims quite recently which means all policies are being increased at renewal?

There could be any number of reasons why policy prices change.

EssexExile

The wife renewed a couple of weeks ago & it was within a few pounds of last years price after a little haggling.

aviii

everything was the same - so a little baffled - ended up sticking withe the same insurer.

when i did the quotes, it was in January and when i redid them this week - i was expecting them to go up a few quid - but not 100's.

my though was, it was January , after xmas, so maybe the insurance companies know people will not have much money and not be insuring their cars...

bengalknights

Car insurance has definitly gone crazy as all my new quotes are coming in way more than renewal!

Also been same with various family, friends and colleageues.

peter_the_piper

I had my renewal from LV and it was about £5.00 more than last year. Still I thought it worth a compare and all the quotes came in about £59 more.

Bigphil1474

I had a renewal from Aviva in February which was about £15 more than last year - did a check for better deals and the cheapest was much more than the renewal quote. Usually the other way round, and get a renewal quote which has jumped up by a lot, and find cheaper deals through the normal searches. I suspect it's some sort of Donald Trump plot.

MEM62

There is no logic to current motor insurance rates and hasn't been for some time. You are charged with whatever the market will stand rather than a premium based on underwriting your particular circumstances.

iolanthe07

I renewed with Saga in March and the premium was only a pound or two more than last year.

custardy

Mine went up about £100 this year. No changes but couldnt get it down with other companies.

Car_54

MEM62 wrote: »

There is no logic to current motor insurance rates and hasn't been for some time. You are charged with whatever the market will stand rather than a premium based on underwriting your particular circumstances.

Interesting theory. If true, the job market would be flooded with redundant underwriters and actuaries. I haven't seen that reported anywhere.