Insurance tripled when moving home

msc127

Hi guys, apologies for another one of these threads, I imagine they come up frequently but i've not encountered anything quite as extreme as my situation.

I'm looking to make my first ever big car purchase, being a life long petrol (now ev) head it's been quite exciting. I've recently just purchased my first house and will be moving in at the end of the year so thought i'd check out other related bills and expenses. Upon using a comparison website to check my insurance my insurance is almost triple when I compare to my current address and I can't figure out why.

For example, i'm being quoted around £4k at the new address (which has a secure garage) vs £1,200 at my current address for a 2018 BMW I8, similar quote for a tesla model 3, the only one that seems to come out 'reasonable' is a 981 Cayman GTS (£1k vs £1.7k). I have no issue paying the appropriate insurance but this seems spiteful.

I'm literally moving up the road in almost the same postcode, no flood risk at all. Crime rate there is comparatively lower to where I am now, both nice areas.

I'm almost 30 with no claims, 7 years NCD and 2 SP30's.

I just can't figure this one out and wondered if anyone else has encountered something similar?

Thanks for taking the time!

EdGasketTheSecond

Maybe someone dodgy lived at the address before and hence it is categorised as high risk.

msc127

EdGasketTheSecond said:

Maybe someone dodgy lived at the address before and hence it is categorised as high risk.

Yeah crossed my mind but it's an 85 year old geezer who lived there for 45 years.