Car insurance renewal

joesoap1264

hi guys, hope you all had good Xmas.
time for me to renew car insurance again, did it 5 th jan last year, £250 + £60 breakdown. Good! Avila.
been on sites, and MSE ‘s new one, in my opinion, not up to much.
astounded by the increase.
according to stats I have read, including MSE’s 14% to 20% is the nor, for rise in the last 12 months !
my quotes are all circa £400+, not exactly 14-20% ?
same details, in fact, my daughters, who is named driver, her accident 5 years ago has expired !
are other experiencing similar increases ?
inflation 11% is one thing, but increase of approx 70%+ is a bit steep.
awaiting renewal quote from a viva, they are quoting £450 on moneysupermarket for same policy as I have now with them, and no breakdown cover this time , gone to another company for that.
I rarely wait for renewal quote, just get quotes 20to 23 days prior to expiry date and take a punt, never usual  lost out on renewal with another company, change practically every year .
appreciate any replies.
gotta pay it, whatever it is .
got a week or so to get more quotes , cannot see them changing, other than more .
cheers guys

dunstonh

astounded by the increase.
according to stats I have read, including MSE’s 14% to 20% is the nor, for rise in the last 12 months !

Not unexpected really.   General inflation is in double digits and motor industry inflation more so.  Second hand car values have gone up and spare parts, especially electrical, are hard to source and therefore more expensive.

inflation 11% is one thing, but increase of approx 70%+ is a bit steep.

Maybe you were using an insurer that had early-year discounting last year.  (sounds like it from your post).  That isn't allowed any more.    Those that shopped around each year are worse off under the new rules. 

I rarely wait for renewal quote, just get quotes 20to 23 days prior to expiry date and take a punt,

You should wait.  There is no hurry to get it and under the new rules it makes more sense to wait.

noitsnotme

Just shaved £40 off my wife’s insurance.  And that was with adding class one business cover this year for the first time. Previous insurer Sheila’s Wheels quoted £250 at renewal.  Through Top Cash Back found Tesco was like for like cover (plus the business cover) for £209.  

Sheila’s Wheels said they would beat the Tesco price by £10 when phoned up to cancel but we’re due a £40 cash back from TCB so stuck with Tesco.

I did wonder why Sheila’s Wheels suddenly came up with a lower price when we wanted to cancel, I thought they had to offer the lowest price at renewal now?

DullGreyGuy

noitsnotme said:

I did wonder why Sheila’s Wheels suddenly came up with a lower price when we wanted to cancel, I thought they had to offer the lowest price at renewal now?

No, a renewal quote must be the same or lower than a new business quote is for the identical product via the identical channel etc. Nothing says they cannot cut a renewal quote lower following a discussion

sevenhills

RPI inflation is 14%

joesoap1264

sevenhills said:

RPI inflation is 14%

14% isn’t nearly 70%
If I add breakdown cover on top of insurance, both come to approx £500 with Aviva.
others are not much below it.
I know about new customers rule, last year, I jumped the gun, renewal came Day after I took Aviva out, GA were £20 cheaper if I had stopped with them , I didn’t get a discounted rated for first time, been with them several times .
will wait for renewal from Aviva.
sign of times .
always get out by paying.
Thanks for replies

danlightbulb

Having same issue. Renewal is nearly double the price I paid last year - seriously, from £450 per year to over £800. This is Shiela's wheels.

About to phone them up. I can get a quote of circa £450 online with 1st central. They have bad reviews but I won't have a choice, I can't pay £800 that is a joke.

DullGreyGuy

danlightbulb said:

About to phone them up. I can get a quote of circa £450 online with 1st central. They have bad reviews but I won't have a choice, I can't pay £800 that is a joke.

With budget provider you've mentioned, make sure that you have been 100% accurate with all your answers... if you declare you've had your car 5 years but actually its 4 years and 10 months you may find your revised premiums are even higher than your renewal quote. 

Smithcom

DullGreyGuy said:

danlightbulb said:

About to phone them up. I can get a quote of circa £450 online with 1st central. They have bad reviews but I won't have a choice, I can't pay £800 that is a joke.

With budget provider you've mentioned, make sure that you have been 100% accurate with all your answers... if you declare you've had your car 5 years but actually its 4 years and 10 months you may find your revised premiums are even higher than your renewal quote. 

This is very good advice, if you have to use a budget provider. 

danlightbulb  looks to use a well-known, established and reputable provider.

Many policies look good, until the point of claim, when the proof of the pudding becomes clear!!

But in the absence of a choice, DullGreyGuy's advice is good.   Make sure all information provided is spot-on and 100% accurate

SC

daveyjp

Just sorting out insurance and the increase on last year is a few quid, but I had a no fault claim a few weeks ago which wasn't recorded.

Now added that to the renewal and no difference in premium.  £220 a year, cheapest comparison is £211, but excudes driving other cars so we'll stay where we are.