Car insurance not coming down

MikeJXE

Hi

My car insurance is due next month and my insurer sent me a new quote, last year £563 raised to £764. I thought no chance so I did a comparison and the cheapest was £1067 I was gob smacked. 2016 Jaguar XE portfolio 1.8 6000 miles per year, over 10 years no claims, no points, No accidents since 1962. Is it an age thing ?  

Thanks 

cymruchris

MikeJXE said:

Is it an age thing ?  

Thanks 

You don't mention your age - but it can be a thing.

As much as you are accident free since 1962 - the demographic average at any given age will be used to calculate premiums amongst other things.

So it may be that:

8% of 60-65 year olds have accidents each year

10% of 65-70 year olds do

16% of 75-80 year olds do

21% of 80+ do

(I've just made up those figures)

So if all the other policyholders of your age were clumped together for accident analysis - it could very well be that as a percentage the number is higher than the age you were last year. So higher risk - higher premium.

(Just as a side note - my renewal has come through last week - and I've gotten my premium down from £430 to £360 fully comp on a 2007 SLK 350 with a 3.5 litre engine with an annual mileage of 5000 miles in my 40's with a £45 excess)

MikeJXE

cymruchris said:

MikeJXE said:

Is it an age thing ?  

Thanks 

You don't mention your age - but it can be a thing.

As much as you are accident free since 1962 - the demographic average at any given age will be used to calculate premiums amongst other things.

So it may be that:

8% of 60-65 year olds have accidents each year

10% of 65-70 year olds do

16% of 75-80 year olds do

21% of 80+ do

(I've just made up those figures)

So if all the other policyholders of your age were clumped together for accident analysis - it could very well be that as a percentage the number is higher than the age you were last year. So higher risk - higher premium.

(Just as a side note - my renewal has come through last week - and I've gotten my premium down from £430 to £360 fully comp on a 2007 SLK 350 with a 3.5 litre engine with an annual mileage of 5000 miles in my 40's with a £45 excess)

I'm 82 and my driving history should tell them something, so what you are saying I should expect it to go up every year, thanks

diystarter7

Hi


Do you live  in what is now deemed an unfavourable area, ie where there has been a spate of car crime, ? (insurance co's continuously monitor risk and adjust premiums by area/car accordingly

Thankfully, we went with Saga on their fixed-price insurance and renewed it once. - so peace of mind for three years of fixed price subject to T&C's.

Is that the dinky jag, if so that is a lot of money. (I'm only familiar with the JX and XJS and those were big cars then tey added those little jags to the list and imo degraded the marque.

Have yo considered Saga, the 3 year fix subject to T&C??



Thanks

MikeJXE

diystarter7 said:

Hi


Do you live  in what is now deemed an unfavourable area, ie where there has been a spate of car crime, ? (insurance co's continuously monitor risk and adjust premiums by area/car accordingly

Thankfully, we went with Saga on their fixed-price insurance and renewed it once. - so peace of mind for three years of fixed price subject to T&C's.

Is that the dinky jag, if so that is a lot of money. (I'm only familiar with the JX and XJS and those were big cars then tey added those little jags to the list and imo degraded the marque.

Have yo considered Saga, the 3 year fix subject to T&C??



Thanks

Yes it's the compact Jag lol it's fabulous for me. I'll try sage, the company I'm with (Flow, part of LG) was £200 cheaper than anyone last year, maybe a sprat to catch a mackerel. I'll try Saga thanks 

diystarter7

MikeJXE said:

diystarter7 said:

Hi


Do you live  in what is now deemed an unfavourable area, ie where there has been a spate of car crime, ? (insurance co's continuously monitor risk and adjust premiums by area/car accordingly

Thankfully, we went with Saga on their fixed-price insurance and renewed it once. - so peace of mind for three years of fixed price subject to T&C's.

Is that the dinky jag, if so that is a lot of money. (I'm only familiar with the JX and XJS and those were big cars then tey added those little jags to the list and imo degraded the marque.

Have yo considered Saga, the 3 year fix subject to T&C??



Thanks

Yes it's the compact Jag lol it's fabulous for me. I'll try sage, the company I'm with (Flow, part of LG) was £200 cheaper than anyone last year, maybe a sprat to catch a mackerel. I'll try Saga thanks 

Hi

Lol, "compact" was the word I was looking for. The "dinky" came from dink car days when I was a toddler

Saga the ins outfit - lloks good but never put it to the test and I hope I never have to.

Take care

cymruchris

MikeJXE said:

cymruchris said:

MikeJXE said:

Is it an age thing ?  

Thanks 

You don't mention your age - but it can be a thing.

As much as you are accident free since 1962 - the demographic average at any given age will be used to calculate premiums amongst other things.

So it may be that:

8% of 60-65 year olds have accidents each year

10% of 65-70 year olds do

16% of 75-80 year olds do

21% of 80+ do

(I've just made up those figures)

So if all the other policyholders of your age were clumped together for accident analysis - it could very well be that as a percentage the number is higher than the age you were last year. So higher risk - higher premium.

(Just as a side note - my renewal has come through last week - and I've gotten my premium down from £430 to £360 fully comp on a 2007 SLK 350 with a 3.5 litre engine with an annual mileage of 5000 miles in my 40's with a £45 excess)

I'm 82 and my driving history should tell them something, so what you are saying I should expect it to go up every year, thanks

I think as you head towards 90 the premiums will certainly increase. I'm not sure they'll increase every year - but there'll certainly be a northward trend hereonin. Although lower mileages traditionally mean lower premiums - I do think as we age, lower mileages load the premium, as we're in essence 'not getting the practice' and only driving short distances. I think there are quite a few factors that go against us as we get older. I see it as a bit of a 'U' curve. When we start driving, we are on the top left of the 'U' paying extortionate premiums to drive a 1 litre fiesta - and then it goes down as we get older and more experienced - but once we get into our 70's I think we start going up the other side of the 'U'. There's likely a few more experienced people that can share an opinion - but that's the way I think it works.

diystarter7

Premiums start to increase from about 65 according to a sibling.

MikeJXE

LOL £1745.51 that's the 3 year deal. I'm not getting shut of the car I'll starve first 

diystarter7

MikeJXE said:

LOL £1745.51 that's the 3 year deal. I'm not getting shut of the car I'll starve first 

lol, thats a lotta money

I dont just look at the price, but go for a good ins outfit that has a reputation to keep but never had to test one because when things go wrong, you want them to fix it

How about buying a classic jag as the isn may be chear. Free tip, dont do what many do buy the car and then try to insure it, look up the insurance costs first, lol

Thanks

MikeJXE

diystarter7 said:

MikeJXE said:

LOL £1745.51 that's the 3 year deal. I'm not getting shut of the car I'll starve first 

lol, thats a lotta money

I dont just look at the price, but go for a good ins outfit that has a reputation to keep but never had to test one because when things go wrong, you want them to fix it

How about buying a classic jag as the isn may be chear. Free tip, dont do what many do buy the car and then try to insure it, look up the insurance costs first, lol

Thanks

I've had the car since December 2019, bought Jaguar approved with 22000 on the clock, I have it serviced at a garage near me who does old jags up and has about 6 or more at his garage MDM Services. Not seen this one though