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Car insurance not coming down

in Motoring
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MikeJXEMikeJXE Forumite
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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 
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  • cymruchriscymruchris Forumite
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    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)
    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
  • MikeJXEMikeJXE Forumite
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    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
  • edited 6 February at 11:58PM
    diystarter7diystarter7 Forumite
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    edited 6 February at 11:58PM
    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
  • MikeJXEMikeJXE Forumite
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    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 
  • diystarter7diystarter7 Forumite
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    MikeJXE 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


  • cymruchriscymruchris Forumite
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    MikeJXE 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.
    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
  • diystarter7diystarter7 Forumite
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    Premiums start to increase from about 65 according to a sibling.
  • MikeJXEMikeJXE Forumite
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    LOL £1745.51 that's the 3 year deal. I'm not getting shut of the car I'll starve first 
  • diystarter7diystarter7 Forumite
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    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
  • MikeJXEMikeJXE Forumite
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    Forumite
    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


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