Car Insurance doubled.

KXL88

My last year's and years before around 480 mark for 21 plate A3. This year's renewal 654 but doing a quote as new customer was 735 and comparison sites around 750 mark (with black box). Many more insurers just flat out refused to insure postcode. Or so I thought. Decided let me put my previous car Volvo V40 same address, came in at 530 though it's several insurance groups higher and more insurers willing to insure. So it's not the postcode. Emailed my insurers what's my actual premium, 654 in email or 647 as per the pdf document and if they can be more competitive. They replied ok best we can do is 614 which I accepted. 

2010

An analysis of 28 million policies found the average premium in the three months to the end of June was £511, 21% higher than this time last year.

Some motorists have contacted the BBC citing quotes triple the previous year.

https://www.bbc.co.uk/news/business-66466626

WellKnownSid

I have just renewed one car - a six cylinder Mercedes - up from £92 last year shocked to discover it’s now £93 this year.  YMMV as the Americans might say…

Rolandtheroadie

Paid around £108 last year for a motorbike, the renewal came in at £256. On Confused they were £140, I got it for £77 elsewhere. 
 The car was around a tenner more, just paid it. 

Sea_Shell

For every customer who sees "average" increases, some will see more and some will see less.

Thankfully, I'm in the 'see less' category.   Still up, but not by much

.2010 said:

An analysis of 28 million policies found the average premium in the three months to the end of June was £511, 21% higher than this time last year.

Some motorists have contacted the BBC citing quotes triple the previous year.

https://www.bbc.co.uk/news/business-66466626

daivid

Last year £197 renewal quote £203 seemed ok. Looked through comparison sites, 20 days before renewal could have beaten the renewal by about £5 utilising £20 cashback. Phoned provider (TESCO) wanted to up milage by 2000miles upped the excess from £300 to £500, they said £210 which seemed ok, then offered to check for a loyalty discount (only had one year with them…) end result policy renewed for £196 (albeit with higher mileage and excess). 

On the whole I'm happy with the premium. But things do look to have changed: whilst the best premiums offered to me have only varied by about £25 in the last 8 years cash back has dried up - a few years ago my insurance was ~£150 (best ever £125) after cash-back was accounted for, for the last 2 years cashback offers have been near useless (a small discount on a slightly higher premium). The other thing I noticed this year is comparison sites being less competitive - one returned best prices competitive with the renewal quote, all others were 50% more (though one of those said they would give cashback to beat any like for like quote by £20 - though only up to £100 total CB IIRC).

2010

I`m beginning to wonder if 22 days before renewal is the optimum time to search.
I searched and took out the cheapest 22 days ago (up by 81% since last year and nothing had changed).
I`ve just done a search now and could have got it £4 cheaper today the day of renewal.

born_again

Re above ML mentions a number of days before to get best price. Ins co's tweak systems to make that the most expensive 🤣
Better not post the rest of my thoughts... 
Cynical, who me never 😶‍🌫️

WellKnownSid

born_again said:

Re above ML mentions a number of days before to get best price. Ins co's tweak systems to make that the most expensive 🤣
Better not post the rest of my thoughts... 
Cynical, who me never 😶‍🌫️

People who renew earlier are a lower risk
So they are rewarded with a lower renewal
Other people are encouraged to renew earlier because it’s cheaper
People who renew earlier are now a higher risk
So are no longer rewarded with a lower renewal

Plus the use of AI means instead of looking at 100 different factors to determine what you pay they look at 100,000,000 different factors from, I don’t know, the weather on the day you took your driving test to how close to expiry you book your MoT.

We are entering a brave new world…

drawdowndon

WellKnownSid said:

I have just renewed one car - a six cylinder Mercedes - up from £92 last year shocked to discover it’s now £93 this year.  YMMV as the Americans might say…

Who's your insurer?