High Compulsory Excess

XzavierWalnut

Has something changed in the last year regarding compulsory excess increases?
Last year it was £200. Looking at recent renewal prices, the ones with the cheapest insurance costs have between £350 and £600 compulsory excess.
The only difference in my circumstances is that we do not have 2 cars in the household now, only the one.

DullGreyGuy

About the 3rd year in a row of underwriting losses for the Motor Insurance industry as a whole. Normally you'd expect losses to result in an increase in premiums but cutting limits or nudging up excesses are alternative options depending exactly where your losses are coming from. Eg if there is a big spike in Third Party claims there is no point changing the excess as it doesn't apply to TP claims. 

Northern_Wanderer

Not sure. Assume you have tried different comparison sites to see if any different deals available there? Every quote based on a risk profile, you are older, might be an address risk thing, difficult to say. Have you tweaked the voluntary excess to see if it changes anything?

XzavierWalnut

Northern_Wanderer said:

Not sure. Assume you have tried different comparison sites to see if any different deals available there? Every quote based on a risk profile, you are older, might be an address risk thing, difficult to say. Have you tweaked the voluntary excess to see if it changes anything?

I have tried the usual top 2 and both were similar. And tried the voluntary excess but they were till quite high.
The insurance price has gone up as well but I did expect that.
I'm 61 and my wife is 71, and as I have said the only difference this year, is that we only have one car.
Actually there is one difference in that with only one car now, the mileage per year has increased to 10,000.

DullGreyGuy

XzavierWalnut said:

Northern_Wanderer said:

Not sure. Assume you have tried different comparison sites to see if any different deals available there? Every quote based on a risk profile, you are older, might be an address risk thing, difficult to say. Have you tweaked the voluntary excess to see if it changes anything?

I have tried the usual top 2 and both were similar. And tried the voluntary excess but they were till quite high.
The insurance price has gone up as well but I did expect that.
I'm 61 and my wife is 71, and as I have said the only difference this year, is that we only have one car.
Actually there is one difference in that with only one car now, the mileage per year has increased to 10,000.

And you're a year older which will be significant with your wife's age as she's getting to the point where insurance becomes more expensive again

XzavierWalnut

Thanks for all the answers, hopefully we will not have a claim.

Mildly_Miffed

I'm looking at quotes for both our main car and my mother's car at the moment.

Both are cheaper this year than last.

The really odd thing, though, is that my 85yo mother's policy gets ~10% more expensive if I add myself (mid 50s, totally clean licence and history) as a named driver...