Cost of Car Insurance Getting Ridiculous

Derekphil

I've just renewed my car insurance with Axa.

I am amazed at the increase in costs. I hear abour insurance cost increases, and am prepared or preconditioned to accept that my car insurance will increase year on year, but the scale of the increase for the last two years is breathtaking. It's gone from £439 to £628 to £816 in two years, an increase of 86%.

The car is a 2018 Hyundai Ioniq plug in hybrid, value about £15000. Our circumsances have not changed, two named drivers, my wife and I, we do about 9,000 miles a year, both have no claims for over 20 years. The only adverse circumstances are our ages, I am 88, my wife 83, but in good general health. I offered to take an advanced driving course but was told this was irrelevant.

I tried comparison sites (not Money Savings Expert, but I will next time) an Axa were the cheapest.

I'm trying to make sense of this, and failing. A similar increase next year will take me well over £1000. And we need a car, so must insure it. Advcie on how to reduce the cost would be welcome.

I feel I'm being ripped off, and it's not good.

user1977

I suspect it’s mostly your ages to blame, as you’ve passed the age of “experienced driver” into “driver with probably failing physical/mental faculties”.

DullGreyGuy

Pricing line for age is roughly a U... starts high as a teenager, goes down to a floor when late 20s to early 70s and then starts going back up again. Thankfully it never gets as high as a 17-19 year old again but it does get higher year on year. 

It's great you're still in fine form at your age, unfortunately not everyone of your age is and not everyone that isn't in fine form realise it either. In my claims days had 2 customers in their mid 80s who in a space of a couple of months caused two multi-car accidents where they said they'd mistaken the accelerator for the break and so had hit 4-6 parked cars. In one case the daughter said her father would be surrendering his licence and is ashamed of causing the two crashes, the other case the customer was insistent he was still fine but we decided not to offer a renewal.