Does renewal normally increase by 33%

pinkpig08

Hi,
I started my first insurance as a policyholder last year when I got my own car. Prior to that I had been a named driver on my partners policy for 8 years. I rang Lloyds TSB as that is who his insurance was with, and they quoted my £162. I was really impresses as it was my first policy, and they had also given me 5 years of his NCD.
I got the renewal letter last week and the premium has gone up to £217. I haven't had an accident or made any claim in that time. My partner is a named driver on my insurance, we've lived at the same address for 5 years and he hasn't made any claim either.

Is it usual for premiums to go up this much? My partners' seems to stay roughly the same.

Any advice appreciated,
pinkpig

dzug

You may have had an introductory discount to lure you in.

Shop around - though make sure that the new company will accept the incoming NCD as it's not a 'real' one.

MissMassEffect

My car insurance renewal went up by about a third this year too, I was with the Post Office, I managed to get a better deal with AIG Direct, got it for £120 odd cheaper, it is the first year my premium went up with the PO, was strange as I couldn't see a reason why

Steve1981

MissMassEffect wrote: »

My car insurance renewal went up by about a third this year too, I was with the Post Office, I managed to get a better deal with AIG Direct, got it for £120 odd cheaper, it is the first year my premium went up with the PO, was strange as I couldn't see a reason why

Lots of Post Office customers are complaining that renewals are sky high this year - they did a lots of offers and a big drive to take on lots of new business last year I guess it makes sense that they are trying to recover costs of the discounts they made last year

Paul_Herring

pinkpig08 wrote: »

Is it usual for premiums to go up this much?

IME, no. The renewal quote goes up by much more than that. Probably the reason I've never stayed with one insurer for two years in a row, since I can usually match (or occasionally beat) the previous year's insurance by going elsewhere.

Shop around for quotes.

Steve1981

Paul_Herring wrote: »

IME, no. The renewal quote goes up by much more than that. Probably the reason I've never stayed with one insurer for two years in a row, since I can usually match (or occasionally beat) the previous year's insurance by going elsewhere.

Shop around for quotes.

Renewal quotes going up more than 33%
no one would keep any customers

Paul_Herring

Steve wrote:

no one would keep any customers

I did prefix that with 'IME'

And as I pointed out, they didn't keep me

pinkpig08

Thanks, I've been online to get a quote from my existing insurer and it comes out £25 cheaper than the renewal quote!