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  • FIRST POST
    • MSE Guy
    • By MSE Guy 22nd Oct 09, 12:00 PM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Record rise in car insurance costs
    • #1
    • 22nd Oct 09, 12:00 PM
    MSE News: Record rise in car insurance costs 22nd Oct 09 at 12:00 PM
    This is the discussion thread for the following MSE News Story:

    "The cost of car insurance is rising at its fastest rate on record, research reveals today ..."


Page 1
    • DCFC79
    • By DCFC79 22nd Oct 09, 5:27 PM
    • 34,221 Posts
    • 21,616 Thanks
    DCFC79
    • #2
    • 22nd Oct 09, 5:27 PM
    • #2
    • 22nd Oct 09, 5:27 PM
    surely you find out the cost of insurance before you buy a car. BBC nradio news spoke to a guy who had a van and a car and he was moaning about the cost of insurance but surely the logical thing to do is to either shop around or sell the car and buy a cheap car which will be less to insure,
    • olly300
    • By olly300 22nd Oct 09, 5:33 PM
    • 14,312 Posts
    • 13,632 Thanks
    olly300
    • #3
    • 22nd Oct 09, 5:33 PM
    • #3
    • 22nd Oct 09, 5:33 PM
    surely you find out the cost of insurance before you buy a car.
    Originally posted by DCFC79
    That's logical but it seems that many newish posters who post on these boards don't do it particularly if they are in a high risk group. They presume because their mother/father/older sister has a low premium they will too.

    BBC nradio news spoke to a guy who had a van and a car and he was moaning about the cost of insurance but surely the logical thing to do is to either shop around or sell the car and buy a cheap car which will be less to insure,
    Originally posted by DCFC79
    Was he complaining about the car insurance or the van insurance?

    I've heard that more vans are involved in accidents than cars, and seeing how they are driven I can understand why.
    I'm not cynical I'm realistic

    (If a link I give opens pop ups I won't know I don't use windows)
    • dacouch
    • By dacouch 22nd Oct 09, 9:23 PM
    • 20,693 Posts
    • 12,824 Thanks
    dacouch
    • #4
    • 22nd Oct 09, 9:23 PM
    • #4
    • 22nd Oct 09, 9:23 PM
    We predicted big rises about 6 months ago when we discussed the impact of a recession on motor premiums
    • raskazz
    • By raskazz 22nd Oct 09, 11:26 PM
    • 2,832 Posts
    • 1,284 Thanks
    raskazz
    • #5
    • 22nd Oct 09, 11:26 PM
    • #5
    • 22nd Oct 09, 11:26 PM
    It's hardly surprising. I suspect that there is considerable disparity between various insurer's increases. Those that have chased volume are getting hurt.
  • Bobjob
    • #6
    • 11th Nov 10, 9:28 PM
    • #6
    • 11th Nov 10, 9:28 PM
    Got my renewal notice today from More Than: up 56% from 679 last year to 1061. No changes (except my daughter who shares the car has one year more experience - making three years), no claims, no convictions - no excuse for such an extortionate rise. If the average rise is 22% then why am I being targeted?

    Now I have to waste a day or two (no MSE, it's not 5 mins per search - what planet do you live on?) going through the whole rigmarole again. Mind you, I would be pleased to get away from our More Than Indian friends (none of whom seem to be able to speak English).
  • mikey72
    • #7
    • 11th Nov 10, 9:39 PM
    • #7
    • 11th Nov 10, 9:39 PM
    What is this?
    Round 2 over a 2009 article?
    • dunstonh
    • By dunstonh 11th Nov 10, 9:54 PM
    • 98,313 Posts
    • 66,568 Thanks
    dunstonh
    • #8
    • 11th Nov 10, 9:54 PM
    • #8
    • 11th Nov 10, 9:54 PM
    Got my renewal notice today from More Than: up 56% from 679 last year to 1061. No changes (except my daughter who shares the car has one year more experience - making three years), no claims, no convictions - no excuse for such an extortionate rise. If the average rise is 22% then why am I being targeted?
    Because higher risk people are being charged to cover the higher risks. You are higher risk as you have a young and inexperienced driver on the policy. So, a perfectly good reason to charge you more.

    If you were lower risk you would see no increase or even a drop this year.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Bobjob
    • #9
    • 16th Nov 10, 8:30 PM
    • #9
    • 16th Nov 10, 8:30 PM
    Because higher risk people are being charged to cover the higher risks. You are higher risk as you have a young and inexperienced driver on the policy. So, a perfectly good reason to charge you more.

    If you were lower risk you would see no increase or even a drop this year.
    I was already paying an extra premium for a young driver in 2009. Nothing has changed. You completely failed to see my point. Do you think a 56% premium rise is fair?
  • Quote
    I was already paying an extra premium for a young driver in 2009. Nothing has changed. You completely failed to see my point. Do you think a 56% premium rise is fair?
    Originally posted by Bobjob
    What do you mean by fair?

    Is your point that you are racist?
    • dunstonh
    • By dunstonh 17th Nov 10, 12:10 AM
    • 98,313 Posts
    • 66,568 Thanks
    dunstonh
    I was already paying an extra premium for a young driver in 2009. Nothing has changed. You completely failed to see my point. Do you think a 56% premium rise is fair?
    Originally posted by Bobjob
    Given the increase in costs for higher risk people then yes I think its fair in as much as someone has to pay for it. Whilst there is cross subsidy across the board, the higher risk people have to pay more than the lower risk to keep the system fair.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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