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  • FIRST POST
    • MSE Guy
    • By MSE Guy 21st Jan 11, 4:18 PM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Record leap in car insurance costs
    • #1
    • 21st Jan 11, 4:18 PM
    MSE News: Record leap in car insurance costs 21st Jan 11 at 4:18 PM
    This is the discussion thread for the following MSE News Story:

    "Figures show typical prices soared by 33% in 2010, but you can slash costs by following our simple steps ..."

    Last edited by MSE Guy; 24-01-2011 at 8:45 AM.
Page 1
    • 2010
    • By 2010 21st Jan 11, 4:59 PM
    • 4,238 Posts
    • 3,363 Thanks
    2010
    • #2
    • 21st Jan 11, 4:59 PM
    • #2
    • 21st Jan 11, 4:59 PM
    Figures show typical prices soared by 33% in 2011

    Shouldn`t that be in 2010
    • michaels
    • By michaels 21st Jan 11, 9:10 PM
    • 22,390 Posts
    • 103,108 Thanks
    michaels
    • #3
    • 21st Jan 11, 9:10 PM
    • #3
    • 21st Jan 11, 9:10 PM
    Generally you can get quotes a month ahead.

    My renewal was due 28 Jan - Ran a quote end Dec but did not go for it straight away - rerun early jan and cheapest co had gone up 5%. With prices rising every month and the rises applied at the start of each month it may be best to renew as early as possible?
    Cool heads and compromise
    • rev_henry
    • By rev_henry 22nd Jan 11, 12:17 AM
    • 4,875 Posts
    • 2,065 Thanks
    rev_henry
    • #4
    • 22nd Jan 11, 12:17 AM
    • #4
    • 22nd Jan 11, 12:17 AM
    I have nothing to add other than AHAHAHA I'm 19 and my insurance is WAY below all those 'averages', though I bet they're skewed by a handful of 17 year olds with very rich parents who are paying 10k or something ridiculous to insure their Range Rovers. Can't say I'd turn it down. I wonder what the medians would be?
    Last edited by rev_henry; 22-01-2011 at 4:29 PM.
    • Trunk_z
    • By Trunk_z 22nd Jan 11, 8:57 AM
    • 94 Posts
    • 23 Thanks
    Trunk_z
    • #5
    • 22nd Jan 11, 8:57 AM
    • #5
    • 22nd Jan 11, 8:57 AM
    *sigh*

    Here I am, 23 - hoping my car insurance would start steadily making its way down as I age. Apparently not.

    Also, I have noticed that companies are less and less inclined to haggle with me and make it cheaper. I generally find that now it's a case of "well if it's cheaper, go with that company then".
    • hellokitty08
    • By hellokitty08 22nd Jan 11, 9:33 AM
    • 1,862 Posts
    • 1,299 Thanks
    hellokitty08
    • #6
    • 22nd Jan 11, 9:33 AM
    • #6
    • 22nd Jan 11, 9:33 AM
    Had my driving License 4 years, have 6 years no claims (some from bikes) im 27 and premiums stayed the same this year.
    Debt free since July 2013! Woo hoo! The bank actually laughed when I said I have come in to cancel my overdraft.
    • 2010
    • By 2010 22nd Jan 11, 9:55 AM
    • 4,238 Posts
    • 3,363 Thanks
    2010
    • #7
    • 22nd Jan 11, 9:55 AM
    • #7
    • 22nd Jan 11, 9:55 AM
    ALL insurance companies look for any excuse to raise their premiums.
    Bad weather is always a great excuse as well as a vat increase which gives them a golden opportunity to add their little bit extra as well.
    Getting the odd speeding ticket is another.
    The buildings and contents insurance brigade will sight the recent harsh weather and how many claims they had for burst pipes etc.

    With car insurance you can`t really get away with it because you have to have it by law (although there are plenty running about without any at all).
    Basically we`re at the mercy of these money grubbers who should also go into the same category as bankers, estate agents, MP`s and "criminals".
    • Crabman
    • By Crabman 22nd Jan 11, 1:54 PM
    • 9,733 Posts
    • 7,170 Thanks
    Crabman
    • #8
    • 22nd Jan 11, 1:54 PM
    • #8
    • 22nd Jan 11, 1:54 PM
    Can we look forward to the car insurance costs tumbling when the government fines people for not renewing car insurance on time?

    Don't forget, the insurance companies say 30 is added to every premium to pay for uninsured drivers. So once the problem of uninsured drivers is legislated for, the risk will be minimised and insurance companies being the kind folks that they are, will be only too happy to pass the saving back to consumers in reduced premiums.

    Last edited by Crabman; 22-01-2011 at 2:16 PM.
    I'm a Board Guide on the Savings & Investments, ISAs & Tax-free Savings, Public Transport & Cycling, Motoring and Parking Fines, Tickets & Parking Boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Board Guides are not moderators & don't read every post. If you spot a contentious or illegal post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Views are mine and not the official line of MoneySavingExpert.com

    • worried jim
    • By worried jim 22nd Jan 11, 4:05 PM
    • 10,175 Posts
    • 15,819 Thanks
    worried jim
    • #9
    • 22nd Jan 11, 4:05 PM
    • #9
    • 22nd Jan 11, 4:05 PM
    Did my renewal this morning after getting my renewal thru for 302, I only paid 220 last year and after a phonecall to them I've got the same cover for 211 which is even less than last year.
    Rev Henry- you are all right in my book fella.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • luci
    • By luci 22nd Jan 11, 4:48 PM
    • 5,812 Posts
    • 4,587 Thanks
    luci
    Got the renewal through for both cars and it has only gone up 10 each which is less than 5%. We were new customers last year and I thought it would be a lot more expensive this year and we wouldn't have the introductory bonus.
  • mikey72
    Got the renewal through for both cars and it has only gone up 10 each which is less than 5%. We were new customers last year and I thought it would be a lot more expensive this year and we wouldn't have the introductory bonus.
    Originally posted by luci
    Who's the company?
    The bonus is a myth anyway, usually you just get stung on renewal, it normally pays to at least phone them and ask for a better price, or even better shop around.
  • mikey72
    Did my renewal this morning after getting my renewal thru for 302, I only paid 220 last year and after a phonecall to them I've got the same cover for 211 which is even less than last year.
    Rev Henry- you are all right in my book fella.
    Originally posted by worried jim
    Who are they?
  • Quote
    I beg your pardon?
    Originally posted by rev_henry
    I suggest you read it again.
    • worried jim
    • By worried jim 22nd Jan 11, 6:56 PM
    • 10,175 Posts
    • 15,819 Thanks
    worried jim
    Who are they?
    Originally posted by mikey72
    Admiral/Elephant, second year on the trot I've called and been impressed with there service and prices. In fact this means that I have now been with the same company for three years on the trot and I have never previously renewed a policy in 18 years of motoring.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
  • mikey72
    Admiral/Elephant, second year on the trot I've called and been impressed with there service and prices. In fact this means that I have now been with the same company for three years on the trot and I have never previously renewed a policy in 18 years of motoring.
    Originally posted by worried jim
    Admiral were one of the few I stayed with for 2 years. Similar sort of price to yours, with a similar 50% increase they then dropped. Third year they couldn't match though, shopping round I still only paid 200.
    • rev_henry
    • By rev_henry 22nd Jan 11, 7:41 PM
    • 4,875 Posts
    • 2,065 Thanks
    rev_henry
    I'm with Admiral as well. For the second year runnning now. Had a similar experience on renewal last month as you jim. They seem to be the only reasonably priced company for my risk profile; if they went bust now I probably wouldn't be able to afford insurance.
    • luci
    • By luci 22nd Jan 11, 8:12 PM
    • 5,812 Posts
    • 4,587 Thanks
    luci
    Who's the company?
    The bonus is a myth anyway, usually you just get stung on renewal, it normally pays to at least phone them and ask for a better price, or even better shop around.
    Originally posted by mikey72
    That's with Co-operative Insurance.

    I haven't accepted the renewals. I'll still be shopping around and checking the cashback site then calling to see if they will improve on the quote.
    • dunstonh
    • By dunstonh 22nd Jan 11, 8:45 PM
    • 98,247 Posts
    • 66,454 Thanks
    dunstonh
    That's with Co-operative Insurance.

    I haven't accepted the renewals. I'll still be shopping around and checking the cashback site then calling to see if they will improve on the quote.
    Originally posted by luci
    Tell CIS that the money they pay the Labour party is better off used to reduce your premiums.

    I avoid co-op group companies as they break one of my few financial ethical requirements.
    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.
    • worried jim
    • By worried jim 22nd Jan 11, 9:29 PM
    • 10,175 Posts
    • 15,819 Thanks
    worried jim
    Tell CIS that the money they pay the Labour party is better off used to reduce your premiums.

    I avoid co-op group companies as they break one of my few financial ethical requirements.
    Originally posted by dunstonh
    Is that contributing to a political party? I can see how that may influence customers, I am a member of a non affiliated trades union for the same reason.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • dunstonh
    • By dunstonh 22nd Jan 11, 10:05 PM
    • 98,247 Posts
    • 66,454 Thanks
    dunstonh
    Is that contributing to a political party? I can see how that may influence customers, I am a member of a non affiliated trades union for the same reason.
    Originally posted by worried jim
    Yes, they contribute to the Labour party and affiliates.

    Personally, I don't like that. Also, like you, back in my employed days, I would not use a union that had similar links.

    Also, I think it makes a mockery of their "ethical" stance when they make contributions to a political party, irrespective of your own personal political preference.
    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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