MSE News: Record leap in car insurance costs

24

Comments

  • mikey72
    mikey72 Posts: 14,680 Forumite
    worried_jim wrote: »
    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.

    Who are they?
  • Quote
    Quote Posts: 8,042 Forumite
    rev_henry wrote: »
    I beg your pardon?
    I suggest you read it again.
  • worried_jim
    worried_jim Posts: 11,631 Forumite
    Combo Breaker First Post
    mikey72 wrote: »
    Who are they?

    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.
  • mikey72
    mikey72 Posts: 14,680 Forumite
    worried_jim wrote: »
    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.

    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
    rev_henry Posts: 4,959 Forumite
    First Post First Anniversary Combo Breaker
    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
    luci Posts: 5,958 Forumite
    First Anniversary First Post
    mikey72 wrote: »
    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.

    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
    dunstonh Posts: 116,342 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    luci wrote: »
    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.

    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). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. 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
    worried_jim Posts: 11,631 Forumite
    Combo Breaker First Post
    dunstonh wrote: »
    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.

    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.
  • dunstonh
    dunstonh Posts: 116,342 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    worried_jim wrote: »
    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.

    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). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • property.advert
    property.advert Posts: 4,086 Forumite
    First Post First Anniversary Combo Breaker
    worried_jim wrote: »
    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.

    I don't see how they can move away from this business model which relies on apathy. Perhaps in a generation or so but for now, they just upset their customers by blatantly trying to rip them off.
This discussion has been closed.
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