Has your insurance gone up?

[Inspectorclueso]

Just going through renewals on a Disco 5 and M4...both have gone up significantly despite my shopping around. We did have a vehicle stolen in January and obviously had to claim. I've not had this happen before, so I'm trying to figure whether this is the cause of the increase, or policies have gone up in general ? I'm talking c.40% increase on both policies.

Any views appreciated.

[Earthdweller]

Just had a renewal come through for my Z4 and it’s gone down £40 from last year

[Ninja59]

OP insured with Admiral?

[Dingu]

Claims costs are through the roof, that is going to affect prices. Direct line reported losses on their motor insurance of c.£77m today after not rising prices fast enough and getting caught out with higher claims frequency.

[Lotobear]

Mine went down significantly - despite making a no fault claim against an uninsured driver who went into the back of me and wanted to pay 'off the record' but then reneged

Mrs Loto's Audi TT, my Allroad and my Elise 111s £402 on a group policy. It was £629 last year.

L&V - brilliant service as well.

[yellowbentines]

Dingu said:

Claims costs are through the roof, that is going to affect prices. Direct line reported losses on their motor insurance of c.£77m today after not rising prices fast enough and getting caught out with higher claims frequency.

I'm with direct line and my renewal is due this month - paid £520 last year, renewal quote is a firm £792, no changes or claims.

Can't beat last year's premium anywhere, but I can get within 10% which will have to do.

[hungry_hog]

I insured a C63s saloon with admiral about 14 months ago for 800GBP which was pretty good (parked on street in London)

This year the quote was 2300! They offered to take off 200 after 30 mins of arguing so I ended up with Aviva for 1000.

the F80 I had before was much more expensive to insure (1500), presumably they are more stolen / appeal more to the rude boys

[Sheepshanks]

Wife's Tiguan with LV= auto-renewed last month and dropped 25%, roughly £275 from £350.

But, after years of hovering around £250 it had jumped last year - initial renewal was well into the £400's - they told me to get a requote for a new policy and that produced the £350 price.

[Scrump]

Gone down or stayed the same for my cars.

[200Plus Club]

My multi car with Admiral went up £180 for 3 cars without any reason. During the call to cancel auto renewal, "Natasha" managed to scrub 170 quid off the quote and got me back to where I started.
Auto renewals and price creeping are insidious and need to stop!
I'll go elsewhere next time as 3 online quotes only took 20mins to be fair, it's just the convenience factor.
Also to note, it's more expensive insurance if you garage the car as mentioned on PH before, 30 quid more than on the drive.

[Shnozz]

Dingu said:

Claims costs are through the roof, that is going to affect prices. Direct line reported losses on their motor insurance of c.£77m today after not rising prices fast enough and getting caught out with higher claims frequency.

Inflation costs are hitting insurers too.

Every claim cost is rising. Buildings, Business interruption, personal injury loss of earnings/future loss. Every aspect is subject to inflation. Premiums need to reflect those uplifts.

Added to that it’s a hard market in insurance right now. Not many players or newcomers willing to gamble cheaply to secure market share so premiums are not going to be offered cheaply at a loss.

[ChocolateFrog]

Admiral put my renewal up 67%.

Shopped around and got it for -3% so no mine hasn't gone up despite their best efforts.

[rotarygoth]

The insurance renewal on my F82 M4 went up by well over 50% from £480 to £750! I shopped around and got it for £560 in the end. Full NCB, but parked on the road.

[ChocolateFrog]

I see it's a thing with Admiral then?

Did they go on a customer recruitment drive last year or something and are now in the process of raping those same customers. I guess they can calculate the percentage that won't leave despite the massive increases.

[Ninja59]

ChocolateFrog said:

I see it's a thing with Admiral then?

Did they go on a customer recruitment drive last year or something and are now in the process of raping those same customers. I guess they can calculate the percentage that won't leave despite the massive increases.

If it is admiral it is across the board, everyone is reporting insane 50% plus increases.

Don't get me wrong I have seen others increase but not by near as much. Be interesting to see mine next month which is not admiral. But that has been a common theme when someone has reported huge increases.

[MarkJS]

I renewed the 440i insurance at the weekend with the same insurer which has risen by £8 for the year. I do normally call the broker to haggle and they often waive their admin fee but couldn’t be bothered this time.

[Inspectorclueso]

Ninja59 said:

OP insured with Admiral?

The M4 was with AXA, gone from £670 to £970 and that's before I let them know about the theft - not the M4, was my wifes discovery but as she was on my second policy of course I have to declare it here as well. THe best quote I have had with all details correct is £1050.

The Discovery (we now have another) has gone £610 to £1050. Was LV now Swiftcover.

So the two combined have gone from c.£1250 to £2100.

[JRFrench]

Admiral last year was £630, renewal came through at £970 despite no changes. Ended up going with Sheila’s for £750 in the end this time.

Same nonsense every year, lost count the amount of times I’ve switched between insurers part of the same group (Esure, Admiral, Elephant, Bell etc).

[Shnozz]

Dingu said:

Claims costs are through the roof, that is going to affect prices. Direct line reported losses on their motor insurance of c.£77m today after not rising prices fast enough and getting caught out with higher claims frequency.

Inflation costs are hitting insurers too.

Every claim cost is rising. Buildings, Business interruption, personal injury loss of earnings/future loss. Every aspect is subject to inflation. Premiums need to reflect those uplifts.

Added to that it’s a hard market in insurance right now. Not many players or newcomers willing to gamble cheaply to secure market share so premiums are not going to be offered cheaply at a loss.

[LastPoster]

Insurance for my 330i went from £400ish to £450, called Tesco Insurance up as I needed to change some details as well. Removed my wife from the policy and changed my marital status to Widowed. I declined their kind offer of a revised figure of £490 and went to Aviva at £425

Th woman on the end of the phone couldn’t have been more embarrassed, but she doesn’t set the policies