Insurance premiums dropping?
Discussion
Think my renewal quote on the BMW 340i was a bit lower than previous but I was still paying over the odds. Managed to get a new deal of £290.66 fully comp with decent legal cover, etc. Happy with that as it's probably the lowest I've ever paid for insurance.
My understanding was always that insurance companies give you a decent initial quote to get you on board and then increase it for renewal time hoping you can't be bothered with the hassle of changing. That's why a lot of these companies say they can beat your renewal quote (but don't say they can beat any quote!)
Seems to break the theory if we're all getting lower renewals.
My understanding was always that insurance companies give you a decent initial quote to get you on board and then increase it for renewal time hoping you can't be bothered with the hassle of changing. That's why a lot of these companies say they can beat your renewal quote (but don't say they can beat any quote!)
Seems to break the theory if we're all getting lower renewals.
Panamera fell by 20% with same insurer and was cheaper than anything the Meerkats could find, which was nice.
Also noticed earlier this year that the Meerkats will search for classic policies too, and more companies are getting involved. Got the 911 with Co-op now for a 75% reduction on previous year with Adrian Flux.
At least something is getting cheaper.
Also noticed earlier this year that the Meerkats will search for classic policies too, and more companies are getting involved. Got the 911 with Co-op now for a 75% reduction on previous year with Adrian Flux.
At least something is getting cheaper.
£500 part exchange to clear Chevrolet Cruze saloon (1.6 petrol) on the eBay classifieds
2021/22 - £532 total instalments (Esure)
2022/23 - £433.09 (Admiral)
Car then off the road and uninsured for a while.
2024/25 - £519.96 (Esure Flex)
2025/26 - £313.96 (Sheila's Wheels)
Apart from in 2021, I've paid the premiums in full to save further.
My mileage isn't more than a thousand or so per year for someone in Leeds and I'm late 30s, with something like 4 years' NCB. I'm often abroad, so the car is used whenever I'm back in the UK.
There tends to be a bit of jiggery-pockery ahead of renewal, with things like excesses and courtesy cars / breakdown cover usually left out altogether.
I believe my premium went up for the 2024/25 policy because I was taking the policy out for immediate use, rather than purchasing it in advance. Consider it an additional cost for urgency.
The realisation really occurred this year when the same almost happened again: I used Money Supernarket for the usual shopping around at least 30 days in advance of the policy's expiration.
The cheapest I was quoted £313.96.
That quote was e-mailed to me along with others of a similar bracket, but I put it and renewal on the back burner until the last 48 hours or so, so when I went back onto Money Supermarket, I could not retrieve those quotes and they were all replaced by updated quotes, pushing things up by at least £100.
Fortunately I was able to use the quote number from the quote e-mails I had been sent to then call up the insurer and purchase the £313 policy over the telephone. I'm sure they're supposed to be valid for 30 days or so, which made the price comparison discrepancy seem a bit scandalous.
Lessons I learned are to:
1. shop around in advance (there are differences in cost IME when you input various policy start dates),
2. purchase or at least secure a policy in advance, in case you do have to do it at the last minute but don't want to be penalised for doing so and
3. save quotes and quote number details before they are lost or irretrievable on the price comparison website you first got it from.
2021/22 - £532 total instalments (Esure)
2022/23 - £433.09 (Admiral)
Car then off the road and uninsured for a while.
2024/25 - £519.96 (Esure Flex)
2025/26 - £313.96 (Sheila's Wheels)
Apart from in 2021, I've paid the premiums in full to save further.
My mileage isn't more than a thousand or so per year for someone in Leeds and I'm late 30s, with something like 4 years' NCB. I'm often abroad, so the car is used whenever I'm back in the UK.
There tends to be a bit of jiggery-pockery ahead of renewal, with things like excesses and courtesy cars / breakdown cover usually left out altogether.
I believe my premium went up for the 2024/25 policy because I was taking the policy out for immediate use, rather than purchasing it in advance. Consider it an additional cost for urgency.
The realisation really occurred this year when the same almost happened again: I used Money Supernarket for the usual shopping around at least 30 days in advance of the policy's expiration.
The cheapest I was quoted £313.96.
That quote was e-mailed to me along with others of a similar bracket, but I put it and renewal on the back burner until the last 48 hours or so, so when I went back onto Money Supermarket, I could not retrieve those quotes and they were all replaced by updated quotes, pushing things up by at least £100.
Fortunately I was able to use the quote number from the quote e-mails I had been sent to then call up the insurer and purchase the £313 policy over the telephone. I'm sure they're supposed to be valid for 30 days or so, which made the price comparison discrepancy seem a bit scandalous.
Lessons I learned are to:
1. shop around in advance (there are differences in cost IME when you input various policy start dates),
2. purchase or at least secure a policy in advance, in case you do have to do it at the last minute but don't want to be penalised for doing so and
3. save quotes and quote number details before they are lost or irretrievable on the price comparison website you first got it from.
catso said:
Lotobear said:
Just had my renewal quote back from LV - multicar policy Audi A6 Allroad and Wifeys TT.
Last year £885, this year £592 - includes breakdown cover.
I'm happy wth that - anyone else noticed a trend?
It means you're getting old... Last year £885, this year £592 - includes breakdown cover.
I'm happy wth that - anyone else noticed a trend?
They only seem to be dropping if you change insurer!
In April my renewal for my BMW 330i was £285, but I accepted a quote elsewhere for less than £210. Why can't insurers just offer sensible renewals?
It's a PITA having to trawl comparison sites every year for car insurance, house insurance, breakdown cover, etc.
In April my renewal for my BMW 330i was £285, but I accepted a quote elsewhere for less than £210. Why can't insurers just offer sensible renewals?
It's a PITA having to trawl comparison sites every year for car insurance, house insurance, breakdown cover, etc.
Im paying silly amounts for a Tesla model 3 despite being nearly 50 and full no claims bonus with no claims or convictions,(£800) I do how ever have a neighbour whose quite recent insurance claim has probably gone into serveral million of pounds, would this be the reason for my high premium as we share the same post code?? I remember years ago reading that your postcode makes a difference and if other folk have claimed nearby. Another neighbour also said that his insurance has rocketed in recent years too.
Mr Tidy said:
They only seem to be dropping if you change insurer!
In April my renewal for my BMW 330i was £285, but I accepted a quote elsewhere for less than £210. Why can't insurers just offer sensible renewals?
It's a PITA having to trawl comparison sites every year for car insurance, house insurance, breakdown cover, etc.
My wife's car (mini cooper D) dropped by a third this year keeping with the same insurer (Tesco). No other changes.....In April my renewal for my BMW 330i was £285, but I accepted a quote elsewhere for less than £210. Why can't insurers just offer sensible renewals?
It's a PITA having to trawl comparison sites every year for car insurance, house insurance, breakdown cover, etc.
Mr Tidy said:
They only seem to be dropping if you change insurer!
In April my renewal for my BMW 330i was £285, but I accepted a quote elsewhere for less than £210. Why can't insurers just offer sensible renewals?
As I've said many times on here, in the UK we've been so spoilt by stupidly low premiums that we've lost all sense of perspective. In April my renewal for my BMW 330i was £285, but I accepted a quote elsewhere for less than £210. Why can't insurers just offer sensible renewals?
You claim £285 for a BMW 330i isn't a sensible renewal. Well you're kind of right, it isn't. It's a bloody crazy low premium. Unlimited tp injury, £50m tp property damage, plus your own car covered, for about half the price of a replacement wing mirror. Just mental. In Germany, even in your 60s living in a rural area, you'd pay over 1000 for that.
But having got that bonkers premium, another insurer was willing to undercut it and offer a more bonkers price.
And then people moan about poor service. Well yes, you can't offer those premiums and employ experienced staff on decent money. Or offer a high quality training program for the school leavers you employ.
Not happened to me, in fact lately it has been the opposite for the first time in my life. Now 63.
My Abarth 695 insured with a company I had been with for decades jumped from £400 to £950. No change in circumstances.
Got a quote elsewhere for £330. Moved on to an Alpine A110 and it went up to £400, fair enough for a £50k car and a 4.5 0 to 60mph.
The Alpine got changed for a Bigster, so worth a lot less and a 0 to 60mph of anytime you are ready
Cheapest quote £500!!
The Duster that I had up to 2024 was only £250.
Same problems with my motorbike, massive increases in premiums despite another year of no claims.
My Abarth 695 insured with a company I had been with for decades jumped from £400 to £950. No change in circumstances.
Got a quote elsewhere for £330. Moved on to an Alpine A110 and it went up to £400, fair enough for a £50k car and a 4.5 0 to 60mph.
The Alpine got changed for a Bigster, so worth a lot less and a 0 to 60mph of anytime you are ready
Cheapest quote £500!!
The Duster that I had up to 2024 was only £250.
Same problems with my motorbike, massive increases in premiums despite another year of no claims.
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