Money worries

[Disorganisedmess2023]

I had my car insurance renewal document emailed to me this morning and it's tipped me over the edge. It has more than doubled from last year. I've been driving about 25 years and have NEVER claimed from insurance apart from one windscreen chip repair (and that was about 5 years ago!). I've spent the morning shopping around for quotes but the cheapest I can get is still 25% more than last year. My car is at the cheap end, I need it for work, it's not particularly old or particularly new so no reason at all to double insurance quote. It kills me. I've had a 2% pay rise this year and yet EVERYTHING is going up way more than this. How can this go on? I honest just want to curl into a ball and cease to exist.

I know I'm luckier than most. I have a job, a car, food on my table and a roof over my head but I'm not sure how long I can feel lucky with what feels like the bare minimum. I'm getting on a bit, have no savings so life will just get even harder and I dread to think about retirement (although that won't be for 20 years or so). I'm looking for better paid work but to be honest, nothing I'll get will be massively well paid. I'm just so low and there's bugger all I can do about it.

I want to scream at these companies who are raising prices way, way, way over inflation. This profiteering is making life so unaffordable for so many people.

And I just want to say I am absolutely not asking for anything. I just needed to rant.

Just me then

Same here , ours has almost doubled and we haven't had a claim for years etc.
Dh did manage to get it down a bit by looking on line , but it's still 200 more than last year.
There was an insurance man on the tv saying it's the cost of repairs and parts , but they have an excess attached to any claims, so it is win win for them most of the time
Like you we were raging, after years of making people reliant on cars it seems they now want us out of them.

Not just you mine has gone up about 25% after shopping around. It seems never ending.

Martin Lewis has been talking about this, this week. Insurance for anything and everything has gone up.

Check quotes from other insurers, particularly with your house insurer if they also do car insurance.

It's because the price of 2nd hand cars is through the roof as are crime rates. You may not have moved or changed cars but check online to see if the crime stats for your area have changed. Mix it all up and you've got obscene insurance prices.

Mines gone from £200 to £325.

Annoying.

Our buildings insurance also went up by another twenty pounds from last year too
I did a check online and that was the cheapest , so at least renewing with the same people isn't anymore money , which did surprise me!
It's still another twenty pounds to find though

I just don't see how this continues to be doable. Wages just can't keep up with this constant stream of profiteering. How can people survive?

We won't. A big economic crash, war (and the rise of the left or right) and famine are on their way imminently.

I absolutely hear you.

I've been driving since I was 17, full no claims history of over 30 years! Car insurance is usually around the £270 mark. Just renewed for £600 and yes, it was the absolute cheapest quote.

As you say, in addition to everything else going up, it's unsustainable.

Council tax went up £20 a month, gas/elec up £70 a month, water up £15 a month, mortgage came off fixed and went up £450 (!) a month.

My wage hasn't gone up at all.

My DH insurer refused to let him renew with them this year, no reason why and nothing has changed for him (car, points etc) apparently this is also becoming a thing where they just won't let you renew if your car is an expensive one to repair or you've made claims in the past (Martin Lewis)