Why is my car insurance so expensive?

[MotivationalEater]

Over 15 years without an accident and I'm being quoted nearly £1k for a year's insurance!! Why? I've not moved, I've not changed my car, the crime rate hasn't changed, how is this justified?

It's not just you. It's all car insurance. Best thing to do is get on a price comparison website

I have and these are the best prices it's coming back with! What's the justification for such massive increases for everyone?

My insurance with LV doubled to £1880 for this years renewal. I had a claim in 2022 where someone smashed into my car in a car park and didn't leave any details so its down as a no fault claim and they have to recoup the money (£3750 plus car hire) from somewhere (apparently!). Shopped around - most places around the £900 mark but found one for £680 with Allianz who are owned by ----LV! Its so bloody ridiculous.

Have you called your insurance company?

I got a letter from mine saying it was going to increase - almost double - and so I went onto a comparison site and none of the 53 offers were any cheaper!!!

So I then phoned my insurance company and asked them why it was increasing so much and that I think I was going to have to shop around.

They produced a new figure. Still higher than original but better.

Several reasons.

• more cars on the road than before the pandemic therefore more accidents and more claims adding to insurers' costs
• increased cost of parts and labour, and vehicles, due to inflation, so it costs insurers more to repair or replace cars
• cars now have more expensive technology and equipment, so again, they're more costly to repair and replace

The cost of insuring the average car this year is £941 according to confused.com