Car insurance cost rocketed

Newyearmadness · 01/01/2023 22:20

Mine increased by around £15 pm until I phoned them and pleaded poverty. I always phone and they always get it down for me. I just threaten and say I'll have to leave and go with another company otherwise as I can't afford the increase. Try that.

Weekenders · 01/01/2023 22:49

The price does go up closer to the renewal date, but that won't have affected the renewal offer you got from your existing insurer.

Mine was similar to yours last year and went up by about a 5er on the renewal, which I couldn't bear on comparison sites so let it auto renew.

SavoirFlair · 01/01/2023 22:56

That’s “rocketed”??

YABU, what is this even doing on this board

2chocolateoranges · 01/01/2023 22:58

Yip ours went up nearly £100 a year, I contacted them and got it down in price.

Paying 15 more than last year.

always contact them as they will give it lower even if it’s only a 10% loyalty discount.

ivykaty44 · 01/01/2023 22:59

The insurance company will have more people fitting your profile, so the price will increase & you will either pay above the odds or go elsewhere

its statistical as it’s a gamble and you wouldn’t want all your customers to be the same profile, 22 year old males wouldn’t be a good bet

helloisitmeyourelookingfor · 01/01/2023 22:59

Mine went up £450 because my car was stolen in the last year so it cost me £250 excess at the time and an extra £450 at renewal

Do I win?

RandomMess · 01/01/2023 23:00

A 50% increase is "rocketing" DDs renewal was horrific, managed to reduce due to a change on her employment and all of mine as I could evidence cheaper quotes.

CornishGem1975 · 01/01/2023 23:00

It can also be because of your postcode. If a number of have claims have been made, it will be reflected in your premiums.

CoffeeBoy · 01/01/2023 23:02

Not unusual for a renewal. You’ll find cheaper when you shop about.

HundredMilesAnHour · 01/01/2023 23:02

Mine actually went down by £80 but I pay significantly more than the OP. I'm with LV=

WarningToTheCurious · 01/01/2023 23:04

Yes, mine went up by about £50 (from £250). I did shop around and could have got it down a bit by going with higher excesses / less well known (and lower Defaqto rated) companies. I probably should have rung them and asked what they could do for me as that usually knocks a bit off.

As an aside, I always got the stupidly inflated AA renewal price down by half by ringing them up and asking why they had doubled the price when I hadn’t had a call out. Finally ditched them when I got the aggressive bloke who shouted at me and tried to excuse that as being “passionate about the AA”.

Identifyingasadolphin · 01/01/2023 23:09

I have learnt to ring my existing provider when the paper renewal offer comes through, the advisors answering the phone get a commission, they are always keen to do a better deal to get the business while I am on the phone.

Also sometimes I do a dummy run for a new policy with the existing supplier first - if cheaper, it helps with the telephone dialogue.

Original poster

christmasfairy22 · 02/01/2023 00:07

CoffeeBoy · 01/01/2023 23:02

Not unusual for a renewal. You’ll find cheaper when you shop about.

Sorry this wasn't my renewal price (that was £200 on top of last year).

But even price comparison sites are 50% more this year. I know inflation is between 10%-20% so trying to understand why the large increase.

I don't think it's crime in my area (very safe boring area, nothing reported in the very active neighbourhood watch whattapp group).

OP posts:

Original poster

christmasfairy22 · 02/01/2023 00:08

So to clarify - this is not the renewal price (which was much higher) it's the shopping around price.

OP posts:

Original poster

christmasfairy22 · 02/01/2023 00:10

It is because I have two jobs? Neither of which follow into the bonkers job categories they have on the drop-downs?

OP posts:

MsWarrensProfession · 02/01/2023 00:15

I suspect the answer is that your price last year was so cheap precisely because you're good at shopping around. In the past people who did that got a better deal as new customers at the expense of customers who stuck with the same providers each year. You probably found an insurer who wanted to increase their share of your demographic and was prepared to offer a cutthroat price to get your custom.

That practice was outlawed this year, so in theory switching to a new insurer each year won't get you the cheap deals it used to.

Yoloohno · 02/01/2023 00:16

Isn’t that about right, it’s about what I pay for a 3 year old corsa. 40 something, 10 plus year nab in a nice area.

bloodyeverlastinghell · 02/01/2023 00:23

I think in terms of percentage increase it is a rocketing price. It’s definitely cheaper to get car insurance a week or so before it’s needed but insurers do take the piss. I had the same with buildings insurance, no claims so should be the same or there about. Over 60% increase. I changed insurers it was a bit less than I had been paying.

Pixiedust1234 · 02/01/2023 00:49

Was it because I only have a few days to renew

That's your answer. Those who wait until the last week are thought (by insurers) to be risk takers/gamblers which means they aren't safe drivers and more likely to have an accident, therefore the premiums will go up. If you had done the comparisons three weeks before renewal it would have been a lot less. Its been talked about on one of those consumer programmes like Rip Off Britain or Watchdog.

Original poster

christmasfairy22 · 02/01/2023 01:08

Pixiedust1234 · 02/01/2023 00:49

Was it because I only have a few days to renew

That's your answer. Those who wait until the last week are thought (by insurers) to be risk takers/gamblers which means they aren't safe drivers and more likely to have an accident, therefore the premiums will go up. If you had done the comparisons three weeks before renewal it would have been a lot less. Its been talked about on one of those consumer programmes like Rip Off Britain or Watchdog.

That's so annoying, because the real reason its Christmas and I'm busy in the run-up to Christmas whereas now I'm off work and Christmas is done and dusted so I can do some admin 😤

OP posts:

BlueDot6 · 02/01/2023 01:10

christmasfairy22 · 01/01/2023 22:18

Such a boring one, sorry!
My quote last year was £215 (ok, that was very low) and this year it's £330, using the comparison sites as I always do every year.
Absolutely nothing changed about my circumstances, 1 year older (40s), 1 year more NC and experienced and the car is one year older.

Has anyone else noticed theirs increasing?
Was it because I only have a few days to renew and so they think I won't shop around?

Yes I said the same thing on here a few months ago. Nothing has changed for us, the cost should have gone down but instead it’s gone massively up!

BlueDot6 · 02/01/2023 01:11

Pixiedust1234 · 02/01/2023 00:49

Was it because I only have a few days to renew

That's your answer. Those who wait until the last week are thought (by insurers) to be risk takers/gamblers which means they aren't safe drivers and more likely to have an accident, therefore the premiums will go up. If you had done the comparisons three weeks before renewal it would have been a lot less. Its been talked about on one of those consumer programmes like Rip Off Britain or Watchdog.

I did ours 3-4 weeks before renewal and the prices were much higher so this doesn’t ring true for us.

Pixiedust1234 · 02/01/2023 01:12

I agree. They really are robbing bleepheads. I now make any insurance renewals a priority over everything since I watched that programme.

bananamum13 · 02/01/2023 01:19

Crumbs - what car are you driving?
My insurance for my Golf R32 is only £330, with full no claims (also 40's)
Yes it has increased, but my new car has x3 bigger engine, as absolutely amazing!

alwaysthesameonthesethreads · 02/01/2023 01:26

blimey op, you think yours has gone up....mind went up from 445 to 850 all because earlier in the year i was honest and phone them to tell them about a twat driving into me me when my car was stationary in a traffic jam. no claim was made as they paid but i knew legally you are still supposed to tell your car insurance. Unbelievable. I did nothing wrong and yet i now have to pay double what i used to because of a know lorry driver crawling far too close behind me pissed off in a traffic jam. The few people i spoke to at different insurance companies indirectly agreed with me that the system is wrong (as i hadn't caused the accident or made a claim) but that is just the way it is. Daylight robbery imop. I ended up moving to a different insurance place and got it down to i think 712 but still way off 445 which is what it was. Never been in an accident that i've caused, never made a claim and yet for the next 5 years i have to carry this around