Car insurance hike - is this just the norm now?

[Whateveryouwant1]

Ok I get it everything is going up and we're all paying more for everything but I got my car insurance renewal through and it's gone up by 50%!!
Im older, got years and years of driving experience and no claims, loyal customer with other policies with the same company. Nothing has changed, nothing apart from another years no claims.
Company will not budge AT ALL on the renewal price.
Anyone else seeing the same? Aibu to think insurance companies are just jumping on the bandwagon? 😖

We saved loads using MSE website for comparisons. Best quotes are given 23days before renewal.

I've just renewed mine and it has gone up by £16. I couldn't get anything cheaper on any of the comparison websites. That's with Aviva.

My renewal came through today and it’s gone up £12 a year, monthly cost is £20.99 which I’m fine with.

I've just renewed and mine only went up by £30 🤷🏻‍♀️ the cheapest on the price comparison site was only £10 cheaper than my renewal price so I did t see the point in the hassle of changing for a tenner!

Some of the bigger companies can afford to take the hit on reducing their prices to grow their volume, others can't. They may well be selling at a loss right now.

I've just been dealing with my renewal (due in August). In spite of 10 years NCB, it went up from £394 to £623. WTF? I used a price comparison site and found one at £563 - but there were plenty of quotes going up to as much as £1200.

Mine went from about £130 a year last year to £280 this year. Ive got a fiat 500 which does about 5000 miles a year, no commuting. Absolute joke. This was the lowest price I could get.

I always take the auto renewal off any car insurance, it seems to make a difference in renewal quotes.

I've just had the same, mine went from £330 to £522 shopped around and chose AA for £358. I am so sick of all the hikes. It's as if we all have a magic money tree like the MPs.

I'm in Birmingham and my renewal quote doubled and then some. I lost what felt like years of my life on comparison sites and phoning brokers and managed to get it a bit cheaper but still paying almost double than last year. I'm still not over it 3 months down the line. Everytime I get a notification of that bill going out each month I'm seething

Presumably this will be due to the government's policy of increasing interest rates - the purpose being to make everyone poorer in order to resrict consumer spending. This is a deliberate decision by Rishi Sunak. (And it won't work).

Renewal quote this week was 40% higher.

It's a real punch in the face and totally feels like a piss take. It does seem a little coincidental that my insurance companies profit halved at the beginning of this year and that they have increased my premium, and lots of others, by 50% hummm......

Apparently its because parts for cars being repaired are much more expensive and harder to source so we are all being charged a hell of a lot more 'just in case' we need insurance. Add to that the insurance Premium Tax which will soon be the same rate as VAT and yet again, the consumer is screwed over. I had someone smash my unoccupied and perfectly legally parked car in a car park last October and drive off - its down on my policy as my fault because they couldn't claim off another party 🤬🤬

I got a quote for insurance at £306, waited less than two weeks before going back to buy it (trying to sell the car, so wasn't sure if I'd need it), then the quote was no longer valid and the cheapest was £354. Fifty quid in the space of a week!

Mine went from £180 to £220 and I thought that was a lot.

Mine was about £220 in June this year which is what it's been more or less for the last few years.

I do use a specialist insurance company as most won't cover my 2L modified MX-5.

Yes happened to me too, £200 more, no claims, same car as last year.

Mine has gone from £350 to £430, I shopped around and this was the cheapest, same as many others, in my 40's, driving for 20+ years, no claims etc etc

Mine went up 36% this year and they wouldn’t budge despite three calls,

I tried the price comparison sites and nothing cheaper.

BUT

Strangely when I was online looking at my quote and trying to work out how to reduce the price, I adjusted the Excess on the policy. It didn’t make a difference to the premium whether I had a zero voluntary excess or £1,000 excess. I even phoned to check that wasn’t a blip. So now I have a Policy costing me 36% more but with my voluntary excess reduced from £500 to zero.

You always need to change companies, my renewal went up by £30 to £150 but by switching companies and using quidco to get some cashback just renewed yesterday for £110. I'm 40 and have a 10 year old polo hence not very much to start with.

Some of the bigger companies can afford to take the hit on reducing their prices to grow their volume, others can't. They may well be selling at a loss right now.

True, but that would only make good business sense if they didn't then drive those hard-won new customers away from the second year, by exploiting their perceived loyalty and ramping the prices sky-high - even more than their competitors in what is already an expensive market. Reasonable step-increases might work, but they seem determined to kill the golden goose.

I'd understand it more if we were still in pre-internet times, when people would receive a renewal letter in the post, many probably couldn't even remember what they paid last year (no legal requirement to tell you back then), and then renew with a sigh, without seeing much alternative. How do they still get away with this now you can spend 2 minutes on a comparison site and see how much you could get the cover from 70 other companies for?

I had a claim in 2021 as I was hit by an uninsured driver who left the scene, my car insurance dropped by half. I've only been driving since 2019, I have 3 years no claims (I swapped insurers mid year once due to moving house) and I upped my mileage from 3k to 10k this covers both me and my husband driving. Only change is we recently changed to homeowners, but I don't know if that affects things.

For those worried about their price going up with the claim, mine was actually marginally lower due to my protected no claims meaning I had a years more NCD.

No. Mine has come down £12 per month

I did a comparison site and existing insurer ( household name) matched it.

Never, ever accept the renewal price. Get yourself on compare the market and create an account, they will save your details, so you'll only have to edit it if you move or change car. It really doesn't take that long.
I change insurance companies every year, sod loyalty. It really doesn't matter if you haven't heard of them, as long as they're a legitimate company, (check their reviews), then you'll be fine; I've never had a problem and I've been insured with various strange sounding outfits over the years.
I'm late 40's with maximum no claims and my renewal was £420. Went on CTM and got the same level of cover for £245, all done and dusted in half an hour. I don't bother ringing up and trying to get my current insurer to match prices either - if they want the business then they can give me a decent, honest price on renewal, not magically reduce it because I'm threatening to leave.