liner33 Posted April 10, 2016 Report Share Posted April 10, 2016 We paid £302 the first year with the car being brand new and adding a little for key protection think it was £25 , that was with Toyota but they wanted £383 this year so we switched to Aviva and it dropped to £267 I've just checked my Skoda Octavia on compare the market and I renewed earlier this year (Jan 16) and thats dropped significantly, I assume as the car is over 1 year old , so perhaps its your area ? Quote Link to comment Share on other sites More sharing options...
Rich Posted April 10, 2016 Author Report Share Posted April 10, 2016 We've got our insurance in June but getting quotes for various new cars for the Civic's replacement is showing prices have increased a little. I've not done any quotes for the Accord. The MX5 is on a classic policy and needs renewing in July. I'm hoping it stays at £250 or drops! Quote Link to comment Share on other sites More sharing options...
parthiban Posted April 11, 2016 Report Share Posted April 11, 2016 I'm ok with the Ferrari premium going up slightly as it's much more valuable than it was last year (although £800 to just under £1200 still seems like too much of a jump!) but the Lexus has gone from £460 to £550! Considering it's practically worthless and I can't imagine it's suddenly a higher risk that just makes no sense. And it's a similar story with the Merc. Annoyingly even with all these prices rises no one else will even get close to the Admiral prices, the next cheapest quote I can find on the 360 is almost £2.5k! Quote Link to comment Share on other sites More sharing options...
Sagitar Posted April 12, 2016 Report Share Posted April 12, 2016 Finally committed myself this morning, after much fruitless searching. I paid £319.97 compared with £276.59 last year. i.e. just over 15% extra. (for the same cover). It's still a lot more than the industry average of +7% which is being bruited in the insurance media but a good deal better than the 25% extra for which I was originally asked. Given my low mileage, that's more than 9p a mile for insurance. There is not a lot that the consumer can do if the whole industry puts up its prices. Quote Link to comment Share on other sites More sharing options...
parthiban Posted April 12, 2016 Report Share Posted April 12, 2016 There is not a lot that the consumer can do if the whole industry puts up its prices. This does seem to be the issue - prices going up is fair enough but such a big jump in one year isn't justified. Quote Link to comment Share on other sites More sharing options...
Sagitar Posted April 13, 2016 Report Share Posted April 13, 2016 There is not a lot that the consumer can do if the whole industry puts up its prices. This does seem to be the issue - prices going up is fair enough but such a big jump in one year isn't justified. Car insurance appears to be regulated by the Financial Ombudsman, so I have written to him and asked him to explain why he has allowed the whole industry (which is supposed to be competitive) to raise its prices by such a large amount. In a market where the consumer is obliged in law to buy, it seems to me to be important to ensure that the industry is not allowed to charge what it likes. Apart from the question of fairness, it seems very likely that a price hike of this kind will result in an increase in the number of uninsured drivers. Quote Link to comment Share on other sites More sharing options...
andyelcomb Posted April 13, 2016 Report Share Posted April 13, 2016 I agree Sagitar. To my way of thinking as it is a legal requirement to have 3rd party insurance then, say, a flat £25 of every premium is for the compulsory insurance and the rest (normally the comprehensive bit) is negotiable (ha!) between the insurer and the insuree depending on all the usual parameters such as type of vehicle, previous record etc. Same goes for all this dicking about with the road tax (or whatever they car it now) - a flat charge of again maybe £30 for any car which could be incorporated into the insurance to go towards wear & tear and the rest be loaded into the fuel duty so that those that use it pay for it. Simples! Quote Link to comment Share on other sites More sharing options...
Rich Posted April 13, 2016 Author Report Share Posted April 13, 2016 This doesn't read well. I'll have to redo the quotes for the new car before we decide what to get. Quote Link to comment Share on other sites More sharing options...
Sagitar Posted April 15, 2016 Report Share Posted April 15, 2016 There is not a lot that the consumer can do if the whole industry puts up its prices. This does seem to be the issue - prices going up is fair enough but such a big jump in one year isn't justified. Car insurance appears to be regulated by the Financial Ombudsman, so I have written to him and asked him to explain why he has allowed the whole industry (which is supposed to be competitive) to raise its prices by such a large amount. In a market where the consumer is obliged in law to buy, it seems to me to be important to ensure that the industry is not allowed to charge what it likes. Apart from the question of fairness, it seems very likely that a price hike of this kind will result in an increase in the number of uninsured drivers. I received a quite helpful reply from the Financial Ombudsman and it appears that while he can deal with individual complaints by customers against specific insurance companies, the insurance industry as a whole is regulated by a different body, i.e. The Financial Conduct Authority. So next step is to ask the FCA the same questions as I asked the Financial Ombudsman. Please don't hold your breath. Quote Link to comment Share on other sites More sharing options...
liner33 Posted April 15, 2016 Report Share Posted April 15, 2016 There is not a lot that the consumer can do if the whole industry puts up its prices. This does seem to be the issue - prices going up is fair enough but such a big jump in one year isn't justified. Car insurance appears to be regulated by the Financial Ombudsman, so I have written to him and asked him to explain why he has allowed the whole industry (which is supposed to be competitive) to raise its prices by such a large amount. In a market where the consumer is obliged in law to buy, it seems to me to be important to ensure that the industry is not allowed to charge what it likes. Apart from the question of fairness, it seems very likely that a price hike of this kind will result in an increase in the number of uninsured drivers. I received a quite helpful reply from the Financial Ombudsman and it appears that while he can deal with individual complaints by customers against specific insurance companies, the insurance industry as a whole is regulated by a different body, i.e. The Financial Conduct Authority. So next step is to ask the FCA the same questions as I asked the Financial Ombudsman. Please don't hold your breath. http://www.moneysavingexpert.com/news/insurance/2016/03/budget-2016-insurance-premium-tax-hiked- Fire off another to George Osborne while you are at it Quote Link to comment Share on other sites More sharing options...
Rich Posted June 4, 2016 Author Report Share Posted June 4, 2016 Just had my renewal quotes from Tesco's. The Accord is £285 and actually gone down! Pretty chuffed with that but I'll do a few online quotes and see if I can get it cheaper. I did pay £260 last year but that was after £40 cashback, the premium was £300. Quote Link to comment Share on other sites More sharing options...
Rich Posted June 6, 2016 Author Report Share Posted June 6, 2016 Just done my first online comparison and Tesco's is coming out at £223! I'll do all the other sites today and go from there but Aviva was over £400. I'm reading that Tesco can be a nightmare if you ever need to claim and I've also noticed they've only put 9 years NCB on the renewal document, which should be 12 now. Quote Link to comment Share on other sites More sharing options...
SMARTLY Posted June 6, 2016 Report Share Posted June 6, 2016 Some insurers treat over 9 years as 9+ even if it's 25. Quote Link to comment Share on other sites More sharing options...
Rich Posted June 6, 2016 Author Report Share Posted June 6, 2016 But if I tell someone I have 12 years and show them the renewal that says 9 would they accept that? I've done all the comparisons now and Tesco is the cheapest on all of them, Admiral etc are at least £100 more, so even going via cashback sites doesn't get it closer. I just need to get Tesco to match their online quote now. Quote Link to comment Share on other sites More sharing options...
SMARTLY Posted June 6, 2016 Report Share Posted June 6, 2016 But if I tell someone I have 12 years and show them the renewal that says 9 would they accept that? Doubt it Quote Link to comment Share on other sites More sharing options...
Rich Posted June 6, 2016 Author Report Share Posted June 6, 2016 Well I have last years renewal notice from Admiral that shows 11 years so I could use that if I had to but what a stupid system! Quote Link to comment Share on other sites More sharing options...
parthiban Posted June 20, 2016 Report Share Posted June 20, 2016 Even if they have the weird 9+ system, if you ask they should send you a document confirming your actual years NCD. Quote Link to comment Share on other sites More sharing options...
Rich Posted June 24, 2016 Author Report Share Posted June 24, 2016 Just been on the phone to Tesco and spoke to a very helpful lady, UK call centre too. If I leave then yes they will send a letter stating how many NCBs you have providing you prove to them how many you had when you joined them, so keep those renewal letters! I said they had quoted cheaper online with go compare and could they match, they said no problem instantly. I told them the price and they searched their system for the quote of £223 and I also got them to lower my voluntary excess to £100, the same as the quote. What they didn't spot is that legal cover is included in my renewal but not on the online quote so I should have that included too. I'm pretty chuffed with that! Quote Link to comment Share on other sites More sharing options...
Rich Posted May 19, 2017 Author Report Share Posted May 19, 2017 It's getting to that time again and quotes aren't coming out as cheap as last year, about £60 more so £280+. What I am noticing though is those who always quote low are now no where near. Admiral group, Performance Direct, Hastings are all over £400. Some of the banks, the RAC and AA are now quoting under £300, yet they have always been more than double the cheapest. I've not hit a milestone birthday yet and all details are the same so I'm wondering why they are now more competitive. Quote Link to comment Share on other sites More sharing options...
eddie Posted May 19, 2017 Report Share Posted May 19, 2017 Did you get quotes from some independent brokers and did you use comparethemarket etc as well? Quote Link to comment Share on other sites More sharing options...
Rich Posted May 23, 2017 Author Report Share Posted May 23, 2017 Did you get quotes from some independent brokers and did you use comparethemarket etc as well? These quotes were only from the comparison sites. I only use a broker for the MX5 as it's on a classic policy but haven't bothered for the other cars, they can't seem to get close to online quotes. Quote Link to comment Share on other sites More sharing options...
eddie Posted May 24, 2017 Report Share Posted May 24, 2017 Did you get quotes from some independent brokers and did you use comparethemarket etc as well? These quotes were only from the comparison sites. I only use a broker for the MX5 as it's on a classic policy but haven't bothered for the other cars, they can't seem to get close to online quotes. I was with Chris Knott for a while but Marks and Spencer insurance came out cheapest for me last year. worth a try if they didnt show up in the comparison site Quote Link to comment Share on other sites More sharing options...
Rich Posted June 4, 2017 Author Report Share Posted June 4, 2017 Marks and Spencers are one of the cheaper quotes. I was with Chris Knott for a few years when I had modified cars but they've not been as competitive since I've had the Accord. I received my renewal email this morning from Tesco. Last year was £223, this year is £256 which also includes legal protection. Cheapest online quote without legal protection is £280. So it looks like I'll just be renewing with Tesco. Quote Link to comment Share on other sites More sharing options...
SMARTLY Posted June 4, 2017 Report Share Posted June 4, 2017 also Insurance Premium Tax just gone up from 10% to 12% Quote Link to comment Share on other sites More sharing options...
eddie Posted June 4, 2017 Report Share Posted June 4, 2017 sneaky buggers always manage to get some tax increase in somewhere. what happend to VAT being "temporarily" raised to 15% in the 90s? Now we are at 20% and that was also supposed to be temporary! also Insurance Premium Tax just gone up from 10% to 12% always pays to shop around Marks and Spencers are one of the cheaper quotes. I was with Chris Knott for a few years when I had modified cars but they've not been as competitive since I've had the Accord.I received my renewal email this morning from Tesco. Last year was £223, this year is £256 which also includes legal protection.Cheapest online quote without legal protection is £280. So it looks like I'll just be renewing with Tesco. Quote Link to comment Share on other sites More sharing options...
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