I'd heard insurance renewals were rising, but couldn't believe by how much! Got my renewal premium today and it's gone up by nearly 50%. I rang around all the big names and three brokers but the renewal quote I was originally given by What Car is actually the cheapest! What has happened to justify a rise from £440 to £650 in one year? Admiral claimed it was because Scoobies are now 'too popular', whilst the others just claimed to be following insurance guidelines. Sounds to me like the "we were only following orders" plea. Or perhaps this is 'price fixing'?

 

i just got my renewal for the 350BHP cossie i just sold. full NCB, no convictions etc.

went up from £900 to £1200.

They are just taking the pi$$

 

Mine went up with admiral from 550 to 590 (due feb 2000). No change to policy as I already had max no claims. Did turn thirty in November but doesnt seems to make a difference anymore. Best other quote was 850 they certainly dont like mods .

cheers

chrisp

 

I think its time to call the BBC's Watchdog. These quotes sound more like 'What can the market take?' rather than 'What's the risk of insuring this car?'

James

 

Good idea about the Watchdog!

There was an article in one of the car mags (can't remember which one) talking about this issue. The reasons given were: higher insurance tax and insurance companies trying to make more profit...

 

Forget it boys, I work in Insurance, for a clue who, look at the FA Cup.
Anyway, private motor is a bad book for the whole of the insurance sector.

robski

 

Read an article not sure where (maybe the Sunday Times) which said there were 2 reasons for premiums going up.

1). Insurance companies have been making a loss recently due to the cut throat nature over the last few years due to new entrants to the makret place. (Poor things)

2). Also the fact that it is easier for hospitlas to charge for accidents now and they can claim up to £6,000 rather than the previous £3,000.

But lets face it in reality it probably is just a con to charge us more !

 

Its not trust me.

Most Ins cos are making losses on private car, due in part to the reasons you quote.

robski

 

Was on the phone to my insurers today reference their renewal quote. Seems like someone made a mistake- to the tune of £150!!! I can live with that.