Insurance hike

Stever750 · March 12

Back to the OP; I have been chatting with some business contacts in the accident repair market for around 3 years or so now, and they have been increasingly concerned about the challenges of safely and effectively repairing EV's or anything with a Battery pack. Same goes for the autonomous features, eg lane departure, ACC etc etc. These technologies are simply too complex for the majority of workshops to handle properly, let alone back street independants. The upshot is that entire Battery modules are being replaced rather than being repaired and individual cells being replaced. Sure, over time designs will evolve to make these repairs easier and lower cost, but that's not always the case right now.

Personally, I was somewhat surprised that my annual premium doubled when I jumped from my 2.0TSI Skoda into a much more sedate hybrid. My wife runs an Auris hybrid, and the premium isn't especially high, so it can't just be the hybrid / Battery repair / replacement cost consideration. I've started reading about the spate of thefts of lexus generally, and subsequent stories that LV will no longer provide cover to RX owners

Bounce75 · March 12

Well I just had my Tesco insurance renewal through, £260 last year, £610 this year. 😬

20years NCB protected, Retired so no commuting, 4,000 miles a year.

Just been on comparison site & can get it for £314 with all of above, but £100 excess compared to £250 with renewal.

So goodbye Tesco, hello Aviva, unless I can manage to get a better deal somewhere else.

wharfhouse · March 13

1 hour ago, Bounce75 said:

Well I just had my Tesco insurance renewal through, £260 last year, £610 this year. 😬

20years NCB protected, Retired so no commuting, 4,000 miles a year.

Just been on comparison site & can get it for £314 with all of above, but £100 excess compared to £250 with renewal.

So goodbye Tesco, hello Aviva, unless I can manage to get a better deal somewhere else.

I'm with Tesco and the insurance on my IS 300h is up for renewal on April and so now thinking I'll be getting the comparison site ready for when the renewal comes in!

Bounce75 · March 13

9 hours ago, wharfhouse said:

I'm with Tesco and the insurance on my IS 300h is up for renewal on April and so now thinking I'll be getting the comparison site ready for when the renewal comes in!

That is probably a very good idea.👍

wharfhouse · March 13

22 minutes ago, Bounce75 said:

That is probably a very good idea.👍

I was with Tesco the year before and when it renewed last April it went up 37%, but as it was still within a few pounds of the cheapest quote when I ran an online comparison I stayed with them. Hoping that given last years large increase, this year may be more palatable... but not holding my breath!!!

Malc1 · March 13

I often get Chris Knott to quote …… not always competitive but at least they are nice people on the phone and try !

They do all types of insurance and been around a very long time …….. maybe 40 years and Old School with personal service

Malc

Bounce75 · March 13

33 minutes ago, wharfhouse said:

I was with Tesco the year before and when it renewed last April it went up 37%, but as it was still within a few pounds of the cheapest quote when I ran an online comparison I stayed with them. Hoping that given last years large increase, this year may be more palatable... but not holding my breath!!!

The only issue with Tesco ins is they only give 9 years NCB & I had 20 years when I joined from the AA last year.

I have had to phone them & they are sending out a letter with 21 years NCB proof.

wharfhouse · March 13

12 minutes ago, Bounce75 said:

The only issue with Tesco ins is they only give 9 years NCB & I had 20 years when I joined from the AA last year.

I have had to phone them & they are sending out a letter with 21 years NCB proof.

I've found that it doesn't seem to make any difference after the nine years....

Bounce75 · March 13

11 minutes ago, wharfhouse said:

I've found that it doesn't seem to make any difference after the nine years....

It did with Saga a few years ago, I had 20 plus years, but I changed & stayed with the same company for a couple of years who only gave 15 years.

I left & went to Saga, but they would only accept the 15 years I had with the current insurer even though I told them I had over 20 years before that, they added about another £30 because I couldn't prove the 20 years I originally had, so I have had to build it up again & don't want to lose it again now.

GMB · March 13

I lost 20 years NCB when I moved back to the UK. Quote " We do not accept NCB earned in another country". So back to Zero on three vehicles. Thanks UK insurers. Nothing I could do. Funny thing is that one company said they could accept it and their costs were higher than the ones who would not. Odd!

wharfhouse · March 13

15 minutes ago, GMB said:

I lost 20 years NCB when I moved back to the UK. Quote " We do not accept NCB earned in another country". So back to Zero on three vehicles. Thanks UK insurers. Nothing I could do. Funny thing is that one company said they could accept it and their costs were higher than the ones who would not. Odd!

When I moved from a company car to a personal car the insurers accepted a letter from my employer that I had no accidents in the previous x years and so started me with some NCB (though unprotected). That was a lot of years ago now so not sure whether they do the same today.

Mr_Groundhog · June 12

I add myself to this party: from the £750 i was paying this last year i just got a renewal price (no claims or incidents) of over £1,100 !!!
I will be looking elsewhere but it seems I'm gonna feel scammed no matter what, every day of the coming year.

agent_dess · June 24

I just renewed mine last month at £479, last year it was £450.

When I got the car in 2022 it was £320

Mr_Groundhog · June 25

21 hours ago, agent_dess said:

I just renewed mine last month at £479, last year it was £450.

When I got the car in 2022 it was £320

I wish I could get those quotes! Are we talking comprehensive?

In the end I found one for 870 but still very painful

matt8 · June 25

Aviva Zero policy. Nov 2023.

£475.39 fully comprehensive.

Wondering what it’ll be come November this year.

agent_dess · June 26

12 hours ago, Mr_Groundhog said:

I wish I could get those quotes! Are we talking comprehensive?

In the end I found one for 870 but still very painful

Yep comprehensive including motor legal protection

ikeja · June 26

Last year £286 fully comp, this year £331 fully comp 10000 miles annual. Through Aviva Online. £40+ increase but other providers were quoting £550+ for same cover.

steve2006 · June 26

6 hours ago, ikeja said:

Last year £286 fully comp, this year £331 fully comp 10000 miles annual. Through Aviva Online. £40+ increase but other providers were quoting £550+ for same cover.

Probably because Aviva only increased their profits by 9% and gave an 8% share dividend but still increased your premium double that amount!

ColinBarber · June 27

12 hours ago, steve2006 said:

Probably because Aviva only increased their profits by 9% and gave an 8% share dividend but still increased your premium double that amount!

Not to defend an insurance company but Aviva is much more than a domestic insurance company, their profits come from multiple revenue streams. The insurance element may or may not have been profitable.

The divided was increased by 8%, not that the annual yield is 8 percent.

ikeja · June 27

Probably because Aviva only increased their profits by 9% and gave an 8% share dividend but still increased your premium double that amount!

Yes, my premium increased but, to me, it was the best deal available.

steve2006 · June 27

Yes you did well, mine increased around 25% on renewal

agent_dess · June 27

Insurance price should be capped as it stands it a legal racket!!

I find it funny that home insurance which covers 20X more than the price of a car is less to insure than the car!! Madness!

Even more annoying as the car insurance renewals go up the value of the car is dropping year on year.

Agenda 2030... You will own nothing and be happy....

Boomer54 · June 27

3 hours ago, agent_dess said:

Insurance price should be capped as it stands it a legal racket!!

I find it funny that home insurance which covers 20X more than the price of a car is less to insure than the car!! Madness!

Even more annoying as the car insurance renewals go up the value of the car is dropping year on year.

Agenda 2030... You will own nothing and be happy....

Some basic maths would explain the premium differential. I doubt many people crash their houses.