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Why has my car insurance increased following a house move?

We have three cars all insured with different insurers and recently moved approximately 16 miles. No other factors have changed and two of the insurers agreed to the change of address with no material premium adjustment, one actually went down marginally. The third policy, which is on an elderly Lexus RX400h has more or less doubled. I can't understand how there can be such a discrepancy in approach and can't get a sensible explanation out of the company involved. Any thoughts?

Asked on 28 December 2022 by Anthony Forsyth

Answered by Lawrence Allan
Insurance companies use complex algorithms and a multitude of factors to determine your insurance policy cost. Sometimes a small change in location can push the price up. However, the prices are very flexible if they wish to keep your custom. Get a quote for a rival insurance firm and then speak to your insurer to see if they will match or beat the price. If not, then it'll usually be cheaper to pay the cancellation fee and start a new policy elsewhere.
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