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Why has my insurance premium with the NFU Mutual been increased by 50 per cent?
My car is insured with National Farmers Union Mutual. The renewal is due and the price is up by 50 per cent with no change at all in my circumstances. I have queried this and they say all insurers have put up prices. I can’t believe they have all put the prices up this much and neither can I believe NFU have put up everyone’s premium by as much. I have asked to know exactly why, as I feel another insurer could think I am a bad credit risk or am not telling the truth, as a hike like this is tantamount to refusing insurance. NFU wants £855 and I have a quote via Adrian Flux for £410. Can I demand to know why NFU have really put my premium up or am I wasting my time?
Asked on 15 December 2010 by KJ, via email
Answered by
Honest John
They haven't all put up prices to that extent. A lot of the increase is due to allowing credit hire claims against them where accident management companies take over claims, extend the period of repair of the no fault driver's car and put him in an expensive hire car. It's very difficult for insurers to fight this, but it is a legal scam that is costing all of us a fortune and Parliament needs to stop it.
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