NA - Insurance Price Hike!

Honest John Back Room » Motoring discussion
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Wed 12 Oct 2016 21:33
NA - Insurance Price Hike! - RaineMan

Last year I was driving a 20 y.o. Vectra 2.5 V6. This year I am driving a 12 y.o X-type with a 2.1 V6. The Vectra was the faster car. However my reneal came through today and the premium is 120% higher. It seems an incredible increase for a car that is worth maybe 2 - 2.5 times more. Both prices were/are with max NCB protected. Time to shop around after 5 years with the same company.

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Wed 12 Oct 2016 22:03
NA - Insurance Price Hike! - MrPogle

So the potential payout the insurance company is risking is 100-150% greater, all other factors are the same and you are surprised that your premium has gone up 120%?

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Wed 12 Oct 2016 22:20
NA - Insurance Price Hike! - brum

So the potential payout the insurance company is risking is 100-150% greater, all other factors are the same and you are surprised that your premium has gone up 120%?

Thats not how they base their premiums, otherwise new car insurance would be unaffordable. Car value is only a small proportion of the overall calculation. It may be the insurance company doesnt want to insure that model due to perceived risk, accident history, cost of repair, or maybe his neighborhood has had several high value claims recently.

Op should shop around, the insurance market is very competitive.

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Wed 12 Oct 2016 22:27
NA - Insurance Price Hike! - Falkirk Bairn

My Insurer hiked the renewal premium from £175 to £236 & I HAD GONE FROM 20 YRS NCB to 21.

Ran a comparison & got a price of £178from Quaote me Happy......my insurer matched the Aviva price.

Moral - it pays to shop around!

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Wed 12 Oct 2016 23:07
NA - Insurance Price Hike! - galileo

Last year's premium (through IAM) was £246. They rang and said this year it will be £715 - same car, same driver, no claims/incidents.

Comparison site came up with 60 quotes less than thier £715, what baffle me is why they made their offer, must have been obvious it was nonsense.

I'm back with LV=, found them reasonable cost, easy to deal with and highly regarded in satisfaction surveys.

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Wed 12 Oct 2016 23:51
NA - Insurance Price Hike! - bathtub tom

My, now previous, insurer was the most competitive over the last few years - I did always use the price comparison websites.

This year, they decide to add NCD protection as a non optional addition. I pointed out this would place them at a disadvantage when comparing prices, but they wouldn't budge.

Their loss!

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