Are insurance premiums on the increase?

AlwaysAnyTime

Got my renewal quote there, (I have 10 years full license and 11 years no claims, no penalty points, never had a claim or conviction). Driving a 1.9 litre diesel. And they have put my premium up by €150 since last year? I thought more years full license and no claims was supposed to decrease your premium.. or is there something going on in the insurance industry I don't know about? Looks like I'll have to move insurer again.. ugh the hassle!

CJhaughey

AlwaysAnyTime wrote: »

Got my renewal quote there, (I have 10 years full license and 11 years no claims, no penalty points, never had a claim or conviction). Driving a 1.9 litre diesel. And they have put my premium up by €150 since last year? I thought more years full license and no claims was supposed to decrease your premium.. or is there something going on in the insurance industry I don't know about? Looks like I'll have to move insurer again.. ugh the hassle!

Thats standard practice in the insurance industry. Its called inertia, people are too/lazy/busy/ignorant to ring around and get a better quote.
They leave it too late and end up renewing with the same insurer for more money.
Ring, ring and ring until you find a better quote and then keep trying to get a better one.

AlwaysAnyTime

CJhaughey wrote: »

Thats standard practice in the insurance industry. Its called inertia, people are too/lazy/busy/ignorant to ring around and get a better quote.
They leave it too late and end up renewing with the same insurer for more money.
Ring, ring and ring until you find a better quote and then keep trying to get a better one.

I have been with this company for 6 years now and the price has decreased year on year so dunno why they are trying this with me now. It's much easier nowadays by just going online to get multiple quotes, in the last 10 minutes I have found 2 insurers who are around the same price as last years premium saving me €150, it's just the hassle of sending my no claims, license, bank details, etc to new insurer.

Gloomtastic!

AlwaysAnyTime wrote: »

I have been with this company for 6 years now and the price has decreased year on year so dunno why they are trying this with me now. It's much easier nowadays by just going online to get multiple quotes, in the last 10 minutes I have found 2 insurers who are around the same price as last years premium saving me €150, it's just the hassle of sending my no claims, license, bank details, etc to new insurer.

Call them up and tell them you've had a cheaper quote and by how much. Ask them to beat it as you've been a good customer for six years blah, blah, blah

CJhaughey

AlwaysAnyTime wrote: »

I have been with this company for 6 years now and the price has decreased year on year so dunno why they are trying this with me now. It's much easier nowadays by just going online to get multiple quotes, in the last 10 minutes I have found 2 insurers who are around the same price as last years premium saving me €150, it's just the hassle of sending my no claims, license, bank details, etc to new insurer.

Use a fake name and your correct details with the current insurer. See what kind of quote they give.

Toyotafanboi

the way i see it, from insurance companies:

young person = insurance will be high because the are inexperienced
old person = insurance will be high because they are becoming frail and lax
young car = insurance will be high because car is still worth a lot of money
old car = insurance will be high because car is "likely" to fall apart

find it very hard to win really. surprised they didn't say your 1.9tdi was a performance car tbh.

Gumbo

In general, yes they are and that's from an under writing friend.
My premium went up this year even though I'm driving a less valuable car, half the engine size and one third of the power.

bigtimecharlie

Last year was €299.
Renewal was €689 via DD over 10 months or €635 cash.

Got a new provider for €305.

Took pleasure ringing to cancel old policy. They didn't even try to reduce the renewal. ( must check soon that they didn't take any DD payments to be sure). Car or age shouldn't justify that renewal quote.

cerastes

bigtimecharlie wrote: »

Last year was €299.
Renewal was €689 via DD over 10 months or €635 cash.

Got a new provider for €305.

Took pleasure ringing to cancel old policy. They didn't even try to reduce the renewal. ( must check soon that they didn't take any DD payments to be sure). Car or age shouldn't justify that renewal quote.

Any details on your circumstances and the insurer? late 30's family car large cc ( I know, why?? tax is a killer, least I can try do something about the insurance)
Im looking for insurance soon, at 299 last year, your old insurer could be my new one at that price , Or even your new one could be my new insurer.

bop1977

A few things happened this year, we had the floods, the EU saying women shouldn't be given preferential treatment for insurance and people being lazy just renewing their insurance without shopping around.

All three combined to up the price.

punisher5112

Also the levy added for Quinn flop and now Setanta insurance gone bang trading from malta withonly Irish customers....

Always shop around but things in general are getting dearer.

arleitiss

Mine went down by 1200 eur since last year

pred racer

Toyotafanboi wrote: »

find it very hard to win really. surprised they didn't say your 1.9tdi was a performance car tbh.

They said mine was:rolleyes:

V.W.L 11

My insurance was static or went up in 3 of the last 4 years,a bloody joke!!!i'm nearly paying now what i paid 5 years ago.Quinn,Setanta,floods,women & the government/E.U are killing us!next you'll need tax insurance and an nct of some sort on bicycles,ONLY IN IRELAND!!!!!!!!!

Mine went up by €25, the places I've looked can't offer anything close to 123.ie. 21 year old car (can't get classic insurance as daily driver and sole car) may be the issue for me.

V.W.L 11

OSI wrote: »

Yeah a lot are trying to offload their books of certain criteria. Last year's premium with Aviva was 1200. Renewal came in at 2350. Rang AXA and guy was throwing everything he could into a fully comp policy for just over 700. Rang back Aviva and woman on phone said the best she could was 2250, and wasn't exactly surprised when I told her no.

funny enough its axa i'm having the problems with,been with them 8 years now :rolleyes:

bee06

My renewal went down this year for the first time ever and I still looked around for a better quote and didn't find one.

As someone else said insurance companies may often be trying to change their risk profile so will give higher renewal quotes to some risk types they want to get rid off. I also think I read somewhere when I was checking around for quotes that 6 years NCB is the max that will be applied in some companies.

Arthur Beesley

Mine went up by EUR16.

cython

bee06 wrote: »

My renewal went down this year for the first time ever and I still looked around for a better quote and didn't find one.

As someone else said insurance companies may often be trying to change their risk profile so will give higher renewal quotes to some risk types they want to get rid off. I also think I read somewhere when I was checking around for quotes that 6 years NCB is the max that will be applied in some companies.

That's the case in most companies, and even 6 is beyond what a lot of them will recognise (max 5 in many instances). Just look at the number of companies that won't even take a larger number in their quoting forms. And in fact in some cases the recognition of more than 5 is a con job anyway, as the max discount is still 50% in many of them, but they give less bonus per year than a company recognising years for 50%.