Car insurance price hike

multiscan

just got car insurance renewal from FBD and not sure how they can justify massive premium hike :

going from 465 to nearly 1000 yoyos in one year . no claims on the policy with full no claim.

I gave them call and they came down to 870 which is still massive bump in premium

its not price hike ......its extortion.

Henry Ford III

Shop around. Simples.

Damien360

FBD have become very expensive for all insurance. We used to have car and home insurance with them but their recent quotes were ridiculous with no justification when I rang to try drive the price down using other insurers quotes to compare.

Also, every insurer appears to give good first time quotes but renewals are silly after that. There must be a hell of a lot of suckers out there who just renew without checking each year.

Faith+1

multiscan wrote: »

just got car insurance renewal from FBD and not sure how they can justify massive premium hike :

going from 465 to nearly 1000 yoyos in one year . no claims on the policy with full no claim.

I gave them call and they came down to 870 which is still massive bump in premium

its not price hike ......its extortion.

What are u driving? Mines a 1.2 fiesta and went up 60 quid this year with FBD. I wanted to complain but compared to alot of posters on Boards I think I got away lightly!

johnb25

Just renewed mine and wife's yesterday. Renewals had gone up by approx €50 each from Chill and 123.ie respectively. Best quote I found was 25Plus.ie. (we both fit that category comfortably!). Came in around what we paid last year.

John

bazz26

These threads seem to appear weekly here these days and the answer is the same, just shop around, give no loyalty to insurance companies as they very rarely give it back.

They issue these ridiculous renewal figures for a few reasons including:
1. Adding it on to take some off if the customer rings them.
2. Hope that people are lazy and will not shop around for a better price.
3. A combination of the above.

fryup

they (fbd) say i've got a no claims bonus of 50%...but yet my premium is up €60 so much for the no claims bonus:rolleyes:

is there any point in phoning up and complaining??

RandomAccess

Mines gone up a tenner a year for last three years, and it would be higher except I chose to drop the driving other cars option to save €40/50 last year. I never used it anyway but it was handy to have in case I needed it.

This years renewal came in last week and its €495.

While you're renewing you should remember to ask them if they cover engine damage from shonky fuel!
Very few of them did as far as I know.

coylemj

fryup wrote: »

they (fbd) say i've got a no claims bonus of 50%...but yet my premium is up €60 so much for the no claims bonus:rolleyes:

is there any point in phoning up and complaining??

No, who would you complain to? It's a free market, shop around.

There is upward pressure on motor premiums, it's a combination of FBD having a recent bad spell for claims and the fcuk-up that RSA made underproviding for future claims which led to several people leaving the company. Aside from those two companies, as the economy improves, people are driving more (borne out by an increase in fuel sales in recent months) and this means more claims so premiums go up.

visual

It's a greedy industry and all the insurance companies are increasing their fees

have the same problem with liberty so phoned AA and they out right said it on phone they are all increasing premiums this year.

Only advise is shop around for best deal.

There is little else you can do other than try get best value for your money.

fryup

fryup wrote: »

they (fbd) say i've got a no claims bonus of 50%...but yet my premium is up €60 so much for the no claims bonus:rolleyes:

is there any point in phoning up and complaining??

coylemj wrote: »

No, who would you complain to? It's a free market, shop around.

well is there any point in haggling then?

Henry Ford III

fryup wrote: »

well is there any point in haggling then?

Only if you've something to haggle with, such as a better quote.

fryup

i could make one up

coylemj

fryup wrote: »

well is there any point in haggling then?

Yes, there's always leeway. I once called a branch of one of the insurance companies, the lady said that the quote she was giving me was the absolute rock bottom quote, no possibility of a penny less. So I said I'd call her back in 10 minutes which I did but the call got rerouted to a different branch and I tried it on with the new lady, she dropped the price from the previous quote by €40.

fryup wrote: »

i could make one up

That's exactly what you need to do. And stay on the line, silence is golden and sends them a signal that you're close to doing a deal so often you get put on hold and the agent's supervisor authorises a lower quote. Or they put you on hold and hum a tune for 15 seconds so you can't accuse them of lying (that the quote was the absolute best they could do) so they just pretend that their supervisor authorised a lower quote, same as happens when buying a car and the sales guy disappears for 5 minutes so you think he's arguing with the bean counters upstairs for a better price for you.

fryup

coylemj wrote: »

So I said I'd call her back in 10 minutes which I did but the call got rerouted to a different branch and I tried it on with the new lady, she dropped the price from the previous quote by €40.

well wouldn't ya know it fbd dropped the quote by €40 too when i phoned up today

must be the usual discount

Cee-Jay-Cee

There was article in the paper last week about this and it was claimed that an average of €50 is added onto all policies this year to compensate for the amount of fraudulent claims insurance companies are having to pay out on. The average claim for whiplash injuries, which are impossible to disprove...is €18k!

There are two distinct groups in Irish society making multiple claims on a weekly basis, the insurance companies have them flagged but it is near impossible to prove fraud in many of them.

An example of one last week in my home town is a family of 6 Roma were approaching a t-junction governed by yellow box and were hit lightly from behind, no noticeable damage to either car however 4 (yes fcuking FOUR) ambulances had to be dispatched from letterkenny hospital to take the 6 injured occupants to the hospital and two of them had filed injury claims within two days, the other 4 presumably were waiting a day it two so as not to arouse suspicion. And the damned thing about it is the insurance company will more than likely pay out handsomely!

fryup

Cee-Jay-Cee wrote: »

And the damned thing about it is the insurance company will more than likely pay out handsomely!

well they shouldn't, if they're suspicious they should investigate it thoroughly otherwise this cr@p is going to get out of control