Car Insurance gone way up

FrStone

I'm after getting a renewal price for my car insurance - €200 increase on last years renewal! Thing is I now have an extra years NCB, no points etc. I'm also a year older.

Anyone else coming across this? I knew premiums were on the rise but really I was expecting a decrease or at least to stay static...

I've quotes from Aviva, Axa, Allianz, FBD, Zurich, One direct, Chill and a huge amount of brokers and they are all hugely more expensive than my renewal quote from Liberty.

I added my girlfriend onto the policy about three months into it last year, it only cost us an administration charge of €30 to do this, however if I take her off it now it brings the price down by €200... I wonder would it be a possibility to take her off the insurance and ring up a week into the policy asking to put her on again?

BuffyBot

Tons.

Tons of threads on this very topic in the last few weeks

corks finest

FrStone wrote: »

I'm after getting a renewal price for my car insurance - €200 increase on last years renewal! Thing is I now have an extra years NCB, no points etc. I'm also a year older.

Anyone else coming across this? I knew premiums were on the rise but really I was expecting a decrease or at least to stay static...

I've quotes from Aviva, Axa, Allianz, FBD, Zurich, One direct, Chill and a huge amount of brokers and they are all hugely more expensive than my renewal quote from Liberty.

I added my girlfriend onto the policy about three months into it last year, it only cost us an administration charge of €30 to do this, however if I take her off it now it brings the price down by €200... I wonder would it be a possibility to take her off the insurance and ring up a week into the policy asking to put her on again?

Yes,and insult to injury,changed car and was charged e68 for paperwork,plus new car in garage for 2 days e31,Liberty insurance,never ,ever again will I insure with them,up to now I was never charged north/south for a replacement car,disgusted

macplaxton

FrStone wrote: »

I knew premiums were on the rise

^^^^ with this knowledge

FrStone wrote: »

but really I was expecting a decrease or at least to stay static...

^^^^ but expect that!

Hello? Hello? Welcome to the world of insurance.

Special Circumstances

They have said they will want the same increase or more next year too. The increases will continue until morale improves. Not your morale, their moral. Aboard their yacht.

It's just soooo difficult selling a product people are legally and morally obliged to buy. Nobody understands them or likes them boooohoooo. Still, the odd money fight of a Friday evening brightens things up in the office.

Liam McPoyle

FrStone wrote: »

I'm after getting a renewal price for my car insurance - €200 increase on last years renewal! Thing is I now have an extra years NCB, no points etc. I'm also a year older.

Anyone else coming across this? I knew premiums were on the rise but really I was expecting a decrease or at least to stay static...

I've quotes from Aviva, Axa, Allianz, FBD, Zurich, One direct, Chill and a huge amount of brokers and they are all hugely more expensive than my renewal quote from Liberty.

I added my girlfriend onto the policy about three months into it last year, it only cost us an administration charge of €30 to do this, however if I take her off it now it brings the price down by €200... I wonder would it be a possibility to take her off the insurance and ring up a week into the policy asking to put her on again?

You paid x based on a particular set of circumstances last year.

Those cirumstances changed during the year and as a result your insurance is more expensive at renewal.

If you revert back to the same circumstances as last year you get the same price as last year.

You are doing well to be honest.

Either tell your bird she owes you €200 to stay on the policy or remove her, renew it and see will they add her back on with only the admin charge.

FrStone

Business Cat wrote: »

You paid x based on a particular set of circumstances last year.

Those cirumstances changed during the year and as a result your insurance is more expensive at renewal.

If you revert back to the same circumstances as last year you get the same price as last year.

You are doing well to be honest.

Either tell your bird she owes you €200 to stay on the policy or remove her, renew it and see will they add her back on with only the admin charge.

The circumstances changed during the year and only cost €30 more why would it suddenly be an extra €200?

Also, last year was my first year with the policy in my own name instead of a parents (I thought it was time to build up a NCB). I was told if I'd stayed as a named driver they would have been able to knock €150 off the renewal. I'm half tempted to put the car back in my Fathers name and just go as a named driver.

Nody

FrStone wrote: »

The circumstances changed during the year and only cost €30 more why would it suddenly be an extra €200?

Also, last year was my first year with the policy in my own name instead of a parents (I thought it was time to build up a NCB). I was told if I'd stayed as a named driver they would have been able to knock €150 off the renewal. I'm half tempted to put the car back in my Fathers name and just go as a named driver.

Please do; and the first time you claim your father's NCB will be set to zero and I'm sure he'll be very happy about that when he gets his new quote esp. as your own NCB will also be zero since you're only named driver (which means no matter what you'll need to build that NCB so simple get it done).

Also the difference is not only are you renewing insurance (it's going up across the board for everyone) but you're also adding additional risk to the yearly quotation (your gf being full year on the insurance).

Chris_Heilong

Business Cat wrote: »

You paid x based on a particular set of circumstances last year.

Those cirumstances changed during the year and as a result your insurance is more expensive at renewal.

If you revert back to the same circumstances as last year you get the same price as last year.

You are doing well to be honest.

Either tell your bird she owes you €200 to stay on the policy or remove her, renew it and see will they add her back on with only the admin charge.

But "insurance costs have gone up across the board" so this increase is inline with whats happening to everyone at the moment is it not?

Mycroft H

Business Cat wrote: »

If you revert back to the same circumstances as last year you get the same price as last year.

Renewal was 150 euro a year more with less penalty points (zero!) and more NCB.... Yea, go figure.

everything else is the same.

FrStone

Nody wrote: »

Please do; and the first time you claim your father's NCB will be set to zero and I'm sure he'll be very happy about that when he gets his new quote esp. as your own NCB will also be zero since you're only named driver (which means no matter what you'll need to build that NCB so simple get it done).

Also the difference is not only are you renewing insurance (it's going up across the board for everyone) but you're also adding additional risk to the yearly quotation (your gf being full year on the insurance).

Well actually my father has two sets of ncb, his ncb was only zero the first year that he insured a second car in his own name. And he still retained his first ncb on the car I wasn't a named driver with.

Royal Legend

am with Aviva at present, have 2 cars with them, price last year for mine was €365, this year it is €624, they have amended to €509, this is only 3rd party on a 13 year old audi. My wifes is still €280, but only if we have the audi insured. cheapest i have found so far for the audi is €342, but this is basic, no windscreen cover or roadside assistance. cheapest for the wife about €315 from Creane & Creane, which if you allow they charge you €50 for brokerage, now works out cheaper than last years Aviva quote.
Any ideas why my insurance would jump nearly 100%, over 50, never had a claim, driving on full licence for nearly 30 years, never had a penalty point, WTF?

macplaxton

Royal Legend wrote: »

Any ideas why my insurance would jump nearly 100%

Customer "inertia" on top of all the other reasons / excuses

Like other things such as credit cards, bank accounts, other insurance products, mobile phone contracts, gas and electric supply, etc., etc. they love giving amazing teaser rates to sign new customers up. Then a year or so down the line love to **** on their existing customers and charge them a king's ransom to help pay for all these teaser offers. They know they'll keep a certain portion of customers that cough up without question / will lose the will to live chasing round the houses / can't be arsed going through it all again / don't have the time to chase a better deal.

Royal Legend

macplaxton wrote: »

Customer "inertia" on top of all the other reasons / excuses

Like other things such as credit cards, bank accounts, other insurance products, mobile phone contracts, gas and electric supply, etc., etc. they love giving amazing teaser rates to sign new customers up. Then a year or so down the line love to **** on their existing customers and charge them a king's ransom to help pay for all these teaser offers. They know they'll keep a certain portion of customers that cough up without question / will lose the will to live chasing round the houses / can't be arsed going through it all again / don't have the time to chase a better deal.

Thats what it looks like.

blade1

Mine is gone up 150 as well!
I gave all day yesterday trying to get a decent quote expecting that I'd have no problem beating my renewal price.

Nearly every one I tried was even more expensive than my renewal price by around 80 to 100 quid.

Eventually a crowd called click for cover gave me a reasonable price(100 less than my renewal price)

Has a few more add ons than my existing policy too.

I know nothing about them but I think I'll try them for this year at least.

Jesus.

Do any third party policies cover driving other cars?

blade1

Jesus. wrote: »

Do any third party policies cover driving other cars?

Yes.

Caliden

OSI wrote: »

Was talking to someone who's on the inside of a well known insurance company that's in the middle of a massive restructuring and analysis of the business. Apparently on several classes of policies they were losing up to €100 on every policy sold. When asked why they were losing that money and why they weren't adjusting the prices to make a profit, the underwriters said it was because they were told to do whatever it takes to gain a certain position within the market. Really no surprise insurance prices are starting to go up, they all ****ed each other over for years to try and get a leg up and now that people are claiming hand over fist it's finally biting them in the arse.

Exactly what's happening.

Policies being sold at a loss to gain market presence but claims were way up last year so insurance is going up ~200 euro on everyone's policy.

nd

Still worth getting quotes online/ringing. The fathers is up at the end of the month. His was 470 last year with axa. Renewal 670. After checking a few quotes online theaa are cheapest for him(so far) at 450. After ringing them he has been offered it at 372.

timaru89

My renewal quote was 75% higher than last year despite an extra year NCB and now being 25, which used to be the age when premiums dropped substantially!

debabyjesus

I've got a 100% rise. €550 to €1100. 29 with 5+ years no claims driving a 3.0tdi A8. Dropped it to €1060 when I rang, the bunch of c....

Currently ringing around, not looking good at all.

blade1

debabyjesus wrote: »

I've got a 100% rise. €550 to €1100. 29 with 5+ years no claims driving a 3.0tdi A8. Dropped it to €1060 when I rang, the bunch of c....

Currently ringing around, not looking good at all.

Nice of them.

Have you tried click for cover?
If you do they'll ask what was the best quote you got so far.
No harm bending the truth a little!!:pac:

timaru89

blade1 wrote: »

Nice of them.

Have you tried click for cover?
If you do they'll ask what was the best quote you got so far.
No harm bending the truth a little!!:pac:

Do you mean cover in a click?
Click 4 cover only seem to do Home insurance...

blade1

timaru89 wrote: »

Do you mean cover in a click?
Click 4 cover only seem to do Home insurance...

Oops! Sorry about that, yes cover in a click I meant.

debabyjesus

Tried cover in a click, they seem to be pushing policies from a company called petronas, they quoted me €900 but they have poxy admin charges. Bradys in Cavan also pushing the petronas policy. Fbd came down to €1000 so I'm begrudgingly taking that.

The missus renewal came in the door today, its gone from €650 to €1350, another 100% increase.

blade1

debabyjesus wrote: »

Tried cover in a click, they seem to be pushing policies from a company called petronas, they quoted me €900 but they have poxy admin charges. Bradys in Cavan also pushing the petronas policy. Fbd came down to €1000 so I'm begrudgingly taking that.

The missus renewal came in the door today, its gone from €650 to €1350, another 100% increase.

1000 for insurance:eek: and i thought I was being hard done by at €395!

debabyjesus

Yep, €550 last year. Nothing has changed except my perceived risk has doubled apparently.

blade1

debabyjesus wrote: »

Yep, €550 last year. Nothing has changed except my perceived risk has doubled apparently.

That's fairly rough alright!:(

Liam McPoyle

I'd suggest people be wary of Patrona, they are similar / the same as Setanta and are taking up a lot of business. We all know what happened with Setanta.

There is serious flux in insurance at the moment. I was told this morning that Liberty are not taking new commercial business on through brokers at the moment and I know for a fact they are not inviting renewals on any pub or hotel business as its basically toxic due to the claims environment. I wouldn't be at all surprised to see them exit the market altogether.

All the fanfare they had when they launched first about giving motorists a fair deal has stopped because they now realise that the motor insurance industry in Ireland is septic.

FBD could be in bother too if the article in yesterdays Farmers Journal is to be believed.

But of course, the insurance companies are all lying about claims going up and their efforts to stem the flow of claims is just a ruse as they need more cash for the money fights.

jimgoose

Business Cat wrote: »

...they now realise that the motor insurance industry in Ireland is septic...

Hmm. What is it exactly that makes the motor insurance industry in Ireland "septic"?

HeidiHeidi

Business Cat wrote: »

I'd suggest people be wary of Patrona, they are similar / the same as Setanta and are taking up a lot of business. We all know what happened with Setanta.

There is serious flux in insurance at the moment. I was told this morning that Liberty are not taking new commercial business on through brokers at the moment and I know for a fact they are not inviting renewals on any pub or hotel business as its basically toxic due to the claims environment. I wouldn't be at all surprised to see them exit the market altogether.

All the fanfare they had when they launched first about giving motorists a fair deal has stopped because they now realise that the motor insurance industry in Ireland is septic.

FBD could be in bother too if the article in yesterdays Farmers Journal is to be believed.

But of course, the insurance companies are all lying about claims going up and their efforts to stem the flow of claims is just a ruse as they need more cash for the money fights.

Not saying the above isn't the case, but weren't they all warned/ordered recently (by whom I can't remember - courts maybe? or ombudsman?) to up their cash reserves in a big way, as they were all sailing far too close to the wind?

What was said in the Farmer's Journal?

debabyjesus

Business Cat wrote: »

I'd suggest people be wary of Patrona

I was wary, thats why I stuck with the more expensive fbd. The missus policy is also fbd with a 110% increase. The staff on the phones were nice but were mortified and pretty much turned into stuttering mumbling idiots when asked for justification for the increase.

Liam McPoyle

jimgoose wrote: »

Hmm. What is it exactly that makes the motor insurance industry in Ireland "septic"?

The large number of people that are happy to make exaggerated / fabricated claims coupled with the obscene court awarded payments.

jimgoose

Business Cat wrote: »

The large number of people that are happy to make exaggerated / fabricated claims coupled with the obscene court awarded payments.

And there is no tendency for people to "try it on" like that in other jurisdictions? It's just us plebs, shoving the poor little insurance industry's head down the toilet-bowl while going "Nyaaah! Your mother wears army boots!!" and sending the poor little tyke running home bawling?? :pac:

Liam McPoyle

HeidiHeidi wrote: »

Not saying the above isn't the case, but weren't they all warned/ordered recently (by whom I can't remember - courts maybe? or ombudsman?) to up their cash reserves in a big way, as they were all sailing far too close to the wind?

What was said in the Farmer's Journal?

Its an EU directive called Solvency II.

It said that FBD will have to sell off some of their investment assets (hotels and what not) in order to be compliant.

Liam McPoyle

jimgoose wrote: »

And there is no tendency for people to "try it on" like that in other jurisdictions? It's just us plebs, shoving the poor little insurance industry's head down the toilet-bowl while going "Nyaaah! Your mother wears army boots!!" and sending the poor little tyke running home bawling?? :pac:

Why the need for straw manning?

McGrath5

Jesus lads, some people are seeing insane increases. I thought I was doing bad at €470.

jimgoose

Business Cat wrote: »

Why the need for straw manning?

Just answer the question. Are we the only nation in the developed world that tries it on with insurance claims? If so, what are you doing about it aside from blunderbussing ordinary decent ratepayers with insane premia? Personally, I think these famous actuaries would want to pull their collective head out, just as it was when the various sales&marketing departments went on their tear a few years back. :pac:

Nody

jimgoose wrote: »

And there is no tendency for people to "try it on" like that in other jurisdictions? It's just us plebs, shoving the poor little insurance industry's head down the toilet-bowl while going "Nyaaah! Your mother wears army boots!!" and sending the poor little tyke running home bawling?? :pac:

Payout for a "normal" whiplash in UK? About 2k GBP, Germany? About 1k EUR, in Ireland the scale STARTS at 15k EUR for the lowest level...

macplaxton

macplaxton wrote: »

^^^^ with this knowledge

^^^^ but expect that!

Hello? Hello? Welcome to the world of insurance.

Hello? Hello? Welcome to freedom of expression..........

blade1

Business Cat wrote: »

Its an EU directive called Solvency II.

It said that FBD will have to sell off some of their investment assets (hotels and what not) in order to be compliant.

So does this mean Fbd are in a worse position than Patrona?

Wibbs

jimgoose wrote: »

Just answer the question. Are we the only nation in the developed world that tries it on with insurance claims?

No, however we award far more in compensation than other EU jurisdictions.

deathtocaptcha

Was ~€500 last year with liberty, went up to €550 so I shopped around and did a bit of reverse engineering on how they're calculating premiums...

Ended up getting it for €321 with Aviva. From what i can gather, if you're a male, having a partner as a named driver makes a big difference.

I refuse to accept that you can't get a lower premium than a previous year if you haven't had any claims. Just don't give up searching and you'll get something cheaper.

Nody

Nody wrote: »

Please do; and the first time you claim your father's NCB will be set to zero and I'm sure he'll be very happy about that when he gets his new quote esp. as your own NCB will also be zero since you're only named driver (which means no matter what you'll need to build that NCB so simple get it done).

Also the difference is not only are you renewing insurance (it's going up across the board for everyone) but you're also adding additional risk to the yearly quotation (your gf being full year on the insurance).

You're jumping the gun a bit aren't you ? He might never have to lodge a claim.... give the lad a break will ya............. Its not easy for younger people today in any market, everything has a price and much of the regulation that they pay a price for these days didn't exist when I was younger so I never paid those prices... I'm thinking NCT, Legislated Driving Test pre lessons etc. etc. Everything seems to be money, money, money driven...........

Liam McPoyle

blade1 wrote: »

So does this mean Fbd are in a worse position than Patrona?

Nope, FBD are fully regulated by the Central Bank so if they did go tits up the fund financed by the insurance levy would be used to cover claims costs.

There is no danger of them going under IMO, they just have to be compliant, that requires MASSIVE amounts of cash to be held in reserve, something like double their current claims estimates.

Special Circumstances

So Patrona are NOT fully regulated by the Central Bank?
Or is there some other reason you don't like them? Isn't there enough hate for insurers without insurers hating on other insurers?

Business Cat

Business Cat wrote: »

You paid x based on a particular set of circumstances last year.

Those cirumstances changed during the year and as a result your insurance is more expensive at renewal.

If you revert back to the same circumstances as last year you get the same price as last year.

You are doing well to be honest.

Either tell your bird she owes you €200 to stay on the policy or remove her, renew it and see will they add her back on with only the admin charge.

There are very few who are "doing well" as you put it insurance wise. Most of the major global insurance companies nearly went out of business during the global "bust" and it will be another 20 years or so till they catch back up. A la the banks "Joe Public" will pay for this so if you think that's "doing well" then fair play to you...... Giz a set of them blinkers ya have will ya.....

jimgoose

Nody wrote: »

Payout for a "normal" whiplash in UK? About 2k GBP, Germany? About 1k EUR, in Ireland the scale STARTS at 15k EUR for the lowest level...

Wibbs wrote: »

No, however we award far more in compensation than other EU jurisdictions.

This is true, but that didn't just start a couple of years ago, did it? It seems to me that the Sales-'n'-Morkeshing 'droids at various insurers went on a tear a few years back the likes of which hadn't been seen since the Dot-Com fiasco of the early 2000s, actuarial analyses bedamned. Unless the actuarial analysis is just as competent as Ultan Shirt in Sales-'n'-Morkeshing. Hmm...

This whole episode reminds me of the current tizzy the Government appear to be in about all the people hanging around with the cheek to live to the age of 80 or more, as if they'd all just beamed down from space.

jimgoose

Special Circumstances wrote: »

So Patrona are NOT fully regulated by the Central Bank?
Or is there some other reason you don't like them? Isn't there enough hate for insurers without insurers hating on other insurers?

Their motor underwriter is Qudos Insurance A/S which apparently operates here under "EU Passport arrangements" and is regulated in Denmark.

Special Circumstances

jimgoose wrote: »

This is true, but that didn't just start a couple of years ago, did it?

Either we are dealing with extremely slow learners with a very poor grasp of figures and the concepts of cause and effect (plausible, given some of the conclusions reached and the justifications given), or there has been a sudden explosion in fraud in the last 2 years.

the_barfly1

Sorry lads. I got rear ended last year and got €3.5k for injuries and my car was written off. Thought that was more than generous as a first offer from the third parties insurance company. Used that few bob to replace the dead car and my insurance is €150 more expensive this year. My broker quoted me about a tenner more than that but going direct to the same company that they had me with last year (and same company that they presented as best price this renewal) saved me the price of two pints. Saying that, most companies I rang were either €1200+ more expensive or refused to quote (what?!?) (bog standard jap car, 100cc more powerful than irish market equivalent) on a policy with big no claims and no endorsements.
Must have been the small claim i was offered, accepted and didn't dispute that ruined it for everyone (including me).
I'd be interested to hear what sort of policy increases that people responsible for claims are subject to.
Sorry again guys, I'm convinced I must have done something wrong.