Motor insurance - 2 year policy

Logo

My car insurance policy is up for renewal shortly but my premium with AA has increased significantly. I've shopped around and have been offered a competitively priced policy over a 2-year period with blueinsurance.ie. Their one year policy is also competitively priced. Just wondering if other posters are familiar with a 2-year policy or if there are any pros/cons involved. The only downside I can see is if I change the car within the next two years then I won't be able to shop around for a more competitive quotation.
Thanks in advance.

Aint Eazy Being Cheezy

Pay in instalments. That's a risky strategy, 2 year premiums. 1 bad year of claims and no wave of renewals and blue insurance could be the next setanta.

Logo

Thanks for reply and valid point. But paying in instalments will shove the premium up to current cost. Agreed that it's a a risky strategy. Might just go with one year policy...

bazz26

Personally I'd only ever go with one year as I like to shop around when it matures. Locking you into 2 years means you don't have the choice to shop around for a cheaper quote at the end of the first year.

Logo

Thanks. In my 20+ years of shopping for car insurance I've yet to see a reduction. AXA gave me an online quote of €840 - for a full licence 20+ years driving with no penalty points/ convictions etc. They rang the next day to check if it was ok:)

Cee-Jay-Cee

Logo wrote: »

Thanks. In my 20+ years of shopping for car insurance I've yet to see a reduction. AXA gave me an online quote of €840 - for a full licence 20+ years driving with no penalty points/ convictions etc. They rang the next day to check if it was ok:)

I have been driving over 25 years now. In that time I have moved insurance companies probably around 20 times as I always hit a better quote elsewhere.

_Brian

27 years on a full licence here, no claims, 2 points (down from 6).

Insurance renewal is up by 70%

Am shopping round now and 50% increase is best I can do so far, with it's for women.ie, ironic since I'm a 43 yo male.

listermint

Logo wrote: »

Thanks. In my 20+ years of shopping for car insurance I've yet to see a reduction. AXA gave me an online quote of €840 - for a full licence 20+ years driving with no penalty points/ convictions etc. They rang the next day to check if it was ok:)

There is literally no chance in 20 years of car insurance shopping that you are yet to see a reduction.

You strike me as the type of person who gets 1 quote 2 at a stretch and takes the best of the 2.

Sure if you want to piss money into the wind go ahead, insurers love that type of customer as you end up going back to the other guy next year and then the other guy the year after.


You have a phone ? Phone 10 insurers (at a minimum 6) it will take you about half an hour in total and save you alot of money.

Of course if you dont like money then dont. Up to you.

pheelay

listermint wrote: »

There is literally no chance in 20 years of car insurance shopping that you are yet to see a reduction.

I took the opposite meaning to that post. OP has never seen a renewal letter arrive with a reduced price, so shops around every year like the rest of us.

I'm avoiding this 2 year policy thing given that premiums are now at an all-time high. We can always hope that by this time next year, the market has a bit of sense knocked into it. If that were to somehow miraculously happen, I'd rather not be locked into a 2 year contract at 2015 prices, for the sake of €50.

Fred Swanson

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Tweaky

I did take the 2 year policy with Blue Insurance - their premium was the lowest I had seen in 20+ years of driving so I was quiet happy to lock into a 2 year deal.

The only strange thing i did notice the other day when taxing my car was that the motortax website couldn't accept an insurance policy that had more than 13 months left to expiry date

Fred Swanson

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hoodie6029

Premiums aren't going anytime soon because of the rules governing how the companies are funded.
I'll be going for the 2 year policy on renewal. Nothing more soul destroying than ringing insurer after insurer...