No change in insurance premium after passing the test

Lily_Aldrin7

Hey,

I passed my test a few weeks ago and today I finally got a reply from my insurance company that they received my full licence but there is no change to my premium I paid 2000 and I was hoping it would go down. My insurance is valid until the end of August, this is my second year driving and my car is 1.2 2005. Does anyone have an idea if it will be still this high when I’m renewing it? I thought full drivers get much cheaper insurance

Alanstrainor

Lily_Aldrin7 wrote: »

Hey,

I passed my test a few weeks ago and today I finally got a reply from my insurance company that they received my full licence but there is no change to my premium I paid 2000 and I was hoping it would go down. My insurance is valid until the end of August, this is my second year driving and my car is 1.2 2005. Does anyone have an idea if it will be still this high when I’m renewing it? I thought full drivers get much cheaper insurance

That's a pain. But there is not too long left in the policy. Hold out until renewal time and then shop around is your best bet. Never ever just go with the renewal the insurance company gives as you'll more often than not find it cheaper shopping around.

Now shopping around is a bit of an ordeal in itself, it involves calling all brokers and insurance companies in Ireland, but it will save you money. Check here for a list of insurers to call in August:
https://www.boards.ie/vbulletin/showthread.php?t=2057619504

Lily_Aldrin7

Alanstrainor wrote: »

That's a pain. But there is not too long left in the policy. Hold out until renewal time and then shop around is your best bet. Never ever just go with the renewal the insurance company gives as you'll more often than not find it cheaper shopping around.

Now shopping around is a bit of an ordeal in itself, it involves calling all brokers and insurance companies in Ireland, but it will save you money. Check here for a list of insurers to call in August:
https://www.boards.ie/vbulletin/showthread.php?t=2057619504

Thank you so much, that’s really helpful!

sammyjo90

Mine only went down like 100 when I passed...the first renewal after that it went from around 1600 to 1100...hoping in august I'll finally get to 3 digits!!

Shopping around like they said above is the only way to get it a bit lower

Lily_Aldrin7

sammyjo90 wrote: »

Mine only went down like 100 when I passed...the first renewal after that it went from around 1600 to 1100...hoping in august I'll finally get to 3 digits!!

Shopping around like they said above is the only way to get it a bit lower

Thanks! I guess my expectations were unrealistic ☹️

wexie

Lily_Aldrin7 wrote: »

Thanks! I guess my expectations were unrealistic ☹️

No your expectations were fine. The market is ****ed :mad:

Marcusm

Lily_Aldrin7 wrote: »

Hey,

I passed my test a few weeks ago and today I finally got a reply from my insurance company that they received my full licence but there is no change to my premium I paid 2000 and I was hoping it would go down. My insurance is valid until the end of August, this is my second year driving and my car is 1.2 2005. Does anyone have an idea if it will be still this high when I’m renewing it? I thought full drivers get much cheaper insurance

In the U.K. it’snot Uncommon for insurance to go up after passing the test; why? Because you can now drive unaccompanied and might actually be a greater insurance risk!

monkeyslayer

It's quite late into your insurance year so theyve already made their money on you and know youre not going elsewhere if they don't drop it, it probably would have dropped if you were only a few months in. If only to stop you cancelling and going cheaper elsewhere. Mine dropped from 3k to 2k when I passed as I'd only been insured 3 months, when I renewed the following year my insurance was 700.

Amouar

monkeyslayer wrote: »

It's quite late into your insurance year so theyve already made their money on you and know youre not going elsewhere if they don't drop it, it probably would have dropped if you were only a few months in. If only to stop you cancelling and going cheaper elsewhere. Mine dropped from 3k to 2k when I passed as I'd only been insured 3 months, when I renewed the following year my insurance was 700.

So If I buy a car now and pass the test in 2 months, I have a high chance that they'll decrease the price? Also, out of curiosity, what's the engine size and year of your car?

Did you renew your licence with the same company or you moved to another one?

Thanks!

Agent Smith

I got a reduction of 37 euro from Boxymo when I passed in March (insurance is up in July)

I spent it on petrol.

monkeyslayer

Amouar wrote: »

So If I buy a car now and pass the test in 2 months, I have a high chance that they'll decrease the price? Also, out of curiosity, what's the engine size and year of your car?

Did you renew your licence with the same company or you moved to another one?

Thanks!

Yes in theory, if you insure your car now in two or three months you might. look into their cancellation policy and youll get an idea of what you could possibly get back if you were to cancel and possibly go to another insurance company when you pass. What you can get back reduces fast over time to virtually nothing in the second half of the year. Insurance company wont want to refund you anything so their best bet is to offer you a bit back in the hope that yiu won't go shopping elsewhere. Iv used kennco insurance which have been very good but I'm not exactly a young driver etc so my criteria may differ etc

Alanstrainor

Just keep in mind that there's no guarantee that your premium will come down once you pass. It should, but it doesn't mean it will. You are at the mercy of the insurance company really. And canceling means you miss out on your NCB for that year, perhaps not a huge issue if you only have 2 months on the policy, but worth considering all the same.