Car insurance - massive increase for no reason

Monife · 21-03-2019 4:26pm #1

I'm with Allianz the last few years. Price has always been around €400/450. Small 1L Toyota Yaris, 13 years NCB, no claims ever, no penalty points. Renewal quote €740.

What do you think is the reason for such a massive increase?

amcalester · 21-03-2019 4:28pm

They don't want your business any more.

bazz26 · 21-03-2019 4:28pm

Have you shopped around? Insurance companies neither give or deserve loyalty.

ednwireland · 21-03-2019 4:29pm

how olds the car ?

Monife · 21-03-2019 4:31pm

Oh will definitely be shopping around when I have time, was just wondering why there was such a big increase.

Car is 8 and a half years old.

Autecher · 21-03-2019 4:32pm

Did you ask them why? Not that it matters really they will just blame the old reliable false claims when really it's recouping money from ANY claim they paid out on and pure greed for profits.

theteal · 21-03-2019 4:36pm

Have you had a look at alternatives in previous years?

Monife · 21-03-2019 4:50pm

theteal wrote: »

Have you had a look at alternatives in previous years?

Yes, I shop around every year. Actually last year they quoted €490 and I was annoyed as the previous year was €400 and I thought insurance was supposed to go down each year. So had a look around and iirc the cheapest quote was a couple of hundred above my renewal quote.

Cordell · 21-03-2019 4:55pm

I thought insurance was supposed to go down each year.

After the 3rd hike I was done being surprised when both my NCB years and quote increased

Monife · 21-03-2019 5:02pm

Cordell wrote: »

After the 3rd hike I was done being surprised when both my NCB years and quote increased

It's pretty unfair though. Like each claim and point free year, it shows the risk of insuring you is low/reducing. And insurance premiums are supposed to be based on how risky it is to insure you.

SBPhoto · 21-03-2019 5:09pm

Shop around my insurance went up t o €960 last year with Allianz, was €800 Full NCB and no penalty points. Switched to Avia and got insured for €560 full comp.

Cordell · 21-03-2019 5:17pm

Monife wrote: »

It's pretty unfair though. Like each claim and point free year, it shows the risk of insuring you is low/reducing. And insurance premiums are supposed to be based on how risky it is to insure you.

Yeah, that's our logic, but the quote is a case of computer says so.

The biggest drop in price was when I changed my licence from EU to IE - a piece of plastic seems to be much more important than 6 or 7 years of claim and incident free driving.

coylemj · 21-03-2019 5:29pm

Charlie Weston is the Personal Finance editor for the Irish Independent, I think it's worth posting this tweet of his from last week......

https://twitter.com/CWeston_Indo/status/1105430645923303425

Car insurance - massive increase for no reason

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