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Car insurance - massive increase for no reason

  • 21-03-2019 5:26pm
    #1
    Monife
    Registered Users Posts: 3,014 ✭✭✭


    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?


Comments

  • #2
    amcalester
    Closed Accounts Posts: 4,121 ✭✭✭amcalester


    They don't want your business any more.


  • #3
    bazz26
    Registered Users Posts: 51,111 ✭✭✭✭bazz26


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


  • #4
    ednwireland
    Registered Users Posts: 14,282 ✭✭✭✭ednwireland


    how olds the car ?

    My weather

    https://www.ecowitt.net/home/share?authorize=96CT1F



  • #5
    Monife
    Registered Users Posts: 3,014 ✭✭✭Monife


    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.


  • #6
    Autecher
    Closed Accounts Posts: 1,960 ✭✭✭Autecher


    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.


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  • #7
    theteal
    Registered Users Posts: 7,593 ✭✭✭theteal


    Have you had a look at alternatives in previous years?


  • #8
    Monife
    Registered Users Posts: 3,014 ✭✭✭Monife


    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.


  • #9
    Cordell
    Registered Users Posts: 5,770 ✭✭✭Cordell


    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 :)


  • #10
    Monife
    Registered Users Posts: 3,014 ✭✭✭Monife


    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.


  • #11
    SBPhoto
    Registered Users Posts: 544 ✭✭✭SBPhoto


    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.


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  • #12
    Cordell
    Registered Users Posts: 5,770 ✭✭✭Cordell


    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.


  • #13
    coylemj
    Registered Users Posts: 25,326 ✭✭✭✭coylemj


    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


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