Ridiculous insurance hikes

Warbeastrior · 21-04-2021 4:38pm #1

Last year's insurance quote was â‚¬450.
Renewal quote was â‚¬500.

How is this allowed after a me going from 5 years to 6 years no claims bonus and the fact that I have barely used the car compared to most years due to the pandemic.

Nowhere else is even coming close to â‚¬450.

Dr_Colossus · 22-04-2021 1:13pm

Better than what I could get. Paid 485 last year (455 after a token €30 cashback from Covid inactivity) Renewal this year at 552 and despite trying every other company couldn't beat that, prices elsewhere ranged from 575 to 1,452 and all those just for TPFT with full NCB of 9+ years.

Padre_Pio · 22-04-2021 1:19pm

Warbeastrior wrote: »

Last year's insurance quote was €450.
Renewal quote was €500.

How is this allowed after a me going from 5 years to 6 years no claims bonus and the fact that I have barely used the car compared to most years due to the pandemic.

Nowhere else is even coming close to €450.

Last year must have been a bumper profit year for insurance companies. Everyone at home, no one driving, no one out in pubs and clubs, sports cancelled, yet here we are with more insurance increases.

Allinall · 22-04-2021 1:23pm

Padre_Pio wrote: »

Last year must have been a bumper profit year for insurance companies. Everyone at home, no one driving, no one out in pubs and clubs, sports cancelled, yet here we are with more insurance increases.

Insurance companies work roughly on a six or seven year cycle.

Last year, they would have been settling claims from the previous five or six years, so may not have had a profitable year at all.

The benefits of low claims last year won't feed into premiums for a few more years to come.

JimmyVik · 22-04-2021 1:25pm

Mine was €460 last year.
It was €350 this year.
Nothing changed apart from me getting a year older.
Ive been driving somehwhere between 25 and 30 years

Henry Ford III · 22-04-2021 3:28pm

Warbeastrior wrote: »

Last year's insurance quote was €450.
Renewal quote was €500.

How is this allowed after a me going from 5 years to 6 years no claims bonus and the fact that I have barely used the car compared to most years due to the pandemic.

Nowhere else is even coming close to €450.

There's no obligation that any motor renewal should be the same or lower than the previous year.

It's up to you to find a better option.

biko · 22-04-2021 5:28pm

Shop around. Insurers are not your friends - if they can squeeze you for a few euros more they will.

con747 · 22-04-2021 5:35pm

Ring them and tell them you got a better quote €30 less than they charged you last year and if they can come close to matching it you won't bother with the hassle of changing companies. Works for me most of the time. Just don't mention the name of the other fictitious company! If that fails spend the annual half a day company surfing for the best quote.

Ridiculous insurance hikes

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