Car insurance renewal

[colsky]

I'm now at the time to renew the insurance on my MG4, and am astounded by the increase.

Last year the premium for my old MGZS EV was £274. When I got my new MG4 in November 2022 the premium was £283, and I was very happy with this. Because I tied this in with a multi car policy with my wife's car, the premium was pro rated down to run until June 2023. I have now had the renewal quote (with Admiral) and its up to £515! So an 81% increase!! I've gone online to get a few quotes, and this £515 isn't that high compared to others.

I know car insurance premiums have risen, but this seems an overlarge increase! Question for the forum - does £515 seem very high for a 58 year old, with no previous convictions or accidents, and 20+ years of no claims?

 

[KH11]

I'm now at the time to renew the insurance on my MG4, and am astounded by the increase.

Last year the premium for my old MGZS EV was £274. When I got my new MG4 in November 2022 the premium was £283, and I was very happy with this. Because I tied this in with a multi car policy with my wife's car, the premium was pro rated down to run until June 2023. I have now had the renewal quote (with Admiral) and its up to £515! So an 81% increase!! I've gone online to get a few quotes, and this £515 isn't that high compared to others.

I know car insurance premiums have risen, but this seems an overlarge increase! Question for the forum - does £515 seem very high for a 58 year old, with no previous convictions or accidents, and 20+ years of no claims?

When you say you have gone on line have you tried all the comparison sites. For my swap of the car on Friday I found Money supermarket to be the cheapest for the policy I went for

 

[johnb80]

New MG5, £375 with Direct Line.

 

[colsky]

When you say you have gone on line have you tried all the comparison sites. For my swap of the car on Friday I found Money supermarket to be the cheapest for the policy I went for

Not all yet, but Money Supermarket was the first I tried, and that was around £500 too.

 

[KH11]

Not all yet, but Money Supermarket was the first I tried, and that was around £500 too.

I am currently with AA and they wanted over £500 so through money supermarket I managed to creep under £400 with Saga. Fully comp, NCD protected

 

[siteguru]

I was with Admiral previously. Adding it as Multicover (we have home insurance with them) gave me a pro-rated annual premium of about £375. This year (insurance has just started from June 1st) they were wanting £580 ish for the car. After I called they would haggle down to £440 ish but no lower ... a Meerkat check gave me £270 with Aviva Zero - guess who I went with.

 

[Themist0]

I’m with admiral and for the next 6 months I paid £300, they applied all the NCD as I was already a customer and I was keeping my other car. I also used money supermarket and was getting the 550+ quotes. I’m 63 have to pay more for the privilege of being retired!
I pay about £400 a year for a 17 year old land rover discovery, so figured approx £600 a year for a 33k car was about right.

 

[Grriff]

I was with Admiral previously. Adding it as Multicover (we have home insurance with them) gave me a pro-rated annual premium of about £375. This year (insurance has just started from June 1st) they were wanting £580 ish for the car. After I called they would haggle down to £440 ish but no lower ... a Meerkat check gave me £270 with Aviva Zero - guess who I went with.

I went with Aviva Zero after Directline upped my premium and I checked on Meerkat. Saved around £100 on my Jazz. Due to take delivery of an MG4. The new premium will be interesting...

 

[AidanTM]

Just moved from Admiral who wanted £750 to MoreThan at £550. Could have got it a bit cheaper but by the time I added legal cover etc MoreThan was the best value for me. I've only got 3 years NCD so hopefully it will drop in a couple of years ?

 

[NewMG4me]

The problem is probably the unknown repair costs of an MG4 - until that becomes more clear premiums will be high(er).
I'm glad mine's a company lease, insurance etc all covered.

 

[KH11]

I went with Aviva Zero after Directline upped my premium and I checked on Meerkat. Saved around £100 on my Jazz. Due to take delivery of an MG4. The new premium will be interesting...

I am currently with AA for my current car and paid just over £212 for fully comp, ncd protected with legal protection. Now paying £396 with same coverage for the MG4. We will see how it pans out at renewal next year.

 

[Ian Key]

The ideal notice to give insurance companies to give a competitive quote is three to four weeks, but as in most cases they are only given a weeks notice, the quotes are higher.

 

[siteguru]

My cover is fully comp Social, Domestic and Pleasure. (No Commuting, as I'm retired). I didn't take any of the add-ons, but voluntary excess is £0. I also declared 0 NCD (as I'd only been with Admiral for 7 months and didn't know what NCD they would give me - as it happens they gave me 1 year, but hey ho. I came to the MG4 from a company car so I hadn't had any personal car insurance for 12 years). As I said earlier, this policy was ~£270.

 

[NewMG4me]

My cover is fully comp Social, Domestic and Pleasure. (No Commuting, as I'm retired). I didn't take any of the add-ons, but voluntary excess is £0. I also declared 0 NCD (as I'd only been with Admiral for 7 months and didn't know what NCD they would give me - as it happens they gave me 1 year, but hey ho. I came to the MG4 from a company car so I hadn't had any personal car insurance for 12 years). As I said earlier, this policy was ~£270.

One of the few benefits of being 'senior' ? My MX-5 (2.0L petrol) insurance was less than £150 for the same reason

 

[Kithmo]

My ZS was £168 last year, LV with multicar discount. I checked on GoCompare to see what the 4 would be and the cheapest was £274. LV wasn't on there. When I changed over to the 4 with LV with 5 weeks left on the policy it cost me £1.65 plus the £15 admin fee, so I'm hoping my renewal will be around the £200 mark with LV and my multicar discount.

 

[KH11]

The ideal notice to give insurance companies to give a competitive quote is three to four weeks, but as in most cases they are only given a weeks notice, the quotes are higher.

Normally that is how I would operate with an existing car I was keeping but sometimes you can’t have that time when getting a new one and for me to get an accurate quote I had to wait for a registration number to be advised