Insurance has now got to an absolutely ridiculous price

[robbymax]

20 years driving without any accidents all I want to do is change to an electric vehicle and the insurance as gone from 240 pounds to 650 pounds we only do an estimated 3,000 miles a year what did I do wrong I'll tell you what I grew to an age of 81 years and for that I am penalized, has anyone out there found a way around being a bit old

 

[JimD]

I'm afraid there's only one way to stop getting older, and you won't like it!

 

[okohll]

I've no personal experience yet but Saga advertise themselves as doing cheaper car insurance for old people

 

[JimD]

I find it fairly random - some companies that are more expensive at one renewal can be the cheapest the next time you are due to renew. The best bet is to go on one of the price comparison sites when you get your renewal price from the last provider. This year I went with Churchill as they were the cheapest (that met my needs for excess etc) but last year it was Tesco.

 

[robbymax]

that was a Comparison site they checked out 20 other companies and they range from £650 up to £1500I wondered what the reason was for having to inform DVLA that you've had a pacemaker fitted now I know it's the insurance companies they want to reason to put up your premium not happy

 

[robbymax]

I'm afraid there's only one way to stop getting older, and you won't like it!

thanks Jim d that put a small on your face I'm going to have a look at Saga

 

[GaryMG4]

I looked at Saga when I reached 50, they wanted nearly double the average I was being quoted for my MX5, I didn't bother with them again.

 

[Gadget Geek]

I always use GoCompare and get the £250 excess refund cover. My insurance shot up this year but I thought it was because I had a multicover policy with my son.

 

[robbymax]

Just been to Saga spent half an hour filling in a monster form, and this is a company that is supposed to favor the older generation, and the price is, £895 and 9p. a year ago it was £224 with 20 years Plus no claims discountI guess no claims discount is not applicable anymore what the hell can we do about this

 

[JimD]

I'm guessing it's your health issues that are bumping up the price as much as the age thing.

 

[Gomev]

My insurance is not due until early next year but I thought I would use the comparison sites to get an idea of these price hikes for me.
Current premium is just over £400, which itself was a big rise on the year before but the quotes now for me are well over £650.
No changes to any other factors other than a year older and car worth a bit less. This is not inflation or anything other than plain old profiteering.

 

[tsedge]

Prices are going up a lot for everyone due to problems in the industry: high inflation, inflated second hand car prices feeding through, parts prices, energy costs, customers not buying add-ons and the end of new customer discounts due to new rules.

Why has the price of car insurance gone up so much?

May's data from the Office for National Statistics (ONS) saw motor insurance far outstripping overall inflation - at 43.1% compared to 8.7%.

news.sky.com

 

[Ian Key]

Direct Line are having to pay back £30 million because they didn't adhere to charging existing customers the same as new customers, but it won't be Direct Line paying out as they will just add it to the next years premiums. They also think there might be other insurance companies who will have to do the same.

 

[Vipar]

Direct line upped mine from C£600 to £950. Santander quoted £4,500 and no that’s not a typo

 

[Silver estate]

Well I’m currently with Churchill last year £350 this year would be £550
went on a compare site got it with a broker called Darwin £485 guess who with
Churchill
Mustard were quoting £1k plus’s

 

[maskull]

Well I’m currently with Churchill last year £350 this year would be £550
went on a compare site got it with a broker called Darwin £485 guess who with
Churchill
Mustard were quoting £1k plus’s

After the dealings I had with Churchill this year , I wouldn't touch them with a bargepole ...and didn't . What a bunch of inept muppets

 

[robbymax]

Just done another application Form with a price comparison site don't forget 20 years no claims discount electric EV for third party fire and theft and the cheapest was over 800 pounds well I started life riding to town in a pony and trap and I think I'll go out and buy another

 

[bowfer]

These massive insurance hikes are going to do two things.
One, they’re going to completely discourage new drivers into the world of motoring (kids where I live have gone from £800 to £3000 for their first policy)
Two, more people are going to drive without any cover at all, knowing the risk of being caught can be extremely low (do we actually have police any more?) and even if they are caught, the usual fine is £300 (rising to unlimited in the unlikely event it goes to our swamped courts)
The car industry should put pressure on the insurance industry for my first point alone, discouraging new drivers will mean the eventual end of car sales.

 

[Gadget Geek]

In the long term, the insurance companies are shooting themselves in the foot.

They were told they had to offer the same deal for existing customers as they did for new. So instead of offering exisitng customers lower quotes, they've raised the bar so that everyone gets a higher quote.

As Bowfer says, it will exclude new drivers, which in turn will lower the income to the insurance companies and then they will start going out of business.