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Post by lawrieleslie on Apr 3, 2024 8:05:05 GMT
Had similar with LV. Their renewal premium was up around 40% so went on compare the market stuff and found LV about the most competitive. So rang them and the agent said that premiums had increased because of the expensive gadgetry like parking sensors etc. also lead times for repair was bumping up hire car costs for those opting for them when in for repair. The cost is being spread across the whole sector not just for those more expensive to repair vehicles. She did apply a discount for loyalty which I would imagine agents are given the autonomy to do. When she was doing the admin to renew I asked her about my full no claims discount and she said it’s not as great as it looks because even if you are in a no fault accident your premium will rise because your are then seen as a higher risk to insure.
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Post by auntiegeorge on Apr 3, 2024 13:56:19 GMT
We had a similar experience to Lawrie with Liverpool Victoria when my 91 year old mother's insurance renewed on 31st March. The premium for her 2022 Golf GTI (I kid you not) went up 60%. She drives only 2000 miles a year, mostly at 30-40mph along rural Staffordshire roads. A phone call later and we got down the increase to "just" 35%. Obviously advanced and advancing age play a part here, so we had to go with it, especially as LV seems to be one of the few companies who will insure someone of her age.
I'm trying to get her to switch to a more suitable car but she's not having any of it.
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Post by lordb on Apr 3, 2024 14:22:16 GMT
We had a similar experience to Lawrie with Liverpool Victoria when my 91 year old mother's insurance renewed on 31st March. The premium for her 2022 Golf GTI (I kid you not) went up 60%. She drives only 2000 miles a year, mostly at 30-40mph along rural Staffordshire roads. A phone call later and we got down the increase to "just" 35%. Obviously advanced and advancing age play a part here, so we had to go with it, especially as LV seems to be one of the few companies who will insure someone of her age. I'm trying to get her to switch to a more suitable car but she's not having any of it. Not fitting the profile with car choice there
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Post by ChesterStokie on Apr 3, 2024 15:30:58 GMT
For a bit of balance here:
My insurance premiums for my car (VW T-Roc) have dropped considerably over the last few years and only on my last renewal (November 2023) have they gone back up to what I was paying 5 years ago.
Have had full no claims throughout and always do the price comparison thing to make sure I'm not being over-charged.
2018 £230 2019 £229 2020 £247 2021 £176 2022 £153 2023 £221
I moaned like hell last year but I don't remember thanking my insurance company in 2021 or 2022.
Even with the last increase that's still a good reduction in real terms over the last 5-6 years. Doesn't feel like a rip-off to me.
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Post by questionable on Apr 3, 2024 15:34:08 GMT
We’ve rang around for quotes and best so far is a saving of £32, convinced they’re all using the same prices
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Post by franklin on Apr 3, 2024 15:39:31 GMT
It's definitely outrageous I'm sure its obvious but I use comparison sites to see what comes out best I have no loyalty to any insurance companies at all and go where the cost is least. Swinton put my home & contents insurance up by a ridiculous amount so left only the other week.
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Post by lordb on Apr 3, 2024 16:32:21 GMT
For a bit of balance here: My insurance premiums for my car (VW T-Roc) have dropped considerably over the last few years and only on my last renewal (November 2023) have they gone back up to what I was paying 5 years ago. Have had full no claims throughout and always do the price comparison thing to make sure I'm not being over-charged. 2018 £230 2019 £229 2020 £247 2021 £176 2022 £153 2023 £221 I moaned like hell last year but I don't remember thanking my insurance company in 2021 or 2022. Even with the last increase that's still a good reduction in real terms over the last 5-6 years. Doesn't feel like a rip-off to me. Super low
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Post by spiderpuss on Apr 3, 2024 16:38:24 GMT
It's why JLR have invented their own insurance - it's subsidised and encourages people to buy their cars/suvs. I personally would ban car insurance - now hear me out - if you had an accident you would have to pay if you were at fault. All cars would have to be fitted with dashcams of course. I predict a lot more careful driving and these companies - fleecing us every moment of the day - would be bankrupt.
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Post by Goonie on Apr 3, 2024 17:29:32 GMT
I think these outrageous renewal quotes work in 3 ways: The first is by trapping the gullible and vulnerable into auto-renewing with a massive windfall for them. Secondly they do it to discourage drivers/vehicles that offer a poor risk or little profit Thirdly new customers may be attracted to a low quote and be willing to move across other policies as well creating more revenue meaning they'd rather have new customers more so than loyal ones
It's crackers but they all seem to do it, and also other industries. It's very short-sighted
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Post by questionable on Apr 3, 2024 17:37:31 GMT
It's why JLR have invented their own insurance - it's subsidised and encourages people to buy their cars/suvs. I personally would ban car insurance - now hear me out - if you had an accident you would have to pay if you were at fault. All cars would have to be fitted with dashcams of course. I predict a lot more careful driving and these companies - fleecing us every moment of the day - would be bankrupt. I thought JLR hadn’t actually created their own insurance company but simply got an over wrighter if that's what they’re called. JLR aren’t selling cars as they’re being stolen massively and JLR are constantly recalling for security updates, I’ve seen insurance prices as high as 26k per year for certain model’s. We were considering a JLR suv but advised by people in the trade to stay well away as the reliability is supposedly shocking.
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Post by spiderpuss on Apr 3, 2024 17:39:25 GMT
It's why JLR have invented their own insurance - it's subsidised and encourages people to buy their cars/suvs. I personally would ban car insurance - now hear me out - if you had an accident you would have to pay if you were at fault. All cars would have to be fitted with dashcams of course. I predict a lot more careful driving and these companies - fleecing us every moment of the day - would be bankrupt. I thought JLR hadn’t actually created their own insurance company but simply got an over wrighter if that's what they’re called. JLR aren’t selling cars as they’re being stolen massively and JLR are constantly recalling for security updates, I’ve seen insurance prices as high as 26k per year for certain model’s. We were considering a JLR suv but advised by people in the trade to stay well away as the reliability is supposedly shocking. I've not had any experience of them, but all complicated cars I'd imagine can be problematic. Almost certainly they are underwritten, not sure who it is.
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Post by spiderpuss on Apr 3, 2024 17:42:44 GMT
I think these outrageous renewal quotes work in 3 ways: The first is by trapping the gullible and vulnerable into auto-renewing with a massive windfall for them. Secondly they do it to discourage drivers/vehicles that offer a poor risk or little profit Thirdly new customers may be attracted to a low quote and be willing to move across other policies as well creating more revenue meaning they'd rather have new customers more so than loyal ones It's crackers but they all seem to do it, and also other industries. It's very short-sighted My take is that they got caught out by the new rule which stated that new policies can't be any cheaper/expensive than current ones. It stopped all that meerkat shenanigans and so checking on line for the best deal is probably only a good idea if the car is a different model or you are a new driver (God forbid the prices on that one). It would seem they've had a little chin-wag between them and pumped the prices up accordingly for everyone. Parking sensors and other stuff have been in cars a long time, so I'm not convinced it can all be blamed on those features.
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Post by questionable on Apr 3, 2024 17:48:54 GMT
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Post by auntiegeorge on Apr 3, 2024 18:20:49 GMT
We had a similar experience to Lawrie with Liverpool Victoria when my 91 year old mother's insurance renewed on 31st March. The premium for her 2022 Golf GTI (I kid you not) went up 60%. She drives only 2000 miles a year, mostly at 30-40mph along rural Staffordshire roads. A phone call later and we got down the increase to "just" 35%. Obviously advanced and advancing age play a part here, so we had to go with it, especially as LV seems to be one of the few companies who will insure someone of her age. I'm trying to get her to switch to a more suitable car but she's not having any of it. Not fitting the profile with car choice there Well it was the last car my father bought before he died in 2022. About two months before. She has a sentimental attachment to it for that reason, and the fact that they were married for 66 years.
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Post by thebet365 on Apr 4, 2024 9:04:59 GMT
Had my renewal through yesterday, Last year paid £318 this year they want £382. So far I've got it down to £344 on compare the market but not pulled the trigger yet.
Love the annual conversation with the tele sales people when I ring up to cancel the renewal.
"If you'd have rang us before taking insurance elsewhere we might have been able to beat the price you've paid" "If you'd have sent me a competitive renewal price in the 1st place I wouldn't have gone looking would I?"
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Post by questionable on Apr 4, 2024 12:03:55 GMT
I’ve just rang Admiral and a pre recorded message stating welcome to Admiral and then part of the “loads of other insurances group” my suspicion was correct it’s a friggin monopoly and we’re being robbed blind.
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Post by dirtygary69 on Apr 4, 2024 12:18:37 GMT
For a bit of balance here: My insurance premiums for my car (VW T-Roc) have dropped considerably over the last few years and only on my last renewal (November 2023) have they gone back up to what I was paying 5 years ago. Have had full no claims throughout and always do the price comparison thing to make sure I'm not being over-charged. 2018 £230 2019 £229 2020 £247 2021 £176 2022 £153 2023 £221 I moaned like hell last year but I don't remember thanking my insurance company in 2021 or 2022. Even with the last increase that's still a good reduction in real terms over the last 5-6 years. Doesn't feel like a rip-off to me. Are you driving 6 miles a year?
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Post by mickeythemaestro on Apr 4, 2024 12:29:30 GMT
For a bit of balance here: My insurance premiums for my car (VW T-Roc) have dropped considerably over the last few years and only on my last renewal (November 2023) have they gone back up to what I was paying 5 years ago. Have had full no claims throughout and always do the price comparison thing to make sure I'm not being over-charged. 2018 £230 2019 £229 2020 £247 2021 £176 2022 £153 2023 £221 I moaned like hell last year but I don't remember thanking my insurance company in 2021 or 2022. Even with the last increase that's still a good reduction in real terms over the last 5-6 years. Doesn't feel like a rip-off to me. Bloody hell. That's cheap as chips. In fact a large portion of chips once a wayk wouldn't be far off those prices. I live in Whalley Range Manchester and to insure a 3 series bmw costs me 1400 odd quid a friggin year. Off road and locked gate as well. Scandalous....
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