Car Insurance

[Crazyface]

I'm on the search for a new (second hand) car. As I find one I like the look of I check the insurance. Good grief. There's been a bit of a jump recently. I even checked my own car to compare as I'm looking at a Ford and I drive a Toyota so was expecting nothing more than at least the same, even that's jumped by £80!!!! What's going on?????

PS Don't think it's the price. The car I'm looking at is £850.

 

[Lord Tyrion]

Didn't the govt change the rules recently on payouts for long term injuries following accidents? The calculation adjustment means that insurance companies will have to pay out more. This will be passed on to the customer, ie you and me.

 

[Fish]

I had hikes with Admiral, Halifax and Kwik Fit with all our vehicles late last year and I almost halved all their new quotes by moving to Hastings Direct.

 

[CliveW]

Personally my insurance went down this year, but perhaps the fact that the car you are considering is not worth much the insurance companies think it is a higher risk. Incidentally when it comes to renewal I always shop around as automatic renewal is nearly always high.

 

[Crazyface]

I had hikes with Admiral, Halifax and Kwik Fit with all our vehicles late last year and I almost halved all their new quotes by moving to Hastings Direct.

That's who I'm with at the moment!!!! I used my own car to get a comparison quote and HD came in best (again) but £80 up !!!! Jesus H !!!!

 

[Fish]

That's who I'm with at the moment!!!! I used my own car to get a comparison quote and HD came in best (again) but £80 up !!!! Jesus H !!!!

I was always told that the renewals came from the underwriters, hence the hikes, when you go back to the broker they knock it back down again, never accept a renewal at face value, always go back to your broker.

 

[Deleted Member 1156]

LT is correct, there is a new rate of tax coming into effect that deals with personal injury claims. I work for an insurance company (albeit in the IT dept) and our profits have taken a big hit this year as a result. Also, the premium is based on the repair cost of the car not it's value. Older cars are often more expensive to repair due to lack of new parts etc.

 

[chellie]

LT is correct, there is a new rate of tax coming into effect that deals with personal injury claims. I work for an insurance company (albeit in the IT dept) and our profits have taken a big hit this year as a result. Also, the premium is based on the repair cost of the car not it's value. Older cars are often more expensive to repair due to lack of new parts etc.

I've just swapped mine from a 1994 reg car to a 2005 one and the insurance is dearer

 

[USER1999]

Insurance is a rip off, but then they cant repair an old car with 2nd hand parts. Seriously? No. A 950£ car will still get new panels. Non safety critical parts are still new. Its daft.

 

[Dando]

I was always told that the renewals came from the underwriters, hence the hikes, when you go back to the broker they knock it back down again, never accept a renewal at face value, always go back to your broker.

unless you have very specific needs I wouldn't recommend using a broker for car insurance and I'm an insurance broker (albeit commercial and professional lines).

change every year to get the new business deals as they have targets to hit so offer good rates. they aim to claw it back over the next 4 years not that most stay for that long!

 

[Neilds]

You also need to remember that it is not just your car that may get damaged in an accident. A slight shunt into the back of a new car may be expensive due to parking sensors/cameras/radars and what ever other gizmos are in the cars to make it easier for lazy people to drive!😏
Even knocking a wing mirror off nowadays can be pricey if they have cameras fitted

 

[Imurg]

You also need to remember that it is not just your car that may get damaged in an accident. A slight shunt into the back of a new car may be expensive due to parking sensors/cameras/radars and what ever other gizmos are in the cars to make it easier for lazy people to drive!😏
Even knocking a wing mirror off nowadays can be pricey if they have cameras fitted

Mirrors are so over-engineered it's ridiculous.
Apart from the glass you can have a motor to adjust it, a motor to fold it, an indicator, heating element......All in something that breaks off if you sneeze on it...

 

[Crazyface]

I always use a comparison site when looking for insurance cost before buying a car just to check that the insurance isn't bonkers as that would put me right off. I used one such site to check on what it would be for me to insure a car I was looking at, comparable to the one I'm driving and it was up by £80, so I check MY OWN CARS REG on the same site and even THAT WAS UP £80 !!!!

 

[Crazyface]

PS....and that's a 25% increase!!!!!! Good Luck with your next insurance quotes everyone!

 

[USER1999]

I have just reinsured mine, and am paying pretty much what i paid last year. No haggling, just a decent offer. Did the usual comparison thing, and nothing worth changing to.

 

[Crazyface]

Hmmmm, I wonder why mines gone up?