motor insurance increases

[devonwoody]

I had to shop around this morning, 25 to 50% increases tried on me this morning.

Finally got Saga to quote plus 5%
Finished up £228 fully comp.including legal.

 

[monkeybiter]

That sounds like a good price dw, I'm 54 but I haven't found Saga very competitive. The same goes for holidays too FWIW

 

[--Tom--]

Recent changes to Ogden rate has meant everyone is putting prices up, shopping around and then a few calls to get the best prices should avoid too much of a hike though

 

[Cordy]

Devon,

Finished up £228 fully comp. including legal.

For what car ?

Just received LV renewal for our second car, 4 year old Ford Fiesta; max no claims, me and wife named drivers
less than 5,000 miles fully comp for

£258.92
Is that reasonable ? or do I need to start looking :roll: :roll:

 

[devonwoody]

Well thats £30 dearer than mine and I am 80 this year and they dont usually like us older drivers

 

[Student]

As Tom mentions, insurance companies are about to get a big hit on their reserves as a result of changes to the way that they have to allow for personal injury claims. Years ago, claimants and insurance companies used to argue in Court about the appropriate lump sum to pay for years' worth of care packages. The Ogden tables were brought in to avoid expensive lawyers' fees and fix the amount of any lump sum, a bit like buying a pension. The trouble is that the underlying basis for the calculations hadn't been updated for years and with interest rates currently being about 0.5% and inflation 2.5%, the calculations are now to be based on a negative net interest rate. If the changes go through then insurers such as Aviva face a potential "hit" of up to £500 million. Not only that, but the NHS could end up being worse off by over £1billion for negligence claims.

So what with recent changes to Insurance Premium Tax, don't expect insurance premiums to go down, they can only go up. However, shopping around always pays.

 

[andersonec]

Devon,

Finished up £228 fully comp. including legal.

For what car ?

Just received LV renewal for our second car, 4 year old Ford Fiesta; max no claims, me and wife named drivers
less than 5,000 miles fully comp for

£258.92
Is that reasonable ? or do I need to start looking :roll: :roll:

If you put the insurance in her name it will come down in price.

Andy

 

[devonwoody]

I'll try that next year.

 

[Lons]

Mine at last renewal, in November was £203 for a (then) 3 month old Audi A6 quatro avant for full comp, legal and loan car covering 7000 pa. I'm 67, retired and ins via Aviva with max ncb.
After discussions with them I added my wife's new Mini cooper clubman estate to the same policy (separate names, ncb etc ) and saved about £50 on hers. Both cars have us both as named drivers.

Asn aside, I have never yet had a decent quote from SAGA for anything and that includes house and travel insurance so a waste of time as far as I'm concerned. They were nearly £80 more for my car. :roll: I always come off the phone or computer wishing I'd done something better with my time.

I never allow automatic renewal by any company and always phone around for quotes, neither do I use comparison sites as I prefer dealing with the organ grinders rather than the monkeys. :lol:

Bob

 

[devonwoody]

Lons, that was a very good quote, I have never got a good quote out of that company, do you have other business connections with them. and they want to hold you.

 

[Lons]

Lons, that was a very good quote, I have never got a good quote out of that company, do you have other business connections with them. and they want to hold you.

Hi DW

No connections although my father in law worked for the Commercial Union prior to Norwich Union then Aviva takeovers but that was 30 years ago and they didn't know anyway.

I had been a longstanding loyal customer because of him until one year they zapped the price on our house insurance up by a huge amount despite no claims and then knocked the whole increase back off when I dispute it. I said that was underhand and they could get stuffed so didn't use them again for a few years. I currently do have multi policy discount as the house and travel insurance is with them as well but only because they were the best deal.
When I renewed the one for my car last year they were a bit more expensive than LV but matched when I told them otherwise I'd have moved.

I wouldn't normally switch for just a few pounds as policies aren't always equal so it's just a case of playing one off against the others. What none of them seem to understand is that it's much cheaper to keep existing customers than get new ones and it's about time they gave loyal customers full discounts so they don't shop around instead of ripping them off.

cheers
Bob

 

[devonwoody]

Yes you got a good deal, perhaps its Northumberland that appeals to them, statistics I expect are favourable up there.

 

[Cordy]

If you put the insurance in her name it will come down in price.

Andy

Already in the good wife's name

I will use comparison sites and see how that goes
Insurance renewals are an annual battle to get a decent quote

Our house is insured with contents for a ridiculously low figure after telling my life history to a comp. site

Fortunately they hold all the data for the following year's scrum down :lol:

PS if daughter in Law passes her driving test we will be giving the Fiesta to her and just keep the Merc -- which we bought new in 1999