just had my car renewal in and have had a 103% increase in my premium

[turkuss]

bit off topic I know but just had my car renewal in and have had a 103% increase in my premium no reasons given.
but after doing some research it seems one of the driving factors is EV vehicles pushing all motor insurance cover up.

 

[TheStammeringBiker]

bit off topic I know but just had my car renewal in and have had a 103% increase in my premium no reasons given.
but after doing some research it seems one of the driving factors is EV vehicles pushing all motor insurance cover up.

I just had my renewal through for the car, gone from £323 to £472 with no explanation given. Suffice to say I won’t be renewing, apparently that’s the “best they can offer me”.

 

[Joe85]

bit off topic I know but just had my car renewal in and have had a 103% increase in my premium no reasons given.
but after doing some research it seems one of the driving factors is EV vehicles pushing all motor insurance cover up.

Which shows just how much of a swindle the whole industry is.

 

[JohnnyBoxer]

bit off topic I know but just had my car renewal in and have had a 103% increase in my premium no reasons given.
but after doing some research it seems one of the driving factors is EV vehicles pushing all motor insurance cover up.

Yep, we're paying for it
Just like our energy bills - £20 is being stuck on everyone's bill to cover the bad debt incurred by non payers and therefore the energy company is thus covered and underwritten by all of us
Call it a social tax
Glad I am on oil and wood, here and therefore not as badly affected as those on gas

 

[Morety]

I just had my renewal through for the car, gone from £323 to £472 with no explanation given. Suffice to say I won’t be renewing, apparently that’s the “best they can offer me”.

It happens every few years to most people who don't switch. I had my car insurance renewal go from £302 to £630 for the same cover with no explanation so called them yesterday. I remained calm and reasonable and noted down the usual list of excuses:

• thefts have risen
• there were more accident claims last year than the previous two years (doh!...so lock down had nothing to do with this in 2020?)
• parts prices have risen
• used car values have gone through the roof affecting market valuations

OK. The last one is partly true but the rest does not account for a 100+ percentage increase. It's a widespread scam and the regulator really ought to look into this as currently there's no legal prevention to charging what they want. It needs to be tighter regulated as does the customer care/service part of insurance administration.

I told them I'd not be renewing, that this happens every two years where existing customers either pay for the discounts given to new customers or they just take the Mick. He signed off saying "good luck getting a cheaper quote!"

20 minutes later I renewed with another company for £347 fully comp. More than last year but given inflation etc, not really too bad for a large SUV. Just shop around. Another thing I found is just use one comparison website as they all use the same companies and underwriters. It doesn't much matter which and saves on the electronic spam mail.

 

[Deleted account 251212001]

bit off topic I know but just had my car renewal in and have had a 103% increase in my premium no reasons given.
but after doing some research it seems one of the driving factors is EV vehicles pushing all motor insurance cover up.

research on the back of a fag packet.

The driving factor is increased costs.

If you think about used car prices they have all shot up, so as a result replacements have gone up in price no matter what is under the bonnet. Also raw materials cost a lot more now, paint, labour, materials, energy costs.

Why are car and van insurance prices increasing?- Admiral

Across the industry, car insurance prices have risen, mainly due to claims costs and rising inflation. We explain why this is happening.

www.admiral.com