High rising costs of car insurance?

[tipsyletti]

Hi :beagle:
I have just moved from one area to another in my city and contacted my insurance company to change my address.



Now I know this city pretty well and the area that I have moved to is about the same as where I did live, if anything I think it probably has a better reputation?
But on changing my address I was then informed that my insurance would rise by £73 per year because of the area I was moving to!

I personally think this is a ploy just to raise car insurance in anyway that the companies can.

I know I could look for alternative insurance companies but as my insurance had only just been re-newed, I do not know how this would have effected my policy if I wanted to change now.

I will definately be looking around next year but I think that all companies are up to the same thing!

Would be interested to find out if any others are having huge costs applied?

tipsy

[Sapphire]

Re: High rising costs of car insurance?

Our car insurance isn't due till August, but I have heard that they are increasing by around 25% the excuse being that there's so many people driving around uninsured that they are compensating by hiking up the costs.
By the time ours renews we'll be married I'm wondering if they will increase it because of that, as they seem to use any old excuse nowadays.
Like you I shall be shopping around this time.

[leclerc]

Re: High rising costs of car insurance?

I would look at price comparison sites and look to see whether you can get it cheaper because you can drive down the cost of insurance by doing so.

[pompeyfaith]

Re: High rising costs of car insurance?

Yes good idea Leclerc, but remember to also get quotes from a couple of insurers that do not use comparison sites as sometimes they can be cheaper.

Also compare the policies and the level of cover you are getting as sometimes the cheapest may not be the best option for you.

[turnerburner]

Re: High rising costs of car insurance?

My insurer, Express Insurance, tried to bump the insurance up on my van this year from £540 to 1200!!! I wouldn't mind if it was a nice van but it's an R reg and i bought it for £380 at the auctions. I now it is not just the cost of replacing your van that is the risk here and many factors contribute but i don't see how insurers can vary so much with their prices!?

I have now gone with Acorn Insurance who still weren't able to match last years premium but were within 200 of it which i guess is an ok increase RELATIVE to the others.

I find it hard to believe that so many people are not paying for insurance but if they keep putting the prices up then the problem will only get worse; it's a false economy!

[labman]

Re: High rising costs of car insurance?

My insurance has risen by £12.00 this year when I renewed it last week with Tesco. However, when I went on the comparison site, the exact same policy would have cost £130 more - where is the sense in that?

[seduraed]

Re: High rising costs of car insurance?

I ws liten to Radio 4 and an articlabout car isurance. Theinsurers are stil ayingout more in calims than they are tkingin oremiums. By abut £2thousand milliion million pounds if my memory seresme corecly.
There also seems to be a link according the society of actuaries between the number of clais managment companies in an area and the pice of insurancend the cost of payouts .

Clear evicence forregulation in that field.

[labman]

Re: High rising costs of car insurance?

Personally I think it's a real shame that we live in such a litigation culture. It appears nothing can happen without somebody having to lose their job, somebody being sued or whatever.

Accidents do happen - genuine accidents which are nobodies fault. I feel it's a shame more don't accept this and just wipe the scratch down and get on with life without suing someone.

Of course if somebody suffers real harm they should receive suitable compensation, but I can't help feeling its gone too far.

As for fraudulent claims for whiplash etc..... Well, don't get me going!

[turnerburner]

Re: High rising costs of car insurance?

Couldn't agree more labman! The fact that we live in such a capitalist society gives rise to the self centred ways of people. They don't see things as wear and tear, it's all about 'you did this to me, now i want this off you', regardless of whether it was an accident or now. Mistakes happen and people need to stop being so infuriatingly prissy and get over it!!

[labman]

Re: High rising costs of car insurance?

I also find it hard to believe the fact that they're losing so much money on car insurance. If you ran an insurance company, and one sector of it was losing money so drastically, what would you do?

I would close that sector down. I don't see any of them being in a rush to do this.