Car insurance - a pleasant surprise.

[JRT]

After reading lots in the media about massive hikes in insurance costs I was not looking forward to my renewal.

Got it this morning (LV) and my premium is going up by 12%. Which sounds a lot but a smaller increase than anticipated and I could get it to 0% by shopping around.

Ok the car is a bog std. six year old Kuga not a new Range Rover or Tesla but one does wonder if things are as bad as the media would have us believe.

 

[Mr Plodd]

When I renewed with LV in February my premium rose by almost 50% £350 to about £570 and that was for a then 5 year old Mazda 6 diesel estate, so hardly a boy racers motor!

After doing a lot of shopping around I was unable to get a better quote., so you have done very well.

 

[Woodentop]

+1 with Andy on LV. Mine went up from £372 to £533 with LV a couple of months ago on a 72 plate Karoq Sportline diesel. I rang them and pushed a bit and they got it down to £506. I tried other insurers and the closest was Saga at just under £600, the highest was Direct Line at £1094!!! (Now I know why DL don't go on comparison sites!)
Could it be because LV are now owned by Allianz?

I now have buildings and contents insurance up by 53% to deal with before the end of this month.

 

[otherclive]

After reading lots in the media about massive hikes in insurance costs I was not looking forward to my renewal.

Got it this morning (LV) and my premium is going up by 12%. Which sounds a lot but a smaller increase than anticipated and I could get it to 0% by shopping around.

Ok the car is a bog std. six year old Kuga not a new Range Rover or Tesla but one does wonder if things are as bad as the media would have us believe.

We received a letter from LV last week, and it was a detailed explanation of where and why insurance costs were increasing. Home is due soon, and cars in October. Like Plodd the cars went up last year by 40% but when I tried online comparators and also those companies that don’t use comparator sites I could not get a quote to beat LV. The much applauded NFU wanted twice as much for one car as LV did for two cars. So it’s wait and see time.

 

[Mr Plodd]

Now if I was a cynical individual.................

If ALL the insurers, for some bizarre reason, all.decided to increase their car premiums over 1 year, they could the following year, crow about how they kept that years premiums the same as last years, or even lowered them slightly to make themselves look good whilst having boosted their profits by a decent percentage

Like I said, if I was cynical

 

[GeorgeandAde]

I'm with Aviva for my 2019 1.3 petrol Honda Jazz.
Last years premium was £322 fully comp.with wife added.
Just had renewal notice from them for this coming year,£312!!!!
£10 cheaper than last year.
I couldn't believe it.🙂

 

[Jcloughie]

I am also with LV. I cannot recall the amounts. But it had initially gone up a substantial ammount. I called them, and by adding other drivers, and reducing my milage, I brought it down to something similar to last the previous year.

I think that insurance companies adjust for milage far more than they used to.


John

 

[JRT]

We received a letter from LV last week, and it was a detailed explanation of where and why insurance costs were increasing.

I got an email from LV yesterday outlining exactly the same and I immediately thought 'oh heck here we go...'

Now I realise there is a bit of psychology in play by telling me to expect bad news but then it not being as bad as I might have thought on reading that email.

 

[Dustydog]

Aviva last November was £393 , previously £300.
Tried elsewhere , nothing cheaper.
There are a number of reasons for the widespread increases.
Bodily injury claim awards have risen
Car body repairs have increased
dramatically . Eg paint power labour .
Certain types of car are not easily repairable and are written off.
Plus of course the variables across the board are infinite so comparing on here can only be seen as a trend.
Just a shame our pensions don’t increase😥

 

[otherclive]

Aviva last November was £393 , previously £300.
Tried elsewhere , nothing cheaper.
There are a number of reasons for the widespread increases.
Bodily injury claim awards have risen
Car body repairs have increased
dramatically . Eg paint power labour .
Certain types of car are not easily repairable and are written off.
Plus of course the variables across the board are infinite so comparing on here can only be seen as a trend.
Just a shame our pensions don’t increase😥

​

Why pensions? Surely you benefitted by two years of Triple Lock increases ? 10.1% plus 8.5% isn’t to be ignored.

 

[woodsieboy]

Our LV renewal through Lloyds Bank was ridiculous Meerkats came in much cheaper with LV direct, then a couple of days later Allianz came up cheaper still,and Allianz is same group as LV, all details were same for car across the 3 quotes so something strange is going on in insurance.

 

[Dustydog]

Why pensions? Surely you benefitted by two years of Triple Lock increases ? 10.1% plus 8.5% isn’t to be ignored.

Not if you’re locked into the Pension Protection Fund. Plus why isn’t the basic state pension the same the minimum wage?

 

[otherclive]

Our LV renewal through Lloyds Bank was ridiculous Meerkats came in much cheaper with LV direct, then a couple of days later Allianz came up cheaper still,and Allianz is same group as LV, all details were same for car across the 3 quotes so something strange is going on in insurance.

I have just received Home quote from LV and it's risen from £242 to £332. Using Meerkat it is £333 with Allianz their parent company it is even more expensive. Cheapest is Esure at £179, with Axa and Aviva similar to the 2023/4 LV quotation. So like my mobiles and broadband this loyal customer may be moving insurer, as LV quote is supposedly reduced by my membership of Boundless and by having car insurance with them.

Apologies in advance to Fred Drift aficionados

 

[Dustydog]

I have just received Home quote from LV and it's risen from £242 to £332. Using Meerkat it is £333 with Allianz their parent company it is even more expensive. Cheapest is Esure at £179, with Axa and Aviva similar to the 2023/4 LV quotation. So like my mobiles and broadband this loyal customer may be moving insurer, as LV quote is supposedly reduced by my membership of Boundless and by having car insurance with them.

Apologies in advance to Fred Drift aficionados

No help from all your discount cards😉

 

[otherclive]

No help from all your discount cards😉

They aren’t discount cards but reductions via a membership and other policies with LV. Either way not much benefit. But I even tried AgeUk who use LV and got a lower price plus Home Emergency addition included. Taking the **** methinks.

 

[Dustydog]

They aren’t discount cards but reductions via a membership and other policies with LV. Either way not much benefit. But I even tried AgeUk who use LV and got a lower price plus Home Emergency addition included. Taking the **** methinks.

At the moment until next year anyway Aviva give me a good discount for having car and home with them. How long it lasts who knows?

 

[Sam Vimes]

Just a reminder about one of our rules.....

These forums are for the discussion of caravans, motorhomes, and associated topics. Posts that derail from this topic, or attempt to steer the conversation to matters of religion, politics, or other unrelated issues may be removed.

 

[JRT]

And in a further surprise I received my Caravan Club - caravan insurance renewal today and that's gone down by £48 pa. .....

I was expecting that to go up too.

 

[Buckman]

Got our renewal quote through today and it has gone up by almost £80! Not nice on top of a hefty repair bill yesterday.

 

[Jcloughie]

To continue this topic.

I got a decent deal on car insurance from LV last year. £385. But this year they want £493. Though on phoning up they dropped to £468. I think this is a bit poor. The true figure should have been offered first. And I may have reluctantly accepted.

I went to compare the market and found quotes from £333 up to £1850. I chose Ariva Zero for £372 with £300 voluntary access and £0 compulsory access. And the policy seems like for like. Pleased with that.

John

 

[Dustydog]

Do you mean Aviva Zero?

I was with Aviva last two years. January the premium increased by £105. All on line and other than a chat bot you cannot talk to a human. The price is non negotiable!
At least your LV did talk to you.

It’s a very tricky situation. All Insurers premiums seem to change daily so there isn’t any way of saying who is cheaper and better overall😢
The AA using Covea Insurance came in for me . Identical cover and £5 cheaper than last year! £334.00.
Covea is the largest Insurer in France and won the best claims service in the UK last year.

It really is a lottery but well done John. Sadly loyalty no longer seems to count.

 

[otherclive]

Do you mean Aviva Zero?

I was with Aviva last two years. January the premium increased by £105. All on line and other than a chat bot you cannot talk to a human. The price is non negotiable!
At least your LV did talk to you.

It’s a very tricky situation. All Insurers premiums seem to change daily so there isn’t any way of saying who is cheaper and better overall😢
The AA using Covea Insurance came in for me . Identical cover and £5 cheaper than last year! £334.00.
Covea is the largest Insurer in France and won the best claims service in the UK last year.

It really is a lottery but well done John. Sadly loyalty no longer seems to count.

It’s no different for other insurances either. Our central heating cover went up by 30% without any claims in the year. When I rang I got it down to a 15% rise. As you say no recognition of customer loyalty.

 

[birdman101]

Just had renewal for car and has gone down £50 from last year so will stay with insurer who have been with over 10 years now. Each year have looked on comparison sites,but like for like have never found better. Expecting Caravan insurance renewal next week which is new for old. I don’t expect any increase as new Caravan price is now actually lower than new in 2023.

 

[RogerL]

I recall Martin Lewis recently saying that car insurance has dropped 16% this year so any insurer offering the same or more than last year really is taking the mickey

BBC Radio 5 Live - The Martin Lewis Podcast, Martin Lewis: Are you overpaying for your car insurance?

Martin says you could beat your renewal quote – even if it’s cheaper than last year.

www.bbc.co.uk