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Car Insurance continue to spiral😥😥

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New techology in cars has perhaps pushed up the repair costs. A small 'bender fender' which used to be cheap to repair, relatively, now probably has to have a lot of electronics replaced that sit behind the car front - cameras, sensors, radar modules. etc.
 
Sam Vimes said:
New techology in cars has perhaps pushed up the repair costs. A small 'bender fender' which used to be cheap to repair, relatively, now probably has to have a lot of electronics replaced that sit behind the car front - cameras, sensors, radar modules. etc.
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A couple of years ago a truck took out my driver's door mirror while I was parked - fortunately I was sat in the car and he stopped to give details - like most modern cars it was a heated mirror with indicators built-in the housing but it also had automatic dipping, a puddle light and a sideways camera - total cost was £1,600 plus about the same for 3 days like-for-like car hire - all recovered from the third-party so no effect on my claims record - but starts to explain the high cost of repairs.

My back bumper has a ding from my bad parking - the "chrome" trim is cracked and there's a slight dent in the bumper visible from certain angles - I was quoted over £1,000 6 years ago so heaven knows how much it would be now - I didn't have it done as sod's law says that if I did, someone would rear-end me!
 
It's not just car insurance that's rocketed !
I've just paid for a single trip travel policy. It's for trip we are repeating from six months ago.
Same destination, same cover, same company .

£200 more expensive !!

£311 in Jauary for the two of us, £510 today .
 
For some obscure reason I've often found multi-trip cover to be cheaper than single trip. Obviously lots of 'depends' etc but could be worth checking to see if there's a difference.
 
Earlier in the summer I was talking to my daughter through the driver's window of my 2010 C5X7 and at the same time turning slowly into the front drive. Inevitably I caught the n/s rear door on the wall, causing a slight dent. For all the usual reasons, I didn't want to get the repair done on insurance so for several weeks, I ignored the damage. However, it began to annoy me so I visited a body shop for a quote. The guy's first question was "Who is paying?" Should that make a difference? Maybe not - unless the insurance companies are being over-charged for any work done - which will be passed on to the customer eventually. But I told the guy I would be paying for it myself. His advice was that in view of the car's age, to leave it as it was - otherwise it would be £800. I'm slowly tackling a repair myself.
 
Buckman said:
Normally the lower the mileage the higher the premium. Insurance companies view it that the person is not a regular driver and is more of a risk than someone with high mileage who drives regularly.
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No, the problem is that higher mileages mean ore exposure to accidents and a higher risk as Dusty says. If you take it very low you will get under the point at which the premium remains the same though. getting the mileage right is essential but a minor figure over the estimate is generally not detectable as the insurer has no record of the mileage on the renewal date.
Age, claims record and location are the most serious ones in the calculation.
It is true though that different underwriters do weigh the risks differently, but the premium is based mainly on computer generated statistics.
 
Jaydug said:
I visited a body shop for a quote. The guy's first question was "Who is paying?" Should that make a difference?
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Nothing new there. I remember being aske that question in the 1960s. The explaination was that the insurance companies drag their feet in paying - sometimes for more than three months ! Meanwhile the repairer has had to shell out for parts, material and wages.
 
Jaydug said:
Earlier in the summer I was talking to my daughter through the driver's window of my 2010 C5X7 and at the same time turning slowly into the front drive. Inevitably I caught the n/s rear door on the wall, causing a slight dent. For all the usual reasons, I didn't want to get the repair done on insurance so for several weeks, I ignored the damage. However, it began to annoy me so I visited a body shop for a quote. The guy's first question was "Who is paying?" Should that make a difference? Maybe not - unless the insurance companies are being over-charged for any work done - which will be passed on to the customer eventually. But I told the guy I would be paying for it myself. His advice was that in view of the car's age, to leave it as it was - otherwise it would be £800. I'm slowly tackling a repair myself.
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Part of the difference in quoted repair cost is that a private owner will pay immediately while insures take months - this seriously affects the cash flow of a small repair shop, often a one-man band
 
RogerL said:
Part of the difference in quoted repair cost is that a private owner will pay immediately while insures take months - this seriously affects the cash flow of a small repair shop, often a one-man band
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Unlikely an insurance company will deal with a one man band as we found out when we submitted quotes a few years ago.

Raywood said:
No, the problem is that higher mileages mean ore exposure to accidents and a higher risk as Dusty says. If you take it very low you will get under the point at which the premium remains the same though. getting the mileage right is essential but a minor figure over the estimate is generally not detectable as the insurer has no record of the mileage on the renewal date.
Age, claims record and location are the most serious ones in the calculation.
It is true though that different underwriters do weigh the risks differently, but the premium is based mainly on computer generated statistics.
Click to expand...
I did query the abnormality with an insurance company many years ago and was informed that a person that does low mileage annually is more at risk that someone with high mileage. It make sense at the time.
 
Challenger said:
Direct line brought to book

www.cityam.com

Direct Line agrees to review after overcharging customers by £30m

Direct Line has agreed to pay redress to customers today after admitting an error meant it overcharged customers by some £30m.
www.cityam.com www.cityam.com

There will certainly be others. With our present car insurers we have found very large differences in the renewal price offered compared to that available (like for like cover) on comparison sites !
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And Direct Line are still in the process of reevaluating all the Total Loss claims paid out in recent years. The FCA discovered they had short changed a lot of their policy holders. See my earlier posts.
 
Insurers do not take months to pay for repairs. Any that did would not be able to do business as garages would not deal with them or only do it for a higher price. What insurers get is a discount based on extra volume and prompt payment by directing work to specific garages.
Not sure what company suggested that low mileage was a higher risk, but you will find that adjusting the mileage up does increase the premium. You will find it goes up in blocks of up to 4,000 miles so it might be worthwhile checking if you make it higher if it makes a difference to get a bit more leeway.
 
Raywood said:
Insurers do not take months to pay for repairs. Any that did would not be able to do business as garages would not deal with them or only do it for a higher price. What insurers get is a discount based on extra volume and prompt payment by directing work to specific garages.
Not sure what company suggested that low mileage was a higher risk, but you will find that adjusting the mileage up does increase the premium. You will find it goes up in blocks of up to 4,000 miles so it might be worthwhile checking if you make it higher if it makes a difference to get a bit more leeway.
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It varies by company - some companies make no distinction under 15,000 miles/year, others charge more in 1,000 mile steps.
 
Not sure who goes as far as 15,000 miles but mine seems to go up in 3,000 mile increments. Unfortunately 9,000 is a bit low for me but it then jumps to 12,000 without increase.
 
My multi car policy expires in October. So in anticipation that for the first time in many years I may have to shop around I’d prefer a multi car policy to compare like with like. Anyone know of insurers that offer multi car policies. At present I get a discount for being a member of Boundless plus a further discount for having our home insurance with the same company as the cars.
 
otherclive said:
My multi car policy expires in October. So in anticipation that for the first time in many years I may have to shop around I’d prefer a multi car policy to compare like with like. Anyone know of insurers that offer multi car policies. At present I get a discount for being a member of Boundless plus a further discount for having our home insurance with the same company as the cars.
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Never knew they did they in the UK. In SA it was known as an umbrella insurance as you could do your cars, house and just about everything else on one policy.

Only exception i think was life insurance. Just the one payment a month and price was very reasonable for everything covered.
 
otherclive said:
My multi car policy expires in October. So in anticipation that for the first time in many years I may have to shop around I’d prefer a multi car policy to compare like with like. Anyone know of insurers that offer multi car policies. At present I get a discount for being a member of Boundless plus a further discount for having our home insurance with the same company as the cars.
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Churchill, Admiral and LV= all offer multi-car policies - they may give additional discounts for non-car policies.
 
Thanks for the replies, I am with LV and could obtain a further discount if I bundled the home policy with the multicar policy. As the saying goes "every little helps". Will look at the options when we get back from Northumberland.
 
Many years ago I had a multi-policy with my own and my wife's car on the same policy. Her car was in my name with her as a named driver. Everything was fine until a minicab driver ran into the back of her car at a T-junction. They swapped names and addresses and he rushed off to Heathrow with his passenger. Later his address turned out to be false and he didn't own the car. Eventually, LV sorted the repair without any cost to us but when my insurance came up on my own car, it had a claim marked against it. No more multipolicies for me.
 
Just got my renewal this morning and it has gone from £764 to £1223. Have only caused one accident ( 1 mirror and paint scratched) in sixty odd years. Did have another where it was parked and a tipper lorry decided to reverse into it. Insurance did mention one of the many reasons that I am one year older !.
 
Robert_374373903 said:
Just got my renewal this morning and it has gone from £764 to £1223. Have only caused one accident ( 1 mirror and paint scratched) in sixty odd years. Did have another where it was parked and a tipper lorry decided to reverse into it. Insurance did mention one of the many reasons that I am one year older !.
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Did the insurance for the 1996 Corolla 1.3 and basically very little change in premium yet we are in our early seventies. Last year it was about £148 and this year £160 fully comp. Even with the Jeep the increase was about £20.
 
Had our LV renewal come through today and with discounts for being a Boundless Member and having home insurance with LV the increased quotes are XCEED £222 to £358. RIO £151 to £206. Total increase from £373 to £565. Neigh on £200. No accidents or claims to affect it so I will most certainly be shopping around, but keen to use insurers that have a good reputation for settling claims without hassle. It doesn’t have to be a multi car policy. Names on a plate please.
 
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