Insurance Hike!

General Chat with an emphasis on BMC Minis & Other iconic cars of the 1960's. Includes information on MK1 Action days.
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Southwest
Posts: 122
Joined: Thu Oct 03, 2019 9:59 am
Location: Exeter UK

Re: Insurance Hike!

Post by Southwest »

Adrian Flux renewal £3 less than last year fmy 1960.
Auto renewal and they showed last years premium.

gazza82
Posts: 14
Joined: Thu Oct 24, 2019 5:17 pm
Location: Buckinghamshire

Re: Insurance Hike!

Post by gazza82 »

Spider wrote:
Thu Oct 15, 2020 6:37 pm
For what ever it's worth, generally across Aust, Car Insurances have gone down during the pandemic as they took on board that a good many people were working from home and socialising was pretty much wiped out, our roads, until about 6 weeks ago were empty.
Not in the UK. Although one insurer did say the were going to refund their drivers for the low use. Not sure if they ever did .. I imagine the others gave them grief and the did s U-turn.

My modern's renewal came in .. now bear in mind I've worked from home for 8 years but have to have business class 1 cover for trips to meetings and clients of which I have been to zero since March (and most companies give for free or no extra cost) ...

So last year I paid: £281. Renewal £365! Questioned it: Wow down to £333!!!

I have also covered less than 1000 miles since March.

Quick comparison site quote. £230 and actually better cover!

It pays to move ... but it's a pita ...

Buildings insurance was same .. but they discounted it ..

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mab01uk
Posts: 4561
Joined: Thu Jun 24, 2010 7:08 pm
Location: S.E. England

Re: Insurance Hike!

Post by mab01uk »

gazza82 wrote:
Thu Oct 15, 2020 7:57 pm
Spider wrote:
Thu Oct 15, 2020 6:37 pm
For what ever it's worth, generally across Aust, Car Insurances have gone down during the pandemic as they took on board that a good many people were working from home and socialising was pretty much wiped out, our roads, until about 6 weeks ago were empty.
Not in the UK. Although one insurer did say the were going to refund their drivers for the low use. Not sure if they ever did .. I imagine the others gave them grief and the did s U-turn.
Admiral gave me a £25 refund on both my modern cars (BMW 320D & a MINI) due to the pandemic.

Admiral Stay at Home Refund
"During the UK-wide Coronavirus lockdown, we were delighted to give back £110 million to our car and van insurance customers in recognition of them staying at home and driving less.
We automatically gave a £25 premium refund to all customers for each car and van we covered on 20 April 2020 – that’s a total of 4.4m vehicles.
We gave customers the refund to reflect that there were fewer cars on the road during the lockdown, and our customers drove less, which resulted in fewer insurance claims."
https://www.admiral.com/about-us/stay-at-home-refund

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mab01uk
Posts: 4561
Joined: Thu Jun 24, 2010 7:08 pm
Location: S.E. England

Re: Insurance Hike!

Post by mab01uk »

By law UK insurance companies now have to show last years premium on the renewal.

The insurance and utility companies trade on what they term 'customer inertia' which is the tendency of some customers to buy or continue buying a product, even when superior options exist. Market research shows them it pays them more in profits than rewarding old fashioned customer loyalty, otherwise they would not do it.....

cheesebadger
Posts: 155
Joined: Wed Jan 21, 2015 2:19 pm
Location: Surrey

Re: Insurance Hike!

Post by cheesebadger »

My renewal was due in September.
I was with Hagerty, I was surprised when their renewal was exactly the same as last year (£102!) I was expecting it to have jumped up as usual (with other insurers) so I was impressed that they kept it the same. Shame it didn't reduce given nothing changed from last year, but maybe this takes into account the increasing value of our cars...

Cheers, Rich

hicklingmick
Posts: 25
Joined: Mon Jun 29, 2020 5:24 pm
Location: Rural norfolk Uk

Re: Insurance Hike!

Post by hicklingmick »

On yesterdays Tv ,a guy had car insurance through Debenhams but was going to buy another car.

Asked them about changing car ,they said Extra £470 so guy arranged to buy this other car but keep present car insured until day he collected newer model.

Going by train to garage to collect car, when about 30 minutes from garage ,he phones ins co who then say that it will have to go to underrighters and they should have a reply in 48 hrs..

Contacts garage who say they will arrange cover for 5 days,so he collects car.

Goes home and next day goes on a comparison site.

Enters details & cheapest quote is Debenhams,cheaper than what they quoted over phone but can have cover straightaway.

To say he wasnt impressed is understatement.Plus they wouldnt refund what he had to pay garage for them to cover him.

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