[Pond]

Originally Posted by isleaiw1

I will be paying - deal done then????

No. I'm going to hold out for a white one or possibly red. Got to be very low mileage and as late a model as I can get. A white one came up for sale today at my nearest Honda dealer but it's got too many miles on it.

sorry for going off topic!

[isleaiw1]

Originally Posted by Pond

No. I'm going to hold out for a white one or possibly red. Got to be very low mileage and as late a model as I can get. A white one came up for sale today at my nearest Honda dealer but it's got too many miles on it.

sorry for going off topic!

nice red private sale one for sale - 70 plate, 15k miles.... shepton mallet....

Yep, sorry for the off topic, but car insurance is so depressing!

[Cootie]

Originally Posted by ade555

Yeah I did, but insurance premium are done allegedly on risk factors of driver 🤔 and we already had problem with cars prices last year, so nothing has change on that front, to me looks like they raise premiums just because they can and following the same map as utility firms.

Risk factor of driver relative to the expected loss ratio. Expected loss ratio increases due to the various heightened costs therefore even where your risk profile remains static it does so against a heightened multiplier. Insurance firms are bound by regulation to demonstrate fair value of the product/premium relative to the expected and actual loss ratio ie to demonstrate they are not taking excess profits. As I mentioned previously many of the big players in the industry in the UK last year took a big hit on profitability.

[Pond]

Originally Posted by Cootie

As I mentioned previously many of the big players in the industry in the UK last year took a big hit on profitability.

Please stop, I'm welling up here!

[ade555]

Words just fail me when customer defending why they get charged more

[Pentland]

Originally Posted by ade555

Words just fail me when customer defending why they get charged more

Not defending anything. Pretty much everything has gone up since last year for one reason or another. Probably even your wages too.

[ade555]

A-plan come back with just over £1500 dear lord, makes admiral and others look good

[Pond]

Originally Posted by ade555

A-plan come back with just over £1500 dear lord, makes admiral and others look good

Seems strange that your premium would have doubled, or tripled, when you say nothing has changed.

Maybe ask your current provider to check the database to make sure your details haven't been changed or mixed up with someone else's? Errors can happen. If they haven't then ask why the massive jump!

As said; everything has gone up but insurance hasn't risen by that amount!

[NOSSY]

I was speaking to the broker that sorts out my specialist car insurance and he was telling me for the last 5 years running they have had to pay out more than they have received on German cars. Those brands have consistently been in the red where the JDM cars have done far better, something like paying out 30p for every £1 received. Police just aren’t interested in car thefts at all. So it’s become an easy crime.

[ade555]

Pond Honestly nothing has changed, that's why I can't understand it and getting frustrated, I didn't pay for car insurance more then £500 for few years now.

[Pentland]

Originally Posted by ade555

Pond Honestly nothing has changed, that's why I can't understand it and getting frustrated, I didn't pay for car insurance more then £500 for few years now.

You keep saying that but I think you are only seeing your side of the story. Do you know how many cars in your area have been stolen? How many of the same type as yours? How many personal injury claims there have been in your postcode?

I’m not defending the prices but I always remember Clarkson mentioning trying to insure an Escort Cosworth in Essex in the early days. Pretty much each of the (at the time £26k) cars had been stolen. So the price to insure a Cosworth in that area was astronomical.

I’ve just insured an M240i. Initially I struggled because there are so few around, insurance companies didn’t have a reliable risk factor so some wouldn’t quote - or would quote £x grand!

Keep shopping around, prices do drop daily.

[Pond]

I renewed our Z4 at the end of February (so not long ago).
Premium went up by £12, so they obviously don't want me to pay for much of their losses.

[ade555]

Well Admiral come at best price after phone call, but here is intresting thing, modification are not covered by them unless fitted by the manufacture, I question them twice regards this as any modification has to be declared, so in another words if you purchased side skirts, spoilers ect. unless they have been fitted by BMW them self in even of accident claim they won't cover them.

[Racenolest]

Sorry to hear about the steep increase in your car insurance renewal! It's frustrating when premiums go up unexpectedly. It's great that you've already checked out some quotes online and found a more manageable option.
With your 14 years of No Claims Discount (NCD), you should be able to find a better deal. It might be worth trying some specialist insurers or brokers who cater to drivers with a good NCD and a few years under their belt.
You can also consider looking into car warranty insurance UK for added protection and peace of mind. Best of luck with your insurance renewal!

[Blacktemplar]

Originally Posted by Cootie

A few material factors at play here in terms of insurance premiums we’re all paying. Costs incurred by insurers have gone up significantly over the last 12 months, driven by inflation on parts and labour, alongside significant increases in vehicle hire costs plus higher new/used car prices in total loss claims where vehicles require to be replaced rather than repaired, hence why e.g. Direct Line made a £45m loss in 2022. New premiums have risen to reflect these costs, with the year-on-year price increases being amplified by lower 2021/22 premiums directly resulting from reduced mileage and accident rates during the pandemic.

However Direct Line as a Group made an operating profit of £590M in FY21 and a £32M profit in FY22....

As ever, it seems consumers never benefit in the years of plenty, but are expected to shoulder the cost when times are lean. A bit like Thames Water asking consumers to foot the bill for their required investments while still paying fat dividends to investors...

[ade555]

Well another year come to early, price increased by just over £120, £920 from admiral for year is absolutely joke if you ask me, that's after talking to them, and other comparison sites asking well over 1k.

Not whipper snapper at 40 and 16 years NCD is just getting to expensive

[Danj94]

Yeah I agree. Mine has doubled with Admiral and is the reason I am selling up.

Shame really.

[gac]

Originally Posted by ade555

Well another year come to early, price increased by just over £120, £920 from admiral for year is absolutely joke if you ask me, that's after talking to them, and other comparison sites asking well over 1k.

Not whipper snapper at 40 and 16 years NCD is just getting to expensive

I'm a similar age, less NCD, in a 335d and I just paid less than two-thirds of that. If you have time to go through a quote, you could try Keith Michaels (who I'm with) or Chris Knott (who I've used before and had good quotes from). They're not online brokers though, so you'd need to go through the quote with someone, requires a little time.

edit - obviously it's not a guarantee as it depends on area, just an alternative you may not have tried

[Kendo67]

Originally Posted by Danj94

Yeah I agree. Mine has doubled with Admiral and is the reason I am selling up.

How much did they want this year for the 440 ?

Mine last year with Admiral for the ,declared, modified and mapped F32 440 was around £350 FC with protected NCB.

K

[ade555]

Originally Posted by gac

I'm a similar age, less NCD, in a 335d and I just paid less than two-thirds of that. If you have time to go through a quote, you could try Keith Michaels (who I'm with) or Chris Knott (who I've used before and had good quotes from). They're not online brokers though, so you'd need to go through the quote with someone, requires a little time.

edit - obviously it's not a guarantee as it depends on area, just an alternative you may not have tried

Will give them a ring see what they say.

[TodmordenLad]

I tend to change every year to beat the renewal quote. Went with AA Gold this time. Not the very cheapest but Defaqto 5 star rated, with 1000s of +ve Trustpilot reviews. They also offered European cover, which was a must for me.

[ade555]

I just checked admiral paper work, last year for 2 cars and house insurance costed just over £1300, this year they wanted over £1800.