Insurance Yo-Yo

[fossyant]

I wonder if the current Government shenanigans (excluding Risshi's appointment this afternoon) has had insurances changing like a yo-yo for premium renewals ?

We've got an insurance renewal due 23rd November for the little Aygo. So, being nosy, a few weeks ago, updated my quote details but had to pop a slightly earlier renewal date into one of those 'websites'. Renewal came in the same as current year, about £56 a month (includes two young drivers, one provisional).

Roll on three weeks and refresh the details with correct renewal date, the quote has jumped by over £20 a month .

I'll await Admiral's renewal letter - hopefully it will come in a week or two - I'm thinking the markets have been unstable and it may fall back. To jump be £20 a month in a couple of weeks is crazy, but hey ho, what's been going on is crazy.

 

[Alex321]

I shouldn't think the government shenanigans have made much difference to motor insurance premiums.

Unless they change the premium tax, it really shouldn't make much difference, as premiums are based on perceived risk combined with cost of servicing that risk.

Of course, if general costs of repairs rise due to energy costs or parts shortages (or any other reason), then that will push up premiums, and unfortunately, this is probably what you are seeing.

 

[fossyant]

I shouldn't think the government shenanigans have made much difference to motor insurance premiums.

Unless they change the premium tax, it really shouldn't make much difference, as premiums are based on perceived risk combined with cost of servicing that risk.

Of course, if general costs of repairs rise due to energy costs or parts shortages (or any other reason), then that will push up premiums, and unfortunately, this is probably what you are seeing.

I know if I 'remove' my son from the insurance it drops right down again ! He doesn't need to be a named driver as he's got a car and a company van now - the car is mainly for my daughter but we bought it when son was in a previous job and his car was broken. Just crazy it's jumped so much in the space of a couple of weeks.

 

[Alex321]

I know if I 'remove' my son from the insurance it drops right down again ! He doesn't need to be a named driver as he's got a car and a company van now - the car is mainly for my daughter but we bought it when son was in a previous job and his car was broken. Just crazy it's jumped so much in the space of a couple of weeks.

Has the son had an accident he's told them about but not told you???

 

[Deleted member 26715]

No this is standard underhanded practices by the legalised theft brigade, if you insure 30 days before the event you will get the best price, as you move closer to the due date the prices rise, including your current supplier if you pretend to be a new customer.

 

[neil_merseyside]

Martin Lewis says cheapest insurance price is, I think about 6 weeks begire renewal so waiting only increases the quote, but that won't affect renewal figure which is normally a month before.

 

[fossyant]

Has the son had an accident he's told them about but not told you???

Not between quote dates !

Claims are declared already.

 

[Deleted member 26715]

Slightly OT but I got the renewal for our house insurance through the other day, gone up from £185 to £206 on auto-renewal, which I did not agree to, I would never agree to it & would have chosen another company if it was the only option. Anyway I contacted them to ensure that the policy would not be renewed, they sent the new reminder minus the auto-renewal £212 another £6 on top. So I've gone elsewhere.

 

[tom73]

@Phaeton i was ready to change expecting the standard carry on that looks to be how insurance is now.
Only to get a renewal that was cheeper than last year. Every thing the same as before for the price it was hard to beat so renewed.
You just cant win you never know which way it will go.

 

[Deleted member 26715]

@Phaeton i was ready to change expecting the standard carry on that looks to be how insurance is now.
Only to get a renewal that was cheeper than last year. Every thing the same as before for the price it was hard to beat so renewed.
You just cant win you never know which way it will go.

TBF when the wife's car renewal came through I think £5-10 more expensive I couldn't be bothered to shop around for that.

 

[vickster]

I know if I 'remove' my son from the insurance it drops right down again ! He doesn't need to be a named driver as he's got a car and a company van now - the car is mainly for my daughter but we bought it when son was in a previous job and his car was broken. Just crazy it's jumped so much in the space of a couple of weeks.

Take him off then! Can he not drive it on his insurance or add him again in an emergencyl no point paying if he won’t drive it!
cheaper not to pay monthly usually too

 

[fossyant]

Take him off then! Can he not drive it on his insurance or add him again in an emergencyl no point paying if he won’t drive it!
cheaper not to pay monthly usually too

We've discussed it and he's not fussed so will take him off. I'll see what the renewal comes in at !