UK Insurance costs.

[Blackmac]

This is now becoming as much of a crisis as the energy situation.

Both our car insurances have doubled this year, despite no claims, and i've just got my home insurance renewal through from LV. It went from £480 to £780 last year and this year they are quoting £1280. Haven't claimed in years. Apparently it is because of all the flood claims they are paying out. I thought insurance was based on risk and as we live on a hill we are never flooding.
We are just getting robbed by these fuckers.

[Margin__Walker]

What comparable quotes are you getting away from your current providers?

Edit - Agree though. Have noticed Car insurance especially rocketing for us.

[Blackmac]

What comparable quotes are you getting away from your current providers?

I check every year and not much to be done about it as they are all the same. I have a comparison quote for £1080 for the house insurance but that's about it. Most people I know are experiencing the same. I knew it was going to be a kicking when LV sent out a warning email two days in advance telling you why costs are rising.

[Margin__Walker]

What comparable quotes are you getting away from your current providers?

I check every year and not much to be done about it as they are all the same. I have a comparison quote for £1080 for the house insurance but that's about it. Most people I know are experiencing the same. I knew it was going to be a kicking when LV sent out a warning email two days in advance telling you why costs are rising.

It certainly seems under reported (when compared to energy/food costs etc) and will be painful for a lot of people.

Interesting that inflation announced as static at 4% today. Not familiar with how the calculations are weighted etc, but clearly other things must be easing (presumably energy/fuel) to accommodate insurance rises without it hitting the headline figure.

[inactionman]

We got slammed on our house insurance and car insurance. All up by at least 50%.

We did re-check the rebuild cost for our house as it's quite old via the RICS tool (I think? I forget) and I upped the value a bit. That had a fair impact but the price has shot up regardless of this.

The problem is, you can't realistically opt to not take out insurance. You can't exactly cut down on what is insure very easily either - the house will cost whatever it costs to rebuild.

[dpedin]

I just renewed my car insurance and it is up 21% to £460. 5 year old Skoda Octavia vRS that goes like stink so not a slow car.I did have a claim a few years ago - I had an argument with my mates gate post but had protected NCB. I am with Direct Line and called them up and had a nice chat with them and got £35 off original quote. My insurance does include car recovery with overseas cover and that seems to have gone up a bit. I also include a named driver with no offenses/claims on last 5 years as this does reduce the price a little. I was expecting more to be honest but DL have been very good and price is hard to beat on online comparator sites. As others have said you are a bit of a hostage to fortune with insurance.

[Tichtheid]

I got a renewal quote for car insurance from eSure which was around double what I'd been paying, I'd been with them for years and like others have said here, I got an email warning me that the price was going up a lot. I have 15 years + NCD.

Aviva came up with a quote that was around three quid month more than I had been paying previously.

[dpedin]

I got a renewal quote for car insurance from eSure which was around double what I'd been paying, I'd been with them for years and like others have said here, I got an email warning me that the price was going up a lot. I have 15 years + NCD.

Aviva came up with a quote that was around three quid month more than I had been paying previously.

My late Father in Law was an accountant and always said you never know you get a good insurance deal until you make a claim - very true. When I had my 'incident' with the gate post Direct Line were just fantastic in dealing with my claim and had plan of action all sorted out with 30 mins of first call.
Everything was sorted without a hitch, on time and repair was first class. 'Which' have done an assessment of car insurance companies and both Direct Line and Aviva are in their top 5 and are recommended. I will always use a reputable insurance company.

[sockwithaticket]

I'm not a driver, what are companies telling you to justify such steep increases? Insurance isn't really a good like a phone or food, it's not affected so much by energy and freight increases, Brexit red tape or other supply chain expenses that have gone up.

[Insane_Homer]

My car insurance renewal from Direct line just jumped from £530 to £1100

[inactionman]

I'm not a driver, what are companies telling you to justify such steep increases? Insurance isn't really a good like a phone or food, it's not affected so much by energy and freight increases, Brexit red tape or other supply chain expenses that have gone up.

They claim (pardon pun) a few things, one is the prevalence of electric cars meaning that small fender-bender accidents can result in costly write-offs as few repairers will provide any guarantee on the battery. Another is delays to spare parts etc holding up repairs, resulting in lengthy courtesy/hire car leases.

I'm far from convinced, but prices seem to be up across the board.

[petej]

I'm not a driver, what are companies telling you to justify such steep increases? Insurance isn't really a good like a phone or food, it's not affected so much by energy and freight increases, Brexit red tape or other supply chain expenses that have gone up.

It is impacted by supply chain. If you are in an accident you'll usually get a hire car so if it takes a part 2 days or couple of weeks to arrive then it is an issue. Modern cars have an array of mostly unnecessary electronic shit all over the place making repairs harder and more expensive (disposal is probably more expensive as well).

[sockwithaticket]

Ta, both.

[dpedin]

My car insurance renewal from Direct line just jumped from £530 to £1100

Ouch! I wonder why the different experience from me - I get 21% increase you have 100% increase from same company!

[Dinsdale Piranha]

With car insurance it's also impacted by theft as well as increasing repair costs.

A friend with a Land Rover can't get ANY insurance for his vehicle parked on the street (London) This has only become an issue in the last 6 months. I have also been unable to get insurance for my VW van parked on the street for several years.

[SaintK]

Renewal for my 5 year old Merc via a broker is due end of the month and is up from £430 to £670
Haven't done any shopping around yet but get the feeling that will be difficult to beat.
My wife renewed on her 10 year old Mini convertible for £190 in September an increase of £5!!!!!

[Blackmac]

With car insurance it's also impacted by theft as well as increasing repair costs.

A friend with a Land Rover can't get ANY insurance for his vehicle parked on the street (London) This has only become an issue in the last 6 months. I have also been unable to get insurance for my VW van parked on the street for several years.

I heard that the price of used Land and Range Rovers has dropped by about 40% in the last 6 months because of this.

[Sandstorm]

With car insurance it's also impacted by theft as well as increasing repair costs.

A friend with a Land Rover can't get ANY insurance for his vehicle parked on the street (London) This has only become an issue in the last 6 months. I have also been unable to get insurance for my VW van parked on the street for several years.

I heard that the price of used Land and Range Rovers has dropped by about 40% in the last 6 months because of this.

Land Rover have been forced to launch their own insurance for their vehicles. Had to because they’re so easy to steal.

[Biffer]

Just paid my home insurance, same as last year but contents only, buildings is separate for the entire block as I’m in a flat. Can’t say I noticed it going up much though. Car insurance was November, quote from exiting provider was up about 60% but I got a quote from another provider for about the same as the previous year.

[lemonhead]

LV in particular were one of the cheaper insurers until last year, had to ditch them as car insurance more than doubled.

[Blackmac]

Part of my problem seems to stem from the fact that I have a number of expensive watches insured on the policy. I'm very careful not to take them to the obvious theft hotspots and there is little or no watch theft in Edinburgh but I'm probably paying for the problems in London.