Recent insurance premium shock

JamesOC

JamesOC

New member
Got quite a shock at renewal this time round. Hope this is a one off and not a sign of a general trend.

I expected it to go up as when I got the car, as it was lockdown , I set it at low mileage. I’ve now reverted to 15000 miles pa and also added details of a flood damage claim from earlier in the year on my second car.

With LV Premium went from £800 to £950 without the changes above and then with the changes to £1500. I’ve got it down to 1000 elsewhere. But was a bit surprised at the generally higher quotes on the comparison sites as well. Obviously all out situations differ, and I get that it’s a high group car, and I do have 6 points from 2018 but was surprised by the size of the jump.

Have others seen this recently?
 
You think that's bad....

My premium last year was about £850 (admiral)....

The renewal quote was over £2k

Shopped around and eventually went with AXA for £670
 
devbrodie said:
My premium last year was about £850 (admiral)....
The renewal quote was over £2k
Click to expand...

Blimey! Had anything changed in your circumstances to "justify" such a hike? :shock:
 
I just got mine from LV for £508, which is about the same as the quotes I was getting in November last year when I was looking.

That’s for 6k miles a year - I had tried it at 10k because I’d heard that can give a lower premium, but it shot up significantly.

Jaguar have quoted £1450!
 
So don’t understand insurance costs!!!!

Just moved my multi car insurance from Aviva to LV.....premium for the 5.0s FType...£288 :D
 
Northnoble said:
So don’t understand insurance costs!!!!

Just moved my multi car insurance from Aviva to LV.....premium for the 5.0s FType...£288 :D
Click to expand...

They are a law unto themselves. I'm with Admiral but on the strength of yours I'll try LV at renewal time! :)
 
Just moved out of Admiral multi car policy that covered my 3 main cars plus home and contents. Reduced from £2k+ to <£1k with AA

These days insurance is for sure about risk, but equally about inertia and hiking premiums for loyal customers to cross subside new. Just have to Olaf the game
 
LV wanted £1200 from me. No claims in the last 5 years, full no-claims bonus, no points on my license, 6000 miles limited mileage. I went to AXA and got it for £400.

LV had quoted me £1200 because I was renewing in July. Renewing in August would drop it to £600, but when I actually came to renew they claimed there had been a shake-up via their credit agency, so the quote stood at the original £1200 figure. Had I not seen some of the prices folk on here had been quoted, I might have paid it!

I'll certainly be trying a few of the specialist brokers next year (though A-Plan were a non-starter due to the value of the car) to see what can be done.
 
Cluck said:
I'll certainly be trying a few of the specialist brokers next year (though A-Plan were a non-starter due to the value of the car) to see what can be done.
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Beware of some of the specialist insurers - when hit 50 I thought I'd try Saga's "Over 50s" policy. They wanted three times the premium I'd been quoted by "ordinary" insurers and seemed surprised when I said I wouldn't take up their generous offer! And I was bombarded with junk mail for the next 6 months. :evil:
 
Heh, well, taking my father off the insurance renewal dropped the original quote by £1000 (yes, the original quote was over £2K!)

I was thinking more along the lines of trying Adrian Flux and then, when the value has dropped a bit, trying A-Plan again at their Thatcham branch (who I used to be with when I had a Nissan 200SX some years back)
 
I've always found planning in advance is the best - if you look to take out a policy at least 2 weeks in advance then prices vary significantly.
For example a policy starting today/tomorrow was around £150 more expensive vs one starting on 1st October

I never go with the renewal offer and always use a comparison site, 29 years old, 11 years no claims, 10k miles p/a, kept on a driveway....£605 this year which I thought was fine

obviously everyones circumstances differ, postcode is a big factor, best advise i have is shop around and always do it early
 
My premium with Saga has just gone up from £260 ish to £320.
Shopped around LV and AXA both came out at £250.
Phone call to Saga and low and behold £255 was available.
For me the benefit of Saga is a 365 day green card so I stayed with them, but was very tempted to tell them to.......!
 
Some insurance renewal quotes often have the approach of a Moroccan souk.

Each year, from as far back as I can remember, the annual MoreThan renewal quote contains a massive increase. Whereas an identical quote obtained as a 'new' customer, on their website, is usually pretty much the same as the previous year. Followed by phoning them to match their own quote. Doh!

This time it was even more odd, but easier. Premium went up from £350 to £570 for renewal! Obtained a 'new customer' quote of £363 on the MoreThan website and a second quote from LV of £346.

I waited a couple of days and logged into the MoreThan account to see if I could cancel the existing policy at renewal. On selecting 'continue with the renewal', the price shown on the screen of £570 then tumbled to £343!
 
Suggest that you try NFU,I pay about £380 for my 2016 V6S.I do live in the Country which might make a bit of a difference.
I have to say that except for LV ,and then only by a few pence,I have never found anyone to beat the NFU for a fully Comp no quibble Policy and best of all real permanent staff in a local office
 
scm said:
Blimey! Had anything changed in your circumstances to "justify" such a hike? :shock:
Click to expand...

I think they wanted shut of me...

I genuinely thought that I had told them of a speeding fine which I acquired back in 2017, but apparently I hadn't.

When my renewal came up in 2019, they checked with DVLA and found the conviction - they subsequently charged me £760 for this, which I accepted as the risk adjustment for the last 2 years - fair cop

I think the price hike was down to this fact and they just wanted me off their books.
 
£262 for my SVR this year with LV multi-car and 12,000 miles! Wife's Fpace costs a bit more. But so many 'small' things in our favour - rural, garage overnight, 9 years + protected no claims, old enough to be 'sensible' (that's a laugh!) and experienced, no points (god knows how), young enough to be able to drive in a straight line, tracker fitted, dashcam fitted. 4 year old car with 43,000 miles so worth about 20 quid etc. Interesting to hear about the wide variety of quotes, and always worth shopping round each year. Increased excess can make a big difference.

Although a very fast car, I wonder if the Ftype is generally driven by middle aged farts like me who have splashed out on a mid-life crisis car and therefore are pretty careful with it? Premiums are based largely on historical claims rather BHP, top speed etc.
 
Thanks for the responses; I’m glad it’s not just me.

I hadn’t tried NFU, have already now gone with Privelege. But will try them out of interest.

Really surprised by the variety of quotes, and from previous experience I shop around c. 4 weeks before renewal. I know my 6 points don’t help, nor the flood damage claim, but other factors are positive : low risk area, locked garage, 6+ years no claims, etc.

Hey ho, now juts hope I don’t need to use this insurance 🤞
 
I was with Privelege maybe 10 years ago. At the time, driving other cars not belonging etc was not included. That put me off them in following years. I wonder if that's changed now.
 
A Plan Thatcham did mine last month 5k pa, £365. Via Markerstudy.
 
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