Is it just me or has anyone else noticed a sharp rise in insurance premiums of late?

 

I've been driving for coming on 40 years, the first major reduction came after I turned 21, then next when I turned 25. Since then I've always enjoyed cheap insurance premiums - a combination of few accidents, no convictions and always living in low risk areas. With the exception of a few more powerful engines, ove the last 20years I've always paid around £200 after discounts - sometimes much cheaper than that. Even when the industry and news has mentioned raised premiums, mine have either kept the same or more often than not, reduced year on year.  ( I take advantage of being a stereotypical Scot and having too much time on my hands - can spend weeks searching for the best deal ).

 

Both car insurances are  due end of next month and I simply can't believe my eyes at what I'm being quoted.  The best deal so far on the Octavia is £250 - I paid £168 last year.  I appreciate that will still be a very low premium to some, but that represents approx 40% increase in premium    And that's the best price - a few have been slightly more expensive, the majority of them being DOUBLE last year's premium. And then there's the few who quote figures in cloud cuckoo land.

 

Given we've not long had the Karoq its difficult to guage how much that's gone up but when I did my reasearch around October / November time prior to purchase, the prices seemed cheaper than what I'm being quoted now.

 

Has anyone else noticed a sharp increase recently?

Hi.

If you need any help with insurance at all then please feel free to drop me a line.

Regards,

Dan.

2 minutes ago, DAN@ADRIAN FLUX said:

Hi.

If you need any help with insurance at all then please feel free to drop me a line.

Regards,

Dan.

 

I'll be needing a quote in a couple of weeks, can you drop me a phone number please,

 

Thanks 

1 hour ago, DAN@ADRIAN FLUX said:

Hi.

If you need any help with insurance at all then please feel free to drop me a line.

Regards,

Dan.

 

Thanks Dan.  No offence, but the problem I've always had with Adrian Flux is the broker advertises help with high risk drivers - the young and learner driver, the mature, convicted drivers, high risk occupations, performance cars, modified cars etc.   Who knows how the insurance industry works, but my guess is that AdrianFlux may well benefit it's target audience, but it's it's the boring, low risk motorist like myself who subsidizes the higher risk driver.

( I'm looking for that lot to subsidize me  )

 

My experience is that Adrian Flux have always been one of the more expensive options for folk like me.   

Edited 30 January, 20206 yr by Guest

Hi Scot5, we posted about this recently on Facebook. An EY report (covered in the Financial Times - https://www.ft.com/content/eceff0ba-129c-11ea-a7e6-62bf4f9e548a) suggests that prices need to rise in general this year due to the perfect storm of 3 main factors colliding - insurers face higher claims costs, higher government levy and higher reinsurance costs. 

 

The good news is that during a hardening market Chris Knott's service particularly comes into its own, saving more car club members and enthusiasts money. If we can help you we'd be glad to.

 

best,

Nick

On 30/01/2020 at 22:16, Scot5 said:

 

Thanks Dan.  No offence, but the problem I've always had with Adrian Flux is the broker advertises help with high risk drivers - the young and learner driver, the mature, convicted drivers, high risk occupations, performance cars, modified cars etc.   Who knows how the insurance industry works, but my guess is that AdrianFlux may well benefit it's target audience, but it's it's the boring, low risk motorist like myself who subsidizes the higher risk driver.

( I'm looking for that lot to subsidize me  )

 

My experience is that Adrian Flux have always been one of the more expensive options for folk like me.   

Ok fair enough.

I appreciate that our reputation is as a specialist non standard insurer however we do insurer a massive percentage of "standard risks" too. however we can't be competitive on every risk and there is a lot of competition for this type of business.

Regards,

Dan.

yeah just had my renewal from esure and they have tried to increase it by £88 (300 - 388) a call took it immediately down to 303 somehow but that's still more than last year??

 

1st central gave me a quote at 250 so I'm now with them.. disappointing insurers are happy to increase premiums for no reason to existing customers, surely that's not the way to retain business

Edited 3 June, 20206 yr by Gissin

I've noticed exactly the same, jumped from £420 last year to £505.  Starting shopping around now to see what others can offer.

Mine went up by nearly £40 in 2016 / 17

Down about a tenner 2017 / 18

Down about another tenner 2018 / 19, but because I forgot to cancel and it auto renewed. I overpaid by £28, but still saved a tenner from previous year.

 

2019 / 20 my (cancelled) auto renew price was £263 but same company on Conf.com cost me £192.

 

This years, same company again, up by just four quid...........I think this was the auto renew price iirc, so I did not bother cancelling.