Morning all, just had my renewal through from Direct Line. Last year I paid £324, my premium quotes for renewal is £472. That’s quite a hike even with the rise in inflation.

Are insurance companies taking the proverbial with their renewals in the hope people will just accept thinking that “it’s just another bill going up” or are they seriously being affected by the current state of affairs (i.e. repair materials and labour cost rise etc)?

Mine went down almost 30% at the start of this year, mystifyingly. It was on an auto-renew, so I let that happen!

Lloyds bank car insurance I think.

Mine has been increased, even though I have a smaller engine than on my old Superb, or I will have when I collect it on Thursday, some 4.5 weeks after I first put a deposit on it, held up waiting for a replacement headlight from the factory.

Really worth while keeping an eye on those auto-renewals - SWMBOs Fabia renewal due in June, renewed last year with existing provider at a small increase over the year before  - this year they quoted a massive, almost 100% increase! Got (and accepted) a comparison quote that is actually lower than last years, with exactly the same cover.

Interesting to see vehicles estimated value is higher than we paid for it.   

Edited 30 May, 20232 yr by Warrior193
repetition

Hi, Unfortunately insurance premiums have increased massively over the last 12months, this is a cross all lines of business (Motor, Household etc). It is mainly as a result of repair costs, materials and labour costs. As always, we would love the opportunity to provide you with a quote, we can try to match or beat your online quotes OR discount your renewal. Feel free to give the team a call: tel:08009172274 or visit our website: Briskoda Owners Club : Chris Knott Insurance

Many thanks. 

 

 

2 hours ago, ChrisKnottIns said:

Hi, Unfortunately insurance premiums have increased massively over the last 12months, this is a cross all lines of business (Motor, Household etc). It is mainly as a result of repair costs, materials and labour costs. As always, we would love the opportunity to provide you with a quote, we can try to match or beat your online quotes OR discount your renewal. Feel free to give the team a call: tel:08009172274 or visit our website: Briskoda Owners Club : Chris Knott Insurance

Many thanks. 

 

 

 

So in light of the increase - what do insurance companies do about keeping repair costs down, not using inflated parts and labour figures?

 

Typical example from a while back - a small bump on a wing requiring a new wing and paint.  Repair quotes to go through insurance varying from £800 to nearly £1,200; repair quote with no mention of potentially going through insurance £270.  The former  quotes included various 'items' that were not actually needed and vastly inflated parts and labour costs.  This is not uncommon in my and other's experience.

 

Now I'm not saying ChrisKnott do not try to keep costs down but, as an industry the general it seems it's not a priority, when it should be.

9 minutes ago, skomaz said:

 

So in light of the increase - what do insurance companies do about keeping repair costs down, not using inflated parts and labour figures?

 

Typical example from a while back - a small bump on a wing requiring a new wing and paint.  Repair quotes to go through insurance varying from £800 to nearly £1,200; repair quote with no mention of potentially going through insurance £270.  The former  quotes included various 'items' that were not actually needed and vastly inflated parts and labour costs.  This is not uncommon in my and other's experience.

 

Now I'm not saying ChrisKnott do not try to keep costs down but, as an industry the general it seems it's not a priority, when it should be.

Wow, how do they get away with this?!

 

I bet your excess was higher than the repair cost too. I know mine would have been in this case.

More use of recycled parts and more economic repairs are part of the answer, as well as everyone down the line not filling their boots from the first call that there has been an accident.

There are companies better than others, and there is some very pathetic actions by some Insurers as members here know only too well.

There are some ridiculous prices charged on replacement new parts & also huge profits to be made by those involved in the re-sale of Insurance write offs and accident damage un economic repairs that others then economically repair and they are then back in the motor trade on sale.  (That is not all DIY'ers not counting their time.)

 

 

 

 

 

 

 

15 minutes ago, skomaz said:

 

So in light of the increase - what do insurance companies do about keeping repair costs down, not using inflated parts and labour figures?

 

Typical example from a while back - a small bump on a wing requiring a new wing and paint.  Repair quotes to go through insurance varying from £800 to nearly £1,200; repair quote with no mention of potentially going through insurance £270.  The former  quotes included various 'items' that were not actually needed and vastly inflated parts and labour costs.  This is not uncommon in my and other's experience.

 

Now I'm not saying ChrisKnott do not try to keep costs down but, as an industry the general it seems it's not a priority, when it should be.

I think that a lot of the problem can be summarised as:-

1. There are to many various companies involved in the claims / repair dep't, each and everyone is looking to make a handsome profit., there is the accident handling companies who handle the claims procedures and the issuing of hired replacement vehicles and the appointing of a firm of automobile assessors to assess the damage.

2. The appointed assessors do not now go and stand in front of  the vehicle, instead they look at photos of the damage and the repairers quote and then use a computerised programme to estimate what parts are required at full cost regardless of the fact that the damaged part will more then likely have dents pulled/tapped out and then get a thin skim of filler, but will still allow for new panels, and painting, knowing full well they are seldom going to be ordered or fitted.

Even the repairer will be looking to make a handsome profit, and some will even be looking to fit second-hand parts whenever possible.

 

I don't think this whole business model is morally corrupt and yet, I was told by the the third parties insurance when their driver wrote my car off, that I, the innocent party had a legal and moral duty to assist in keeping the overall costs as low as possible. They offered my a final settlement figure of £8,200 for my car and thought that I could find a another car of the same type and condition that mine was for that value, WTF, they were being listed for around the £11,000 mark.

 

Potentially also an issue with 'false' medical claims associated with accidents and inflated hire car costs (compared to the rates we get through work)?

 

I'm sure these medical stuff is checked but it was amazing how many times I was asked if I was sure no one was injured and I didn't have whiplash when I was rear-ended a couple of years back...   I can imagine some people would respond 'yes I've got a slightly stiff neck' and off it spirals...

 

Then again maybe I'm just very cynical...

 

21 minutes ago, toot said:

More use of recycled parts and more economic repairs are part of the answer, as well as everyone down the line not filling their boots from the first call that there has been an accident.

There are companies better than others, and there is some very pathetic actions by some Insurers as members here know only too well.

There are some ridiculous prices charged on replacement new parts & also huge profits to be made by those involved in the re-sale of Insurance write offs and accident damage un economic repairs that others then economically repair and they are then back in the motor trade on sale.  (That is not all DIY'ers not counting their time.)

 

 

 

 

 

 

 

Totally agree, I follow this channel on YT and if anyone follows this channel they will know how the source their parts/panels, many come from breakers yard, ebay etc as well some are sourced from the dealers.

 

(533) WE BOUGHT A CRASH DAMAGED SALVAGE 2021 MERCEDES A220 - YouTube

7 hours ago, CookieMonster87 said:

Morning all, just had my renewal through from Direct Line. Last year I paid £324, my premium quotes for renewal is £472. That’s quite a hike even with the rise in inflation.

Are insurance companies taking the proverbial with their renewals in the hope people will just accept thinking that “it’s just another bill going up” or are they seriously being affected by the current state of affairs (i.e. repair materials and labour cost rise etc)?

My uncle's renewal with AA went from £472 to £771 despite no accidents or claims. I found him RAC at £583 then he suggested that as I visit him often we should add me as named driver and it dropped again to £493.

Mines jumped from £340 to £450 to 33% increase - funny though as I dont recall my salary going up that much!! LOL  Trouble is I cannot find it cheap online (Go Compare/Compare the market are all around £550 or more) and Adrian Flux use Highway as the underwriter and they absolutely slated re paying claim and like 1* on Trust Pilot and I recall years back with motorcycle insurance they would weasel out of paying out in full.  So 33% hike it is and stay with Hastings....

1 hour ago, Nigel_S said:

Mines jumped from £340 to £450 to 33% increase - funny though as I dont recall my salary going up that much!! LOL  Trouble is I cannot find it cheap online (Go Compare/Compare the market are all around £550 or more) and Adrian Flux use Highway as the underwriter and they absolutely slated re paying claim and like 1* on Trust Pilot and I recall years back with motorcycle insurance they would weasel out of paying out in full.  So 33% hike it is and stay with Hastings....

Have you paid yet?, send me a PM and I'll ping you back a dedicated link that may get you a better price, well worth a try.

2 hours ago, Graham Butcher said:

Have you paid yet?, send me a PM and I'll ping you back a dedicated link that may get you a better price, well worth a try.

No, not renewed yet, still have 3 weeks

1 hour ago, Nigel_S said:

No, not renewed yet, still have 3 weeks

 

3 hours ago, Graham Butcher said:

Have you paid yet?, send me a PM and I'll ping you back a dedicated link that may get you a better price, well worth a try.

If you can post it everyone might benefit 👍👍

6 minutes ago, Nigel_S said:

 

If you can post it everyone might benefit 👍👍

No, I can't post it openly, much as I would love to, the company I'm with will not allow their members to flood forums with these links. Full disclosure here, I have to sent anybody who wants one, a personalised link and if that person then joins, I get an introduction fee as a reward. Then that new member will after a while get invited to send out personalised links to try and earn their own introduction fees.

 

That is I believe to be respected and then anybody, who like me, think it is a good idea and can genuinely save money are free to do their own invites to their friends etc. If we kill it stone dead, then the scheme will cease to operate I'm sure.😇

Will you then be pestering them with Amway? 🤣

I pay my van monthly on the drip with Lloyds Van Insurance and last year it went down to £19 a month from £24 which was nice and this year it went to £25 a month & that was them brokering it & now with Ageas and with key cover. 

Mine has also leaped to £472 from £305. I wondered if they were sneakily recovering the cost of a windscreen claim but obtaining fictitious quotes not mentioning the windscreen didn't help,  all the other quotes were higher than Churchill. Aside from here I've seen other reports of massive increases in premiums. Is it age (69) or is there massive inflation in insurance.

Changing topic slightly, reading my renewal seems the maximum NCD after 9 years is 24%, this may be a false memory but I seem to recall as a youngster in my 20's (so the 70's)  you could get up to 60%.

RAC wanted to increase my insurance from £383 to £487, with a bit of shopping around I've switched to Aviva for £395.

7 minutes ago, SurreySlowCoach said:

Changing topic slightly, reading my renewal seems the maximum NCD after 9 years is 24%, this may be a false memory but I seem to recall as a youngster in my 20's (so the 70's)  you could get up to 60%.

I would question that. Normally it is still up to 60% 

Hi.

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

Regards,

Dan.

My renewals in, up from £335 to £624! We had a Freelander until early April, trading it in for our Karoq Sportline. At the time we paid a minimal amount upon transfer so I assumed the change in the vehicles wouldn’t greatly affect the premium upon renewal. Clearly wrong. So went on line to run the usual searches and not much joy, no significant decreases anywhere. We have a linked buildings/contents policy which I hoped might afford me some bargaining power. Called insurer who without little effort dropped the car premium down from £624 to £484! Home policy dropped from £205 to £189. Still a few weeks to renewal so holding off payment, may call again nearer the time to see if they really are their final figures 🤞

It seems that premiums have gone up across the board yet the insurers can still reduce the renewal at the drop of a hat. Must be recovering the saving I’ve been offered from some gullible punter who simply pays what’s asked 🤔