Car Insurance Prices

[Umster]

I know shopping around helps and looking early (20+ days before renewal) is also a good way to save but has everyone else seen a decent drop in insurance prices for the last few years? 

 

I've got an M3 and it's now cheaper to insure than any car I have ever had 😏 actually feels economical to run when all the bills are considered lol

[neo]

The company i was with went up about £5 so was getting closer to £500, swapped companies and saved £155 for the exact same cover 

[Ekona]

Bearing in mind everyone’s renewal price should drop this year as insurance companies are no longer allowed to give better rates to new customers than existing ones. 
 

I did wonder why Go Compare’s latest TV ad seemed a bit odd, but this new rule has essentially made them a bit redundant!

[Umster]

31 minutes ago, Ekona said:

Bearing in mind everyone’s renewal price should drop this year as insurance companies are no longer allowed to give better rates to new customers than existing ones. 

This is a useful nugget that I did not know. Should we expect any other decent windfalls from the rule change? 

 

I've saved 20% on my insurance which was already pretty low. A few friends have also seen similar drops and we are different ages/professions/locations. 

[Ekona]

Doubt it, I’d also expect premiums to rise across the board next year to make up for the losses suffered sadly. Think my MX5 was 30% cheaper this year which wasn’t too bad at all, and I didn’t even bother shopping around at that price either. 

[DoogyRev]

Oh to be able to shop about for insurance . . ..  BC has provincial car insurance, think of it like you can only get insurance from the DVLA 😡

 

My GMC Canyon is $1500CAD for the year and the Mustang is $1800CAD 😱

[Tomato]

You are all just getting older 🤣

 

Prices will start to creep back up now lock downs are less likely to be a thing as the risk had dropped when we all have been doing less miles, less accidents.

[DAN@ADRIAN FLUX]

Hi.

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

Regards,

Dan.

[Willsy1980]

On 25/01/2022 at 20:04, DAN@ADRIAN FLUX said:

Hi.

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

Regards,

Dan.

One question you can answer as it always bugs me.

 

I work in IT, but when I said it was IT in the Private Education sector it was cheaper than when I put IT field engineer in the Hospitality Sector. 

Additionally, the first quote (current price) has Business use, commute and SDP the latter was for SDP only.

[DAN@ADRIAN FLUX]

16 minutes ago, Willsy1980 said:

One question you can answer as it always bugs me.

 

I work in IT, but when I said it was IT in the Private Education sector it was cheaper than when I put IT field engineer in the Hospitality Sector. 

Additionally, the first quote (current price) has Business use, commute and SDP the latter was for SDP only.

Just put down the information that fits more to what you do.

 

If you're ever unsure maybe best to call the insurer and ask for their opinion.

 

 

[Willsy1980]

1 minute ago, DAN@ADRIAN FLUX said:

Just put down the information that fits more to what you do.

 

If you're ever unsure maybe best to call the insurer and ask for their opinion.

 

 

Hahaha so still unanswered  How can a different job role have an impact is what I wanted to know. Its me and the car you insure, not my wage packet  

Guess quotes are just done by a random number generator or something 

[DAN@ADRIAN FLUX]

Insurance prices are affected by every detail of the client.

All i can advise to avoid any issues is to declare all the information as best of your ability. 

Its up to the insurers themselves to determine what job roles or occupations bring in a lower/higher premium, and with thousands of occupations available it would be difficult to give you an exact reason for this. 

 

[Payco]

I will never work insurance out. I have the only Datsun 510 SSS Coupe in the UK. I have a fixed value of 27k on it, value needs adjusting as going up. I have 3k limited annual mileage, max no claims and I pay Footman James £120 a year fully comp with show coverage for damage should the worst happen. Work that one out ? I paid more with Adrian Flux for my 2014 £5k Fiesta paying £230 per year !!!!

Edited January 29, 2022 by Payco

[ATTAK Z]

32 minutes ago, Payco said:

I will never work insurance out. I have the only Datsun 510 SSS Coupe in the UK. I have a fixed value of 27k on it, value needs adjusting as going up. I have 3k limited annual mileage, max no claims and I pay Footman James £120 a year fully comp with show coverage for damage should the worst happen. Work that one out ? I paid more with Adrian Flux for my 2014 £5k Fiesta paying £230 per year !!!!

Ha ha, I can beat that, £99.00 plus £15.00 for agreed value on my TR6, with Adrian Flux to start 24 Feb.   They were way out on my other cars though !

[DAN@ADRIAN FLUX]

On 29/01/2022 at 17:06, Payco said:

I will never work insurance out. I have the only Datsun 510 SSS Coupe in the UK. I have a fixed value of 27k on it, value needs adjusting as going up. I have 3k limited annual mileage, max no claims and I pay Footman James £120 a year fully comp with show coverage for damage should the worst happen. Work that one out ? I paid more with Adrian Flux for my 2014 £5k Fiesta paying £230 per year !!!!

Its very common for classic insurance to be far cheaper than modern, regardless of vehicle value etc. Again many factors for this are the classic cars are rarely on the road, normally looked after and in storage etc. The claim statistics are far less than somebody's everyday run around, hence the cheaper premiums.  

[Loadmaster]

I recently renewed my Nismo insurance with LV - just a tad under £300 fully comp, max NCB, with Ecutek and HFCs declared. The "specialist" companies didn't come close, with one even asking for the mods to be done first before they'd even look at quoting - how nuts is that?!! 

Edited January 31, 2022 by Loadmaster

[Umster]

I'll admit, in recent years, I've had zero luck with the specialist insurers. Does get frustrating after a while because there's only so many times you want to put your details into a quote engine. 

 

They also did the disservice of hiking up prices (though assume that's no longer allowed) at renewal time when they once beat Compare and Co. 

[GranTurismoEra]

London prices are the worst. Be grateful if your insurance is under £500. Mines £550 with 12 years no claims.

 

 

As one movie put it. "Incase sh*t". I stopped complaining at £1500 per year for a 1.6 11 years ago. While Essex boy racers paid £600 for the same car and the car girls paid less for being "a girl". It is what it is.