Silly insurance prices

My insurance reduced last year, but has nearly doubled this year with no changes and full NCB.

2022 - £390
2023 - £320
2024 - £560

I also tried comparison websites and the cheapest I could find was £600, so have stayed with LV.

I’ll have to do a phone round. Although I’m beginning to wonder if it is because I have a Luton postcode, despite the fact I actually live in a different county to Luton.

jlines wrote:

All of mine have gone up over the past year when up until then it had been getting lower as I've got older. My SZ5 went up by £114 which I managed to haggle back down by £70 but still didn't leave me happy. Comparison sites were even more! My new commerical was a right headache to insure as that needs Van insurance and modified insurance with most refusing. Adrian flux wanted over 1k when I basically have the same car in SZ5 form for around £426. After searching around I managed to get it insured for under £700 which I'm not happy with but didn't have much choice due to needing it the next day whereas now to get the best comparison price you need to be shopping around 2 months before your renewal. I also think its one big scam at the moment and possibly even trying to get people out of cars. I can see though why it has potentially gone up when you see things like thefts (dependant on area you live), new fancy cars which are written off easily or are very expensive to repair nowadays, general idiots damaging or flooding out their cars from what you see on youtube so its no surprise its gone up. I heard someone explain how basically insurance is a big pot of money which everyone feeds into and that your not paying for just your car but also everyone elses. My SJ is up for renewal soon so will be interesting to see how much that has gone up although it has such a low value similar to bigjimny so shouldn't be too bad. For my newer Jimnys which are due for renewal in september I plan to shop around early august. Don't forgot you can quote Bigjimny as a car club/Organisation you belong to help lower insurance.



 

For obvious reasons, any insurance company will refuse to pay a claim if you do not abide by their rules and regulations and one of these is that you must drive in a responsible manner. Some years ago an acquaintance drove his brand new BMW 5 series through a local ford and effectively destroyed it. His insurance company refused the claim because he acted recklessly. 

Roger 

Gadget wrote:

My insurance reduced last year, but has nearly doubled this year with no changes and full NCB.

2022 - £390
2023 - £320
2024 - £560

I also tried comparison websites and the cheapest I could find was £600, so have stayed with LV.
 

My Gen3 went from £200 (inc breakdown) to £250 (inc breakdown), fully comp, but limited mileage (6k miles), with 4 years no claims, renewing with Churchill last October.  I know it's a lot less than you guys are paying, but my Gen 3 is worth a lot less than your Gen 4s.

Basically I haven't had a claim in about 25 years, but my no claims is used on my other car, you can't use it twice, which had been about £170 (inc breakdown) for the last few years, but was £150 (inc breakdown) fully comp, but limited mileage (5k miles) last March with Dial Direct.  I would have insured my Jimny with them, but it seems you can only have one policy. 

A bit crazy, this, I can only drive one car at once and only need breakdown services on one vehicle at once, but have to pay twice.  Also if I am unlucky enough to have a claim, I assume both policies will take a hit on the NCB?

I fully expect both to go up this year, based on what everyone is saying.

Robin

Any NCB is associated to a policy, not the individual.
If you are unlucky enough to make a claim every policy is impacted, not directly by loss of NCD on any one (you can protect it), but the favourite question "have you had an accident or made a claim in the past 5 years". You say yes they shove your premium up, even if it wasn't your fault and you got your excess back, which appears to be an indicator of liability. 

Scimike wrote:

Any NCB is associated to a policy, not the individual.
If you are unlucky enough to make a claim every policy is impacted, not directly by loss of NCD on any one (you can protect it), but the favourite question "have you had an accident or made a claim in the past 5 years". You say yes they shove your premium up, even if it wasn't your fault and you got your excess back, which appears to be an indicator of liability. 

 

Insurers have about a hundred years of statistics, and can extract the data to model pretty much anything.(31 year olds who drive green cars crash more often, and the average cost per crash is £3500 etc)

They have found that people who have an accident or make a claim- even if it is not their fault ( in the true sense of fault, rather than there was no-one to claim off) go on to have further claims, so they bump up the any premium offered to that driver to reflect the increased risk.

Think of insurance as a bet, you are betting that your car gets written off in the next 12 months, the insurer is setting the odds, so they lower the odds if they think it is more likely!