Car Insurance Hike

can be various reasons I guess

- postcode

I was told that car ins has gone up 40% in the last year for most circumstances, first time drivers under 24 are paying on average 58% more than a year ago!

Think u r right.  Insurance seems such a racket.  I was disappointed recently to 'trawl' all of the Straight Six advertisers to find they quoted between £100 to £300 more than I could find elsewhere - and these ara supposed to be specialists with car club discount!  Shop around and shop around again.  Eventually kept mine below £300 fro new small soft-top. 

as above, try classic line,  i.a.m. couldnt match their quote for my m3.  although on the other hand you only find out how good an insurance company is once you make a claim..

In 2011 mine doubled overnight, not due to my claims due to other peoples fraudulent claims

Edited by alexj - 15 Jul 2013 at 5:30pm

oh and mine is V8 4.4 litre and supercharged 500 BHP, I got a great deal.

I.v been with Classic line for a few years now, best price by far.

Im not sure I want to know about your desire Norrie :-)

ian barford wrote: Adrian flux has come up trumps for the last 2 years for my e46 m3. 5000 miles limit all for £446 they where the last on my list, I only tried them for a laugh. seemed daft not to go with them, classicline was only a couple of quid dearer but are always worth a call

Sounds like they are offering a great service Norman

I found Classicline hard to beat for the last two years (Claire has tried!), on my last renewal the underwriters removed the need to restrict the mileage AND the cost came down. I have 3 cars insured with them on a multicar policy (all "classics" - Z4MC, E30 M3, Domino Pimlico).

Norman, absolutely, it can seem quite strange sometimes when talking to people about what they pay for their insurance as what sound (on the surface) like similar risks can vary massively, however, there is usually a detail or two that to us "civilians" seem innocuous make a big difference to insurers...like postcodes and occupation for example!

alexj wrote: ian barford wrote: Adrian flux has come up trumps for the last 2 years for my e46 m3. 5000 miles limit all for £446 they where the last on my list, I only tried them for a laugh. seemed daft not to go with them, classicline was only a couple of quid dearer but are always worth a call Hi Ian, is that as a second car ?

hi alex, yes its a 2nd/3rd car
had just over 3 years, done around 12000 miles in it and thrashed it at every opportunity

earlier this year when renewing the policy with flux, I asked them for a quote on my more recent project (car 4 ) a e46 325ti. being a totally standard car, me with a full compliment of NCB and just covered a 343bhp m3 with them......they wanted over £500

apparently, it was because I was a unknown quantity with that particular car and deemed as more of a risk

i'm sure they make it up as they go along sometimes

I get my insurance via M&S Bank. I have recently swapped motors and when I rang then to change the cost on the existing policy went from £400pa to £1100pa!

But then they did a search for another policy and found one with the same insurer which was almost identical [slight increase in excess] and was only £350pa!!!

So I've gone from a 19 year old 2 door coupe to a 9 year old soft-top sports car and it's cheaper - how does that work?

Edited by thepits - 30 Jul 2013 at 11:22am

I can give an insight into how some of it works. Basically each insurer will have a fund pot. This is a moving amount of money that they are holding, increased by new subscriptions, decreased by claims. When you call an Insurer with a call centre, the person who answers the call has this ever changing information on their screen. Therefore you can call on a Monday at get one price and the next day and get another.

When we have ice, snow more claims are made and this alters the cash flow, the computer automatically recalculates so the Insurer suffers no loss, and further add risk compensation price to protect its self.

It is possible to avoid this, by a getting a guaranteed value for you car, can be done by BMWCCGB in some cases and also a broker who will quote on that fixed price. In my case I used "A" Plan and Clare gave me a good deal.

You can imagine how quickly the rates change for big insurers with 35 million cars on the road in UK.

Edited by Norrie - 30 Jul 2013 at 11:37am