GR Yaris Insurance hike

[GRYDC5]

make sure you're giving us a call at Howden Specialist Vehicle - 01635 874646. make sure to mention you're part of the forum as well

Hi Ben. I did, but apparently your specialist underwriters didn't like my postcode. The agent I spoke to was helpful and tried, but the best he could do was > £2000. Thanks anyway.

 

[GR-Admin]

Article on the BBC today about young driver premiums - we were all young once and I know we've had a couple of new drivers own GR Yaris & GR86.

The quote below is awful and presumably not specific to just young drivers.

According to the ABI's own analysis of 28 million policies, drivers insurance costs rose between July and September by an average £561, up 29% compared to the same time in 2022.

Young drivers face £3,000 cost for car insurance

Inflation and repairs have sent quotes soaring for younger motorists, according to data.

www.bbc.co.uk

 

[Spirited]

Article on the BBC today about young driver premiums - we were all young once and I know we've had a couple of new drivers own GR Yaris & GR86.

The quote below is awful and presumably not specific to just young drivers.

Young drivers face £3,000 cost for car insurance

Inflation and repairs have sent quotes soaring for younger motorists, according to data.

www.bbc.co.uk

Thank you! Three just-as-awful quotes from the same article:

Overall, on average drivers face paying 58% more on car insurance compared to last January.

Average price rises for car insurance across all drivers rose by £366 to £995.

The Association of British Insurers (ABI) said [...] that it was important that motorists never drove without cover and urged anyone struggling with costs to speak to their insurers.

And a usuful link from the same article:

How to reduce the cost of motor insurance | Car insurance | | ABI

The cost of motor insurance varies significantly from driver to driver, so we've put together a few tips on how you can reduce the cost of your motor insurance. Remember, it is always worth shopping around to find the best deal for you.

www.abi.org.uk

 

[GRYDC5]

Guardian reporting on the same source today too:

Average car insurance cost in UK nears £1,000 after prices rise 58%

Young drivers face huge increases as soaring costs help push up inflation

www.theguardian.com

 

[gr-fun]

It won't be long before owners with a good driving record will need to provision 10% of the cars value just for insurance costs.

 

[HowdenSpecialistInsurance]

Hi Ben. I did, but apparently your specialist underwriters didn't like my postcode. The agent I spoke to was helpful and tried, but the best he could do was > £2000. Thanks anyway.

ah, okay, well apologies with not being able to get anything sorted for you this time, make sure to come back to us next year as many aspects within insurance change all the time!

Cheers

Ben

 

[Old64er]

My son passed his test last week, I bought him a Suzuki Alto and insured it for him. Not a cheap experience at all.
A friend has an AMG A35 saloon and his insurance has gone from £350 to over £700 since last year.

 

[RallyRob]

make sure you're giving us a call at Howden Specialist Vehicle - 01635 874646. make sure to mention you're part of the forum as well

I resigned with you guys for this year (active from December 23), even though my premium had doubled from ~£375 to £750, you guys were there or thereabouts compared to the rest of the industry. The one thing i forgot to mention was that i'm a member on here to see if i could have squeezed even a few added bonus percent off the premium...too late now i guess!

 

[HowdenSpecialistInsurance]

I resigned with you guys for this year (active from December 23), even though my premium had doubled from ~£375 to £750, you guys were there or thereabouts compared to the rest of the industry. The one thing i forgot to mention was that i'm a member on here to see if i could have squeezed even a few added bonus percent off the premium...too late now i guess!

good to hear that you sorted it with us again for this year! we do always try to be as competitive as we can be! It's always worth mentioning that you are part of groups/forums etc. just make sure to mention it next time and im sure we can sort it out!

Thanks

Ben

 

[GR-Admin]

The one thing i forgot to mention was that i'm a member on here to see if i could have squeezed even a few added bonus percent off the premium...too late now i guess!

D'oh!

 

[RallyRob]

D'oh!

Yup...hindsight is a dangerous thing...

 

[midlife_sportscar]

My Dad's renewal (82, max no claims, clean history) on his Skoda 1.2 Yeti doubled from £300 and something last year to over £700 this time.
He thought it was just the usual renewal hike, but I warned him it might be across the board.
Sure enough, after doing the comparison sites etc, his renewal quote was actually the cheapest he could get.

 

[gr-fun]

Prices will continue to rise in 2024.

Warning cost of car insurance to rise this year

The Financial Conduct Authority says it was "monitoring" the sharp rise in insurance premiums.

www.bbc.co.uk

 

[Kaxe]

My 2nd car will have to go then as it just won't be justifiable to go from an affordable luxury at £250 a year to £500-odd come renewal time!

 

[Jonyboy]

I wonder if electric cars are cheaper to insure

 

[Spirited]

I wonder if electric cars are cheaper to insure

I believe, they currently range from more expensive to uninsurable.

 

[bf1_irl]

Well I suppose it's (sort of) good to know that everyone is in a similar boat.

If it makes anyone else feel a little better about their own hikes, I live in a high risk postcode area and this is what I'm having to swallow...



View attachment 23877

I’ve just had a similar renewal quote form Direct Line..
Will be giving @HowdenSpecialistInsurance a call when I get 5 mins to myself within business hours.

 

[idrinkbeer]

I'm in God's own country ( norn ireland) my insurance rose from £340 to £380 with 3 years no claims......iv had to build up my no claims as I drive a van and lost my car no claims which I think is a scam.... 20+ years on van and 20+ on bike . I'm 59years young and damned goid looking.... ..and modest.

 

[Duke]

I find the discussion on insurance fascinating.

The UK car insurance market is hopelessly opaque and out of date, but other markets surely face the same increases in repair/third-party costs, and similar general inflationary pressures, yet don't seem to all be hiking premiums in the same way.

Insurance is crazy expensive here (seriously, it's far more than anyone has posted in this thread!) but I looked at the change in premiums since I bought the car.

2022 baseline
2023 renewal -2.5%
2024 renewal +2.3%

So, in three years I'm basically paying the same € amount, with the erosion caused by inflation probably about 6-8% less in real terms. I would say all the bleating about increased costs might be more accurately expressed as 'we want to make more money and this is a convenient cover'.

It may be eye-wateringly expensive here (although insurance here is 'any driver' by default, and I have a lot of policy options) but at least the premium is transparently compiled, the bonus/malus system showing exactly what discounts you get on the various components that make up the total.

None of this nebulous 'no-claims discount' throw-a-six-to-start nonsense that you can't challenge or compare between providers, and which can be arbitrarily modified as someone in this thread experienced.

 

[midlife_sportscar]

My renewal went up 75% from last year (£390 to 680).