Car Insurance, why does it go up every year?

:confused:
Your current insurance is £400, last year was £600 greater than the previous, how much was the previous-how does this compute?:confused:
 
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Seriously, you don't get the point of the post? :laugh:

Jesus.



He's making the point, in his younger days, he was a bit of a speed freak, these days not.

It isn't rocket Science.

I despair sometimes, really.
He now UNDERSTANDS why the prem....OMG, I can't believe I almost bothered :laugh:

And you didn't see the point in my post? :rolleyes:

You don't have to be a speed freak to be a bad driver. Driving at 65mph on a motorway does not make you a safe driver, in fact some of the most ignorant, blinkered t*ossers drive at those kind of speeds, usually in the middle lane.

So yeah, I got his point, and I made mine.
 
:confused:
Your current insurance is £400, last year was £600 greater than the previous, how much was the previous-how does this compute?:confused:

What I meant was last year I was paying just over £400 about £450 or so. They sent a renewal though last October for £1000. I went online and found a cheaper quote and they then matched it hence I get my current insurance for just shy of 400.

This year they sent my renewal through for £800. Quotes online are about an average of £380. But Admiral won't beat any quotes this time round.

Basically I'm just seeing massive fluctuations in quotes from £350 to £1000. Surely that means there are no standards these companies follow and each company can charge as much as they deem appropriate?
 
Right or wrong, my sister was in a accident while in a taxi, no injuries were sustained, yet she got £5.000 and the children got £3.000 each put into a trust, and there's 5 children!
 
Not from what I've seen, all these quotes are for a 1.2ltr Corsa, I'm 28, my wife 26. Both in stable professional careers, live in a sleepy sea side town, car in a locked garage. No points ever on either of our licences. I know its not the claim I made almost 3 years ago, cause if I do a compare without it, its the same price!

Really?!

I insure a 3.0 litre BMW Z4 for £400 and I'm 27. By the way, keeping it in a garage is the most expensive option for car insurance. Cheapest was residents parking area for me. Go figure! :confused:

Try different occupations as well. I'm in boat sales, but opting for ship broker was a lot cheaper than salesman, sales assistant, sales manager etc....
 
Mines reduced second year in a row. I already had maximum no claim so it can't be that. I thought it was the market.


No complaint from me, this year was £87 less than last year. With swift cover.
 
KhalJimbo said:
Basically I'm just seeing massive fluctuations in quotes from £350 to £1000. Surely that means there are no standards these companies follow and each company can charge as much as they deem appropriate?

And that is how it should be in a competitive market, and you should take advantage of it.

At any one point in time some insurers will give advantageous quotes to one group over another. So expect to shop around every year.

Worth pointing out that the insurance market as a whole hasn't made an underwriting profit in over a decade. So I'm not really sure that the insurers are trying to rip anyone off or are profiteering.
 
dan yeates said:
Really?!

I insure a 3.0 litre BMW Z4 for £400 and I'm 27. By the way, keeping it in a garage is the most expensive option for car insurance. Cheapest was residents parking area for me. Go figure! :confused:

Try different occupations as well. I'm in boat sales, but opting for ship broker was a lot cheaper than salesman, sales assistant, sales manager etc....

That's cheap, I pay more on my civic type r and I'm 29 with 10 years ncb!
 
squiffy makes a good point - some insurers target certain areas of the market and some occasionally go for market share and write business at a loss. A lot of insurers lose money - it isn't like the electric / gas companies etc who make billions and still bend us over at regular intervals..

Insurance has to exist because some people are very poor at driving - the potential costs of a catastrophic claim (millions) are more than any one person would be able to afford so we all have to put money in the pot to protect the innocent motorists / pedestrians etc who get crashed into or run over.
 
Mines gone down by £400, coming in at just under £1000 fully comp on a 2l diesel 406.
Only 25 so it's not too bad. That's with admiral who are cheapest again this year
 
squiffy makes a good point - some insurers target certain areas of the market and some occasionally go for market share and write business at a loss. A lot of insurers lose money - it isn't like the electric / gas companies etc who make billions and still bend us over at regular intervals..

Insurance has to exist because some people are very poor at driving - the potential costs of a catastrophic claim (millions) are more than any one person would be able to afford so we all have to put money in the pot to protect the innocent motorists / pedestrians etc who get crashed into or run over.

Personally, I dont get why insurance isnt optional, it is for just about any other application barring protecting a mortgage, which makes perfect sense because its someone elses not insignificant amount of money your being trusted with. Controversial no doubt, but thats what I think. Insurance is supposed to be about protecting yourself, not everyone else. If they want protection, they should get their own insurance. I despise having to pay over a grand to insure a £500 car year after year. I'd be more than happy to take the chance of someone hitting me and writing off my car. £500 cars are easy enough to find. Ive never had a crash in almost 12 years, and at times I absolutely belt it around the roads. In fact, over the years Ive had a couple near misses and they have all been a low speeds and generally due to being cut up by an idiot that doesnt know how to use a mirror or blind spot. If you cause a crash by driving like a total plank, then just ban them and be done with it.

I think insurance just keeps going up because we live in a society with an ever expanding economy ideology. No matter what it will go up every year because its based on the assumption inflation is constant, everyone gets a wage rise every year, every year the population grows, and every year profits should increase. Thats obviously not hows things are panning out, but thats my cynical view on the whole thing. If I had an expensive car I'd want to insure it to protect my investment, but Ive never been that fortunate and only ever had cheap old cars, so I couldnt care less about insuring them and hate being forced to pay it.
 
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If I had an expensive car I'd want to insure it to protect my investment, but Ive never been that fortunate and only ever had cheap old cars, so I couldnt care less about insuring them and hate being forced to pay it.

That's what third party only insurance is for, that's the only insurance you are legally required to have :) Insuring your own vehicle is completely optional :)
 
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Personally, I dont get why insurance isnt optional
it's about you not being screwed (possibly for life) over death/injury to someone else due to your driving, and about them/their dependents being compensated in that event
 
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That's what third party only insurance is for, that's the only insurance you are legally required to have :) Insuring your own vehicle is completely optional :)
But in many cases its more expensive than fully comp :facepalm: But the way I see it thats why they would take insurance out for themselves. Insurance is something you buy to protect yourself, not something you buy to protect everyone else?
it's about you not being screwed (possibly for life) over death/injury to someone else due to your driving, and about them/their dependent being compensated in that event
As above really, isnt that why they take an insurance policy out? Why am I forced to pay for insurance in such an event. Sure I accept you have to accept responsible for your actions, but if I killed someone due to my driving, I wouldnt expect a claim form to make it all better, I'd expect to go to prison (which obviously does happen). I guess I just dont like how its setup right now, in that everyone buys insurance to protect everybody else, rather than themselves, its just a money spinner that forces everyone to pay whether they like it or not, and for certain events to end up with multiple policies covering those events even though duplicate payments would not be made should those events occur.

In fact, premiums might actually go down with fewer people having insurance on which to make a claim :laugh: j/k
 
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Insurance is something you buy to protect yourself, not something you buy to protect everyone else?

You are protecting yourself from being financially ruined by causing an accident. That accident doesn't have to involve hitting another car.
 
Insurance is something you buy to protect yourself, not something you buy to protect everyone else?

Actually you do as part of your premium accounts for uninsured drivers
 
imightbewrong said:
You are protecting yourself from being financially ruined by causing an accident. That accident doesn't have to involve hitting another car.

Exactly
Say insurance isn't compulsory, you don't have it and hit somebody. There in a wheel chair for life and need care everyday. You now have to pay for this care. You can't afford it, you've ruined someone else's life as well as yours and your families. You can no longer afford to provide for your family after all the money for care has come out your wages.

Sounds over the top, but there will be someone who this has happened to, where as someone's insurance will have to pay for this care for the rest of someone's life, could run into millions of pounds
 
Guess some people have never heard of the Motor Insuer's Bureau
 
Actually you do as part of your premium accounts for uninsured drivers
But uninsured drivers dont make any claims.

You are protecting yourself from being financially ruined by causing an accident. That accident doesn't have to involve hitting another car.
But thats kinda my point, if you want to protect yourself, get insurance, if your not bothered, then you shouldnt be forced to.
Exactly
Say insurance isn't compulsory, you don't have it and hit somebody. There in a wheel chair for life and need care everyday. You now have to pay for this care. You can't afford it, you've ruined someone else's life as well as yours and your families. You can no longer afford to provide for your family after all the money for care has come out your wages.

Sounds over the top, but there will be someone who this has happened to, where as someone's insurance will have to pay for this care for the rest of someone's life, could run into millions of pounds
But suppose you entirely blameless. In any case, that shouldnt even come into it, because if they wanted protection, then in my scenario, they would have done so by buying their own insurance, life / injury cover etc, which many do purchase. What about the NHS everyones also forced to pay for (I agree with that), isnt that supposed to support people in need, i.e everything required to get such a person back to a point they dont need hospital care anymore, then if they have a resultant disability, isnt that what disability benefits pay for that everybody already contributes to. How many times does a particular event scenario need to be paid for. If I hit someone, ignoring blame issues for the minute, is it right that this event is covered by possibly my insurance, their insurance, the NHS, and the disability benefits system. Thats 4 times the event has been covered by payments the affected make, but the event is a singular occurrence. Whats more the NHS and benefits system is indefinite as long as its sustainable, which it is if its run correctly.

Everytime I look at things like this, the system just seems set up to force people to pay for everything, and then in many cases, most things are covered multiple ways, but the multiplicity doesnt carry over when payments are made to claimants (obviously that wouldnt make sense anyway, but perhaps shared cost should come into it). I dont understand how people arent getting rich from it somewhere, well actually I do, because there are obviously elements of society that remain complete protected from things like recessions. I really just do think that car insurance, or any insurance for that matter, should be a personal choice based on the desire to protect ones self from possibilities.
 
But thats kinda my point, if you want to protect yourself, get insurance, if your not bothered, then you shouldnt be forced to.

So would you get insurance for walking around the town with your family?
 
So would you get insurance for walking around the town with your family?

No, but I used to have injury cover, which would cover simply walking around town etc. It was a personal choice. I dont anymore as I dont work on sites anymore and the chance of me coming into serious injury is much reduced. However, if a car did steam roller me, and I survived, and I lived in the UK, then the NHS would fix me (which I would already be paying for), I would likely get some not insignificant criminal injury payout (assuming the driver was convicted, again which is already paid for in taxes), and I would be able to claim for any subsequent disability (which our taxes cover). Is any further insurance required on top of that. If insurance companies are paying out in these circumstances despite all that is already in place anyway, is it any wander they claim to struggle making profits (which I struggle to believe anyway).

I have actually had a crash once now come to think of it, which wasnt my fault, and was in a company vehicle (I was on my way to work at the time). I was advised by the police on scene to go to the hospital at the time even though I felt ok. I had sore wrists from gripping the wheel, but I made tough enough to be able work that off, and I got a bit of a stiff neck from it, but nothing I would have called serious. The insurers from our company came to see me a couple days later, had me fill in some forms, amongst which was an automatic accident claim form. I was sent back to see a doctor, diagnosed with whiplash, and given a week or so off work in no time at all. I ended up with a payout from that, which I really didnt think I should have been entitled too. Sure I was a bit roughed up from the bump, but either I'm tougher than most people (which I actually think I probably am coming from the construction industry, there are some right pansy's about), or I dont realise whats fair and whats not. I was paid out and told I was fully entitled to do so, but I really didnt do anything with that payout that made any difference to my life had I not had it, and maybe thats half the problem with the insurance industry. The fact the insurers themselves put me straight onto the accident claim company genuinely surprised me at the time.
 
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But uninsured drivers dont make any claims.

You still have to pay for any claim on their behalf as the claims against them goes via MIB. How else do victims of uninsured car drivers get any compensation
 
You still have to pay for any claim on their behalf as the claims against them goes via MIB. How else do victims of uninsured car drivers get any compensation

How so, your insurance wouldnt pay to fix their vehicle or any of their costs, it only pays your costs, which is what you are paying your insurance for. People without insurance cant in any way shape or form claim anything from the system or insurance. Yes, if they are to blame, then they are responsible for the payment event occurring, but a genuine accident is a accident and thats why an insured party would pay insurance for themselves isnt it.

Which ever way I look at it, forcing people to pay insurance (I hate the word legal, even murder is legal if the government says to do it) is just a way to bump up revenues. I think they system needs to focus on seriously reducing accident claims, and sort out just what goes on in some of the repair centres if they want to fix where all the revenues are going. I'd bet a huge chunk of the payout funds goto accident claim companies and 'repair specialists'.
 
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Dunno why yours is going up. Mine gone down the last three years. Just don't be stupid enough to take the renewal quote.
 

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