[IftiBashir]

Paid £712 for my car insurance last year.
Based in East London.

BMW X5 - 2019 model. Have a Ghost Immobilser installed, as well and front and rear dash cams (on top of the vehicles own 360 cameras)

I have had no claims, no points/convictions, no house move, same car, no modifications, 17 years no claims - so no changes whatsoever.
Renewal came through at £1460!
Gave them a call and they kindly discounted it to......£1408!

Looking online, they are all mega expensive this year - I don't understand it! Even Tesco, who were generally quite cheap, quote me £2500!

I was expecting a small increase due to inflation etc, but more then double?! Can't seem to find anything cheaper!!!

[nicklepop]

Yes it’s crazy isn’t it. I have just had some quotes recently and the 2 cheapest by far was Saga and eSure. Still over £900 though…..

[IftiBashir]

Originally Posted by nicklepop

Yes it’s crazy isn’t it. I have just had some quotes recently and the 2 cheapest by far was Saga and eSure. Still over £900 though…..

It was Esure I was with last year for £712, and their renewal is just over £1400 - although its still one of the cheapest I can find!

Esure Flex is a little less at just under £1300, but I'm not sure what the difference is compared to 'standard' esure..... May give them a ring later and ask...

EDIT: So it seems esure flex is the same company but its online only - so everything is done online.......
Its around a £150 cheaper for me, so may go with that.........

[BMPHIL]

Originally Posted by IftiBashir

Paid £712 for my car insurance last year.
Based in East London.

BMW X5 - 2019 model. Have a Ghost Immobilser installed, as well and front and rear dash cams (on top of the vehicles own 360 cameras)

I have had no claims, no points/convictions, no house move, same car, no modifications, 17 years no claims - so no changes whatsoever.
Renewal came through at £1460!
Gave them a call and they kindly discounted it to......£1408!

Looking online, they are all mega expensive this year - I don't understand it! Even Tesco, who were generally quite cheap, quote me £2500!

I was expecting a small increase due to inflation etc, but more then double?! Can't seem to find anything cheaper!!!

Have just had a quote for M50i which is arriving next month and is just over £700, paid £330 last June for my 40i, I live in Dorset so big difference and always use the comparison sites.

[G Whizz UK]

Mine went up some last year, and quick check, looks like gone up again, to c£700 (cheapest £580). Some of it is down (they claim) to the new legislation about pricing everyone the same, but still...
For the first time last year, my current insurer proved to be the cheapest
With 4 cars to insure, all roughly at the same time, it's going to be rough!

[AP]

Car crime is up I’m afraid. Presumably due to the cost of living crisis.
I know range rovers are practically uninsurable in London now as they are frequently stolen

For reference live in south west London with a m550 and mine is £875
Decades of no claims and no speeding offences

Thought that wasn’t too bad to be honest was expecting 4 figures given the engine

Got myself a steering lock for it aswell which will hopefully deter .

But yes cliche, everything is expensive now

[X6ix GTA]

Originally Posted by AP

Car crime is up I’m afraid. Presumably due to the cost of living crisis.
I know range rovers are practically uninsurable in London now as they are frequently stolen

For reference live in south west London with a m550 and mine is £875
Decades of no claims and no speeding offences

Thought that wasn’t too bad to be honest was expecting 4 figures given the engine

Got myself a steering lock for it aswell which will hopefully deter .

But yes cliche, everything is expensive now

Car thefts are certainly all time high. Here in Toronto, Range Rovers, Lexus RXs and Honda CRVs are being stolen every day.

Additionally, the P&C insurers have been facing extreme catastrophic losses across the globe over past few years. Market volatility isn't helping the investment returns either. Hence we are seeing these premiums increase.

[G Whizz UK]

Originally Posted by AP

Car crime is up I’m afraid.

Yes and no. Up from last year, yes, but lower than 2019, and 1/3rd of what it was in 2002. But I take your point.

Our local town is having a spate of car windows broken - it's running at 7 or 8 a night at least, pretty much every night, in a very small town (c 40,000). Though, given excesses, I wonder how many would go through insurance anyway

[AP]

What I’d like to do to these people stealing and damaging cars would no doubt be removed by the moderators!

[IftiBashir]

So another year on and another price hike.

Previously went from £700, up to £1408.
This year my renewal has just come through.......at £2700!!!!!
Thats £2000 more then I used to originally pay 2 years back!

This is coming from a driver with a completely clean license, no claims, no points, and 18 years no claims discount!

Called them and they wouldn't budge at all - saying their system no longer lets them move any pricing. Politely told them not to auto-renew!

Had a look on some comparison sites over the weekend. Found teh cheapest to be £1400 but its with 'Marshmallow Lightest' which is stripped right down - main concern here is that it doesnt cover if you're hit by an uninsured driver! With the way things are going there are likely to be a few of those around soon I think! Hence next cheapest is £1590, so another £200 hike from last year.

Ridiculous!

[LuckyBrand]

Originally Posted by IftiBashir

So another year on and another price hike.

Previously went from £700, up to £1408.
This year my renewal has just come through.......at £2700!!!!!
Thats £2000 more then I used to originally pay 2 years back!

This is coming from a driver with a completely clean license, no claims, no points, and 18 years no claims discount!

Called them and they wouldn't budge at all - saying their system no longer lets them move any pricing. Politely told them not to auto-renew!

Had a look on some comparison sites over the weekend. Found teh cheapest to be £1400 but its with 'Marshmallow Lightest' which is stripped right down - main concern here is that it doesnt cover if you're hit by an uninsured driver! With the way things are going there are likely to be a few of those around soon I think! Hence next cheapest is £1590, so another £200 hike from last year.

Ridiculous!

Thats alot over 2 years! The way things are going only the rich and elite will be able to afford to drive a vehicle soon. Car insurance in the states is way up as well. Not sure I've seen a hike like yours though? I don't see how they think people can absorb hikes like that. Good luck with your search!

[matowi]

Many factors are at play here. Insurance in general is going through what's called a "hard market" - which is a fancy jargon term for a period of industry-wide price increases (or "rates" as it's called). My bet is that whichever carrier, broker, agent, or other intermediary you call, they will ALL quote much higher prices. You won't find a provider who would charge you what you paid a year, or two years ago. Why would they skip the market milking opportunity?

There can be more specific factors impacting your personal valuation as well. Your car age may have hit a bracket of increased malfunction risk. Your own age may have moved to a generally more risky category. The area where your car is registered may be experiencing higher risk of theft or vandalism. These are just very generic and obvious factors - and rest assured the actuaries at the insurance companies are paid very decently to invent hundreds of factors for profiling you as a driver and as a "risk" - hence "rating" you as accurately as possible. And... go easy on the shopping around, as the number of quotes you get may negatively impact your price (more requests = higher risk because you may seem to have something to hide)

Sorry for no good news

[BMPHIL]

I changed my insurance on March 1st from a 2023 M50i to a new M60i, my policy is with Admiral and expires at the end of April, I received a £39 refund - odd!.
Will be interested to see what the yearly cost is when it comes next month.

[matowi]

To add to the above... Be glad you're from Europe (though **no longer** EU). You enjoy much tighter personal data protections than our friends from US, where the insurance companies will collect THOUSANDS of data points about each individual and have advanced data analytics to profile you to know more about you than you do yourself. My favorite example from last week is a mechanism to increase insurance rate for lying - a company knew from the credit card billings that a customer bought pet food, while on the insurance inquiry they stated "no pets". House insurance quote went "through the roof"


On another note - the rates also reflect general price environments, in case of cars particularly the labor and parts. All of those went significantly up in recent years

[BlkGS]

Home insurance in the US isn't much more expensive if you have a dog. I don't think they even asked us about our dog last time we got insurance.

I sirance rates are rising because crime rates are rising, and currency values are dropping. I'm not going to delve.into the reasons for.that as people would say it's political, but suffice to say your insurance rates won't go down when there's an increased rate of car thefts, etc.

I'm sure there's places in the US seeing the large premium increases that you did, but I haven't seen them yet here in FL. That said, my insurance did go up quite a bit having the BMW vs American cars. I assume it's a BMW drivers are more statistically likely to crash their car kinda thing, but was surprised considering the safety of the X5.

[TurtleBoy]

Originally Posted by BlkGS

Home insurance in the US isn't much more expensive if you have a dog. I don't think they even asked us about our dog last time we got insurance.\

It is a standard question to get home owner's insurance so I'm sure they did. Depending on the breed the company may not offer a policy or just have an exclusion that they don't cover dog bites no matter what the breed is. Always best to make sure you have coverage.

[BlkGS]

Originally Posted by TurtleBoy

It is a standard question to get home owner's insurance so I'm sure they did. Depending on the breed the company may not offer a policy or just have an exclusion that they don't cover dog bites no matter what the breed is. Always best to make sure you have coverage.

I remember my policy in NC asked about the dog. We had a lab/rott mix at the time (well, he looked like that - he was a shelter dog so who knows). We called him a black and tan lab and they were fine with it, one the companies we got quotes from had a list of dog breeds they didn't insure homes with. I've never had a DNA test done on a dog, so I dunno how that breed restriction stuff would ever work.

It may just be something I don't remember from moving to FL, they had a lot more questions about roofs, windows, etc. They actually sent out an inspection type person to validate the house roof and windows and such.

Our current dog is the friend list lab ever. He wouldn't bite anyone... I less they came.in his house uninvited. Someone who made that poor choice would have much more severe concerns than the dog biting them however. They could also probably bypass any protection he would do by giving him some snacks. If a would be home I Vader brought a bad of goldfish for the dog he might just take their side.

[X3_Alaska]

Originally Posted by BlkGS

Home insurance in the US isn't much more expensive if you have a dog. I don't think they even asked us about our dog last time we got insurance.

I sirance rates are rising because crime rates are rising, and currency values are dropping. I'm not going to delve.into the reasons for.that as people would say it's political, but suffice to say your insurance rates won't go down when there's an increased rate of car thefts, etc.

I'm sure there's places in the US seeing the large premium increases that you did, but I haven't seen them yet here in FL. That said, my insurance did go up quite a bit having the BMW vs American cars. I assume it's a BMW drivers are more statistically likely to crash their car kinda thing, but was surprised considering the safety of the X5.

Not also discussed are simply the insane prices to replace/repair parts on new cars. A headlight used to be $250 now they can be $3k.

[P1]

Don't get me going on car insurance. I'm absolutely seeing red when I see my State Farm and Allstate rates going up AGAIN.

And guess what's contributing to this? Entire hordes driving around with absolutely zero insurance and will face zero repercussions when either caught or at fault for an accident.

It's time to bring back law and order!

[BlkGS]

Originally Posted by P1

Don't get me going on car insurance. I'm absolutely seeing red when I see my State Farm and Allstate rates going up AGAIN.

And guess what's contributing to this? Entire hordes driving around with absolutely zero insurance and will face zero repercussions when either caught or at fault for an accident.

It's time to bring back law and order!

If you're driving without insurance, your car should be impounded. They do that if you're street racing, there's no reason that it shouldn't be for willfully violating the requirements to.operate a vehicle.

[TurtleBoy]

Originally Posted by P1

It's time to bring back law and order!

We shouldn't get political but unfortunately I think those days are gone and very unlikely to come back.

[P1]

Originally Posted by TurtleBoy

We shouldn't get political but unfortunately I think those days are gone and very unlikely to come back.

The pendulum tends to swing back pretty hard!