Inflation, what inflation?

  skeletal 12:50 09 Jan 2009
Locked

Can anyone beat this (contestants must be in the UK, I know you would in some African states!)?

I’ve just had my car insurance renewal through. My circumstances have not changed at all; i.e. I’ve not slaughtered the royal family by driving at 600MPH in a pedestrian precinct etc etc. The only thing is that, obviously, the value of the car has fallen.

Last year my insurance was £433, this year it is £1038!

Depending on how you chose to calculate percentages, I make that 140% increase.

Has the effect of dear Mr. Brown printing money already started?

I'm really looking forward to my huge pay rise this year.......

Skeletal

  Colin 13:15 09 Jan 2009

Hi, Skeletal. Have your insurers given you a reason for the increase? That looks like the removal of a 60% no claims bonus.

  oldbeefer2 13:26 09 Jan 2009

'bout time for an on-line comparison site, methinks. I check at each renewal (of the three family cars) and usually change insurers. Not necessarily the cheapest, but based on value for money.

  skeletal 14:03 09 Jan 2009

No, there was no reason given.

My broker has already found an alternative at a bit below last year’s price (and I may do a bit of digging myself) so I’m not too bothered.

It was just the phenomenal increase that raised my eyebrows!

Skeletal

  red1977 14:28 09 Jan 2009

I think insurance companies rely on the laziness or reluctance of existing customers to change insurers. You may get a better deal if you apply as a new customer. I did for my house insurance and saved £120 per year.

  donki 14:33 09 Jan 2009

But sure at the new lower rate of intrest you will be able to pay it off over the year at very little extra :).

  spuds 17:49 09 Jan 2009

I think red1977 as hit the nail on the head.

Pays to do a comparison check every year, and change when need be.My vehicle is due for renewal insurance shortly, and I am beginning to receive the Welcome Back circulars. Considering the fact that most of the previous insurers increased substantially my insurance after the first year, they might have another disappointment this year.

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