Thought you'd be a Range Rover man. You enjoy working in insurance then? They'll all be going bust soon then won't they, losing all that money? Do they ****, they don't want to know when someone actually wants to make a claim.
When trying to sort the lads insurance a couple of years ago one of the many I spoke to told me the smaller cars for youngsters were in many cases more expensive to insure. He got a 1.4 Corsa which was cheaper to insure than a 1.0, still £3.5k mind. Two years no claims later & it's less than £500. First year for youngsters is legalised theft.
How will they go bust? They offset the losses against profits made from all the other areas of insurance. And that's not every company who made those losses it's motor insurance as a whole.
But the actuaries, who create the ratings, only have stats to work from. If a 20yr old is 75% more likely to crash than a 40yr old then how can people complain about young people's insurance been much higher than someone in middle age? I know it's a pain but providing you don't get involved in any accidents or gain any points your insurance will come down quite rapidly if you shop around every year.
I know that after this year it will be cheaper, when money is involved the long term is hard to consider
There's nothing wrong with using stats but they pick and choose the stats they want. I fall into a demographic statistically 90% less likely than the average driver to have an accident, but they don't want to know about that. If you're young and it's an excuse to charge you more they're all for statistics! They have absolutely no accountability for these algorithms they use and don't even have to justify them to anyone.
I don't bother shopping around anymore. It makes little difference as I pay so little. £18 a month for my car and £22.00 for the wifes. We get a discount for insuring both our cars and because of her union discounting scheme.
Why don't they make it clearer what goes in? I got bumped up because I moved to a house with no garage, but no reduction when I moved to one with. Also, why can't they put a site together so you can see what effect each element has? Buying a car for a 1st timer's hard enough and the insurance is a massive factor, but you end up having to simply hope you've picked the right car for the insurance. But all that "how much was your last quote" sums it up for me. Why not stop farting about and give me your best one, instead of trying to see what you can squeeze out of me?
The garage probably made a very small difference if any, the change in postcode will have been what caused the increase etc
Are you sure it was the premium that went up and not an admin fee? You moved to the exactly the same postcode?
This is why people should try and use a broker, you don't get problems like that with a broker and in the event of a claim they can get you far better settlements than if you go direct.
I don't recall, it was a good few years back. I recall bits of the conversation where they were looking at other companies to see if it altered, which is why I'm sure it was a broker.
Motor insurance isn't so much of a problem but I would always recommend a broker for home insurance. Too much small print to understand unless you're fluent in insurance
It's interesting you say that, because I was talking to someone the other day, and like me, they didn't hunt around half as much for house insurance as we do for car insurance. To be fair, my house insurance company have been fantastic on the occasions I've needed them. (Ironically, given your post, they're not a broker.)
The problem with house insurance are most people don't read the endorsements on their policies. For example, you may tell insurers you have an alarm. They will then add an alarm endorsement and most of the time when you read it the endorsement usually states that unless the alarm is switched on every time you leave the house unattended unless the alarm is on you may not be covered for theft etc. but what is the definition of unattended? Many insurers would class you nipping next door to your would be leaving your house unattended. Who would think to switch their alarm on in that situation? Insurers will add locks endorsements on to a policy so you may not be covered unless you lock every accessible window and remove the key every night. There are loads of endorsements like these.
