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Massive hikes in insurance premiums? Watch

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    Have any of you who have been driving for a bit found massive hikes in your insurance premiums?

    I'm just trying to do my car insurance and my broker sent me a quote for the best policy for me and it's £200 more expensive than my one last year. I'm 21 now and have another year of no claims bonus (taking me up to 4 in total) so I don't understand why it's gone up so much. I went on gocompare to have a look see and they are doing ones for about the same as I got last year but my dad is adamant that I should take the one from the broker as the excess is only £100 whereas the ones on gocompare are £250+. Anyway, that's a bit of random info... why on earth has my insurance gone up so much?
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    Yeah, I had a similar story - I did get a reduced premium, but only because I changed insurer and also moved to a lower risk area and park off road. I seem to recall hearing somewhere that insurance premiums have risen by about 20% on average, and young people's car premiums by more. One thing to check is whether you now have protected NCB - you can normally get it after 4 years, but it costs quite a lot. If your broker's been offering you that getting rid of it will probably save quite a bit of money.
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    i worry about the time i have to renew my insurance (early april 2011); i did a check on some price comparison sites, and if i was to purchase cover now it'd cost me around £340...... i paid around £260 in april. so to have to pay around £80 more despite having an extra year's no claims=UNCOOL ;(
    ....hopefully it'll go down a little bit by april, though?! - after all,the companies seem to have increased prices a little bit because of the non-driver-friendly weather we've been having at the lately (or i at least HOPE this is a reason xD).......
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    I dunno but I agree with you, increases in price when you have more no claims bonus isn't cool at all.
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    (Original post by NOBODY MOVE!)
    i worry about the time i have to renew my insurance (early april 2011); i did a check on some price comparison sites, and if i was to purchase cover now it'd cost me around £340...... i paid around £260 in april. so to have to pay around £80 more despite having an extra year's no claims=UNCOOL ;(
    ....hopefully it'll go down a little bit by april, though?! - after all,the companies seem to have increased prices a little bit because of the non-driver-friendly weather we've been having at the lately (or i at least HOPE this is a reason xD).......
    Ive been doing the same as you- looking for quotes now to see what they would be, even though ive not got to renew untill march. Some quotes have gone down. But others are £200-£400 more expencive- bearing in mind i will (hopefully) have a years no claims then which i dont have now, and its also for less cover (i had fully comp insurance this year- the quotes i got were for third party fire and theft)
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    (Original post by CurlyBen)
    Yeah, I had a similar story - I did get a reduced premium, but only because I changed insurer and also moved to a lower risk area and park off road. I seem to recall hearing somewhere that insurance premiums have risen by about 20% on average, and young people's car premiums by more. One thing to check is whether you now have protected NCB - you can normally get it after 4 years, but it costs quite a lot. If your broker's been offering you that getting rid of it will probably save quite a bit of money.
    I read about insurance premiums going up somewhere too.
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    I'm just 22, and my insurance dropped by £120 this year, to £380 fully comp with breakdown cover. Not bad for a male on a modified, V8 engined saloon car tho'

    I didn't even bother to phone around this year to try other insurers, as I was busy with uni work when the renewal was due...
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    (Original post by NOBODY MOVE!)
    after all,the companies seem to have increased prices a little bit because of the non-driver-friendly weather we've been having at the lately (or i at least HOPE this is a reason xD).......
    The prices went up well before this weather kicked in - my renewal was significantly more than the year before, and that was in September.
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      I've heard the premiums have gone up 37% for some areas, so count yourself lucky :p:

      I got a good deal on my renewal this year - last year was £1600 for TPF&T, this year was £800 for fully comp with a couple of extras.
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      Insurance companies lost loads of money last year, so they're trying to recoup those losses. I paid the same for 10 months this year as I did 12 last.
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      Insurers ran at too high an underwriting loss for the past few years, and the unpredictable stock market didn't help their margins. A price rise was inevitable given the circumstances. All those people who claimed "insurance is a rip off" will hopefully have a rethink now, as they begin to realise that insurance has been underpriced for the last few years...
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      Mine went down.... and my voluntary excess is lower this year as i know i cant afford more than £150 if i did claim.
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      (Original post by Sync)
      Insurers ran at too high an underwriting loss for the past few years, and the unpredictable stock market didn't help their margins. A price rise was inevitable given the circumstances. All those people who claimed "insurance is a rip off" will hopefully have a rethink now, as they begin to realise that insurance has been underpriced for the last few years...
      This, but don't forget the rise of the ambulance chasing, scummy personal injury lawyers and fake claims have put the premiums up massively for everyone, but particularly young drivers who are statistically most involved with said scams and personal injury claims.

      Premiums can go up by nigh on 50%.
     
     
     
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