Inflation - car insurance

[dsc]

My 350z insurances have been (renewal is at the end of April)

2020 - £275.43
2021 - £265.01
2022 - £207.11
2023 - £264.89

Wow that is low, I'm almost double that for a 2013 320i, so what the hell am I doing wrong?

[vetran]

Wow that is low, I'm almost double that for a 2013 320i, so what the hell am I doing wrong?

you need to identify as a laydeez!

[SueEllen]

Wow that is low, I'm almost double that for a 2013 320i, so what the hell am I doing wrong?

Live in an area where people don't make claims?

I remember moving from a wealthy area of London where few people parked on the road, to an area where everyone parked on the road. My premium went down about £200 so the insurer had to give me some money back. Oddly they didn't want to insure me the year afterwards.....

[JustKeepSwimming]

you need to identify as a laydeez!

Sex based pricing was ruled unlawful discrimination thanks to they who shall not be named.

[SueEllen]

you need to identify as a laydeez!

That hasn't been true since 2012.

[Martin@AS Financial]

I heard an interesting theory today that the car insurance companies paid out very little during covid / lockdown and now these increases are just to protect the profits that they they have grown used to making.

[northernladuk]

Live in an area where people don't make claims?

I remember moving from a wealthy area of London where few people parked on the road, to an area where everyone parked on the road. My premium went down about £200 so the insurer had to give me some money back. Oddly they didn't want to insure me the year afterwards.....

For sure. It's interesting to look at the postcode weightings. It's rarely as you assume it to be. I'm in a little remote village, nice area, house prices too high and lots of nice cars. We appear to have low crime so insurances should be cheaper. Hell no. We are out in the moors away from the main city Postcode but checking the table below we have a higher risk band than the city center and it's scummy suburbs which next to no one here realized. In fact our sleepy little town is the highest risk band on the list . On a par with Salford who had some record about a car being stolen every 15 minutes or something stupid at one point.
I'm guessing it's because the one theft a week is an 80k ranger rover rather than the ten 5k cars stolen in the main town/city.

https://www.theclayclothcompany.co.u...ance-postcodes

[ladymuck]

For sure. It's interesting to look at the postcode weightings. It's rarely as you assume it to be. I'm in a little remote village, nice area, house prices too high and lots of nice cars. We appear to have low crime so insurances should be cheaper. Hell no. We are out in the moors away from the main city Postcode but checking the table below we have a higher risk band than the city center and it's scummy suburbs which next to no one here realized. In fact our sleepy little town is the highest risk band on the list . On a par with Salford who had some record about a car being stolen every 15 minutes or something stupid at one point.
I'm guessing it's because the one theft a week is an 80k ranger rover rather than the ten 5k cars stolen in the main town/city.

https://www.theclayclothcompany.co.u...ance-postcodes

Interesting - my postcode is band F. Maybe it's my 14 years no claims bonus keeping my premiums low

[JustKeepSwimming]

I heard an interesting theory today that the car insurance companies paid out very little during covid / lockdown and now these increases are just to protect the profits that they they have grown used to making.

Those theories rarely make sense. It's very easy for one competitor to not do that and sweep the market. This is especially the case if your customer is being hit with a 40% increase they are almost certainly going to shop around.

The CMA mumbling is when I would take any theory like that as a possibility.

[dsc]

Interesting - my postcode is band F. Maybe it's my 14 years no claims bonus keeping my premiums low

Mine is A and I have 12yrs of no claims, so it must be something else