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55% increase in car insurance premium

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Opal Fri 25-Aug-23 14:46:05

My car -insurance renewal letter came today - with a 55% increase in my car insurance premium for this year! I've told my insurer exactly what I think on the phone earlier - complete rip off. I appreciate car repair costs have increased, but not to the tune of over 50%! I've been with my current insurer for a number of years, with no claims and a clean licence. I'm searching for better prices, but all of the insurers seem to be hiking their premiums way over the current inflation rate - pure profiteering on their part. Shame on them.

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Opal Sat 09-Sept-23 13:40:15

Update: I managed to reduce the initial proposed insurance premium by £50. When I first complained they offered a £25 reduction. However, I decided to go online and it was even cheaper with the same insurance company! So overall, I've still had to pay a 38% increase, which I still think is way over the odds, but it's better than their original quote.

Moral of the story - always do a price comparison and always obtain an online quote from your current insurer because it may be cheaper than their initial offer for renewing with them.

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