Car insurance renewal

It used to be that 3rd party was the cheapest but now there are more claims on 3rd party policies than fully comprehensive so 3rd party can be more expensive than fully comprehensive.
I keep my fully comprehensive insurance down by having very low mileage but realise that's not a sensible option for everyone.

I’ve just done both of ours fully comp, saved about £70 across the two.

Try phoning the company and telling them you can't afford it so will not be renewing with them. When I did that, admittedly a few years ago, they had a re-think and came back with a price fractionally less than the previous year.

If they don't do that, then find somewhere else!

Put your details into a comparison site, but study the small print carefully. Price is not everything and the cheapest premium may have a higher excess, or may not include certain items which are extra with some companies.

Age may be a factor but timing is also a factor.

Read this from moneysavingexpert:

www.moneysavingexpert.com/tips/2024/08/13/

26 days before renewal date is the sweet spot but any time between 20 and 27 should do.

Leave it till the last two weeks and prices really skyrocket possibly even doubling.

I've been looking at quotes this week.

I don't just do price comparison but even looked up the individual sites as well. The difference in some quotes is staggering.

I think I am staying with the one I've been with for two years because their quote is much the same as some others.

For the first time ever I will be paying in instalments as the annual payout is too much.

It's ridiculous what they charge now.

Insuring 2 cars with the same company will probably save money, get the best quote for the higher value car then ask about the second car. You will probably get the best price around 4 weeks before renewal

Remember third party fire and theft does not cover any accident damage to your car, so if it’s fairly high value you need comprehensive

I read that from Martin Lewis Maerion, ours were sorted on Monday, our insurances are due on 14th September, 26 days.

I insured my Hyundai Getz (1.1 engine, petrol and manual) in February this year for around £400. I've owned the car for 6 years and the cost at each renewal has always been around this mark. Sadly the Getz died in July and I bought a Hyundai i.10 which is the same size as the Getz and almost identical in every respect other than it is 2 years younger.

I phoned my insurance brokers to insure the i.10 expecting a quote of £400 as usual but instead the cheapest they could offer was nearly £900. I've had no accidents, claims, changes in circumstances or anything and I'm only six months older than I was in February!

I queried it naturally as the cars are virtually identical but the broker could offer no reasonable explanation other than premiums have increased. I find it hard to believe they've more than doubled since February.

My quote had nearly doubled this year so I looked at comparison sites. I ended up going with Allianz as their quote was two or three hundred pounds cheaper than anyone else’s. It’s still about £100 more than last year but in the circumstances, it seems ok. I think I renewed it exactly 21 days before the old policy ran out.

Last year I picked the cheapest firm I could find, which was one I had never even heard of. When the renewal came through this year it was £270 higher. I looked on a comparison site, found that the cheapest insurance I'd actually heard of was Tesco. Even better - when I started filling in my details they recognised me as a Clubcard member, and that was some more money off. I'm now paying slightly less than a was last year for a slightly better deal.

Many thanks for the responses. I have looked at a price comparison site and found a quote from a company I have heard of and trust at £175 less than the £715 we have been quoted. My DIL suggests we add our two sons as additional drivers which is a good idea as we are both 81 now and increasingly dislike driving except for local routes we are familiar with, this may bring the price down further.

Unfortunately, there seems to be no 'discount for loyalty' now in regard to motor insurance. We had both stayed with the same company for some years but once premiums started creeping up we decided to shop around.

We needed two cars as we both worked full time in different places and being named drivers on each others policies did bring the cost down.

Now retired, we only need the one car. We are both insured to drive it and have added two AC's as named drivers which gave us a further discount too.

We shop around every year too.

One thing I've learned is to renew it sooner- I always seem to leave it to the last minute and it seems this is costing me.

I also tried tesco- which in the end wasn't cheaper than my present insurers. the young man on the phone was also extrememly rude and cut me off!

Direct Line reduced my car insurance by almost £100 mainly because I drive locally and only short distances. I have been penalised by other companies for similar.

I paid recently and that will be my last because I am giving up my car. I would prefer to make the decision than have it made for me. I will be 81 next month.

I am 83 years of age and trawled the price comparison sites, had really price.

flappergirl

I insured my Hyundai Getz (1.1 engine, petrol and manual) in February this year for around £400. I've owned the car for 6 years and the cost at each renewal has always been around this mark. Sadly the Getz died in July and I bought a Hyundai i.10 which is the same size as the Getz and almost identical in every respect other than it is 2 years younger.

I phoned my insurance brokers to insure the i.10 expecting a quote of £400 as usual but instead the cheapest they could offer was nearly £900. I've had no accidents, claims, changes in circumstances or anything and I'm only six months older than I was in February!

I queried it naturally as the cars are virtually identical but the broker could offer no reasonable explanation other than premiums have increased. I find it hard to believe they've more than doubled since February.

we have found in the past this is because your company has had a run of claims on Hyundai i.10's in the last year and don't want to insure anymore of them, so price you out of the park so you will go to another company.

I run an 8 year old petrol-engined Mazda 2. I have full no-claims. My recent renewal was £351.58 with Roadside Recovery and a named driver, with LV. I will keep it going as long as I can, but it's entirely possible that my insurance will go up if I have to replace it. For many reasons, I will be getting another lean-burn petrol car. Modern cars are very expensive to repair, and EVs and hybrids are eye-watering to repair because even quite minor knocks can damage the integrity of the battery, and make them a fire risk. Lithium battery fires are horrific, so the garages have to store cars with possibly damaged batteries away from all their other cars in case the whole lot go up. Furthermore, independent garages are wary of them, and have limited access to parts, so the insurance companies normally specify dealerships. All of this is expensive. My neighbour sold her 17 year old Honda Jazz for a 2 year old hybrid Jazz. Her insurance leapt up from £300 - £1,300 after shopping around. It might be obvious to say so, but insurance companies are businesses, they have to predict risk, and you can see what the financial risk is by looking at comparative premiums. Some make policy decisions to get out of particular vehicles. They may refuse to insure, or else make the premium prohibitive. Caveat emptor!

Heard on Radio 4 last week that we, OAPs, have far less accidents than young drivers, but youngsters insurances are a lot less than ours ????

No, young people or new drivers pay very high premiums.

Just on the point of paying less if you pay a month earlier. I am a bit puzzled that when my e-mail came with my insurance reminder a few weeks ago it stated it would be renewed automatically on the date, therefore paying earlier would not have made any difference?

We are with Direct Line and have been for about 4 or 5 years. We are 69 and 66. Not sure whether it would make it cheaper if we put one or two of our sons on the policy?

I raised the excess a few hundred pounds & it brought the price down considerably.Fingers crossed I don’t need to claim!

The hike in insurance, which we all end up paying for is due to many factors:

delays in getting parts, knock on cost of courtesy cars

High incidence of stolen Range Rovers

Cost of repairing/writing off electric cars involved in any kind of front end shunt which damages the battery

This is all from a friend working in car insurance

Your more of a risk on their risk scale.