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Car Insurance Premiums Up 38% Last Year

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http://uk.finance.yahoo.com/news/2010-record-year-car-tele-3604677394.html?x=0

Kara Gammell, 17:08, Wednesday 12 January 2011
The cost of motor insurance premiums rose 38pc last year an increase of nearly £200.
The latest Confused.com/EMB Car Insurance Price Index found that the average premium paid across all age groups to £695. The percentage increase was more than triple that of 2009. Third party, fire and theft (TPFT) customers fared even worse, facing an annual increase of 56pc, the equivalent of an extra £322, meaning the last refuge for young drivers looking to cut costs seems to have been compromised.
Those aged between 51 and 55 were hit with the biggest rise
, while the 17 20 year old age group saw premiums rise the least in the second half of the year.

It's frenzy time muchachos as everyone jumps on the price hiking wagon. We should see massive hikes this year in everything from motor insurance to gas & electric bills. Poverty is coming but not by such covert stealth. They are going to price you into poverty.

How do they get away with it? Because they all hike together leaving you with no alternative other than to pay.

Edited by Realistbear

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It's frenzy time muchachos as everyone jumps on the price hiking wagon. We should see massive hikes this year in everything from motor insurance to gas & electric bills. Poverty is coming but not by such covert stealth. They are going to price you into poverty.

How do they get away with it? Because they all hike together leaving you with no alternative other than to pay.

Lower living standards are rolling into town fast. The only question left is how we get them? Via deflation (less money) or via inflation (plenty of worthless money), the outcome is the same irrespective.

Edited by MrFlibble

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There are only two compulsory insurances....car insurance and employers liability.

So if you want to drive a car you have no other choice but to pay up....also there is not much difference now between 3rd party and fully comp.......many are still driving illegally without insurance,both foreign and uk registered cars, how long will they allow that continue?

Have you noticed the more no claims discount you build the more you have to pay....hey ho. ;)

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Soon most people won't be able to afford to have jobs.

I think a lot of the young are already there with the cost of living and running a car. May as well just stay at Mum & Dad's and watch mind numbing daytime TV :unsure:

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There are only two compulsory insurances....car insurance and employers liability.

Not true. Big Yellow told me yesterday that I'd have to buy insurence from them to store my stuff. No insurance = No storage :(

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Not true. Big Yellow told me yesterday that I'd have to buy insurence from them to store my stuff. No insurance = No storage :(

That is their own money making policy....take your business elsewhere. ;)

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Those aged between 51 and 55 were hit with the biggest rise,

They can only squeeze young drivers so much.

£2000 is not uncommon for a new driver for a small hatchback with 1.4L engine.

They ask at the boardroom now - who has money?

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I looked for insurance a few weeks back Third Party only was the most expensive then TPFT and fully comp was the cheapest. Odd.

There are lawyers behind this! :huh:

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Those aged between 51 and 55 were hit with the biggest rise,

They can only squeeze young drivers so much.

£2000 is not uncommon for a new driver for a small hatchback with 1.4L engine.

They ask at the boardroom now - who has money?

Try it in the poorer areas, that would be £4k.

The cost of public transport is also high.

We need high density jobs in the areas of high density housing.

People cannot afford to travel to work.

Or bus - benefit. Job travelling allowance if you like.

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Where there is blame, there is a claim......works wonders for premiums. ;)

Now that's what I was getting at! Third party used to be the budget option for people who really didn't want to make a claim!

Now, these people, goaded on by "no win no fee" adverts will be the first! :o

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Now that's what I was getting at! Third party used to be the budget option for people who really didn't want to make a claim!

Now, these people, goaded on by "no win no fee" adverts will be the first! :o

...all this how much can I claim, entitlement has gone too far imo....it is ruining society, kids can't even play conkers or ride on a sledge, more like where there is a claim somebody will gain..... :ph34r:

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http://www.aviva.com/library/reports/2009ar/downloads/directors_remuneration_report.pdf

Just look at page 17 onwards of the Aviva remuneration report. How many cars did they have to insure just to pay the Chief Executive?

Andrew Moss, Group Chief Executive

Basic Salary £925,000 during the year

Mr Moss requested not to receive an increase to his basic salary in 2009.

Mr Moss requested that his basic salary should not be subject to annual review in 2010.

ABP £1,029,294 (111.3% of basic salary)

Bonus is a function of the degree of achievement of 2009 targets as follows:

(£343,098 delivered in cash and £686,196 deferred into shares for three years)

Financial 38.9% (maximum 50%)

Employee 5.0 % (maximum 10%)

Customer 6.9 % (maximum 10%)

Personal 23.3 % (maximum 30%)

OATTV Plan £501,443

The face value of 100% of the two-thirds deferred element of 2008

annual bonus.

LTIP – Face Value of grant £1,618,750

The face value of the grant represented 175% of basic salary on

28 February 2009.

ACAP £462,500

The Trustee of the Plan accepted Aviva’s recommendation and made an

award into the plan equivalent to 50% of Mr Moss’ basic salary as at

1 April.

Other Benefits £19,000 cash car allowance

2% basic salary cash

Mr Moss receives 2% of basic salary as a non-pensionable cash

supplement provided in consideration of his surrendering his Unapproved

Unfunded Retirement Benefit (UURB) promise at the point when accrual in

PMI the ASPS ceased.

Direct Line is owned by bonus kings with a licence to take public money RBS, so I don't want to look at their annual report!!

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Try it in the poorer areas, that would be £4k.

The cost of public transport is also high.

We need high density jobs in the areas of high density housing.

People cannot afford to travel to work.

Or bus - benefit. Job travelling allowance if you like.

If you can't afford to run a car, you definitely can't afford to use buses instead!

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Those aged between 51 and 55 were hit with the biggest rise, while the 17 20 year old age group saw premiums rise the least in the second half of the year.

People 51-55 and the ones with the most money, therefor the ones that can be gouged easiest.

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I looked for insurance a few weeks back Third Party only was the most expensive then TPFT and fully comp was the cheapest. Odd.

It is a Cartel.

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http://uk.finance.yahoo.com/news/2010-record-year-car-tele-3604677394.html?x=0

Kara Gammell, 17:08, Wednesday 12 January 2011
The cost of motor insurance premiums rose 38pc last year an increase of nearly £200.
The latest Confused.com/EMB Car Insurance Price Index found that the average premium paid across all age groups to £695. The percentage increase was more than triple that of 2009. Third party, fire and theft (TPFT) customers fared even worse, facing an annual increase of 56pc, the equivalent of an extra £322, meaning the last refuge for young drivers looking to cut costs seems to have been compromised.
Those aged between 51 and 55 were hit with the biggest rise
, while the 17 20 year old age group saw premiums rise the least in the second half of the year.

It's frenzy time muchachos as everyone jumps on the price hiking wagon. We should see massive hikes this year in everything from motor insurance to gas & electric bills. Poverty is coming but not by such covert stealth. They are going to price you into poverty.

How do they get away with it? Because they all hike together leaving you with no alternative other than to pay.

Too right RB, in our experience certificates are issued by either Fortis, Zurich or a.n. other that I cant recollect, irrespective of whom we contact to arrange motor insurance.

Rip off, all of it.

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It is a Cartel.

A bit like most other necessities! :blink:

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ken_ichikawa started a thread re. compulsory insurance unless SORN. This stinks of corruption and just goes to show how much in bed industry is in with our democracy makers.

Sorry: trying to play scrabble at the same time :)

Edited by tomposh101

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