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SHERWICK

Car Insurance Premiums Crash

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Mine have crashed 100%

(Got rid of the car. Don't need one right now :P )

But yes, I got some junk mail renewal offers that were 40% lower than anything I've been quoted in the last 5-6years. Too little too late though, the cars already gone to the scrappies!

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Hope so, if this years is another £1000 for a tradesman policy on a 1.9 non turbo diesel Berlingo I'll be jacking it in and going travelling (Although that is pretty much a given now anyway)

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Apparently, they've gone down a lot, particularly for men but not for women it seems... :D

I can confirm that mine decreased a huge amount!

http://www.confused.com/car-insurance/articles/towers-watson-car-insurance-price-index-costs-fall-by-a-quarter

Same here....I was so pleasantly surprised by the renewal quote that I couldn't even be bothered to do a price-comparison check. My premium was down 57% compared to two years ago. Both with >10 NCB, but not yet forty and doing >20.000 miles so was >£800 two years ago.

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I wonder if it's a underlying cost decrease, competition or simply that putting it too high means people jack in having a car altogether?

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I think vehicle theft is well down, compared to 15 years ago.

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I had a prang for the first time in years last year (my fault as well) and I was expecting my premium to go up having lost my full no claims bonus.

Rather strangely it went down, yes whilst I did have a protected no claims and only lost a years worth of that, the premium was £50 less than the year before.

I do use a good broker and I think the trick may be to change policy provider each year to get the savings.

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I wonder if it's a underlying cost decrease, competition or simply that putting it too high means people jack in having a car altogether?

Well, this below was a factor in the large increases the last few years, so maybe some improvement there. There have been a few large fake accident rings busted.

http://www.moneywise.co.uk/insurance/car-insurance/why-are-your-car-insurance-premiums-rising

Personal injury

"By far the biggest factor in the rise in insurance premiums over the past 10 years is the cost of personal injury claims," says Simon Douglas, insurance director at the AA.

A decade ago, the largest part of the payouts was for car repairs but now around 50% of car insurance claims are for personal injuries.

Related articles

The number of people claiming to have been hurt or to have suffered whiplash in car accidents rose by 18% from 2010 to 2011 - the biggest rise ever recorded, according to the annual report from the Institute and Faculty of Actuaries. It also found payouts were up by 9%.

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I had a prang for the first time in years last year (my fault as well) and I was expecting my premium to go up having lost my full no claims bonus.

Rather strangely it went down, yes whilst I did have a protected no claims and only lost a years worth of that, the premium was £50 less than the year before.

I do use a good broker and I think the trick may be to change policy provider each year to get the savings.

Which broker may I ask?

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Try a quote for a similarly-aged Micra(same car).

My wife has a late 90s Micra worth very little. Held a licence for a while but hadn't driven much/owned a car.

Her first year insurance was £750ish

Second year £500ish

Third year due now around £320ish

I would suggest that Sarah try a couple of year 2 and year 3 quotes with added NCB to see where the trend lies. Lack of NCB or choice of car.

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My wife has a late 90s Micra worth very little. Held a licence for a while but hadn't driven much/owned a car.

Her first year insurance was £750ish

Second year £500ish

Third year due now around £320ish

I would suggest that Sarah try a couple of year 2 and year 3 quotes with added NCB to see where the trend lies. Lack of NCB or choice of car.

I guess a grey import and parts costs for a model with only 20,000 examples produced 20 years ago maybe make it inevitable that prices will be higher than other models.

A limited mileage policy on classic insurance might be an option, if commuting is not required use.

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I wonder if it's a underlying cost decrease, competition or simply that putting it too high means people jack in having a car altogether?

New legislation which effectively cuts "claims management companies" out of personal injury claims, is the likely cause.

In 2004,the government introduced the concept of referral fees; a company could find prospective claimants and then sell their details to a solicitor for a fat profit. This made ambulance chasing a low risk, zero capital, high profit business. This alone was responsible for a dramatic rise in personal injury claims.

In April, the legislation permitting referrals was reversed. Effectively, it means that if you want to make a claim you now need to find and discuss with a solicitor directly.

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I guess a grey import and parts costs for a model with only 20,000 examples produced 20 years ago maybe make it inevitable that prices will be higher than other models.

A limited mileage policy on classic insurance might be an option, if commuting is not required use.

And, of course, she's in Oldham

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I guess a grey import and parts costs for a model with only 20,000 examples produced 20 years ago maybe make it inevitable that prices will be higher than other models.

A limited mileage policy on classic insurance might be an option, if commuting is not required use.

We did a quote for an astra that a friend has just bought, bit lower in value, and it was about 75 quid less - so not very different really.

I did think about a classic card - a friend said fiesta - but I've not done any more looking.

I'm not going to drive huge mileage whatever I get.

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The quote I got at renewal time (August) was about the same as the previous year IIRC. Spent £100 less in the end but that was by changing to someone else.

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It tends to go down as you get older and then starts rising again once over a certain older age.....what job you do makes a difference, where you park it also does, I heard that keeping it in a garage at night cost more than on the drive at night for some weird reason, on a public road costs the most.....also cutting out the legal cover and add-ons can save money. ;)

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New legislation which effectively cuts "claims management companies" out of personal injury claims, is the likely cause.

In 2004,the government introduced the concept of referral fees; a company could find prospective claimants and then sell their details to a solicitor for a fat profit. This made ambulance chasing a low risk, zero capital, high profit business. This alone was responsible for a dramatic rise in personal injury claims.

In April, the legislation permitting referrals was reversed. Effectively, it means that if you want to make a claim you now need to find and discuss with a solicitor directly.

Thanks for that. That sounds factual! Very unusual for "off topic"! :blink:

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We did a quote for an astra that a friend has just bought, bit lower in value, and it was about 75 quid less - so not very different really.

I did think about a classic card - a friend said fiesta - but I've not done any more looking.

I'm not going to drive huge mileage whatever I get.

I don't think they are very classic, Sarah, but you could get a well looked after Golf convertible, or an Audi Quattro from the 80s. Trouble is, now it's you that have to look after them! :blink: Are you good with spanners, Sarah? :blink:

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I don't think they are very classic, Sarah, but you could get a well looked after Golf convertible, or an Audi Quattro from the 80s. Trouble is, now it's you that have to look after them! :blink: Are you good with spanners, Sarah? :blink:

I deal with a lot of them on the allotment. Oh not that sort.

Erm, I'm probably not very good with one so I suspect it'd just add to the list of stuff poor him indoors has to do. :)

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I deal with a lot of them on the allotment. Oh not that sort.

Erm, I'm probably not very good with one so I suspect it'd just add to the list of stuff poor him indoors has to do. :)

That's partially what men are for Sarah! ;)

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Dunno what happened to the post I tried to make last night, but it's not there. Anyway, there's certainly something going on- last year, cheapest quote I could get for my 3l V6 Mondeo was £434- which I tolerated because it's a 150mph car (and a lovely drive, except around town :rolleyes: ). This year the renewal came through- £167?! I jumped on it, obviously. If I can get my MX-5 on its classic, 2nd car policy under £200 next year (as I used to with my old 106 Rallye) I'll be laughing.

Did a first quote for insurance for 3ks worth of figaro and it's about 800 quid. Never had insurance on my own though.

I know Figaros are Super-Kawaii and all, but you could get a much better car for less...

http://dsa.ebay.co.uk/sch/Cars-/9801/i.html?_from=R40&_nkw=daihatsu+copen&_sop=15

http://dsa.ebay.co.uk/sch/Mazda-/18211/i.html?_sop=15&_from=R40&_nkw=Mazda+MX-5

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