Premium hike

[Niall.b]

Premium renewal just in, gone from £305 last year to £505. With LV, Business use and all mods declared. Hate to see what it would be with a claim.

 

[Chippie1]

Just changed from LV like you mine went up over £200 for no apparent reason other than premiums rising

 

[Niall.b]

I will give them a ring but dont expect any movement and by the posts on the forum, there doesn't seem to be much point in shopping around either

 

[Chippie1]

When I rang them they were more than happy to cancel my policy with no attempt at trying to keep me as a customer

 

[dubber36]

I read somewhere that there has been an average hike of around 50% on premiums. All of our vehicles have gone up this year compared to last. Not by that much, but gone up all the same.

 

[Niall.b]

50-60 quid i can deal with but £200 is hard to justify but i probably dont have any choice. Going forward, these premiums are never going to go return to where they were.

 

[Lubrown]

I read somewhere that there has been an average hike of around 50% on premiums. All of our vehicles have gone up this year compared to last. Not by that much, but gone up all the same.

Here it is. 52.9%. Nearly spat my tofu out.

Full story is 29% for ICE powered vehicles and 72% (I think) for EVs with some drivers of those funding it hard to even get cover.

Of course, now we are shaming speed limits and thereby empowering the young lads in golf’s and a3s to treat estates as race tracks, insurance is going to be going up faster than ever. The government will be pleased with the insurance premium tax coming in though. So that’s nice.

 

[roadtripper]

A reminder that while insurers are no longer allowed to offer new customers better terms than existing that is per channel - so you can still find better deals by trying comparison sites and phoning.

Also with LV I found waiting and then renewing on the 20-26 day rule saved me £100. I did look around and they were still the most competitive for me, the cost of living has bubbled through the economy to the insurers it seems.

The 20-26 day rule seems to work

So I had never really paid much attention to the research done by Martin Lewis and team that the best time to buy motor insurance was about 20 - 26 days before it was needed. But this year my LV multicar went from £420 to £720 with no change of circumstances. I did shop around a week ago, as...

www.t6forum.com

 

[Niall.b]

just renewed with Adrian Flux for £380 which i don't think is too bad considering. all mods declared, have to send 7 photos of the van for a valuation.
Guy told me LV seem to be trying to move away from commercial insurance so giving unrealistic quotes so people will look elsewhere.

 

[lightning]

You lot are lucky you want to try insuring a Defender Commercial (new model)

premiums are up in some cases 400% for Land Rovers. One of my customers had to sell her Defender 90 last month because on renewal the premium increased from £700 to £3,000

 

[Bav]

I will give them a ring but dont expect any movement and by the posts on the forum, there doesn't seem to be much point in shopping around either

Even though it's a PITA, it's *always* worthwhile shopping around.

 

[Niall.b]

You lot are lucky you want to try insuring a Defender Commercial (new model)

premiums are up in some cases 400% for Land Rovers. One of my customers had to sell her Defender 90 last month because on renewal the premium increased from £700 to £3,000

heard about a Range Rover premium hike to over 4K so thats on the market. could be some cheap cars around in the near future.

 

[DXX]

You lot are lucky you want to try insuring a Defender Commercial (new model)

premiums are up in some cases 400% for Land Rovers. One of my customers had to sell her Defender 90 last month because on renewal the premium increased from £700 to £3,000

There are certain vehicles that should attract a higher premium, lets be honest a Defender has become easier to sell on as parts and anybody who can bend a paperclip can get into one.

 

[lightning]

l had one of those, for 8 years and 90,000 miles. But l am talking about the new model Defender
Here's mine.
lt's a D250 Commercial
lt's obviously no Transporter but big enough for my work.

 

[T6 dork]

lightning i wish i could stretch to one of those ( great looking vehicle the D250 Commercial )

all insurance has gone up and its the EV accidents and fires that are mostly to blame

youtube is full of it

 

[lightning]

l was only able to afford it because of the govt "Super Deduction" scheme where you could claim back 130% of the purchase price against tax.

That's effectively £14,000 off the price.

So long as l don't sell it !

 

[DXX]

lightning i wish i could stretch to one of those ( great looking vehicle the D250 Commercial )

all insurance has gone up and its the EV accidents and fires that are mostly to blame

youtube is full of it

Pretty soon insurance (home) will be cheaper if you don’t have an integral garage.
I have a Valence lithium battery pack for my canoe, it gets charged outside in the garden.

 

[Bav]

all insurance has gone up and its the EV accidents and fires that are mostly to blame

The main reasons are increased repair costs - parts and labour - for all vehicle types and the bonkers replacement costs of EVs.

 

[SAJO]

Just had my 'daily' renewal through, a 64% increase, will shop around, I know premiums have increased, im not expecting miracles but 64% is a bit steep to me.

 

[dubber36]

They will no doubt rise even higher next year to make up the shortfall from those that will inevitably choose not to pay.