I've just had my insurance rip off renewal come through :o. i opened it expecting it to be about the same as last year. I know prices have gone up(i was repeatedly quoted 40% increase by the brokers) but i also have another years no claims. I nearly fell over when i saw the price, £429 TPFT with£500 XS compared to £230 last year with the same XS. I spent all day on the phone trying to get a better deal but found that they all quoted around the same or more as my current insurer, lots of insurers wouldnt even quote TPFT as the bike is worth more than £7K. one company quoted £987. After a long boring day of answering the same questions again and again i ended up with fully comp to get the best price (how does that work) £412 with £500 XS. If your insurance is due make sure your sitting down when you call for a quote you may get a bit of a shock.
Funnily enough the wife and I have just been discussing insurance quotes this afternoon as one of our local councillors is trying to get local residents to contribute towards his survey on insurance at the moment. If you are interested have a look at the below. We've all suffered with our renewal premiums this year and I can see it continueing and spiralling upwards for the forseeable future.
The cost of car insurance (http://www.confused.com/) has risen for every driver in the UK over the last two years, but for motorists in Bradford the situation is so drastic the local MP has stepped in to tackle the problem.
Across the UK drivers have suffered a rise of 40.1 per cent in the last year, taking an average comprehensive annual premium to £892.
That's bad enough. But in Bradford the situation is drastically worse.
According to the Confused.com/Towers Watson car insurance price index, Bradford has had the highest rate of increase in comprehensive premiums since 1997, with the cost currently increasing at a rate of 13 per cent every three months.
Between 2009 and 2011 alone, car insurance costs, on average, in Bradford have risen by 62.6 per cent with the average premium this year standing at £897.19.
Although this sits within the UK average, the rises are far more significant. Just two years ago the average cost of car cover in Bradford was £551.62.
'It can't go on like this'MP David Ward (http://davidward.org.uk/en/) has now stepped in to find a solution to the car insurance problem after he saw how much of an effect it was having on residents, with many unable to insure their vehicles because of the soaring costs.
Ward has produced a report called 'It can't go on like this' (http://davidward.org.uk/en/document/interim-car-insurance-report) which looks at the factors contributing to car insurance price rises across the UK and asks why Bradford has been so heavily affected.
According to the report, as far as residents in Bradford are concerned, car insurance prices are rocketing because of the following:
· Uninsured drivers
· Fraudulent claims
· No win no fee companies
· Greedy insurance companies
· Lack of police action
· Referral fees
· InflationUninsured driversAt the beginning of 2011, the government's Transport Select Committee met to discuss rising car insurance premiums in the UK (http://blogs.confused.com/money_talks/2011/01/why-your-car-insurance-is-costing-you-more.html) and concluded that one of the biggest contributory factors to rising prices was 'the menace of uninsured drivers'.
Residents questioned as part of Ward's report agreed that this was a huge problem, saying that for some people in Bradford it was "cheaper to not bother" [getting insurance] due to low fines if caught. 'Cash for crash'Organised car insurance fraud was also one of the top reasons for car insurance rises, according to the report.
One resident said fraudulent claims were operating on a 'large scale' in Bradford, a view supported by the Association of British Insurers (ABI).
Another resident said: "I was speaking to a taxi driver about the high cost of car insurance when he said 'let me arrange for my friend to crash into you or the other way around, and we will pay you £2000, plus £500 per passenger in the car'.
"He proceeded to break down the costs and payments like it was a business he was running. I asked 'have you done this before?' to which he replied 'yes its big business in Bradford'."The view from Bradford residents One driver said the situation in Bradford was so bad that her boyfriend can no longer live with her because he can't afford to get his car insured at her address.
"I am seriously considering renting my house out and moving to a cheaper postcode, which would be a shame as I moved to Bradford in the first place because it was cheaper and because I like the city," she said.
Another story, which hit national headlines, saw a college student quoted £53,000 to insure a Vauxhall Corsa.What can be done?Ward said: "Responses to our survey clearly show that these huge increases are having an unacceptable impact on Bradford residents and businesses and that urgent action must be taken to bring costs down."
Specifically, he wants to see lower costs associated with no win no fee cases; a self-funded specialist police unit to target uninsured drivers; stiffer penalties for uninsured drivers and changes made to the evidence requirements for making a whiplash claim.
Ward told Confused.com that the Liberal Democrat team in Bradford East is determined to bring about a reduction in premiums in the area and that this report is just the first stage.
He added: "The team are now gathering information and developing a fuller understanding of what is clearly a complex issue."
Just got mine through - due in October
Last Year = £148.00 £250.00 excess + set up fee = Total £200.00
This year = £178.00 £250.00 excess + set up fee = Total £225.00
May still shop around first though.
What's this set up fee?
It's their fee and the legal cover (worth it !)
Arrangement fee is £31.00 legal is £16.00 (give or take a few pence)
Our eCar policy - two cars, two drivers, one accident, no claims - went up from £600-and-something to £900-and-something this year. Only I was earning no clams discount (despite what they told us when we took the policy out). We didn't renew and got two separate policies with other insurers for £700-and-something which wasn't bad at all as Lyn had no no claims discount of her own.
Kevin
I have just done mine on line as it is due for renewal in about 3 weeks time. I went on a comparison site and managed to get Fully Comp for £135 with a £250 excess via Swinton.
Having said that I am retired with a good no claims and only want Social Domestic etc. This was with Swintons.
rippers, thats a bloody good price.
HI L.W.
Yes. But I am now retired and it is only Social Domestic Pleasure. But covers pillion also protected no claims and European Cover. I spent about 1 hour on comparison sites and came up with it, and it was via Swintons. My renewal was with Bennetts and that was quite competitive but I shaved off some money.
Each year on my bike and car I search around, and often change insurance and get a cheaper deal.
Swinton came up cheapest for me too .. £178 fully comp.
Not quite on the bike theme but my son is off to Uni in 2 weeks ... :'( ... So 19yr old, clean licence, Ford Fiesta 1.4 TDCi, was an extra £888 for a year on my policy .... this year it's down to £803 ... that's good, but with his agreement I took him off for his time at Uni with a view to stick him back on now and again for Xmas, easter, and summer hols etc ....... easy and cheaper I thought ... " Bollox " he still needs it over the next 2 weeks till he actually goes, so ring them back up and it was far from " just stick him back on " ..they wanted all his details again as though they had never heard of him and then wanted £135 for 19 days cover ... told them to shove it, but needs were more important so called them back after a few days and took 2 weeks for £90 .... SO ..£45 a week, or if I were to go down the route of what I had originally planned ( ie, hols, Xmas ) etc that would be 2 weeks at Xmas 2 weeks at Easter and 17 weeks at Summer ... 21 weeks x £45 = £945 !! for what is in effect half a year !!!! or put him back on the policy full time for twice the amount of time and just leave him there for about £150 less .... MADNESS !!!
I shall review it at Xmas but it has to be cheaper to have him on for the entire year and then there's no arsing about if he occasionally pops home etc ..... thank goodness he has no interest in Bikes ;D ;D
I guess a 1.4 TDCI for a 19yr old is quite sporty. Either way I agree with what you are saying, they have the upper hand and always will have. The law abiding drivers suffer the conseqences whilst those who couldn't give a toss about minor details and petty things such as insurance just wont bother and will be quids in sat at home on their benefits watching SKY TV etc.