Is this normal these days? Why?
Please don’t mention ‘climate change’.
Is this normal these days? Why?
Please don’t mention ‘climate change’.
Motor insurance is similar. Mine went up by 30% recently. When I queried it, I was told that my increase was on the low end of the scale!
Are you talking about the 3.2% and reducing galloping inflation reported today?
It's been normal from what my various insurers (car, house and business liability) have all tried-on this year, turns out they all lost my business and I've ended-up with only a marginal increase for the car policy and actual reductions in the other two.
My car insurance went up by 42% early this year and the comparison sites showed I could better the renewal quote by less than £10. Most companies were quoting a higher premium, and some by a large amount.
My building and contents insurance renewal is due in about 2 months time :(
One thing to watch out for with a renewal quote is the company increasing the excess amounts which can be the hidden price rise if you have to make a claim. Also if you have optional legal protection on a car policy you probably don't need to have optional legal cover on your house insurance (or visa versa) because the cover is for any claim. Read the T&C carefully to see what is covered.
I know this year there have been various "hot" factors for car insurance (e.g. EVs and Land Rovers).
I'd been with LVE for 6 years with only slight increase in that time, this year they tried to jump it from £420 to £685, so I found a replacement for £470.
That car is an Audi A5, and I have been trying hard *not* to think about replacing it, but the thought does keep entering my head of a Q5 PHEV, I got as far as getting a quote from existing insurer for one over the weekend ... That'll be an extra £1000 premium for the remaining 10 months of the policy, plus a fee for changing it ... same story from specialist insurers and comparison sites ...
All similar plugin hybrid mid-size SUVs seem the same story, so I think I'm suitably put-off changing for now.
Did you use a broker or online comparison sites to find your new insurers?
comparison site for car and house, I chose hiscox directly for liability insurance.
Oddly when I was thinking about changing car, adrian flux seemed to try hard behind the scenes but didn't get within £700 of comparison sites.
There has not been any galloping inflation
And hardly anyone has seen a 48% increase.
As I said, a PERIOD of galloping inflation (didn't it hit around 11%?). Don't make the mistake of confusing a reduction in prices with a reduction in the rate of inflation. I guess it's pretty unlikely that many of the last four years' price rises will ever be reversed.
That's not GALLOPING.
My home insurance renewal was up to nearly double the previous price. I found a better deal with a comparison site. Strangely my car insurance renewal was up by £60 to £340, I checked the comparison sites and none could find a quote better than £620!
My current insurer was found by the Meerkats in 2023 and is no longer featuring on the Meerkats comparisons. As they had the best price I renewed with them.
In message snipped-for-privacy@mid.individual.net>, Spike snipped-for-privacy@mail.com writes
My motor insurance price went up by about that amount. I complained after shopping around and got a substantial reduction . I expect the same runaround when I renew my home insurance. They're maybe boiling the frogs too quickly this year.
Brian
It's all those pint bottles of wine and gammon that has pushed up your price.
So we’re now in a PERIOD of galloping inflation reduction?
That is how it is being reported.
I can remember when beer was 2/- a pint. I don’t expect we’ll see subsequent price rises reversed.
Do you have a point in being so silly?
I don't play those games, find cheapest replacement then cancel renewal.
I think they are, and hope they get the message by next year.
But they will have had two to three years of 50% inflation in premiums by then, and there’s little chance of them falling back as there’s too much money to be made. Rather like the Renewables industry’s prices.
In message snipped-for-privacy@pvr2.lan, Rod Speed snipped-for-privacy@gmail.com writes
OK - but would you accept "One giant leap for UK-kind"?
We both can remember was £2 a pint. But tell that to the young folks of today (etc, etc ,,,,,,,,).
Nope, nothing even remotely like a giant leap
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