LesterRam Posted July 21, 2015 Share Posted July 21, 2015 http://www.bbc.co.uk/news/business-33607268 Car insurance premiums have risen for the first time for nearly three years, with young drivers facing the biggest increases, a survey suggests. The AA's index of the cheapest deals on the market showed that the cost of annual comprehensive car insurance rose by 5.2% in the three months to the end of June. Drivers aged 23 to 29 have seen a 6.2% rise over the same period, the biggest increase of any age group. They typically paid a premium of £683. "Insurers have been releasing their reserves to maintain their competitive edge to the point where this is no longer sustainable - and we are seeing premiums beginning to rise once more," said Janet Connor, managing director of AA Insurance. "The days of cheap car insurance premiums are over - price rises are inevitable." A quote for a typical comprehensive motor insurance policy for all age groups has risen to £549. The AA estimates that the rise in insurance premium tax, announced by Chancellor George Osborne in the Budget, will add £18 to the cost of the average comprehensive car insurance policy. The insurer also reported a 1.3% rise in the index of cheapest home and contents insurance premiums, the first increase since 2012. The average premium for a contents policy has hit £61.18 with the typical buildings premium up to £108.15. I cant believe I just quoted the AA Link to comment Share on other sites More sharing options...
Stive Pesley Posted July 21, 2015 Share Posted July 21, 2015 Insurance - the biggest scam of our timesWhenever I have had to consider making an insurance claim it's almost always been more cost effective to not bother claiming Link to comment Share on other sites More sharing options...
Dale The Ram Posted July 21, 2015 Share Posted July 21, 2015 Been driving for a month now and dreading making a claim as it would ruin my chance of insurance. £1350 a year for a polo with a black box, ive seen much worse tbh. Being 17 nowadays means your insurance is at least £1200 and your Uni fees are at least £9000 a year when you can only earn £3 an hour weve got it easy tbf Link to comment Share on other sites More sharing options...
LesterRam Posted July 21, 2015 Author Share Posted July 21, 2015 yeah I have been riding a black box and yes she costs me about £1200 a week but she goes like a train.. Link to comment Share on other sites More sharing options...
GeneralRam Posted July 21, 2015 Share Posted July 21, 2015 I've just turned 27 and I paid £300 with 3 years no claims (no accidents either as I was a named driver for a while).You can get cheap insurance if you shop around. Usually takes me a couple of weeks to find the best deal. Link to comment Share on other sites More sharing options...
Mafiabob Posted July 21, 2015 Share Posted July 21, 2015 I've just turned 27 and I paid £300 with 3 years no claims (no accidents either as I was a named driver for a while).You can get cheap insurance if you shop around. Usually takes me a couple of weeks to find the best deal.I'm 35 and got 12 years no claims protected for under 300.... Crazy how much young uns have to pay... On everything.... From tuition fees... to driving... To even enjoying the odd night out. I was in town on Saturday night and what struck me is how old a crowd it is nowadays.... I wouldn't like to be 18 nowadays.... Link to comment Share on other sites More sharing options...
Mr. P Posted July 21, 2015 Share Posted July 21, 2015 My renewal went up £50 to £360 for a bloody Ford Focus. Shopped around & got it for £180......and now I feel epic! Link to comment Share on other sites More sharing options...
LesterRam Posted July 21, 2015 Author Share Posted July 21, 2015 the secret with insuring your car is take a look at the underwriter, each underwriter has a demographic and risk assessment that targets specific markets.some even make a loss on your first year premium because most people will renew, comparison sites generally charge a £40 fee to your insurer and some comparison sites only host sites belonging to them or partner sites, bit of a fiddle and don't understand why the FCA have not targeted these but hey ho.I like the welsh dragons (admiral) great morals and ethical. Link to comment Share on other sites More sharing options...
King Kevin Posted July 21, 2015 Share Posted July 21, 2015 I have 46 years NCB and so far the premiums have by and large come down or remained static.However the barstewards will now start to put it up because I am an old git. Link to comment Share on other sites More sharing options...
McRamFan Posted July 22, 2015 Share Posted July 22, 2015 Never renew, always change or threaten to change. My insurance has been around £275, business use, £0 excess £0 voluntary excess.With excess, always get a quote with and without, mine was £8.00 more to remove all excess. Link to comment Share on other sites More sharing options...
GeneralRam Posted July 22, 2015 Share Posted July 22, 2015 Never renew, always change or threaten to change. My insurance has been around £275, business use, £0 excess £0 voluntary excess.With excess, always get a quote with and without, mine was £8.00 more to remove all excess.Top advice ^Also look on websites such as Quidco and Topcashback - I got an extra £30 cash back from my insurance. Link to comment Share on other sites More sharing options...
rezner Posted August 2, 2015 Share Posted August 2, 2015 Just got mine for £40 less by changing insurers. £200 now Happy with that. It wont get much cheaper. Link to comment Share on other sites More sharing options...
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