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2.2 or 220% inflation?


Martin  McIntosh
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I have a Movano van which is primarily used to transport my large models. However, I took it off the road under SORN in March because I had to await cataract surgery, now complete and am able to fly normally so I renewed the MOT and enquired about insurance with Direct Line. In 2022-3 it was £224 then £291 in 2023-4. Just got their quote for now and it is £641 for the same cover would you believe, an increase of 220%!

Best quote on a compare site is £503 but they would not match it so bye bye. Usual excuses like `there have been lots of accidents in my area` or `well, it is a van not a car`.

I do not intend to continue with this rip off so it would seem that I shall have to sell some models plus the van.

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That's nothing. Our home insurance last year 250, quote this year 1500. (No claims and no changes to policy) Phoned them and they said could not would not explain why but could now do 850. I have gone elsewhere for 350. Good bye Onecall, home and 2 cars business lost. 

 

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I used to have two vehicles and house insurance with Direct Line but when they increased the whole lot by a silly amount I told them where exactly to shove it.

They seem to conjure up these figures from thin air with no explanation. Surely this amounts to blatant fraud?

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Carole Nash (for motorcycles), is the only insurance company I've ever renewed with instead of moving on, and I'm on for my, I think 5th, year with them. No changes to the policy, no changes to the bike, they've upped the compulsory excess by £100, put the price up by £20, and it's still £15 cheaper than any other cover elsewhere. 

 

I've been looking at possible new cars for after Christmas, and I did find out that Compare the Market is consistently £150 more expensive on every quote than Go Compare. 

 

Insurance companies are absolutely taking the proverbial and no one seems to have an answer as to why. 

Edited by payneib
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Insurance premiums are a sort-of legal scam

Whenever their renewal prices are questioned, the companies instantly offer impressively reduced  prices. . But they can never give a satisfactory answer as to why they didn't offer the lower price to begin with. 

 

It is a very shabby practice, and they hope people will simply renew without shopping around. 

 

To hell with them. 

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Errr, you do. Look at vets bills since insurance polices became popular, and when the system gets to treating humans, it’s devil takes the hindmost into the escape from the grim reaper, who is a fine advertising agent for health insurance. 

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