Car insurance sees biggest price drop in six years

StonedPenguin · 21 Apr 2021 at 23:33

I find car insurance to make no real sense and generally a ripoff, my last 4 years (with lots of searching and calls):

E92 M3 (Manual) - £1760 (4yr ncb)
E92 M3 (DCT) - £1450 - (5yr ncb)
"" "" "" - £1570 - (6yr ncb)
F80 M4 (DCT) - £1650 - (7yr ncb)

When I see people paying £450 for a c63 it makes me think I'm being bended over :confused:

Havana_UK · 22 Apr 2021 at 08:27

StonedPenguin said:
I find car insurance to make no real sense and generally a ripoff, my last 4 years (with lots of searching and calls):

E92 M3 (Manual) - £1760 (4yr ncb)
E92 M3 (DCT) - £1450 - (5yr ncb)
"" "" "" - £1570 - (6yr ncb)
F80 M4 (DCT) - £1650 - (7yr ncb)

When I see people paying £450 for a c63 it makes me think I'm being bended over

I feel for you, but this makes me feel marginally better...I pay ~£900 for F80 M3 with max NCB, but it includes business cover and ~25k miles / year. (disclaimer, I'm "old"

)

Tenzo · 22 Apr 2021 at 08:33

I was surprised at the cost of the RS4, about £375. This was cheaper than my outgoing F31 330d.

In the process, took in multi car to add my wife’s car and they reduced her future renewal by £150.

All in all, quite happy

The_Arbiter · 22 Apr 2021 at 08:47

I gave Admiral a ring before i was due renewal. They said the letter was already in the post but gave me £6 reduction. I didn't even bother price checking, don't think mine can go lower really. Joys of driving a shed

Rotty · 23 Apr 2021 at 00:28

StonedPenguin said:
I find car insurance to make no real sense and generally a ripoff, my last 4 years (with lots of searching and calls):

E92 M3 (Manual) - £1760 (4yr ncb)
E92 M3 (DCT) - £1450 - (5yr ncb)
"" "" "" - £1570 - (6yr ncb)
F80 M4 (DCT) - £1650 - (7yr ncb)

When I see people paying £450 for a c63 it makes me think I'm being bended over

where in Nottm are you? I pay £362 for a Ferrari and I'm in Notts

Rroff · 23 Apr 2021 at 00:33

Tenzo said:
I was surprised at the cost of the RS4, about £375. This was cheaper than my outgoing F31 330d.

In the process, took in multi car to add my wife’s car and they reduced her future renewal by £150.

All in all, quite happy

Audi for some reason have always been expensive for me - albeit this was a few years back and it was heavily modified but I tried to get insurance on a friend's RS4 once and a lot of places wouldn't touch it and Adrian Flux wanted 4 grand. (IIRC it was £4446.88!).

On the flip side some stuff is really cheap for me there doesn't seem much rhyme or reason to it sometimes.

adam cool dude · 23 Apr 2021 at 06:57

Mine normally hovers around the £200 mark and has done for the past few years but was very surprised the last couple of months. Saab has been renewed for for £145 and Suzuki for £165. My Celica has stayed the same at 360ish but that's a specialist policy with an agreed figure and a full modification list.

34 years old with at least 6 years NCD on each policy.

StonedPenguin · 23 Apr 2021 at 09:02

Rotty said:
where in Nottm are you? I pay £362 for a Ferrari and I'm in Notts

Arnold/Mapperley...

£362 for a Ferrari! confirms my thoughts that I'm likely being ripped off.

Resident · 23 Apr 2021 at 10:27

And yet despite the OP, my insurer want to DOUBLE my insurance even though I'm going to a slightly older, less powerful model.

Thankfully other insurers have given me quotes that are less than I currently pay and within reason for the vehicle I'm looking at.

GravyMonster · 23 Apr 2021 at 11:17

Renewal prices rose about £30 for me. However I dropped annual mileage by almost 50% so I caught a decent saving that way instead.

dlockers · 23 Apr 2021 at 11:20

Resident said:
And yet despite the OP, my insurer want to DOUBLE my insurance even though I'm going to a slightly older, less powerful model.

Thankfully other insurers have given me quotes that are less than I currently pay and within reason for the vehicle I'm looking at.

I've found change of car in any direction doesn't correlate as you'd often expect.

shadow_boxer · 23 Apr 2021 at 13:16

StonedPenguin said:
Arnold/Mapperley...

£362 for a Ferrari! confirms my thoughts that I'm likely being ripped off.

I've just my C63 into moneysupermarket for my parents address in Mapperley, NG3, and it's coming up around £750ish. Those prices for M3's do look a bit steep though!

HoneyBadger · 23 Apr 2021 at 16:35

We just renewed on our car, most things being equally, the renewal shot up by £180 based on MrsHB now being married to me. (This is with Tesco)

So we paid £240 on the kia, fully comp last year. Renewal came through the post, at £283, not great but fair enough. MrsHB phoned to say we are now married, no other changes, over the phone they said its now £460ish. When we why asked, we were told "because we use real time data" - OK, but seemingly you're charging us £180 more than the renewal, generated a week ago, as we're now married?

Ended up cancelling the renewal, got better cover (In terms of adding on legal protection and a better voluntary excess) with LV for £260 something.

Resident · 23 Apr 2021 at 16:48

dLockers said:
I've found change of car in any direction doesn't correlate as you'd often expect.

Did an online comparision, found an insurer that quoted me 33% less than my current insurance & has a modified clause to allow me to change bits without penalty, to a point.

Nasher · 23 Apr 2021 at 21:55

StonedPenguin said:
Arnold/Mapperley...

£362 for a Ferrari! confirms my thoughts that I'm likely being ripped off.

If you want cheap premiums don't buy BMWs lol. They are the most claimed against cars by miles.

I pay less than £550 total for a Lotus and Abarth 500, on seperate policies

Tom_ed1987 · 23 Apr 2021 at 22:08

I did see quite a big drop this year compared with the previous. From £330, which it has been hovering around for a few years now, to £270'ish

Joseph Lee · 11 May 2021 at 17:37

Admiral bumped up my insurance by £40 on my MX5, previous years looking on comparison sites has always found cheaper than renewal quotes but this year I'm getting all the weird insurers I don't trust and at more expensive than the renewal quote!

As I've done handling mods (MeisterR coilovers, whiteline sway bars, aftermarket alloys which are larger in diameter and width) I figured I'd go for modified car insurance now I'm finally 21 as it's the min age often for modded car insurance.
Sky Insurance (recently changed their name they said) gave me a quote of around £660 from one of their insurers - said any additional mods like brakes, roll over protection etc wouldn't cost any extra as they're for safety. Greenlight said they can't give me a quote to match Sky's so they didn't even bother giving me a number in their email. Brentacre I tried last year with no mods and they tried charging me about a grand more than Admiral (which was £383) so no thanks. AdrianFlux have always denied me a quote and I've only heard bad things about, rather not waste my time.

Nasher · 11 May 2021 at 17:42

Adrian Flux were always way overpriced when I've tried them.

gamerTM21 · 12 May 2021 at 13:11

A couple of years ago I moved from Leamington to Birmingham and went up from paying £380 to £600, just for moving..

Now I've upgraded to an Audi, and they've increased my insurance by another £200. Essentially paying the same amount as when I first started driving 7 years ago!

Nasher · 12 May 2021 at 13:16

Birmingham is a high risk area.