Insurance renewal in 2023

[yessuz]

So I just got my renewal quote from the PSA (a.k.a. Peugeot) Insurance (!!!)
price is more or less same as last year - increased by ~40 gbp from 630 to 670. Which is actually quite ok (40 YO, midlands, 5 years NCD and 500 voluntary excess)
By adding wife, I managed to reduce insurance premium to 560, but then hiked up with by 70 with the NCD protection...

So, Peugeot still renews existing customers, but not sure if adds new.

what is your renewal quote?

 

[scdoubleu]

Not yet had the Direct Line renewal through, but been getting online quotes periodically over the last few weeks as the policy expires start of March.

Last year was £489. Best they're offering (so far) for this year is around £650. No change in circumstances.

I've had significantly cheaper quotes elsewhere, so Direct Line can go do one.

 

[Billbrown1982]

I'm doing mine tomorrow and I already hate you because I KNOW I won't get anywhere near that price. 40, 19 years NCB, clean history but I live in Basildon...
Think last year was just shy of a grand for me.

 

[yessuz]

I'm doing mine tomorrow and I already hate you because I KNOW I won't get anywhere near that price. 40, 19 years NCB, clean history but I live in Basildon...
Think last year was just shy of a grand for me.

All other insurances were at least 1k for me last year, but Peugeot alone was at decent price. I know that others could not get new quotes end of January 2022


Maybe worth check?

 

[Billbrown1982]

All other insurances were at least 1k for me last year, but Peugeot alone was at decent price. I know that others could not get new quotes end of January 2022


Maybe worth check?

Yeah I just double checked but as I thought, still not offering to us now. You lucky sod!

 

[yessuz]

Yeah I just double checked but as I thought, still not offering to us now. You lucky sod!

View attachment 902435

 

[Billbrown1982]

Welp. Just done the slog through all the comparison sites and so on and so forth and managed to get £571 with churchill.
VERY happy with that. Lowest price i've paid for a long time, even pre Tesla.

 

[Durzel]

Been with Novo for 3 years, last year was in excess of £1k (more than the year before). Expecting it to be even worse this year, to the extent that I emailed them yesterday even though my policy isn't due until end of March to sound them out about what the landscape is like for insuring Teslas, and they said much of the stuff I already feared was the case - premiums going up across the board, long parts delays with Teslas in particular, etc.

I'd go with a high street one but I have full PPF on my car which is treated like a wrap for insurance purposes, and only LV+ and Novo actually cover it as far as I know. I don't see the point of getting a piece of paper showing I'm insured but not being able to rely on it.

 

[Avalyn]

£410 from Direct line renewal, I was @£390 last year.

I could beat the renewal quote (Churchill) but not be enough to go through all the hassle.

51, Aberdeen postcode, less than 6k miles per year, parked on private property, M3 LR.

 

[DoricJim]

£497 from Admiral for me in early January. M3LR, 10k including 2k business miles with 26y NCD and Oxfordshire post code.

Went up £60… but no where else could beat it.

 

[yessuz]

Welp. Just done the slog through all the comparison sites and so on and so forth and managed to get £571 with churchill.
VERY happy with that. Lowest price i've paid for a long time, even pre Tesla.

Not bad! That would be my price if did not lock NCD.

I think PSA, Churchill, direct line and few others are basically the same just different brands

 

[mnobleuk]

£410 from Direct line renewal, I was @£390 last year.

I could beat the renewal quote (Churchill) but not be enough to go through all the hassle.

51, Aberdeen postcode, less than 6k miles per year, parked on private property, M3 LR.

You could reduce it a little by going through a comparison site that has additional excess insurance and by increasing your voluntary excess by the same amount.

 

[yessuz]

You could reduce it a little by going through a comparison site that has additional excess insurance and by increasing your voluntary excess by the same amount.

Which excess insurance provider insures non-rental excess!?

 

[ljames28]

My renewal is £1400 for a Model x. Every year it goes up a few hundred pounds despite no accidents and increasing no claims bonus. I think the first year was £800. PSA and Churchill won’t insure it at all.

 

[Billbrown1982]

Which excess insurance provider insures non-rental excess!?

Go Compare gives £250 quid excess insurance.

 

[Kansalis]

This is pretty disgusting, in my opinion... No changes, no claims, same cars. This is for my M3LR & my daughter's CitiGo on Admiral multicar. The CitiGo share has gone up by £98, but my car cover has increased by the rest (£526). I know everything is more expensive because of <insert reasons>, but a 72%+ increase is just ridiculous.

If anything, I was expecting at least my daughter's cover to be somewhat static, as she's now 22 and age makes so much difference usually.

 

[Whyone]

This is pretty disgusting, in my opinion... No changes, no claims, same cars. This is for my M3LR & my daughter's CitiGo on Admiral multicar. The CitiGo share has gone up by £98, but my car cover has increased by the rest (£526). I know everything is more expensive because of <insert reasons>, but a 72%+ increase is just ridiculous.

If anything, I was expecting at least my daughter's cover to be somewhat static, as she's now 22 and age makes so much difference usually.

View attachment 903868

Whilst your situation has remained static / improved (another claim free year) unfortunately a bunch of other stuff completely out of your control which impacts risk assessment has changed.

Time to shop around!

 

[Utumno]

I had an interesting experience with this topic.

Our MY insurance renews on 1 March, and historically we’ve been with LV, who have been absolutely fine. Renewal quote comes in from them at £1080, which I thought was a bit stiff.

Went to CTM, and refreshed last year’s quote, Admiral quoted £780, which had me put my thinking face on. Checked all the details and policy coverage and they’re much of a muchness.

So went to Admiral to start up that insurance rather than renew with LV, because £300 is £300.

On checking all the fine print that came from CTM, it turned out that the purchase date had been set at March 2023 instead of June 2022. I amended that to the correct value, and hit “Save”.

Admiral then repriced the cover to £1030

Flipping the purchase date back to March 2023 returned the quote to £780. This can only be the “new for old” replacement policy “internal cost” kicking in, surely?

If so, I wonder how many other folks whose insurance renewal dates don’t exactly align with their Tesla purchase dates are getting rinsed similarly like this?

 

[Kansalis]

Whilst your situation has remained static / improved (another claim free year) unfortunately a bunch of other stuff completely out of your control which impacts risk assessment has changed.

Time to shop around!

Well, with the new rules that mean existing customers are supposed to get the same rates as new customers, a price hike of that magnitude was definitely unexpected. Comparison sites show many quotes within £100 of what I paid last year, so it's not as if the whole insurance market has exploded to that degree.

I was naively hoping that the days of messing around with the re-quoting process were behind us...

 

[Sparkeur]

Whilst your situation has remained static / improved (another claim free year) unfortunately a bunch of other stuff completely out of your control which impacts risk assessment has changed.

The other 'stuff' being your retail insurer and their dozens of underwriters would all like to make more money.