That time of year again.... insurance renewal

[Columbo]

Just had my renewal from Churchill and it's increased by £150 for no reason whatsoever, nothing has happened or changed my end.
Anyone else noticed this? Done a couple of comparison searches and found one £250 cheaper but it's with 'Boom' who I've never heard of before. Anyone with them?

 

[Liquidv]

Inflation

 

[robmcm]

With the cost of cars going up and the inability to get repairs, insurers are having to pay out a lot more. Ours went up £100+ too, ended up getting one car on Hastings and keeping the banger on Churchill.

Probably wasted the best part of a day trying to sort it out, not sure it was worth the effort or stress.

 

[Nick77]

Try TopCashBack's own comparison search. They were the cheapest for me this year compared to other comparison sites, and you also get £40 back off the price.

 

[m3p_uk]

Just had my renewal from Churchill and it's increased by £150 for no reason whatsoever, nothing has happened or changed my end.
Anyone else noticed this? Done a couple of comparison searches and found one £250 cheaper but it's with 'Boom' who I've never heard of before. Anyone with them?

Their view of risk would have changed, mainly inflation, possibly from more data to update their risk models but unless you have a time machine you also got a year older too....

 

[Dilly]

My renewal with Churchill was 3rd July
last year £380 something. this year £460 but £437 after negotiation
includes green flag

 

[GRiLLA]

I went into Churchill online and pressed to amend the renewal and the increase came off again.

 

[ProfessorK]

Likely because of the 6 month repair times where insurers need to pay for courtesy cars and storage of the cars… speaking from experience

And the inflation.

 

[Adopado]

Just had my renewal from Churchill and it's increased by £150 for no reason whatsoever, nothing has happened or changed my end.
Anyone else noticed this? Done a couple of comparison searches and found one £250 cheaper but it's with 'Boom' who I've never heard of before. Anyone with them?

My Churchill renewal was initially going up £70 but I saw that they had reduced the default level of voluntary excess ... I am happy to run with a relatively high voluntary excess so tweaked it back up (still less than originally) and my increase in premium is now reduced to £36. £261 on an SR+ for a low risk person (and wife) in a low risk area.

 

[Ozboz7]

Went through comparethemarket & Flow... Was £200 cheaper through compare Vs direct via Flow

 

[bainsy]

For those who have recently renewed - what is the typical cost? I've just been quoted £1200 (that was the cheapest offer)

 

[PITA]

For those who have recently renewed - what is the typical cost? I've just been quoted £1200 (that was the cheapest offer)

I've just renewed both cars...

Vauxhall Insignia Grand Sport... £200 lower than last year. Renewed at £250

Tesla Model 3 Performance... £250 more than last year. Renewed at £1004

I was unpleasantly surprised about the Tesla renewal price, but overall it averaged back out.

But a quick Comparison Website was worse, with the lowest renewal price at £1600 on the Tesla...

 

[Casss]

Just the usual insurance company games...

Sales quarters, underwriters appetite for risk given the current financial situation

Spoiler: + the secret ingredient

Greed. It's greed. Some existing customers are just easy to fleece at renewal - people lead busy lives, have other stresses.

Admiral wanted an extra £250 for this year (around £1k), but I did a comparison around 1 month before renewal and went back to those quotes, updated the start date and got the same coverage for £580 from elsewhere.

Just changing the dates by 2-4 weeks on comparison sites I've found really useful.

 

[Skenno]

When I ordered my model Y back in April the cheapest quote was £500, but it's now £750. Seems a bit of a jump. That was from a comparison site. I've tried a couple of independent quotes claiming to specialise in electric vehicles but they're all much higher so far. No idea what I'll end up paying when/if we ever get the car!

 

[C225]

My renewal with Admiral was 800 odds up from 525 last year, went through comapre the market and got a Churchill quote of £367 so went with that. Actually includes legal cover as well which admiral did not.

 

[Pink Duck]

Done a couple of comparison searches and found one £250 cheaper but it's with 'Boom' who I've never heard of before.

Boom is just an intermediary company offering the service of Complete Cover Group Limited, an independent insurance broker registered with FCA, aiming at covering those with high-risk factors.

 

[bainsy]

There’s some really cheap quotes here (between £500-700)

Not sure why I’m getting quoted £1200… will shop around for sure

 

[Casss]

There’s some really cheap quotes here (between £500-700)

Not sure why I’m getting quoted £1200… will shop around for sure

As with every insurance thread ever, there are lots of factors.

Timing is really important though. Sorry this probably isn't helpful to you now, but for future - If I do a new quote comparison to start in the next 30 days, I'm looking at around 800 - 900 lowest, but for some reason quotes I had saved from July which are valid for 30 days are 300 - 400 cheaper, and different providers. So I've paid the deposit on the new policy to get that price even though it doesn't start for another couple of weeks when current one expires.

I always used to look 15 days before renewal. Now I tend to do 45 days, 30 days and 15.

You could run a comparison search tomorrow and get new providers that are much cheaper though.

 

[bainsy]

As with every insurance thread ever, there are lots of factors.

Timing is really important though. Sorry this probably isn't helpful to you now, but for future - If I do a new quote comparison to start in the next 30 days, I'm looking at around 800 - 900 lowest, but for some reason quotes I had saved from July which are valid for 30 days are 300 - 400 cheaper, and different providers. So I've paid the deposit on the new policy to get that price even though it doesn't start for another couple of weeks when current one expires.

I always used to look 15 days before renewal. Now I tend to do 45 days, 30 days and 15.

You could run a comparison search tomorrow and get new providers that are much cheaper though.

Thank you for this. It’s helpful indeed!

I’m going to start shopping around, to be fair, last month the cheapest was £1500 by LV and now it’s £1200 with flow

So I think it is all about timing. Unfortunately I don’t have any plates or confirmed date yet so it’s hard for me to really pin point actual dates with the insurer

Think I will just keep trying my luck and just haggle a price down as much as I can

 

[Ozboz7]

According to MSE cheapest average time is 23 days prior to starting insurance

Have a look at their legitimate job title change - if your job fits an alternate title it may save you quite a bit. Mine went down 35% for being more specific!