Car insurance renewal

Many thanks for the responses. I have looked at a price comparison site and found a quote from a company I have heard of and trust at £175 less than the £715 we have been quoted. My DIL suggests we add our two sons as additional drivers which is a good idea as we are both 81 now and increasingly dislike driving except for local routes we are familiar with, this may bring the price down further.

Last year I picked the cheapest firm I could find, which was one I had never even heard of. When the renewal came through this year it was £270 higher. I looked on a comparison site, found that the cheapest insurance I'd actually heard of was Tesco. Even better - when I started filling in my details they recognised me as a Clubcard member, and that was some more money off. I'm now paying slightly less than a was last year for a slightly better deal.

My quote had nearly doubled this year so I looked at comparison sites. I ended up going with Allianz as their quote was two or three hundred pounds cheaper than anyone else’s. It’s still about £100 more than last year but in the circumstances, it seems ok. I think I renewed it exactly 21 days before the old policy ran out.

I insured my Hyundai Getz (1.1 engine, petrol and manual) in February this year for around £400. I've owned the car for 6 years and the cost at each renewal has always been around this mark. Sadly the Getz died in July and I bought a Hyundai i.10 which is the same size as the Getz and almost identical in every respect other than it is 2 years younger.

I phoned my insurance brokers to insure the i.10 expecting a quote of £400 as usual but instead the cheapest they could offer was nearly £900. I've had no accidents, claims, changes in circumstances or anything and I'm only six months older than I was in February!

I queried it naturally as the cars are virtually identical but the broker could offer no reasonable explanation other than premiums have increased. I find it hard to believe they've more than doubled since February.

I read that from Martin Lewis Maerion, ours were sorted on Monday, our insurances are due on 14th September, 26 days.

Insuring 2 cars with the same company will probably save money, get the best quote for the higher value car then ask about the second car. You will probably get the best price around 4 weeks before renewal

Remember third party fire and theft does not cover any accident damage to your car, so if it’s fairly high value you need comprehensive

I've been looking at quotes this week.

I don't just do price comparison but even looked up the individual sites as well. The difference in some quotes is staggering.

I think I am staying with the one I've been with for two years because their quote is much the same as some others.

For the first time ever I will be paying in instalments as the annual payout is too much.

It's ridiculous what they charge now.

Age may be a factor but timing is also a factor.

Read this from moneysavingexpert:

www.moneysavingexpert.com/tips/2024/08/13/

26 days before renewal date is the sweet spot but any time between 20 and 27 should do.

Leave it till the last two weeks and prices really skyrocket possibly even doubling.

Put your details into a comparison site, but study the small print carefully. Price is not everything and the cheapest premium may have a higher excess, or may not include certain items which are extra with some companies.

Try phoning the company and telling them you can't afford it so will not be renewing with them. When I did that, admittedly a few years ago, they had a re-think and came back with a price fractionally less than the previous year.

If they don't do that, then find somewhere else!

I’ve just done both of ours fully comp, saved about £70 across the two.

It used to be that 3rd party was the cheapest but now there are more claims on 3rd party policies than fully comprehensive so 3rd party can be more expensive than fully comprehensive.
I keep my fully comprehensive insurance down by having very low mileage but realise that's not a sensible option for everyone.