11-29-2023, 12:32 AM | #1 |
Lieutenant Colonel
1148
Rep 1,687
Posts |
Insurance
Just renewed the insurance on my UK 840…even with haggling/comparison sites it has gone up 79%.
Admittedly I have thought my premiums were extremely low in the past but it’s still a bit of a shocker. |
11-29-2023, 07:05 AM | #2 |
Brigadier General
224
Rep 3,016
Posts |
I have the same car and I'm expecting a similar 'surprise' next May. Who are you insured with? I use NFU, certainly not the cheapest around but they have a good reputation.
|
Appreciate
0
|
11-29-2023, 07:24 AM | #3 |
Major General
2782
Rep 5,094
Posts |
The increases are an absolute joke
What’s not helping are increased prices of new cars And the fact that they get wet turn off so easily now due to the cost of parts Believe EVs are also certainly not cheap to insure Lots of range rovers stolen in London, heard a figure of 90 per day in London if that’s to be believed Is it down to more accidents or more stolen cars? Different factors for everyone it I laid £875 last year for my m550 in London, I have no doubt this will be 4 figures when I come to renew in March. I’m sure there is a bit of taking the mick by the insurance companies and pricing out people they don’t want to undertake the risk on |
Appreciate
0
|
11-29-2023, 07:49 AM | #4 |
Lieutenant General
19364
Rep 10,166
Posts |
Obviously I cant speak to whats happening across the Pond but here in Cali I am going to see 3 straight years of premium increases even as my cars get older (if I dont replace) as labor, parts, etc pricing goes up vertically.
My M8 renewal (2023) with an umbrella for 7 figures and the max liability coverage at Geico is over 2k a year. Even my Porsche is less- dont even ask about the R8 LOL. Chips and Salsa are now 5 bucks in some places LOL.
__________________
2024 BMW M3 CS Frozen Solid White
2023 BMW M8 Coupe Competition Alpine White 2022 Porsche Carrera GTS Coupe Shark Blue 2020 Audi R8 V10 Performance Suzuka Gray 2012 Mercedes Benz C63 AMG Black Series Obsidian Black |
Appreciate
1
RNemesisN63545.50 |
11-30-2023, 02:35 AM | #5 |
Lieutenant Colonel
1148
Rep 1,687
Posts |
Hastings Direct. Been with them for about five years. Despite the 79% increase they were still over £100 cheaper than anything I could find on comparison sites and a much lower no claims as well.
|
Appreciate
0
|
11-30-2023, 05:03 AM | #6 |
Major
907
Rep 1,154
Posts |
Seaford I had the same last month, 96% renewal hike with Admiral (combine car & home). I just pushed them hard, added the Mrs’ car as a multi-cover when it’s due for renewal, and all in all my renewal was 23% higher, which was a win in my book. 12k miles a year, driveway, business + SDPC.
|
Appreciate
1
Seaford1147.50 |
12-01-2023, 12:34 AM | #8 |
Private
132
Rep 54
Posts |
I'm not doing too bad then also with Hastings, 22 yo went from 1450 to 1575 with both parents on with me and 4 years no claims.
No one would even dare insure me a year ago when I bought it, minimum quote being 6k+ with a black box hastings made me pay £400.extra switching from a 5 series Gt. (m850i 69plate) |
Appreciate
1
Seaford1147.50 |
12-02-2023, 10:28 PM | #9 |
Brigadier General
4269
Rep 4,335
Posts
Drives: 2020 M850i Coupe
Join Date: Oct 2019
Location: Arizona
|
Was expecting a rate increase from Progressive after the wife's at fault accident that paid others plus a totalled buyout into the 2017 X5. When I noticed my M850i rate went up pretty decently vs just her new X5 LCI I started digging. The irony is they had me as the driver for the at fault accident so assumed why the M850i went up.
Called Progressive and talked to a very friendly rep. He stated yep their bad on the accident but stated even after he adjusted that the overall renewal barely went down. The explanation was rates went up across the board due to increasing repair rates along with the obvious I lost the 3-year safe driver and 5-year accident free discount. Overall still cheaper than the nose bleed pricing from originally just adding the M850i to the 10+ year old Allstate insurance. He is offered to connect me with a home insurance specialist for a potential bundled discount but I'd already looked into that and at least 6 months back it's a 3rd party vs Progressive Direct. Plus, I'd have to go through the entire jewelry rider hassle of appraisals, etc. for the wife's stuff and 7 watches on it (the exotics are already on Jewelers Mutual as most home insurance won't cover a single piece on a rider worth over $50K). |
Appreciate
0
|
12-03-2023, 03:25 AM | #10 | |
Lieutenant Colonel
1148
Rep 1,687
Posts |
Quote:
|
|
Appreciate
1
bloozemanAZ4268.50 |
12-03-2023, 11:49 AM | #11 | |
Brigadier General
4269
Rep 4,335
Posts
Drives: 2020 M850i Coupe
Join Date: Oct 2019
Location: Arizona
|
Quote:
I just tell her the only thing that matters is she walked away uninjured and even with the rate increase it will take Progressive >5 years to recoup the total payout on the accident to us plus the other car/driver. By that time accident free, claim free, etc. and time to auto insurance shop again. I'm not messing around with the real assets from an insurance standpoint vs a car is a car and easily replaceable. The rest took decades to build prior to our marriage (10th anniversary last month) as a single guy living below his means balancing needs/wants for the first 20 years of my career that shifted to wants/needs once I got to the point in life nothing financially could F with me. 👍 |
|
Appreciate
0
|
Post Reply |
Bookmarks |
|
|