[Seaford]

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.

[Jon D]

Originally Posted by Seaford

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.

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.

[AP]

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

[Vic55]

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.

[Seaford]

Originally Posted by Jon D

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.

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.

[Beemer5to3]

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.

[Justao]

Mine’s due for renewal next month… 2 years ago ir was £1.3k, last year £2.3k, cannot wait to receive a renewal quote in few weeks 🙈

[Cookae]

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)

[bloozemanAZ]

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).

[Seaford]

Originally Posted by bloozemanAZ

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.

Called Progressive and talked to a very friendly rep. He stated yep their bad on the accident but stayed 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 node 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).

If you don’t mind me saying you have some real First World issues there!

[bloozemanAZ]

Originally Posted by Seaford

If you don’t mind me saying you have some real First World issues there!

Not at all as when it comes down to it that pretty much sums it up. 😜 My wife feels guilty about the accident and losing her beloved 2017 X5 which was her dream SUV (she had a Ford Escape when we married) and hence it sentimental loss.

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. 👍