…from £280 to £415, a 48% increase.

Is this normal these days? Why?

Please don’t mention ‘climate change’.

--
Spike

In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
<aero.spike@mail.com> writes
>
>…from £280 to £415, a 48% increase.
>
>Is this normal these days? Why?
>
>Please don’t mention ‘climate change’.
>
Well, it's THAT - plus the cumulative price rises caused by Covid,
Ukraine and Liz Truss- and let's not forget Brexit. These all have been
responsible for a period of galloping inflation (although Brexit
supporters will claim that the substantial pay rises that Brexit has
brought about in some quarters has been beneficial). As a result, we've
all been conditioned to have to expect to pay more for almost
everything, so why should insurance escape? After all, why should those
working in the insurance industry (and their shareholders) be expected
to suffer?
--
Ian
Aims and ambitions are neither attainments nor achievements

On 17 Apr 2024 15:33:21 GMT, Spike <aero.spike@mail.com> wrote:

>
>…from £280 to £415, a 48% increase.
>
>Is this normal these days? Why?
>
>Please don’t mention ‘climate change’.

Motor insurance is similar. Mine went up by 30% recently. When I
queried it, I was told that my increase was on the low end of the
scale!

--
Chris

Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
> In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
> <aero.spike@mail.com> writes
>>
>> …from £280 to £415, a 48% increase.
>>
>> Is this normal these days? Why?
>>
>> Please don’t mention ‘climate change’.
>>
> Well, it's THAT - plus the cumulative price rises caused by Covid,
> Ukraine and Liz Truss- and let's not forget Brexit. These all have been
> responsible for a period of galloping inflation (although Brexit
> supporters will claim that the substantial pay rises that Brexit has
> brought about in some quarters has been beneficial). As a result, we've
> all been conditioned to have to expect to pay more for almost
> everything, so why should insurance escape? After all, why should those
> working in the insurance industry (and their shareholders) be expected
> to suffer?

Are you talking about the 3.2% and reducing galloping inflation reported
today?

--
Spike

Spike wrote:
> from £280 to £415, a 48% increase.
>
> Is this normal these days? Why?
It's been normal from what my various insurers (car, house and business
liability) have all tried-on this year, turns out they all lost my
business and I've ended-up with only a marginal increase for the car
policy and actual reductions in the other two.

On 17/04/2024 17:13, Chris Hogg wrote:
> On 17 Apr 2024 15:33:21 GMT, Spike <aero.spike@mail.com> wrote:
>
>>
>> …from £280 to £415, a 48% increase.
>>
>> Is this normal these days? Why?
>>
>> Please don’t mention ‘climate change’.
>
> Motor insurance is similar. Mine went up by 30% recently. When I
> queried it, I was told that my increase was on the low end of the
> scale!
>

My car insurance went up by 42% early this year and the comparison sites
showed I could better the renewal quote by less than £10. Most companies
were quoting a higher premium, and some by a large amount.

My building and contents insurance renewal is due in about 2 months time :(

One thing to watch out for with a renewal quote is the company
increasing the excess amounts which can be the hidden price rise if you
have to make a claim. Also if you have optional legal protection on a
car policy you probably don't need to have optional legal cover on your
house insurance (or visa versa) because the cover is for any claim. Read
the T&C carefully to see what is covered.

--
mailto : news {at} admac {dot} myzen {dot} co {dot} uk

Chris Hogg wrote:
> Motor insurance is similar. Mine went up by 30% recently. When I
> queried it, I was told that my increase was on the low end of the
> scale!
I know this year there have been various "hot" factors for car insurance
(e.g. EVs and Land Rovers).
I'd been with LVE for 6 years with only slight increase in that time,
this year they tried to jump it from £420 to £685, so I found a
replacement for £470.
That car is an Audi A5, and I have been trying hard *not* to think about
replacing it, but the thought does keep entering my head of a Q5 PHEV, I
got as far as getting a quote from existing insurer for one over the
weekend ... That'll be an extra £1000 premium for the remaining 10
months of the policy, plus a fee for changing it ... same story from
specialist insurers and comparison sites ...
All similar plugin hybrid mid-size SUVs seem the same story, so I think
I'm suitably put-off changing for now.

Andy Burns <usenet@andyburns.uk> wrote:
> Spike wrote:
>
>> from £280 to £415, a 48% increase.
>>
>> Is this normal these days? Why?
>
> It's been normal from what my various insurers (car, house and business
> liability) have all tried-on this year, turns out they all lost my
> business and I've ended-up with only a marginal increase for the car
> policy and actual reductions in the other two.

Did you use a broker or online comparison sites to find your new insurers?

--
Spike

Spike wrote:
> Did you use a broker or online comparison sites to find your new insurers?
comparison site for car and house, I chose hiscox directly for liability
insurance.
Oddly when I was thinking about changing car, adrian flux seemed to try
hard behind the scenes but didn't get within £700 of comparison sites.

On Thu, 18 Apr 2024 01:57:55 +1000, Ian Jackson
<ianREMOVETHISjackson@g3ohx.co.uk> wrote:

> In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
> <aero.spike@mail.com> writes
>>
>> …from £280 to £415, a 48% increase.
>>
>> Is this normal these days? Why?
>>
>> Please don’t mention ‘climate change’.
>>
> Well, it's THAT - plus the cumulative price rises caused by Covid,
> Ukraine and Liz Truss- and let's not forget Brexit. These all have been
> responsible for a period of galloping inflation

There has not been any galloping inflation

And hardly anyone has seen a 48% increase.

> (although Brexit supporters will claim that the substantial pay rises
> that Brexit has brought about in some quarters has been beneficial). As
> a result, we've all been conditioned to have to expect to pay more for
> almost everything, so why should insurance escape? After all, why should
> those working in the insurance industry (and their shareholders) be
> expected to suffer?

In message <l8adn3FpqcqU1@mid.individual.net>, Spike
<aero.spike@mail.com> writes
>Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>> In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
>> <aero.spike@mail.com> writes
>>>
>>> …from £280 to £415, a 48% increase.
>>>
>>> Is this normal these days? Why?
>>>
>>> Please don’t mention ‘climate change’.
>>>
>> Well, it's THAT - plus the cumulative price rises caused by Covid,
>> Ukraine and Liz Truss- and let's not forget Brexit. These all have been
>> responsible for a period of galloping inflation (although Brexit
>> supporters will claim that the substantial pay rises that Brexit has
>> brought about in some quarters has been beneficial). As a result, we've
>> all been conditioned to have to expect to pay more for almost
>> everything, so why should insurance escape? After all, why should those
>> working in the insurance industry (and their shareholders) be expected
>> to suffer?
>
>Are you talking about the 3.2% and reducing galloping inflation reported
>today?
>
As I said, a PERIOD of galloping inflation (didn't it hit around 11%?).
Don't make the mistake of confusing a reduction in prices with a
reduction in the rate of inflation. I guess it's pretty unlikely that
many of the last four years' price rises will ever be reversed.
--
Ian
Aims and ambitions are neither attainments nor achievements

On Thu, 18 Apr 2024 05:43:51 +1000, Ian Jackson
<ianREMOVETHISjackson@g3ohx.co.uk> wrote:

> In message <l8adn3FpqcqU1@mid.individual.net>, Spike
> <aero.spike@mail.com> writes
>> Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>>> In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
>>> <aero.spike@mail.com> writes
>>>>
>>>> …from £280 to £415, a 48% increase.
>>>>
>>>> Is this normal these days? Why?
>>>>
>>>> Please don’t mention ‘climate change’.
>>>>
>>> Well, it's THAT - plus the cumulative price rises caused by Covid,
>>> Ukraine and Liz Truss- and let's not forget Brexit. These all have been
>>> responsible for a period of galloping inflation (although Brexit
>>> supporters will claim that the substantial pay rises that Brexit has
>>> brought about in some quarters has been beneficial). As a result, we've
>>> all been conditioned to have to expect to pay more for almost
>>> everything, so why should insurance escape? After all, why should those
>>> working in the insurance industry (and their shareholders) be expected
>>> to suffer?
>>
>> Are you talking about the 3.2% and reducing galloping inflation reported
>> today?

> As I said, a PERIOD of galloping inflation (didn't it hit around 11%?)..

That's not GALLOPING.

> Don't make the mistake of confusing a reduction in prices witha
> reduction in the rate of inflation. I guess it's pretty unlikelythat
> many of the last four years' price rises will ever be reversed.

On 17/04/2024 19:30, Andy Burns wrote:
> Spike wrote:
>
>> Did you use a broker or online comparison sites to find your new
>> insurers?
>
> comparison site for car and house, I chose hiscox directly for liability
> insurance.
>
> Oddly when I was thinking about changing car, adrian flux seemed to try
> hard behind the scenes but didn't get within £700 of comparison sites.
>
My home insurance renewal was up to nearly double the previous price. I
found a better deal with a comparison site. Strangely my car insurance
renewal was up by £60 to £340, I checked the comparison sites and none
could find a quote better than £620!

My current insurer was found by the Meerkats in 2023 and is no longer
featuring on the Meerkats comparisons. As they had the best price I
renewed with them.

On 17/04/2024 16:33, Spike wrote:
>
> …from £280 to £415, a 48% increase.
>
> Is this normal these days? Why?
>
> Please don’t mention ‘climate change’.
>
It's all those pint bottles of wine and gammon that has pushed up your
price.

In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
<aero.spike@mail.com> writes
>
>…from £280 to £415, a 48% increase.
>
>Is this normal these days? Why?
>
>Please don’t mention ‘climate change’.
>

My motor insurance price went up by about that amount. I complained
after shopping around and got a substantial reduction . I expect the
same runaround when I renew my home insurance. They're maybe boiling the
frogs too quickly this year.

Brian

--
Brian Howie

Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
> In message <l8adn3FpqcqU1@mid.individual.net>, Spike
> <aero.spike@mail.com> writes
>> Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>>> In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
>>> <aero.spike@mail.com> writes
>>>>
>>>> …from £280 to £415, a 48% increase.
>>>>
>>>> Is this normal these days? Why?
>>>>
>>>> Please don’t mention ‘climate change’.
>>>>
>>> Well, it's THAT - plus the cumulative price rises caused by Covid,
>>> Ukraine and Liz Truss- and let's not forget Brexit. These all have been
>>> responsible for a period of galloping inflation (although Brexit
>>> supporters will claim that the substantial pay rises that Brexit has
>>> brought about in some quarters has been beneficial). As a result, we've
>>> all been conditioned to have to expect to pay more for almost
>>> everything, so why should insurance escape? After all, why should those
>>> working in the insurance industry (and their shareholders) be expected
>>> to suffer?
>>
>> Are you talking about the 3.2% and reducing galloping inflation reported
>> today?
>>
> As I said, a PERIOD of galloping inflation (didn't it hit around 11%?).

So we’re now in a PERIOD of galloping inflation reduction?

> Don't make the mistake of confusing a reduction in prices with a
> reduction in the rate of inflation.

That is how it is being reported.

> I guess it's pretty unlikely that
> many of the last four years' price rises will ever be reversed.

I can remember when beer was 2/- a pint. I don’t expect we’ll see
subsequent price rises reversed.

Do you have a point in being so silly?

--
Spike

brian wrote:

> I complained after shopping around and got a substantial reduction.

I don't play those games, find cheapest replacement then cancel renewal.

> They're maybe boiling the frogs too quickly this year.
I think they are, and hope they get the message by next year.

Andy Burns <usenet@andyburns.uk> wrote:
> brian wrote:
>
>> I complained after shopping around and got a substantial reduction.
>
> I don't play those games, find cheapest replacement then cancel renewal.
>
>> They're maybe boiling the frogs too quickly this year.
> I think they are, and hope they get the message by next year.

But they will have had two to three years of 50% inflation in premiums by
then, and there’s little chance of them falling back as there’s too much
money to be made. Rather like the Renewables industry’s prices.

--
Spike

In message <op.2mefr3nvbyq249@pvr2.lan>, Rod Speed
<rod.speed.aaa@gmail.com> writes
>On Thu, 18 Apr 2024 05:43:51 +1000, Ian Jackson
><ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>
>> In message <l8adn3FpqcqU1@mid.individual.net>, Spike
>><aero.spike@mail.com> writes
>>> Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>>>> In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
>>>> <aero.spike@mail.com> writes
>>>>>
>>>>> …from £280 to £415, a 48% increase.
>>>>>
>>>>> Is this normal these days? Why?
>>>>>
>>>>> Please don’t mention ‘climate change’.
>>>>>
>>>> Well, it's THAT - plus the cumulative price rises caused by Covid,
>>>> Ukraine and Liz Truss- and let's not forget Brexit. These all have been
>>>> responsible for a period of galloping inflation (although Brexit
>>>> supporters will claim that the substantial pay rises that Brexit has
>>>> brought about in some quarters has been beneficial). As a result, we've
>>>> all been conditioned to have to expect to pay more for almost
>>>> everything, so why should insurance escape? After all, why should those
>>>> working in the insurance industry (and their shareholders) be expected
>>>> to suffer?
>>>
>>> Are you talking about the 3.2% and reducing galloping inflation reported
>>> today?
>
>> As I said, a PERIOD of galloping inflation (didn't it hit around 11%?).
>
>That's not GALLOPING.

OK - but would you accept "One giant leap for UK-kind"?
>
>> Don't make the mistake of confusing a reduction in prices witha
>>reduction in the rate of inflation. I guess it's pretty unlikelythat
>>many of the last four years' price rises will ever be reversed.

--
Ian
Aims and ambitions are neither attainments nor achievements

In message <l8c0a3F2i7aU1@mid.individual.net>, Spike
<aero.spike@mail.com> writes
>Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>> In message <l8adn3FpqcqU1@mid.individual.net>, Spike
>> <aero.spike@mail.com> writes
>>> Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>>>> In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
>>>> <aero.spike@mail.com> writes
>>>>>
>>>>> …from £280 to £415, a 48% increase.
>>>>>
>>>>> Is this normal these days? Why?
>>>>>
>>>>> Please don’t mention ‘climate change’.
>>>>>
>>>> Well, it's THAT - plus the cumulative price rises caused by Covid,
>>>> Ukraine and Liz Truss- and let's not forget Brexit. These all have been
>>>> responsible for a period of galloping inflation (although Brexit
>>>> supporters will claim that the substantial pay rises that Brexit has
>>>> brought about in some quarters has been beneficial). As a result, we've
>>>> all been conditioned to have to expect to pay more for almost
>>>> everything, so why should insurance escape? After all, why should those
>>>> working in the insurance industry (and their shareholders) be expected
>>>> to suffer?
>>>
>>> Are you talking about the 3.2% and reducing galloping inflation reported
>>> today?
>>>
>> As I said, a PERIOD of galloping inflation (didn't it hit around 11%?).
>
>So we’re now in a PERIOD of galloping inflation reduction?
>
>> Don't make the mistake of confusing a reduction in prices with a
>> reduction in the rate of inflation.
>
>That is how it is being reported.
>
>> I guess it's pretty unlikely that
>> many of the last four years' price rises will ever be reversed.
>
>I can remember when beer was 2/- a pint. I don’t expect we’ll see
>subsequent price rises reversed.

We both can remember was £2 a pint. But tell that to the young folks of
today (etc, etc ,,,,,,,,).
>
>Do you have a point in being so silly?
>

--
Ian
Aims and ambitions are neither attainments nor achievements

On Thu, 18 Apr 2024 19:34:20 +1000, Ian Jackson
<ianREMOVETHISjackson@g3ohx.co.uk> wrote:

> In message <op.2mefr3nvbyq249@pvr2.lan>, Rod Speed
> <rod.speed.aaa@gmail.com> writes
>> On Thu, 18 Apr 2024 05:43:51 +1000, Ian Jackson
>> <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>>
>>> In message <l8adn3FpqcqU1@mid.individual.net>, Spike
>>> <aero.spike@mail.com> writes
>>>> Ian Jackson <ianREMOVETHISjackson@g3ohx.co.uk> wrote:
>>>>> In message <l8a8e1Fp0a5U1@mid.individual.net>, Spike
>>>>> <aero.spike@mail.com> writes
>>>>>>
>>>>>> …from £280 to £415, a 48% increase.
>>>>>>
>>>>>> Is this normal these days? Why?
>>>>>>
>>>>>> Please don’t mention ‘climate change’.
>>>>>>
>>>>> Well, it's THAT - plus the cumulative price rises caused by Covid,
>>>>> Ukraine and Liz Truss- and let's not forget Brexit. These all have
>>>>> been
>>>>> responsible for a period of galloping inflation (although Brexit
>>>>> supporters will claim that the substantial pay rises that Brexit has
>>>>> brought about in some quarters has been beneficial). As a result,
>>>>> we've
>>>>> all been conditioned to have to expect to pay more for almost
>>>>> everything, so why should insurance escape? After all, why should
>>>>> those
>>>>> working in the insurance industry (and their shareholders) be
>>>>> expected
>>>>> to suffer?
>>>>
>>>> Are you talking about the 3.2% and reducing galloping inflation
>>>> reported
>>>> today?
>>
>>> As I said, a PERIOD of galloping inflation (didn't it hit around 11%?).
>>
>> That's not GALLOPING.
>
> OK - but would you accept "One giant leap for UK-kind"?

Nope, nothing even remotely like a giant leap

>>> Don't make the mistake of confusing a reduction in prices witha
>>> reduction in the rate of inflation. I guess it's pretty unlikelythat
>>> many of the last four years' price rises will ever be reversed.

On 18/04/2024 09:54, Spike wrote:

> But they will have had two to three years of 50% inflation in premiums by
> then, and there’s little chance of them falling back as there’s too much
> money to be made. Rather like the Renewables industry’s prices.
>

Insurance is a surprisingly cyclical business. Premiums go up, making
the business profitable. So more capital is raised, to allow a bigger
market share, but that provides increased competition, and premiums reduce.

On 18/04/2024 14:38, GB wrote:
> On 18/04/2024 09:54, Spike wrote:
>
>> But they will have had two to three years of 50% inflation in premiums by
>> then, and there’s little chance of them falling back as there’s too much
>> money to be made. Rather like the Renewables industry’s prices.
>>
>
> Insurance is a surprisingly cyclical business. Premiums go up, making
> the business profitable. So more capital is raised, to allow a bigger
> market share, but that provides increased competition, and premiums reduce.
>
>

Possibly they are not allowed to offer deals to new custom that they
don't offer to existing custom. In theory they are no longer able to
fleece loyal custom in the way they once did.

I used to change insurers every year in order to get the new customer
discount which kept my premiums fairly stable for many years. The
renewable quotes were always a lot higher than I previously paid and
shopping around significantly brought the price down. In the past 2/3
years the renewal quotes have been competitive with what I've found on
various comparison sites. Perhaps for car insurance I'm now in a higher
risk group based on my age.

--
mailto : news {at} admac {dot} myzen {dot} co {dot} uk

alan_m wrote:

> GB wrote:
>
>> Insurance is a surprisingly cyclical business. Premiums go up, making
>> the business profitable. So more capital is raised, to allow a bigger
>> market share, but that provides increased competition, and premiums
>> reduce.
>
> Possibly they are not allowed to offer deals to new custom that they
> don't offer to existing custom. In theory they are no longer able to
> fleece loyal custom in the way they once did.

I think that is easily got round, if the new policy is in any way
different to the old policy.

On 17/04/2024 04:33 pm, Spike wrote:
>
> …from £280 to £415, a 48% increase.
>
> Is this normal these days? Why?
>
> Please don’t mention ‘climate change’.

Does it include buildings insurance?

IF it does, then climatic conditions may well be a factor. The only
claim I've ever made under the buildings policy was in connection with
that 1987 hurricane.