by HC Fairley » Mon Nov 28, 2022 1:49 pm
Likewise Chris.
I have 3 cars on a multicar policy with admiral, got my renewal through 2 weeks ago. The policy had increased by £550 in one year !
To put it all into context I'm 23. The cars as follows;
09 Mondeo 2 litre Diesel 140bhp 25,000 miles a year
95 rover 620Ti 2 litre petrol 200bhp 5,000 miles a year
75 Vauxhall Viva 1256 petrol feels like 12 bhp 5,000 miles a year
Combined 8 years no claims over the 3 cars.
A literal 8 minute phone call to them saw the price drop by a staggering £400 !!!!!!
Unfortunately still paying £150 more than last year but a lot less than I would have done. It was also set up to auto renew, crafty buggers, so if I had forgotten about it I would have had a shock.
I think it can mostly be attributed to the rising value of second hand cars. My Mondeo 2 years ago with 135,000 miles on the clock was valued at £1200. Just last week it was again valued, might I add with significantly more wear and tear especially to the wheels and bodywork, at £3000 with the clock now reading 183,000 miles. I guess the more supposedly "valuable" the car is the more it costs to replace, therefore the more it costs to insure. People paying silly money for second hand cars are to blame if you ask me. How an almost 14 year old Mondeo that has been 3/4 of the way to the moon is worth £3000 is beyond me.