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Car Insurance Doubled Uk – Drivers need to find ways to deal with the astronomical increase in car insurance rates. Photo: Rosemary Roberts/AlamyView full screen image
Drivers need to find ways to deal with the astronomical increase in car insurance rates. Photo: Rosemary Roberts/Alamy
Car Insurance Doubled Uk
For some this means changing cars, for others they accept the tracking device or simply decide to leave the car
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Although Rob Jakes is a certified driving instructor, he is not immune to the rising cost of car insurance. The 36-year-old from Derby has recently seen a major upgrade in the value of his 2019 Ateca seat renewal.
“I’m confused because I’m driving and knowing my way again,” Jacques said. Even shopping around was fruitless and his supplier Churchill was the cheapest option so he had to lower his cover. Now there is no more insurance against lost keys, hotel fees if they break or run out of fuel.
“I have a baby on the way. I can’t spend the money, so I have to pay a little.”
Motorists across the country are finding that insurance rates have risen over the past year. The average full cover is now £561 – almost a third more than at the same time in 2022, according to new figures from the Association of British Insurance (ABI).
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The increase comes as insurers brace for rising parts and labor costs, while repairs become more expensive as cars get more expensive.
Readers talk about the impact of the big boost and what they did in response. Many have reduced the size of their covers, like Jacques, while others have increased the excess, reduced mileage or agreed to fit a tracking device. But many depended on their vehicle and could not move forward.
When the insurance on her 2012 Honda Civic came up for renewal in October, 32-year-old Claire Hodgkin was quoted around £600, up from just £250 last year.
“It’s crazy – I didn’t expect it to increase so much for people who have been driving for a while,” said the social worker, who has been complaint-free for eight years.
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The best quote she can come up with is still double that of last year for the same full coverage. “This all happened at the same time. My job required me to get a car, so I had to pay for it.
Mark Webber, 52, from St Albans has seen his car insurance for his Audi A3 rise from £403 last year to more than £1,500 three months ago.
“One option is available from Hastings Direct, which for £600, with an extra £250, gives me driving with a widget that takes care of driving and calculates me. It’s amazing to drive with something like a camera Fast always looks good to you, but it’s better than paying a lot of money.
“Where we live now, it will be difficult to live without a car. It was amazing as we lived in London for 20 odd years where we only used the tube.
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“But gas prices combined with insurance costs make car ownership questionable. Higher interest rates won’t affect us yet, and we still don’t know how much our mortgage will increase.
Diana Morrison, 38, a project manager from Bradford, couldn’t believe it when the cost of insuring a 2020 Range Rover Evoque rose from £450 to £1,300 last year.
But it more than doubled to £2,800 despite the “huge surplus” and was the cheapest offer she found on the price comparison site. “I’m looking to sell my car for a make and model that won’t cost me that much of my insurance,” she said.
Diana Morrison regrets taking the car because the insurance premium is low and she wants to trade it in for a cheaper model.
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However, some people decide that owning cars is not a problem for them. When he returned to the UK this summer after two years abroad, retired and returned to the UK, 66-year-old Richard Scrys decided not to buy another car.
It costs £264.49 for full insurance until November 2021, but has found the same level of cover for a similar electric car offered from £460.
“I use a car club and an e-bike,” he said. “You can get a stick car at the drop of a hat. If you don’t need a vehicle, the price is so high that you ask, ‘Why do you have one?’
Mark Davies*, from Kent, sold his Mazda in October after his insurer increased the cost of his comprehensive cover. “Even with the inflation, we can’t see how they can justify the increase. We complained but they didn’t care,” he said.
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He and his partner then worked out how much the car didn’t have much use for, insurance, vehicle insurance and gas, and decided to sell them.
They now rely on public transport, cycling and walking, with the option of renting a car if needed. He was released. We are better off financially and of course in health,” he said.
“We live about two miles from Tunbridge Wells so it’s cycleable and walkable. I understand if you get too big with poles it’s a problem.” If you were born outside the UK, it’s a big cost to renew your car insurance Picture: Rosemary Roberts/AlamyView full screen image
If you were born outside the UK, there is a higher cost to renew your car insurance. Photo: Rosemary Roberts/Alamy
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I renewed our car insurance and as always I am amazed at the disadvantages (discrimination?) that people born outside the UK face. My friend was born to British parents in Australia. Every time we want to insure the car I have to declare it and as a result the price is £30-£40 more than if it was born in the UK. I can understand the price increase due to the increased risk for someone who has recently moved to the UK, but my partner has been driving here for 20 years.
Even if it has been on UK roads for 50 years it will be the same story and the price difference is significant. Research by Competthemarket.com found that non-UK born drivers with a UK license were charged an average annual tax of £837, compared to £595 for the average UK born driver. Those with an international license can expect to pay upwards of £1,500. Insurers call this “risk assessment”; to the rest of us, it looks like discrimination.
According to the Association of British Insurers, providers always adhere to equality rules, although the Equality Act states that customers cannot be put at a disadvantage because of their nationality. In practice, it shows that this can be the case if companies are strong enough to do so. The “strong excuse” in this case is the insurer’s insistence that foreign-born drivers want to file higher claims.
Alex Hastie, director of Compethemarket, said: “Insurers use a number of factors to calculate your car insurance value, including your age, occupation, annual mileage, address, vehicle and model, driving history and any other Discounts on your claim Next, insurers need to assess how well you can claim and may increase your premium if you pass your driving test outside the UK.
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As always, insurers have different attitudes towards risk and some are known to raise their rates for foreign-born applicants more than others, so it’s worth shopping around.
Email [email protected]. Include an address and phone number. Delivery and delivery are subject to our terms and conditions. Claims fees have driven up car insurance prices, experts say. Photo: Peter Dazeley/Getty ImagesView image in full screen
Claims fees have driven up car insurance prices, experts say. Photo: Peter Dazely/Getty Images
The average cost of car insurance in the UK has hit a record low of almost £1,000 after prices rose by more than 50% last year, according to new figures.
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Motorists can now pay an average of £995 for car insurance, the highest ever in the UK, according to new figures published by price comparison website Confused.com.
Prices have skyrocketed over the past year, making car insurance almost unaffordable for many people, especially if they have filed a claim in recent years. Prices have risen by an average of £366 (or 58%) over the past 12 months, according to Confused.com.
The increase in the cost of car insurance is one of the main causes of inflation, which reached a 40-year high last year. Three-quarters of drivers who renewed their policies in the past three months reported paying more than they did the year before, with reported premiums rising to nearly 90% in some cases.
Drivers aged 17-20 have seen their premiums double on average in the past 12 months, from £1,423 to £2,877, reports Confused.com. and
