Car insurance hike

I’m clearly not the only person who is appalled at the price hike in insurance this year. It’s something of a talking point on motoring magazines (and their sites) and money saving websites.

What makes this even more galling is the it’s not the higher rated insurance that’s gone up, as in previous years. This time around insurance companies have pushed up the base rates. Making insurance for ordinary people more expensive.

How do I know this? Well, last year I paid a little under £300 for a year of fully comprehensive insurance. While this year, well the first quotes I received exceeded £600. In the end, I managed to get a useful quote around the £400 mark. But that’s still absolutely ridiculous given I have had an another year of “no accidents” and “no endorsements”. So surely I’m safer bet!

At present the insurance companies are struggling to come up with a coherent excuse as to the gauging. So far I’ve heard that it’s the rise of fake accidents, where people are crashing on purpose and then making high personal injury claims. Or, could it be excuse number two, the increase in uninsured drivers; people who cannot accord the insurance.

So the solution to uninsured drivers is to make insurance MORE expensive. Does that make any sense to anybody outside the insurance industry?

I mean they act like a cabal. There are so little actual insurance companies around. The majority of advertisers that people respond too are actually insurance brokers. Despite claims that they are the “insurer” themselves.

Just to highlight how insane my insurance is. Should I decide to swap out my charming little group 5 run around, I could jump right into the seat of the Porsche 911 Carrera 4 and pay only £850 a year insurance. So my little Smart ForFour is basically 50% of the price to insure as a Group 20 sports car!

It kind of makes a mockery of the whole “insurance group” thing in general. Because I could indeed run around in a Skoda Oktavia vRS (150mph etc) and THE INSURANCE IS THE SAME. It’s a group 13 car.

Clearly, there is something very broken in car insurance. What is the point of insurance groupings when they markedly have no relation to the final insurance cost.

But lets face it. We are only believing that insurance is going up for reasons the insurance companies have told us. Nobody in the media is bothering to actually check that this is the case. So if you ask me, this is just another example of insurance companies raising a little bit of cash on the backs of the rest of us. I wonder if other countries in Europe are facing similar crimes/insurance increases. Or is it just us, again.

The insurance hike looks more like greed than a reflection on society.

Don’t believe that insurance companies wouldn’t mislead the media? Think again.

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