Crazy Insurance Renewal

balllad21

Hi,

I got my insurance renewal in the post today from Hiberninan and my premium has increased by €340 for the year (to a massive €950 fully comp!)

The only thing that could have caused this jump is the fact that i claimed on the windscreen cover for stone damage. I was under the impression that this was covered on a fully comp policy and your no claims bonus would not be affected.

Is it a case that they peanilise you on your gross premium instead of you NCB? In my case the gross premium defore deductions has gone from €1500 to €2500. Has anyone else had this experience??

I think its time to shop around!

Zube

balllad21 wrote: »

The only thing that could have caused this jump is the fact that i claimed on the windscreen cover for stone damage.

There is also the complete worldwide meltdown of the financial sector to consider.

Possibly not entirely your fault, in fairness.

balllad21

They should be dropping the prices to get the business, not increasing them massively!

demon83

Insurance Companies have been hit hard by the current financial crisis, so they are passing it on to their customers via increased premiums, read recently that people should expect an increase of 10-20% for annual cover.
Still your increase does seem excessive

Anan1

Windscreen claims don't affect NCB - best thing is to shop around.

Seth Brundle

balllad21 wrote: »

I think its time to shop around!

Shopping around is something that you should be doing as part of normal practice when looking for any kind of insurance!

Mena

I'd say shop around, my fully comp went from 650 to 450, and that after I jumped up considerably in engine size and power.

Guy:Incognito

In the 12 years I've been driving, renewal letters have never come close to being the best quote. It's how its always been .

balllad21

Will a windscreen claim be held against me with another company? have tried a few websites but any time i mention the claim they wont give me a quote online. Its just a hassle now to ring everyone up!

mone

My Hibernian policy went up by a similar amount a few months back - was mainly due to being no longer allowed a discount for doing the Ignition course a few years back. Crazy situation - they were looking for more off me this year than when I got insurance first time round 4 years ago!! Shopped around and got it for half the price!!

Anan1

balllad21 wrote: »

Will a windscreen claim be held against me with another company? have tried a few websites but any time i mention the claim they wont give me a quote online. Its just a hassle now to ring everyone up!

Windscreen claims don't count, but if you want the best renewal quote you'll have to sit down with a phone & a Golden Pages and ring everyone.

Cookie_Monster

Quotes have gone up an average of 18% since January according to a relative who is a broker. this is due to insurance companies losing money because of the recession and increasing claim rates.


I've not gotten within €150 of my quote last year from anyone bar my current insurer so far:mad:

balllad21

maybe if Aviva didnt spend €40 million for Landsdowne Road they could give me a cheaper quote!!

Anan1

balllad21 wrote: »

maybe if Aviva didnt spend €40 million for Landsdowne Road they could give me a cheaper quote!!

Maybe if you weren't too lazy to ring around you'd get a better quote!;)

Seth Brundle

Stekelly wrote: »

In the 12 years I've been driving, renewal letters have never come close to being the best quote. It's how its always been .

What I have noticed is that the renewal price is based on an old policy whereas if you ask them what it would cost to take out a new identical policy, the price will drop!

godtabh

kbannon wrote: »

What I have noticed is that the renewal price is based on an old policy whereas if you ask them what it would cost to take out a new identical policy, the price will drop!

That was explained to me before as well. The lad taking the new policy was more than happy to take me on

oldyouth

balllad21 wrote: »

Hi,

In my case the gross premium before deductions has gone from €1500 to €2500. Has anyone else had this experience??

I think its time to shop around!

The gross premium has gone up, so your bonus has been unaffected and will be treated as such by any other insurer.
The gross premium reflects age + sex + car type + location, so they have reviewed everyone with your circumstances and decided to hike everyone.

Shop around is all you can do

Barr

Afraid Hibernian rates are on the increase and are looking to shift certain types of risks on their books , its nothing to do with a windscreen claim.

jenizzle

I work for an insurance company and even MY insurance has gone up :rolleyes: Everyone will be affected by it - but as a previous poster said - get the Golden Pages out.

Keith C

A lot of brokers were given a discount authority to use if under pressure on a renewal. 99% of brokers applied this discount, even if premium wasnt under pressure, whats happening now is these discounts are being removed & premiums are being pushed up (along with rate increases)
When shopping around use a broker, the intenernet yourself & phone yourself, cover all angles.
If you think car insurance is bad, ask anyone how much home insurance has gone up :eek:
The tiger cubs on boards are starting to get a glimpseof what us older people went thru in the 90's, 18 yr old £3000 for 1.1 litre peugeot :eek:

balllad21

Its an expensive time to be a motorist alright, just forked out €620 on tax and €660 on a service, i should just sell it and get a bike :mad: