FBD: 10% increase in my car insurance premium. Normal?

Rebelheart

I just rang my car insurer for the past five years, FBD, and asked for a quote. I've still my no-claims bonus and with the economy so bad I was expecting it to be reduced if anything.

It wasn't: instead, they said it would increase by 10%, from €400 to €440. Don't worry, I'm already ringing other companies.

However, is such an increase common in the current economic situation?

Stark

Most insurance companies have increased their premiums this year.

Anan1

Doesn't surprise me at all, which is why I shop around every year.

bazz26

I was with FBD for around 5 years too but their prices have crept up over the last number of years and I simply got the same coverage elsewhere cheaper. Their home insurance rates have risen too, I had both with them at one stage but no more.

minikin

Yeah, mine was €550 last year... after another without claims, another year without points or convictions etc they now want €616 (rather than the €500 it should have come down to with an extra years n.c.b.)

They explained that it has been a bad year with 'a lot of claims' and 'fraud', nonsense says I... you re-insure the risk with international companies. They conceded and offered the same policy for €535... I'm holding out for €500.

basically their gambling boys had a bad year at the races and now expect us to take the hit. best o'luck with that.

Idbatterim

try nononsense.ie I really dont know why they risk losing you for E40, if they said to most people the premium would be the same, alot would just stick with them due to the lack of hassle factor! I wouldnt, Id always shop around, but a significant amount of their customers arent young an internet savy...

Tabnabs

No Nonsense is a trading name of FBD Insurance plc which is regulated by the Financial Regulator

No such thing as a bargain, read the small print and see what you'll be missing out on.

Henry Ford III

Rates in general are up way higher than 10%

EPM

Mine was with Hinbernian last few years. Went from €570 to €930 this year. Shopped around and got it for €6xx from 123.ie

Marty McFly

Yeh id also say try 123.ie they were by far the cheapest quote i got, they were cheaper by over 300 euro next to no nonsence who wanted 1200 with an excess of 4000 euro. So id say try 123.

Stark

+1

I went with 123.ie last year and went with them again this year. Get all the benefits of FBD like fully protected no claims discount and breakdown assistance.

Idbatterim

Dyflin, could you in short tell me what you miss out on when going with nononsense?

seanie500

One thing that will bring down your premium is making sure the value the Ins company have for the car is the correct market value. wont make a huge difference but will drop 50 quid odd anyway.

other option is phone round each of the ins companies playing them off against each other to get the best quote.Then AA will price match your quote plus give u another 20 off.

oldyouth

Decide what is important to you. i.e
Driving of other cars
Windscreen cover
Protected NCB
Open Drive
Comprehensive V Third Party Fire & Theft
Breakdown Assistance

Hit the phones/internet and take the best price that offers what you need. Don't be swayed by a long list of extras that do not meet your circumstances.

Simples

746watts

yeah, my FBD renewal quote jumped up €140.......... so I shopped around and went with Setanta through a broker and saved €180 on the FBD figure.
I reckon FBD are trying to make up for payouts on home insurance after the floods.

DublinWriter

Shop around. Most insurers underwriting IT systems will spot that you're a 'lazy' customer who renews without quibble every year and will automatically bump-up your premium.

123.ie and Tesco are good alternates for motor and house insurance.

squod

Happened to me before, so I callled in to their ofices and got a better deal. Always call in, never ring.

Rebelheart

746watts wrote: »

yeah, my FBD renewal quote jumped up €140.......... so I shopped around and went with Setanta through a broker and saved €180 on the FBD figure.
I reckon FBD are trying to make up for payouts on home insurance after the floods.

You could be on to something here if this is a general pattern. I rang up the AA and they gave me a quote of €364 rather than the €440 FBD was looking for this year. Got the policy details out and I see that €10 of that €364 is a government levy which I never knew about.

I know I could have gone back to FBD and they most probably would have lowered their prices but as a matter of principle I'd rather go through the inconvenience of changing insurance companies than tolerate FBD's 10% increase to an otherwise loyal customer. I've seen far too many older people fleeced by insurance companies and insurance brokers alike because of these initial high quotes.

Other than that I found FBD excellent, quick to pay out last year when the car was broken into and also to come out on the two occasions my car broke down.

thalia_13

AA are very dear this year. Got quote from axa was higher than last yr even though had another year no claims accrued. Decided to shop around, fbd were 200+ more than the renewal i got, aa and 123 were even more. Quinn were cheapest. Rang aa told them i really wanted to move to them,and also get break down cover could they possibly do anything for me. Was told they could not reduce policy at all. I rang back axa told them quotes i got, they matched quinns quote so shopping around was an interesting task for me. Ended up stayin with same company but being astounded at the variation in quotes for a bog std car!

Psygnosis

I was with Quinn 6 years so I had a no claims bonus of 6 years with them also I'm 33 and drive 2tdci Mondeo 07. My qoute on Thursday from them was 670 yoyos. So i tried 123.ie to see got a much better quote of 460 with them which included windscreen cover (quinn wanted an extra 30 euros for that) no claim insurance step back and excess 100 euros. Much better insurance for a lot less.

What I don't understand though is if your with your insurance company for 6 years why not reduce the premium a bit this way I wouldnt of went looking for a qoute elsewhere when I rang quinn they were willing to match it. But its too late for me as it left a bad taste in my mouth. Give me the qoute to start with and don't mess me around.

Fey!

I sent a letter to FBD 2 weeks ago outlining how much business we used to do with them and why they now have very little of our business. I was told on the phone that my premium went up due to the new government levy.

As a result of the letter their area manager came out to meet me to see what the problems were. To be fair to him, he listened to what I had to say and attempted to address the issues.

I'll let you know if the chat was worthwhile next week!