2024 Insurance Costs

[yessuz]

So got my dreaded Insurance renewal notice from my insurance company.
I was one of the lucky ones who got quote from Peugeot insurance (now Stellantis) in early 2022.
I am 41 yo, live in small market town in midlands. no convictions, wife is set as second driver.
6 years NCD (which gives me 17% discount, which is same as 5, 6 or 7 years NCD. 8 years NCD give you 18% discount and max is 9 NCD or more which is 24% discount)
Total excess - 750.

Last year (Feb 2023) premium was £ 639.52
This year (Feb 2024) premium: £ 992.32
this is if pay at once. Monthly payments would sum to total of £1096

so 55% increase.... completely justifiable.... lol. will call them and will try to check if possible to agree on something better.

Go Compare the meerkats provide it at around 1250+ (cheapest being Go Skippy with 1k excess + 500 voluntary...)
I do not think DL will provide anything better, but will check again.

at least Peugeot still covers me

 

[Pink Duck]

Have you tried lowering voluntary excess on comparison sites? Sometimes there can be spikes or rewards at certain values.

My optimal last time around was at £300 voluntary as it turned out.

 

[yessuz]

oh yeah, esure gives me 873 on the wombat with 650 compulsory and 300 voluntary...

will call Stellantis to talk a bit

p.s. anyone knows difference between Esure and Esure Flex?!

 

[Oxid8ter]

oh yeah, esure gives me 873 on the wombat with 650 compulsory and 300 voluntary...

will call Stellantis to talk a bit

p.s. anyone knows difference between Esure and Esure Flex?!

If its anything like the others, they'll be different levels of cover. I imagine Flex is a more paired down policy compared to the Esure.

When looking for insurance for my "Highland" Admiral gave me 4 options:

- Admiral LittleBox (Black Box at 35y/o, no thanks)
- Admiral Essential (most basic of basic cover)
- Admiral (Generic insurance with a few bolt ons)
- Admiral Gold (As above with a few more bolt ons)
- Admiral Platinum (As above but with all the bells and whistles).

Weird your quotes are coming up so high. I am 35, 10 years NCB (though Admiral only do max 5 apparently), and with me and OH on the insurance we were averaging £600 with voluntary excess around the 350-450 mark. I know its not 'the same car', but quite a contrast...

 

[Burley]

p.s. anyone knows difference between Esure and Esure Flex?!

When I looked into it, Flex appears to be online only with no way of speaking to a person if you need to. Also no option to add cover abroad (at least to cover beyond 3rd party only). I steered well clear of it..

 

[AndyWarrington]

So got my dreaded Insurance renewal notice from my insurance company.
I was one of the lucky ones who got quote from Peugeot insurance (now Stellantis) in early 2022.
I am 41 yo, live in small market town in midlands. no convictions, wife is set as second driver.
6 years NCD (which gives me 17% discount, which is same as 5, 6 or 7 years NCD. 8 years NCD give you 18% discount and max is 9 NCD or more which is 24% discount)
Total excess - 750.

Last year (Feb 2023) premium was £ 639.52
This year (Feb 2024) premium: £ 992.32
this is if pay at once. Monthly payments would sum to total of £1096

so 55% increase.... completely justifiable.... lol. will call them and will try to check if possible to agree on something better.

Go Compare the meerkats provide it at around 1250+ (cheapest being Go Skippy with 1k excess + 500 voluntary...)
I do not think DL will provide anything better, but will check again.

at least Peugeot still covers me

Similar prices/ratios as what mine were when I renewed in Dec though I'm slightly older with full NCD.
Like everything these days, everyone's taking the pi$$ and wanting the £'s from our pockets....

 

[spdpsba]

everyone's taking the pi$$ and wanting the £'s from our pockets....

Not Tesla - the new model 3 is £39,900 less than the previous ones.

 

[AndyWarrington]

Not Tesla - the new model 3 is £39,900 less than the previous ones.

They've had their bit from me too! My config is now IRO £6K cheaper than the original deliveries when I took mine

 

[Leejmoff]

So got my dreaded Insurance renewal notice from my insurance company.
I was one of the lucky ones who got quote from Peugeot insurance (now Stellantis) in early 2022.
I am 41 yo, live in small market town in midlands. no convictions, wife is set as second driver.
6 years NCD (which gives me 17% discount, which is same as 5, 6 or 7 years NCD. 8 years NCD give you 18% discount and max is 9 NCD or more which is 24% discount)
Total excess - 750.

Last year (Feb 2023) premium was £ 639.52
This year (Feb 2024) premium: £ 992.32
this is if pay at once. Monthly payments would sum to total of £1096

so 55% increase.... completely justifiable.... lol. will call them and will try to check if possible to agree on something better.

Go Compare the meerkats provide it at around 1250+ (cheapest being Go Skippy with 1k excess + 500 voluntary...)
I do not think DL will provide anything better, but will check again.

at least Peugeot still covers me

not bad to be honest. Mine went from 440 to 980 with Direct Line. I upped my voluntary to get it £100 lower. I've got 23 NCD and never had a claim/crash or any points

 

[_MJF_]

Not Tesla - the new model 3 is £39,900 less than the previous ones.

That would make the new ones only a couple of grand, then.

Those stalks really were an expensive part.

 

[Durzel]

Wasn’t Peugeot insurance a blag in the first place? You sortof acknowledge it was in your OP. It wasn’t intended to be coverage for non-Peugeots, as I understand it, but allowed it unintentionally. I think they stopped taking brand new policies from Tesla owners.

In that context the jump doesn’t seem so bad. I paid just over your 2024 quote last year with LV=, and I’ve older, live rurally, do less than 5k miles a year and have 16 years NCD.

 

[yessuz]

Wasn’t Peugeot insurance a blag in the first place? You sortof acknowledge it was in your OP. It wasn’t intended to be coverage for non-Peugeots, as I understand it, but allowed it unintentionally. I think they stopped taking brand new policies from Tesla owners.

In that context the jump doesn’t seem so bad. I paid just over your 2024 quote last year with LV=, and I’ve older, live rurally, do less than 5k miles a year and have 16 years NCD.

 

[Foxsbiscuits]

I went with esure flex a few months ago, 1k for the year with a 900 excess. I have the AWD and haven't driven for about ten years and am 37, dunno how that factors into the insurance machine.

I was sceptical of the 3 star defaqto but dug into it a bit more. Here's the difference -

Esure Flex is a 3 Star Defaqto rated product compared to our 5 Star Defaqto rated esure product. This means that some of the benefits differ.
The cover included in both but with different limits are: Medical expenses £100 for esure Flex compared with £300 esure 5 Star, and Personal Accident £2,500 limit for esure Flex compared with £5,000 limit for esure 5 Star.
Cover included in 5 Star that's not included in 3 Star flex are: Cover for personal belongings and lost keys/stolen keys, theft of sat nav and audio equipment, lost/stolen keys, hotel expenses.

I am happy with these differences, they don't seem significant, I think the 3 star rating makes it sound worse than it is.
When I asked about adding Acc Boost they said it's £150 more.

Also no option to add cover abroad (at least to cover beyond 3rd party only).

Esure Flex has 90 days EU cover included as standard.

Apparently prices are up because "repairs are more expensive and there's a labour shortage". The average now is just under 1k. Be grateful you aren't 17-20, they're looking at 3k average.

It certainly doesn't fit with me hoping this would be an economical runner (Setting aside the actual car cost)

 

[yessuz]

I went with esure flex a few months ago, 1k for the year with a 900 excess. I have the AWD and haven't driven for about ten years and am 37, dunno how that factors into the insurance machine.

I was sceptical of the 3 star defaqto but dug into it a bit more. Here's the difference -

I am happy with these differences, they don't seem significant, I think the 3 star rating makes it sound worse than it is.
When I asked about adding Acc Boost they said it's £150 more.


Esure Flex has 90 days EU cover included as standard.

Apparently prices are up because "repairs are more expensive and there's a labour shortage". The average now is just under 1k. Be grateful you aren't 17-20, they're looking at 3k average.

It certainly doesn't fit with me hoping this would be an economical runner (Setting aside the actual car cost)

ok... btw EU cover is third party, not comprehensive. and this is with more or less all insurance deals... you need to buy add-on for comprehensive EU coverage...

 

[Jonnymack74]

So got my dreaded Insurance renewal notice from my insurance company.
I was one of the lucky ones who got quote from Peugeot insurance (now Stellantis) in early 2022.
I am 41 yo, live in small market town in midlands. no convictions, wife is set as second driver.
6 years NCD (which gives me 17% discount, which is same as 5, 6 or 7 years NCD. 8 years NCD give you 18% discount and max is 9 NCD or more which is 24% discount)
Total excess - 750.

Last year (Feb 2023) premium was £ 639.52
This year (Feb 2024) premium: £ 992.32
this is if pay at once. Monthly payments would sum to total of £1096

so 55% increase.... completely justifiable.... lol. will call them and will try to check if possible to agree on something better.

Go Compare the meerkats provide it at around 1250+ (cheapest being Go Skippy with 1k excess + 500 voluntary...)
I do not think DL will provide anything better, but will check again.

at least Peugeot still covers me

Mine went up over 300 last year. Anything similar may make me drive with no insurance and pay the 300 quid fine when caught..cheaper to be fined

 

[Hurricane]

It’s £300 and six points per fine and you could be banned after being caught twice.

And what if you knock down a child and have no insurance to pay for their ongoing care and medical needs?

I applaud you for thinking only of yourself. It’s heart warming to see how altruistic people can be.

 

[Andywil]

It’s £300 and six points per fine and you could be banned after being caught twice.

And what if you knock down a child and have no insurance to pay for their ongoing care and medical needs?

I applaud you for thinking only of yourself. It’s heart warming to see how altruistic people can be.

Not forgetting that your car will be seized and only released if you pay and turn up with valid insurance.
Failing this the car will be crushed.

 

[Whyone]

Not Tesla - the new model 3 is £39,900 less than the previous ones.

Wow!

Now that is a game changing cost reduction.

 

[Foxsbiscuits]

ok... btw EU cover is third party, not comprehensive. and this is with more or less all insurance deals... you need to buy add-on for comprehensive EU coverage...

Yea that's right actually, didn't know. They word it weirdly by saying "you have the minimum legal requirement" aka third party as you say.

 

[Js1977]

Mine went up over 300 last year. Anything similar may make me drive with no insurance and pay the 300 quid fine when caught..cheaper to be fined

It’s £300 and six points per fine and you could be banned after being caught twice.

And what if you knock down a child and have no insurance to pay for their ongoing care and medical needs?

I applaud you for thinking only of yourself. It’s heart warming to see how altruistic people can be.

Pretty sure it was a tongue in cheek comment but it will happen as it already does and always has done.

Ive seen some fluctuations in my time but nothing as extreme as this and the lack of regulation for something that is compulsory and affects every driver out there will exacerbate the issue... Im sure the extra tax revenue will go a long way towards backing up the post office instead