Hideous Insurance Renewal Cost Increase

[Spacey]

First year insurance cost was £432 now £746 and this was with shopping around. My present insurer won't quote for a renewal. At the present rate of increase it will be closer to £1,000 this time next year. To say I'm angry and disappointed is an understatement. I know part of the reason is the number of lazy, good for nothing b******d parasites who drive with no insurance, no road fund licence and no driving licence.? (Tell us how you really feel)

I might have to sell up and drive a cheapy electric box on wheels. I live in a village, not a metropolitan area.

EDIT - Thanks everyone for your replies. I did take it more personally than perhaps I should have. My trim level is AWD ER and is Group 40 so perhaps a lower trim level could be in order for the future when I do decide to change.

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[scottgrobinson]

I paid £653 last year. Renewal came in at £1688.86... Quotes coming in around £1200.
Screw the UK insurance/financial/everything right now

 

[Steve92110]

Hello..
I posted this earlier last month….not only have EV values dropped thru the floor they now penalise us on insurance….I’m beginning to regret swopping.

”After almost 1 year of ownership my insurance is up for renewal in the UK.
I have 12 years NCD, same address, no claims or incident, no change to details ….yet my renewal policy is now double what I paid last year….Any thoughts as to why & is the EV being penalised for some reason. ?
Thanks”

 

[Wonky_Donkey]

I think the cost of insurance has sky rocketed regardless of where you live or what you drive.

 

[ProximusAl]

I’m with LV on a dual policy for my Mach-E and wife’s Ford Kuga. Last year was £989 for both, renewal this year £1250. I renewed instantly based on looking around. Some people wanted 1250 just for the Mustang.

And I have 3 naughty step points on my license ?

 

[Rjs104]

My first year owning, but when I bought my car a couple of weeks ago I was shocked by the insurance cost.

Mine went from circa 450 to 1450 - only difference was changing from an older Outlander PHEV to the MME.

I guess its just one of those things of owning newer tech that the insurance companies aren’t as confident about insuring?

Bit of a kick in the teeth though!

 

[Saltire]

Not just the MME. My renewal this month on a Ford Puma has doubled and in fact quotes from 3 weeks ago have increased by 20%. The insurance market is going nuts!

 

[hprose]

Not just the MME. My renewal this month on a Ford Puma has doubled and in fact quotes from 3 weeks ago have increased by 20%. The insurance market is going nuts!

My rate went from $750 to $840. The rate for the MME was significantly lower that my Fusion Energi. I have 3 cars on my policy. All went up the same amount or more. My F250 is at 2100 per year. It is 5 years old with 16000 miles.

 

[rhfritz]

First year insurance cost was £432 now £746 and this was with shopping around. My present insurer won't quote for a renewal. At the present rate of increase it will be closer to £1,000 this time next year. To say I'm angry and disappointed is an understatement. I know part of the reason is the number of lazy, good for nothing b******d parasites who drive with no insurance, no road fund licence and no driving licence.? (Tell us how you really feel)

I might have to sell up and drive a cheapy electric box on wheels. I live in a village, not a metropolitan area.

There's this:

Electric Car Insurance: Why It Costs More – Forbes Advisor

But one of the things I've read is that since modern EV's make the battery a quasi-structural and essentially Un-inspectable component, insurers have been forced to total the vehicle after seemingly non-catastrophic crashes with cosmetic damage because they can't warrant the accident didn't compromise the battery, potentially causing a fire (on the road or in your garage) in the near future. My MME is a far cry from my Prius where I can access and replace the entire hybrid battery by removing the spare tire from the trunk.

 

[nuMach]

Came from a Mustang GT -
Basic component went up $1
optional coverages component went down $11

still overall about $1100/year Cdn

 

[Cm12]

Same situation in the US. Mine went up 50% for an EV.

 

[Alutacon]

Same situation in the US. Mine went up 50% for an EV.

What state?

 

[HuntingPudel]

Ouch. You poor people in the UK. My IS (California) insurance rate more than doubled from my Fusion Energi to my MME GT, but it has declined ever so slightly (<2%) for my first renewal. Insurance as a whole sucks, but we are required to have it. ??

 

[RedHookEnzo]

I haven’t received my MME yet, but for what it’s worth our Gladiator and Lexus RX increased by $700 annually for no specific reason at our recent renewal.

 

[Pioneer74]

I live in Michigan. My auto insurance stayed about the same but my home insurance has gone up almost 100% in the past 3 years.

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