Insurance renewals

wombat88

wombat88

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Just wondering, has anyone else noticed a significant hike in their insurance renewals.

Mine was £155 for the last two years, this year it jumps to £189. (No changes or claims made).

Is this the new normal?
 
Quite common as insurers are working through the losses of recent years and the changes in regulations. Part of what they are doing is re appraising their underwriting criteria and looking for the profitable business. Suspect that low value basic insurance is an area that is not attractive. Other insurers may take a different view if they have different mix so shopping around is the way o find out - although whether you want the hassle for £34 is for you to decide.
 
Well, £38 is £38 but there is a principle in here somewhere. Might be something to do with an explanation of the increase which curiously matches the new business discount offered by others.

I will phone the original insurer and talk to a human being, it has worked in the past.
 
I found it's been really weird this year - boat insurance renewal went up by under a fiver, and my bike insurance actually went down! Both cars went up though (shopping around brought that down).
For all of them, there has been no change in any of the details apart from another year's no claims...
But different to last year where they all did their typical jumps in price
 
I renew my new boat to me with pants but there was some negotiation to be done ,
I Been with the well over 25 years and when I sold the last boat they wrote to say they be happy to insurers my next boat.
The first quote given was more then my last boat which was bigger, more valuable and had extended cruising area.
After getting other quotes from other company which where quite a lot cheaper, they reduced the amount but £50 then the cheapest quote.
Just goes to show you have to twist their arms to get a good deal.
 
Bear in mind that you don't find out how good your insurance is until you make a claim.
I was lucky to use GJW from the start and made a couple of sizeable claims which were dealt with efficiently and amicably. No attempt to deny responsibility. I'm between boats at the moment but when required, I'll go back to them.
 
sailaboutvic said:
I renew my new boat to me with pants but there was some negotiation to be done ,
I Been with the well over 25 years and when I sold the last boat they wrote to say they be happy to insurers my next boat.
The first quote given was more then my last boat which was bigger, more valuable and had extended cruising area.
After getting other quotes from other company which where quite a lot cheaper, they reduced the amount but £50 then the cheapest quote.
Just goes to show you have to twist their arms to get a good deal.
Click to expand...

I've been with them too for the past 17 years and my renewal earlier this year went up by £20, I did the shop around thing and found a £120 saving with two other comanpies but it would have cost me a compulsory £700 / £800 survey to change so I swallowed the renewal increase...
 
You can say that about all the major insurers - car, boat, house simply because the vast majority of claims are straightforward. Only ever made 2 claims on boat, 1987 storm and stolen dinghy. Both accepted without question. 2 on household, one simple, one complex which was difficult to resolve. Currently making a claim on my car insurance, only my third in nearly 50 years and agreed immediately over the phone. Just needed photographic evidence of damage and quote from the repairer.

When there is a dispute over a claim there is almost always a sound reason, although that does not mean the insurer is always right.
 
Lightwave395 said:
I've been with them too for the past 17 years and my renewal earlier this year went up by £20, I did the shop around thing and found a £120 saving with two other comanpies but it would have cost me a compulsory £700 / £800 survey to change so I swallowed the renewal increase...
Click to expand...
Did you confront them ?

Im not suggestion they would had match them but you may found they maybe a reduction
 
Tranona said:
You can say that about all the major insurers - car, boat, house simply because the vast majority of claims are straightforward. Only ever made 2 claims on boat, 1987 storm and stolen dinghy. Both accepted without question. 2 on household, one simple, one complex which was difficult to resolve. Currently making a claim on my car insurance, only my third in nearly 50 years and agreed immediately over the phone. Just needed photographic evidence of damage and quote from the repairer.

When there is a dispute over a claim there is almost always a sound reason, although that does not mean the insurer is always right.
Click to expand...
No wonder insurance are going up with all tho claims your making ?
 
sailaboutvic said:
Did you confront them ?

Im not suggestion they would had match them but you may found they maybe a reduction
Click to expand...

They eventually conceded the £20, so not a great success but although I've never made a claim I do perceive (or at least hope) they are one of the better insurers and I suspect I may have at maybe another 5 years max with my current boat before I may have to change for something a little easier to handle when I would shop around for insurance.
I am curious as to what, if any, effect age may have on insurance - at some point I wonder if a 75 year old flying around single or double handed sometimes at double digit speeds on a relatively light weight 12m ex-racer is a good insurance bet...
 
sailaboutvic said:
No wonder insurance are going up with all tho claims your making ?
Click to expand...
I know 7 claims in 50 years, total less than £5 k is pretty poor going. about 4 years premiums that I currently pay for house, boat and 3 cars. current claim is for a freak incident when a piece of wood stored in a rack in the garage fell on the Morgan. 2 dents in the bonnet and one on a wing. £1500!
 
Was with Saga.
Saga withdrew from marine insurance recently and passed my business to HKJ.
On renewal HKJ matched the previous years Saga quote presumably to prevent me wandering off elsewhere.
Bought new boat and decided to ask HKJ for quote, despite the chap on the phone assuring me they had given me a 20% discount as an existing customer, thought the quote a tad expensive..
Decided to shop around and get a quote from Craftinsure,a company had dealt with in past (and made two claims).
Saved myself £180.00..
Did go through the policy caveats and unable to find obvious differences.
Chances of leaving my boat unattended Offshore NIL
More than 24 hours singlehand NIL.
 
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