Do you want the good news or the bad news?

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Do you want the good news or the bad news?

#1

Post by ChrisKnottIns »

Hi, I thought you'd be interested in this even if your car insurance isn't due just yet but especially if it is! There's some bad news but there's also some relief at the end...

The bad news
According to an industry report last week, Comprehensive car insurance premiums are now at their highest levels since 2010.

The report reveals that the average premium rose to £847 during Q2 of 2017. That's an increase of £66 or 8.4% across the last quarter and £132 or 18.5% across the last 12 months.

The report cites 4 main reasons:

1) the increase in Insurance Premium Tax (IPT), which has been going up since July 2015 and now sits at 12%,

2) the marked reduction in the Ogden discount rate for personal injury awards,

3) good old Brexit - insurers are seeing increases in the cost of vehicle repairs, fuelled by Brexit’s impact on car part prices, and

4) greater repair complexity as the level of expensive technology in vehicles increases.

The report claims there's no evidence to suggest the increases are going to abate. A £1,000 average premium is still on the horizon but is getting closer.

There's some good news though...
Chris Knott's average new policy premium is just £405 - less than half the national average according to the report. This is also a much shallower increase across the last year - only £14 (3.6%) and still bucking the trend.

As a happy client recently said "This is my third year with @ChrisKnottIns and every year they beat all my other quotes for both cars that are modded. Many thanks again and keep up the good work and the prices down!" carcall, Audi-Sport forum

Please give us a call for a quote to access these lower average rates for club members. You'll need to mention this forum to gain access to our 'Clubs & Enthusiasts scheme'.

QUOTELINE: 0800 917 2274

ONLINE: Visit https://www.chrisknott.co.uk/CarQuote to request a call back.

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Feedback about our clubs and enthusiasts offering:

"Well Chris Knott's has come good again - this is my 3rd year with them now this year. They beat all other quotes I was getting without even trying." Rusty2009, Astra J/GTC OC

"Another customer today. Not entirely new as insured a few Alfas with you many years ago. Good price, friendly chat with Ian. Not convinced about the need to supply driving licence check code as never had to do that before, nothing to hide but guess it's to flush out some that have." gavp, BabyBMW forum

"Hi Guys, just purchased my first policy from you - beat my renewal with AXA of £845, now I'm paying £760. Happy motoring. Easy, quick and competitive ." Vrs_Maj, VWAudi Forum


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Re: Do you want the good news or the bad news?

#2

Post by smokebelch »

I'm sorry but I cannot believe brexit has got anything at all to do with an increase in car repairs.
More like an excuse to steal even more cash off the motorist.

I honestly imagine that inside these insurance companies all the employees are sat wearing black eye masks and ride a horse called black Bess to work.

Highway robbery!!!!!
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Re: Do you want the good news or the bad news?

#3

Post by Rod Panhard »

smokebelch wrote:I'm sorry but I cannot believe brexit has got anything at all to do with an increase in car repairs.
More like an excuse to steal even more cash off the motorist.

I honestly imagine that inside these insurance companies all the employees are sat wearing black eye masks and ride a horse called black Bess to work.

Highway robbery!!!!!

I think the interest rates next to zero can't help and that the quest for decent yield from insurance and pension companies is driving them into riskier that ideally required assets just to get a decent rate of return.
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Re: Do you want the good news or the bad news?

#4

Post by Gadget »

Just renewed my insurance and it has actually gone down £5.
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Re: Do you want the good news or the bad news?

#5

Post by Hotblackcoupe »

We haven't Brexited yet. Maybe when we finally do everything will become more affordable.

Anyway I'm happy as I got a good price with Chris Knott.
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Re: Do you want the good news or the bad news?

#6

Post by smokebelch »

http://www.bbc.co.uk/news/business-40632427

This article on the beeb today about the report states the average policy is £484 not £847 as the OP states.

No wonder I'm cinical when it comes to insurance companies
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Re: Do you want the good news or the bad news?

#7

Post by Jonathanp19 »

if people who are older than me and have bigger engine cars/non mods/ and more years no claims get an average insurance policy of £1000 then im apparently doing fantastic..

Also annoys me that all of these COme insure with us posts DO not include their age rejection policy...
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Re: Do you want the good news or the bad news?

#8

Post by smokebelch »

Jonathanp19 wrote:if people who are older than me and have bigger engine cars/non mods/ and more years no claims get an average insurance policy of £1000 then im apparently doing fantastic..

Also annoys me that all of these COme insure with us posts DO not include their age rejection policy...
I must be doing unbelievable then!... 46, 8 yrs ncb, Audi a5 no mods.....£232 fully comp
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Re: Do you want the good news or the bad news?

#9

Post by InspectorPoirot »

Jonathanp19 wrote:Also annoys me that all of these COme insure with us posts DO not include their age rejection policy...
That irritates me too. It's like the other day I got a YouTube ad for spandex. At least give me something relevant, I thought this stuff was supposed to be chosen based on my internet browsing or something.

Oh wait
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Re: Do you want the good news or the bad news?

#10

Post by Hotblackcoupe »

InspectorPoirot wrote:
Jonathanp19 wrote:Also annoys me that all of these COme insure with us posts DO not include their age rejection policy...
That irritates me too. It's like the other day I got a YouTube ad for spandex. At least give me something relevant, I thought this stuff was supposed to be chosen based on my internet browsing or something.

Oh wait
Haha, Inspector Spandex :laughing-rollingyellow:
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Re: Do you want the good news or the bad news?

#11

Post by dantanner »

smokebelch wrote:I must be doing unbelievable then!... 46, 8 yrs ncb, Audi a5 no mods.....£232 fully comp
Show off :laughing-rollingyellow:
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Re: Do you want the good news or the bad news?

#12

Post by ChrisKnottIns »

smokebelch wrote: This article on the beeb today about the report states the average policy is £484 not £847 as the OP states.
Here's the article I've cited - in the insurance industry press - https://www.insuranceage.co.uk/insurer/ ... since-2010
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Re: Do you want the good news or the bad news?

#13

Post by Jonathanp19 »

not exactly taking the whole industry in now is it... apparently according to your article its only coming from Confused.com/Willis Towers Watson, not a very good data sample. Do a Google search and well much lower prices are called up.
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Re: Do you want the good news or the bad news?

#14

Post by ChrisKnottIns »

Jonathanp19 wrote: Also annoys me that all of these COme insure with us posts DO not include their age rejection policy...
For the avoidance of doubt the minimum driver age is 23 for most Coupes:
COUPE
COUPE ATLANTIC
COUPE AUTO
COUPE F2
COUPE F2 AUTO
COUPE F2 EVOLUTION
COUPE F2 EVOLUTION AUTO
COUPE FX
COUPE S
COUPE SE
COUPE SE AUTO
COUPE SI
COUPE SIII
COUPE TSIII
S COUPE MV I AUTO
S COUPE MV TURBO I
COUPE SIII V6
COUPE V6

It's 22 for the:
S COUPE GSI
S COUPE LSI
S COUPE MV I
S COUPE MVI SE
S COUPE MVI TURBO SE

as long as the rest of the risk stacks up.
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Re: Do you want the good news or the bad news?

#15

Post by ImGoingSpace »

its all daylight robbery, because we have to have it legally. and while theres a million 'insurers' they all use the same underwriters, so prices dont really drop. why should newer cars being more complex make it more expensive for those in not complex cars (a good example being the coupe!)

And yet, CK, here i am insured on a modified 2ltr coupe elsewhere.
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Re: Do you want the good news or the bad news?

#16

Post by Jonathanp19 »

ImGoingSpace wrote:its all daylight robbery, because we have to have it legally. and while theres a million 'insurers' they all use the same underwriters, so prices dont really drop. why should newer cars being more complex make it more expensive for those in not complex cars (a good example being the coupe!)

And yet, CK, here i am insured on a modified 2ltr coupe elsewhere.
As am I
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Re: Do you want the good news or the bad news?

#17

Post by InspectorPoirot »

Jonathanp19 wrote:
ImGoingSpace wrote:its all daylight robbery, because we have to have it legally. and while theres a million 'insurers' they all use the same underwriters, so prices dont really drop. why should newer cars being more complex make it more expensive for those in not complex cars (a good example being the coupe!)

And yet, CK, here i am insured on a modified 2ltr coupe elsewhere.
As am I
Same
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Re: Do you want the good news or the bad news?

#18

Post by Burger28 »

ChrisKnottIns wrote:
Jonathanp19 wrote:
It's 22 for the:
S COUPE GSI
S COUPE LSI
S COUPE MV I
S COUPE MVI SE
S COUPE MVI TURBO SE
Was this the reason Daz got the S-Coupe...? :laughing-rollingyellow:
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