Was the first year on a new car and the car value has now dropped?

 

Mine went down for the first time this year when I turned 60. I found someone cheaper still though.

 

'Age'?

Let me guess, you passed 55? this year?

'Click here if you are a boring old fart, and want a discount.'

 

Aviva Zero?

Mine was similar last week and i couldnt understand it! egolf went from 300 to 150 with the same terms.

Me and the wife insured, 37 and 39 YO

 

I'm with Aviva zero.
Have been a few times and always cheap- done a few car change quotes recently and had some surprisingly high quotes for what to me seems a lesser risk than the ID3.
Maybe a different kettle of fish than a renewal.

 

Price walking was banned in 2022. Reinsurance is now stable and cheaper.

Margins can no longer be harvested through inertia pricing, so the computer determines to maintain book size, underwriterbot decided to compress margins on clean risks. So you benefit if you drive a standard car for a long time with low risks

 

Another thought.
Companies have to charge existing customers the same as new customers. I believe!

 

Vehicle insurance generally has come down across the board.
Obvious answer is supply chains for parts are getting back to normal.

 

Mine didn't quite halve but it fell by around 1/3rd, I ended up staying with the same insurer (Aviva Zero) as a result. Seems like a few have had that experience... I'm guessing they're finding EVs aren't quite the insurance disaster many skeptics had pronounced!

 

Mine fell on my BMW M3 by 60% this year. Mind you, the previous year it had increased by circa 40%!

We’ll set what happens in 6 months time on my VW Golf GTE.

 

Maybe long time customers have got fed up with the hikes and found someone else. I had been with LV with my ICE for a long time and then with my EV for three years and then they hiked the price unexpectedly so I walked off to Darwin. I went back to have a discussion with LV about the Darwin quote and they were prepared to come down a bit but not that much. So they've lost a long term customer who didn't make any claims. Perhaps customers walking is hitting their bottom line but I don't know that for sure. Good to hear that some sense is coming back.

 

I walked off to Darwin.

That was a long walk.

 

Just had my insurance renewal quote and its almost £300 cheaper than last year when they doubled it.

 

I hope mine comes down too.

It went up £300 last year to £845 with my switch from diesel to an ev

 

Mine came down for the ID4, but my wife's went up for the ID3. Both are the same age, mileage is a hit lower for the ID3 but not much, same two drivers on both, no new claims or convictions. The ID3 is now almost the same price as the ID4 and if we'd have stuck with the same insurer (previously they were both insured by Churchill) it would have been more. I thought that was a bit weird.

 

For the record without oversharing, I'm in my late 30s, which according to one graph is actually a riskier age cat since we are old enough to afford more powerful cars but also tend to have babies which makes us sleepier or something. The car does have an 'E' on its insurance category which apparently denotes excellent security features, so perhaps insurers are more concerned about theft than crashes. The supply chain thing does seem to be the most likely explaination, and perhaps some stats have been supplied indicating that EV drivers are somehow safer since we're all trying to hypermile and thus driving calmly and definitely not using Sport mode.

 

For the record without oversharing, I'm in my late 30s, which according to one graph is actually a riskier age cat since we are old enough to afford more powerful cars but also tend to have babies which makes us sleepier or something.

They arent wrong....years ago when my daughter was just born i wrote off a VW UP by turning right in front of someone coming the other way. My sleep deprived brain didnt see a massive grey van