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Old 1 Week Ago   #1
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Do you want the good news or the bad news?

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.

*****************
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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Old 1 Week Ago   #2
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Re: Do you want the good news or the bad news?

My insurance on the Tipo has just gone down from £199 to around £170 fully comp.
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Old 1 Week Ago   #3
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Re: Do you want the good news or the bad news?

Emphasis is on the word average
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Old 1 Week Ago   #4
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Re: Do you want the good news or the bad news?

Depends how old you are, your no claims discount, where you live .. and the vehicle/age/make/value.

My 94 Cinquecento 900cc costs £120 with 3 years NCD. My 01 4 litre jeep costs £180 per year and my wife's 04 Saab 2.2 costs about the same.

I can't help but believe that those of you who live in the south east/big cities are being overcharged for insurance.

And having said that, I'm led to believe that the UK has some of the lowest insurance costs around?

In China you can buy and sell a vehicle with insurance on it .. just as in the UK we used to be able to leave the road tax on a sold car.

The (Chinese) insurance which costs about £50 a year is transferred to the new owner of the vehicle, and it covers him to take the car out onto the roads ... however, in the event of an at-fault accident the owner cannot claim from his insurance - he must personally pay for the damage/injuries caused to the other vehicle/driver. Many Chinese are paying all their lives for an accident they caused. Miss a monthly repayment and they go to prison until the money is paid, no questions asked.

There's no NCD as such. If a Chinese driver wants extra protection to cover things like injury and damage to himself or another, he has to fork out about £500 extra per year - which is the equivalent of about 2 month's salary for a university teacher.

We all grizzle about insurance.. but ...
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Old 3 Days Ago   #5
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Re: Do you want the good news or the bad news?

Quote Originally Posted by glenn2602 View Post
In China you can buy and sell a vehicle with insurance on it ..
So what insurance is this then

As you've then gone on to explain how it covers nothing at all, so it appears....
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Old 2 Days Ago   #6
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Re: Do you want the good news or the bad news?

Like it says on the tin...
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Old 1 Day Ago   #7
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Re: Do you want the good news or the bad news?

Quote Originally Posted by glenn2602 View Post
Like it says on the tin...
But it doesn't, hence my asking.
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Old 18 Hours Ago   #8
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Re: Do you want the good news or the bad news?

Sounds more like a charge to get you on the road, like road fund licence over here, rather than an insurance - as MEP says.
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