Quote:
Originally Posted by neilgorin
I had it confirmed by a broker that a lot of these rises are due to the excesses not having kept pace with inflation - where people were happy with a £200 excess 20 years ago, they still expect a £200 excess and that causes higher premiums. He's not wrong, having played around with Meercat myself on my wife's car which was renewed last month, the renewal was almost double but I got the increase down to around 10% when I put the excess up to £400 from it's former £200.
£400 is a bad scratch these days, for which we wouldn't be making a claim so it does make some sense.
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Both of the cars on my mulit-car policy (the XC60 PE and the Mini GP3) have a £500 compulsory excess anyway and when I played about with the voluntary excess, it didnt make as big a change as I would have expected so kept it as zero on both for the renewal.
When I shopped around trying to get a cheaper price, most of the other 5* insurers wanted at least a £500 compulsory (with some £750) and adjusting the voluntary excess made quite a big difference but even setting it at £500 (so a combined £1,000 excess), the policy was still alot more expensive than my renewal quote so I'm expecting next year to be stupid expensive.