My G63 is coming up to 2 years old next month. The first year insurance was a sensible £700. 2nd year went up to £1600 (no change in circumstances). My 3rd year quote is over £3k, again no change in circumstances. Can anyone recommend a U.K. insurance company with better rates. I just feel as though I'm being ripped off. Thanks.

 

Rates in the U.S are increasing due to theft, car-jackings and drug induced accidents. What's driving rates there?

 

Americans are being gouged by the insurance racket too. That's what happens when you mandate people buy goods and services. The racketeers can get away with charging whatever they want. But I guess someone had to pay for Larry Silverstein's double indemnity insurance policy that covered acts of terrorism that he bought just 4 weeks before 9-11.

 

Just checked my policy -- premium went up 20% (paid this month) from last year on coverage for 4 vehicles. No change in coverage and no claims filed over the past 4 years, except for windshield replacement on my G550. Insurance covered all its $3400 cost, so I can't complain. On the G550, premium is about $1200/year -- coverage is $1M/$500K/$100K liability, $1K deductible comp, full glass, and no collision (truck's paid for).

 

It is a worldwide issue, Canada all got higher premiums, that said auto theft is a very real here.

 

I am with Admiral for third year now, I paid around 2.5K £ previous year, full compensation, indeed it went up by a lot since I was paying 2.2K. I got a quote for this year at 2.7K £, but still it is the cheapest I found (no black box installed and parked in private garage).

 

It's not as if insurers are going to be adding 20% to their bottom line. If anyone believes this, dump your Bitcoin and buy Geico.
Thefts and car-jackings are up. Hit and runs are up. DUIs are up (thanks to pot legalization). Distracted driving is up. Aggressive driving and road rage are up.
The only drop is in prosecutions thanks to hug-a-thug DAs.
We're doing this to ourselves folks.

 

I work in this world and can tell you that its as much about macro economics as it is about anything else....the large factors are inflation (cost of parts up, harder/longer to get the parts with supply chain, car stays longer at the bodyshop because shop owners had to cut back on staff, you keep you rental longer etc) and larger/more often storms that rip through multiple states (hail/wind damage/water etc) - these obviously effect both your home and auto premiums.....