My Admiral Multi Policy is up for renewal. Covers MX5 Mk4, 1993 Eunos (Agreed Value) the House & Contents and the Flat Contents only.
Last Year : £ 665
This Year : £ 1012
Clean Renewal
Ha ha ha ha.
Quote
Admiral sheds 380,000 customers as car insurance costs rise
MELISSA LAWFORD Telegraph
ADMIRAL’S car insurance business has lost 380,000 customers after a steep rise in its premiums.
The number of vehicles insured with Admiral fell by 7pc to 5.14m in the six months to June, as motorists rebelled against prices rising by a fifth. Yet, despite the exodus, Admiral’s profits for its UK car insurance division still rose by 3pc to £298.2m, according to the group’s half-year results yesterday.
The insurer said it increased prices by 20pc during the first half of the year, which was higher than its competitors.
It said this was to reflect “continued high claims inflation”, but added that the gap between its price increases and the wider market is now narrowing.
All insurance renewals have risen hugely, so you might want to make sure that you can beat that renewal quote before you say that they have lost another customer!
(Our 2-car policy with LV= has gone from £429 to £625, and I’m still waiting to hear about house/contents which is due shortly. MX-5 - modified, so LV= won’t insure it - was £535 with Greenlight, but that’s not due again until February).
Mine went up £185.29 with Admiral, (after some negotiation on the phone). For two cars and house contents/building etc.
Still cheaper than with all the others like for like though.
3 cars and 1 house for us, £2k last year of which £1k was 18yr old son’s policy. £2.5k renewal just come through. We swapped wife’s CRV for an M240i so that accounts for the increase. Son’s premium dropped to £900.
Not too bad methinks as a starter for negotiations.
For me, Saga last year was £195 (5,000 miles, I’m 71) this year’s renewal was £384. I phoned and was offered a “Loyalty Bonus” knocking off £40. So only up to £344 from £195 for my loyalty, what a bloody insult.
One quote, Direct Line, albeit with an extra £100 voluntary excess, £199.
Wife and I have a multi car policy with QuoteMeHappy (basically Aviva online). She had a messy no fault claim that was resolved before our renewal date and her premium has gone up by about £30 and mine by £20. I’ve changed my car and the renewal on the new car was around £200 cheaper than anything on the comparison sites. Very happy this year. In fact we haven’t changed insurers for the last 3 years as they are the best.
Negotiated Daisy on Agreed Value, Fully Comp, 3000 miles, retain salvage, Euro cover for £95 with different insurer / Go Compare and earned £20 of Shell petrol vouchers.
Admiral came down to £718 with some upgraded policy coverage on house covers.
Overall, not too bad a result, “saved” £200-ish by a few hours work. Shame Admiral couldn’t have just done a better job before sending me the invite, as they said on the phone, I’ve been with them for 7 years so “let’s see what we can do for you”
Not looking forward to my renewals, in another 2 months going on this thread.
Admiral multi car and home policies.
Every renewal it’s a fight on price but they want to alter the policy, like mileage (lower) increase excess. When it’s all done and agreed they mess the policies by putting stuff on there I’ve not agreed to.
It’s a move away this time, I can feel it, after 4 reasonably happy years.
Lets face it, with the exception of one or two companies, the insurance companies take us all for mugs, particularly when it comes to car insurance. A short while ago, I moved house, the insurance company said that, as I had moved to an area with a higher crime risk, my premium had to rise accordingly. Three months later, the reason for my move having not worked out, I returned to the original location, not just the aea, but the actual same address. Guess what, the insurance company said that as I had moved to an area with a higher crime rate my premium had to incease. Lets just say that I told them where to stick their policy and changed my provider.
Most motor insurers made a loss in their last full financial year. You’re not being ripped off. Repair and hire car costs have shot up, and you’re also paying for all the damage caused by those uninsured, unlicensed, untaxed drivers.
To a degree yes.
Admiral made a CLEAR profit of £469 million in the 2022 financial year.
Agreed, down from the previous year, (but hey ho it’s still a lot of profit) but not too sure your argument will hold much depth of water for the people that use them.
The more people they put off with high premiums the more will go else where and the slippery slope begins.
Loyalty, hmmm that’s not particularly true with any of them from my experiences over the decades.
They also STILL owe me my excess that I have been fighting for from last September!
ALL the insurance companies pay into an uninsured driver pot, (Motor Insurers’ Bureau) and have done for decades, (1946 to be precise) so nothing new there.
Just an opinion. https://www.admiralgroup.co.uk/news-releases/news-release-details/admiral-group-plc-reports-resilient-2022-full-year-results-0
Well, for what it’s worth, 20 mins on the phone with the renewal team and got it reduced to just under £2k which beats nearest equivalent by about £200. Very happy with that and saves all the pfaff that comes with switching insurers.
You missed out the eye watering cost of repairing/writing off EV’s.
Nevertheless, I weep for motor insurance companies. Let’s all go classic cars, third party insurance and watch them have to redesign their industry from scratch.
Legal fees. Another rip-off. Claiming for “whiplash” doesn’t seem so clever now, does it? We’ve paid it back ten times over
