There have been dire warnings of the effects that the new legislation might have on insurance renewal costs post the start of the new year.
I have two policies up for renewal in the next month, both with the same insurer on a "multicar" basis.
The first renewal notice has just come through (for the Volvo). The last payment was only part-year (and actually a rebate, reflecting, I thought, mostly the removal of breakdown cover, given the new car warranty), so the calculations are a bit iffy, but the insurer has quoted what would have been the full-year cost last year for the Volvo, and it looks convincing (lower than the BMW by a small amount).
There are no other changes that should have a significant effect on the price (one year's extra NCB, but that is high anyway) and the renewal cost is c17% lower than the calculated value for last year. So much for all the scare stories.
(Obviously, insurance background varies dramatically between individuals and location, but I don't think £184 p.a. is bad for a new, reasonably powerful, £40k car).
|
