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ChrisKnottIns

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 Brexitís 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
pjbRs

Odd one my renewal was £28 less then last year with admiral.

Maybe nobody told them the bad news. 😂
AudiRS4V8

bbc breakfast news just said it was £484 up 11% so not the £800+ you suggested?
ChrisKnottIns

AudiRS4V8 wrote:
bbc breakfast news just said it was £484 up 11% so not the £800+ you suggested?


Here's the report I've quoted -
http://www.insuranceage.co.uk/ins...-rise-to-highest-level-since-2010

You can see enough to substantiate the figures I've quoted.
ChrisKnottIns

pjbRs wrote:
Odd one my renewal was £28 less then last year with admiral.

Maybe nobody told them the bad news. <span class="emoji-outer emoji-sizer"><span class="emoji-inner" style="background: url(chrome-extension://immhpnclomdloikkpcefncmfgjbkojmh/emoji-data/sheet_apple_64.png);background-position:45.833333333333336% 72.91666666666667%;background-size:4900%" data-codepoints="1f602"></span></span>


Emphasis on the word average.
AudiRS4V8

ChrisKnottIns wrote:
AudiRS4V8 wrote:
bbc breakfast news just said it was £484 up 11% so not the £800+ you suggested?


Here's the report I've quoted -
http://www.insuranceage.co.uk/ins...-rise-to-highest-level-since-2010

You can see enough to substantiate the figures I've quoted.


im sure thats fair enough if i coud be bothered to read it, but im just quoting what was on BBC breakfast news this morning
ChrisKnottIns

AudiRS4V8 wrote:
ChrisKnottIns wrote:
AudiRS4V8 wrote:
bbc breakfast news just said it was £484 up 11% so not the £800+ you suggested?


Here's the report I've quoted -
http://www.insuranceage.co.uk/ins...-rise-to-highest-level-since-2010

You can see enough to substantiate the figures I've quoted.


im sure thats fair enough if i coud be bothered to read it, but im just quoting what was on BBC breakfast news this morning


It's one paragraph in the industry press. It's there for others to read who may be following/interested.
AudiRS4V8

fair enough  
madmax2

I dont want to argue with a valued Insurer, but I do want to ask clarification on one point if I may

I understand modern cars have cameras and all sorts of sensors in the bumpers, which puts repair costs higher. Thats your point #4.

I also understand when I want insurance you require details and specifics such as *my* car, my *work*, my mileage, my NCD etc, so as to generate and quote me on my risk profile.

My car doesnt have cameras in the bumpers, nor sensors.
If some other numpty buys a car equipped with such and crashes it, evaluate them on their risk profile and charge them accordingly please. Thats the point of this..leave me alone, its not my business, nor my concern how much their car costs to fix for you. If you misquote them, or charge them less and charge me more to make up the shortfall then I feel offended paying for their issues Thank you. Please evaluate *my* risk profile based on the information you ask me to give you
ChrisKnottIns

madmax2 wrote:
Thats your point #4.


It's not my point, it's what the report cited as one of the reasons.

Also, we're brokers so we're not setting rates, we're trying to find you the best quote that's out there.
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