Insurance renewal - how much more this year?

[metcars 397]

I appreciate this is subjective but i've just been offered renewal of my Tradewise insurance with a 30% increase, sounds like a negotiating point to me? How have you guys found it this year?

[MattR 177]

mine went up, but by about 7%, and that was a renewal at the end of June. Maybe time to get shopping around?

[metcars 397]

20 minutes ago, Matt Reid said:

mine went up, but by about 7%, and that was a renewal at the end of June. Maybe time to get shopping around?

I'm already on the case! I've not heard of any recent changes to IPT or any other stealth charges that could be used as an excuse, have you?

And my postcode and history haven't changed in the last year other than being another year older!

Edited August 14, 2018 by met

[MattR 177]

Not aware of any IPT etc changes. And theyre only ever 2-3 %.

[grant8064 219]

Ours went down. Fourth trading year with no claims and shortened the age bracket for un-accompanied test drives.

[It's me 615]

mine went up nearly 24% in may, no claims no nuuting, but i did get older and i put it down to that

im with lv

[Del Boy 76]

Mine went up too. But then again I did scratch someone’s bumper in Feb and they claimed against my insurance company for over £1800. 

[trade vet 702]

I often hear of traders being insured by Tradewise and I have often wondered who Tradwise are or who owns them.From what I can see they are mainly Road Risk Only insurers.You would expect insurance companies to be large asset backed corporations,however unless I am mistaken this does not appear to apply to Tradewise,it must be very basic cover.......I will stick with Aviva or Norwich Union as it was previously called and pay the extra premium.

[metcars 397]

34 minutes ago, mrs maybe said:

mine went up nearly 24% in may, no claims no nuuting, but i did get older and i put it down to that

im with lv

I used to think getting older was an advantage but it appears not. There is a 'sweet spot' age wise, or at least as far as insurance companies are concerned. Although the guy at bollingtons seemed keen for my business. Even after i pointed out that he'd make more money out of a young 'jazzer' with 9 points and a front full of Bmw's?

1 minute ago, trade vet said:

I often hear of traders being insured by Tradewise and I have often wondered who Tradwise are or who owns them.From what I can see they are mainly Road Risk Only insurers.You would expect insurance companies to be large asset backed corporations,however unless I am mistaken this does not appear to apply to Tradewise,it must be very basic cover.......I will stick with Aviva or Norwich Union as it was previously called and pay the extra premium.

You could be right. I don't have a huge 'want/need' list with an insurer so its mostly down to price? I've been with tradewise for years so i don't know what i'm missing.