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Why has our car insurance increased by such a huge amount?
For some time I have had a multi car policy with LV which covers a new Toyota Yaris Excel in my name and a Toyota IQ in my wife's. I am 81 and my wife is 80, but we both have maximum no claims bonus and no traffic offences. My wife's mileage each year is only a little over 1000 miles and we have recently fitted front and rear dash-cams. My car has every conceivable safety aid including factory fitted front and rear dash cams. My mileage is unlikely to exceed 3000 miles a year, and we have have our 3 three children as named drivers.
Two years ago we were paying £400+ for both cars which rose to £700+ this year. I understand there have been significant cost increases so accepted that. However, my advance notice for renewal has come through at £1100+ for the next twelve months and this seems really excessive. I have tried firms such as the NFU, but they won't quote for over eighties. Do you have any advice please?
Two years ago we were paying £400+ for both cars which rose to £700+ this year. I understand there have been significant cost increases so accepted that. However, my advance notice for renewal has come through at £1100+ for the next twelve months and this seems really excessive. I have tried firms such as the NFU, but they won't quote for over eighties. Do you have any advice please?
Asked on 27 January 2025 by

Thank you for your message. Car insurance costs in the UK have increased by 33% on average over the last 2 years so that would have contributed to your higher premium.
If you would like to stick with an annual policy, then we’d always encourage people to shop around using a price comparison site. Each insurer assesses risk differently, and therefore you could find an insurer that is willing to offer you insurance, at a better price. The benefit of price comparison sites is that they compare prices from different insurers, and you’ll be able to see all available quotes in one place to be able to compare prices and find a policy that best meets your needs.
With such low annual mileage, there are other solutions for drivers like yourself who don’t need to use their car that often, such as pay-as-you-go insurance or temporary insurance. This means you’ll only be paying for the mileage you are doing, and could work out a more cost-effective option.
If you would like to stick with an annual policy, then we’d always encourage people to shop around using a price comparison site. Each insurer assesses risk differently, and therefore you could find an insurer that is willing to offer you insurance, at a better price. The benefit of price comparison sites is that they compare prices from different insurers, and you’ll be able to see all available quotes in one place to be able to compare prices and find a policy that best meets your needs.
With such low annual mileage, there are other solutions for drivers like yourself who don’t need to use their car that often, such as pay-as-you-go insurance or temporary insurance. This means you’ll only be paying for the mileage you are doing, and could work out a more cost-effective option.
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insurance
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