Why is my car insurance premium increasing in 2011?
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I did not have a car accident nor car violation in 2010. What else could cause an increase?
financemum
1 year ago
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
all insurance contracts generally change in cost due to ongoing claims and admin costs and the rise in cost of replacement goods ie car prices increasing, garage rates increasing.
it has never been a case of individual underwriting for pricing a policy that is why its seldom the case that you will pay the same year after year even with no change to your record (except for your age).
even the old notion that insurance becomes cheaper when you reach, 18 then 25 then 30 etc is a nonsense!
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it has never been a case of individual underwriting for pricing a policy that is why its seldom the case that you will pay the same year after year even with no change to your record (except for your age).
even the old notion that insurance becomes cheaper when you reach, 18 then 25 then 30 etc is a nonsense!
