[RahulNagaraj]

According to a report, car insurance costs in the UK have increased by a staggering 58% compared to the same period last year. Reports state that a comprehensive car insurance policy, which was 336 GBP in 2022, now costs 995 GBP.

The report states that one of the reasons for the rising car insurance costs is the increasing number of vehicles. The rise in the number of vehicles since the pandemic has also increased the number of accidents, which further increased the number of insurance claims.



In addition to this, newer cars are also more costly to repair thanks to the expensive technology and equipment they come loaded with. This has led to an increase in the cost of parts & labour, which have adversely affected the insurance costs as well.

Louise Thomas, a motor insurance expert, stated, "With prices up on average £148 (19%) in just 3 months, and £338 (58%) in 12 months, drivers are likely to be paying more than ever. So those who haven’t yet been affected should be wary of how pricing may affect them at their next renewal."

In the UK, insurance costs also vary based on location, age and gender. Drivers in London pay more than those outside. Young drivers are the worst hit, with an 18-year-old having to shell out 3,162 GBP - triple the national average and an 84% increase over last year's costs. Men pay higher insurance costs compared to women.

Source: Confused.com

Link to Team-BHP news

[navjon]

Here in the U.A.E, I am paying higher premium year by year for my ageing two cars. During renewal, the agents are least interested to negotiate on no claim bonus. It is like a take it or leave attitude from them. Approaching other providers has been also in vain as they start at 3 steps above.

[Starfire]

Funny story which may have not be unknown to many but definitely new to me. A friend of mine who had just shifted to London from Bangalore bought a 2015 X3 20d on his Indian international license and paid around £900 for his comprehensive insurance despite being married and in his late 30’s (yes marriage and age does reduce your insurance premium). Fair enough but a year later when he he got his UK driving license and renewed his insurance, his premium increased to £1800 since he was now classified as an “inexperienced UK driving license holder” rather than an “experienced international license holder”

So yes, even though he had been driving for the past 20 years in India (which didn’t matter anymore), and had no claim what so ever in his first year of insurance in the UK, he still had to shed double of what he had initially paid on same car despite it having depreciated by a whole year!

My advice to anyone planning to relocate to the UK, make sure to initially buy a 2nd hand smaller car and keep it for a couple of years until your UK driving license becomes at-least 24 months old after which your insurance premiums drop significantly.

On a lighter note, get married and select your profession wisely cause that affects the rates too (PS - Serious about the profession part though)

Picture Source - https://www.essexlive.news/news/uk-w...st-car-4760171

[Janus]

Imagine, if insurers in India bring the same rules by charging premium based on the Age of the driver, how long a driving license was held and linked to the type of vehicle (New/Used) (Entry/Premium).

Our Accidents will reduce drastically.

In India, currently premiums are charged based on the value of the vehicle, irrespective, if the driver is an young inexperienced college going kid or someone at the age of 40 and married with kids.

In UK, insurance can be denied if the insurance has parent's name listed as their primary driver when their kids are the ones who have been driving most of the time.

It's high time we bring in Driver and License based premiums in India rather than simply charging based on the value of the vehicle. Also Insurance should list the list of Drivers authorised to drive the vehicle (Primary/Secondary).

[Redex]

Originally Posted by Starfire

Funny story which may have not be unknown to many but definitely new to me. A friend of mine who had just shifted to London from Bangalore bought a 2015 X3 20d on his Indian international license and paid around £900 for his comprehensive insurance despite being married and in his late 30’s (yes marriage and age does reduce your insurance premium). Fair enough but a year later when he he got his UK driving license and renewed his insurance, his premium increased to £1800 since he was now classified as an “inexperienced UK driving license holder” rather than an “experienced international license holder”

So yes, even though he had been driving for the past 20 years in India (which didn’t matter anymore), and had no claim what so ever in his first year of insurance in the UK, he still had to shed double of what he had initially paid on same car despite it having depreciated by a whole year!

My advice to anyone planning to relocate to the UK, make sure to initially buy a 2nd hand smaller car and keep it for a couple of years until your UK driving license becomes at-least 24 months old after which your insurance premiums drop significantly.

On a lighter note, get married and select your profession wisely cause that affects the rates too (PS - Serious about the profession part though)

Picture Source - https://www.essexlive.news/news/uk-w...st-car-4760171

Hi,
There is no such thing as an "Indian International Driving Licence". You can use your Indian Driving Licence for 1 year in the U.K. After that you will have to apply for a Provisional U.K. Licence then take your "Driving Test" to gain a Full U.K. licence.

An IDP International Driving Permit is not a legal document. The IDP is just a translation of your own countries Driving Licence. Both the IDP and your driving licence are usually shown at the same time when asked by a Police Offical.

An Indian National does not need an IDP to drive in the UK, nor does anyone who holds a photo driving licence which is already printed in English. India doesn't show the U.K. the same courtesy and I have to buy an IDP. I also have to get an Indian Driving Licence if I stay in India for longer than 12 months. Not possible anyway as we are only allowed 180 days on our visas, but that's another point entirely.

I fully understand the frustration of being treated as a new driver after you qualify for your UK licence. However you will then "understand" why previous experience is not accepted. We have much stricter enforcement of road rules and expect a much higher standard of driving. You gain experience and your insurance premium goes down if you obey the rules and drive safely, only fair.

The hype about premiums sky rocketting is just click bait. I don't know anyone who has to pay a greatly inflated insurance premium, maybe I just know good drivers. I get 60% discount as I have been claim free and hold a "clean" licence.