For drivers, 2017 has been a mixed bag when it comes to car insurance. If you’re up for the fight, it can be a tough challenge to score a cheaper insurance premium. So, do you feel like a car insurance winner or loser in 2017?
Arguably, never before have drivers been armed with a better arsenal for ensuring they get a competitive deal when it comes to car insurance. Yet for many, their premiums are now more expensive than ever – so what’s going on?
Car insurance
Back in February, insurers were required to start providing information on their websites about how their no-claims discount structure works. This change should help drivers work out whether paying an extra £60 or so for No Claims Discount Protection is actually worth it.
Then in April (and after no small amount of Which? campaigning on insurance renewals), it became compulsory for insurers to provide customers with a reminder of their previous year’s premium along with their renewal offer. This way, it should be easier to spot how much the premium has changed.
Besides these changes, finding a competitive quote can be done quickly using multiple comparison sites (although comparing cover can be trickier). At the very least, these comparison quotes give drivers a basis on which to haggle with their current insurer.
Insurance hikes
On the flipside, 2017 is looking like a year of severe increases for insurance premiums. As of today, Insurance Premium Tax has been notched up to 12% (from 10%) – having doubled over the past six years, raising three times in the past 24 months alone.
On top of that, recent legislation around how compensation payments are calculated is also affecting what drivers are charged – with estimated increases of 10% across this year on the average motor insurance premium, and larger hikes for younger drivers and those over 65.
According to the comparison website, Comparethemarket.com, the average annual car insurance policy will rise to about £800 for the first time on record – and could hit £1,000 by the end of next year.
Have you saved on your car insurance in 2017?
Yes - I saved by changing insurers (36%, 354 Votes)
No - my car insurance has gone up (33%, 324 Votes)
Yes - I haggled and saved money (32%, 314 Votes)
Total Voters: 992

So, have you noticed any unexpected increases in your premium, perhaps after a landmark birthday or completely out of the blue? Have you been driven to investigate the rest of the market after a big hike?