New car and home insurance rules affecting renewals from 1st January 2022.

https://www.bbc.co.uk/news/business-59741141

Don't know about renewing, but transferring the insurance to the new motor in April was same premium price than last year.  Even though the car value was almost 3 times more than the old one sold.

Hey guys, I would appreciate it if you could reveal a few things to me because I can’t say everything was clear. I’m new to the US and the insurance system, so it was hard for me to choose one. I was on it for half and year, and then I saw better prices at deductibles for homeowners insurance

4 minutes ago, JarryPatyson said:

Hey guys, I would appreciate it if you could reveal a few things to me because I can’t say everything was clear. I’m new to the US and the insurance system, so it was hard for me to choose one. I was on it for half and year, and then I saw better prices at deductibles for homeowners insurance

Toyota Owners Club is UK based, and the legislation referred o in this topic relates to the UK.

On 7/28/2022 at 6:57 AM, JarryPatyson said:

Hey guys, I would appreciate it if you could reveal a few things to me because I can’t say everything was clear. I’m new to the US and the insurance system, so it was hard for me to choose one. I was on it for half and year, and then I saw better prices at deductible for homeowners insurance

I’m thinking of changing the insurance company for my house. Due to the article, it’s not the best idea. So what do you guys think? How do I pay less? Is it better to stay loyal to this company, even though its price is higher now?

On 12/30/2021 at 3:00 AM, FROSTYBALLS said:

https://www.bbc.co.uk/news/business-59741141

From what I have learned from this year’s premiums, this is another piece of worthless legislation.  One thing you can rely on, is a government that adopts new laws without a cat-in-hell’s chance of them working in practice.

Agreed. Insurance premiums and how to manage them to your financial advantage is one of the black arts. I have found that irrespective of the legislation there will be winners and losers - as `I get older, despite no claims, I seem to be moving into the latter category. 😪

Our combined house contents/buildings insurance is due for renewal. Phoned up to increase contents cover by 50% partly due to wife's mineral collection, and no other changes - premium dropped by £82.