car insurance difference

[samt1985]

I recently bought a new Ford KA after my old KA was written off a few months back. The old one was 12 years old and in very good condition, apart from that there are not really any differences between the old and new. so can any1 explain to me why my annual car insurance for the new 1 is almost double what i paid for the old 1?

[gouldc]

Many variables:

1. You've had an accident - if it was your fault, your no-claims bonus has reduced (assuming you had any), and this coupled with the cost of the accident will increase your premium.
2. If it wasn't your fault, statistics show (apparently) that if you are involved in a non-fault accident, you're more likely to cause an accident within the next few months
3. Is your new car newer than the one that was written off, a higher spec model, etc - this will have an affect on your premium

This is obvously not considering whether you've got any convictions, where you live, age, etc as all these factors will play a part in the premium.

[kendunlop]

Another variable which many aren't aware of. If it was your fault, then gouldc is probably right. If you are claimng off someone elses policy, your ncb is affected until the other company pays up and then you get your ncb re-instated. Therefore if it was someone elses fault and you had 4 years ncb, it would drop to 2 years ncb and only re-instated to 5 (4 +1) when the other insurer accepted liability and re-imbursed your own insurance company. 5yre ncb is usually 70% discount and 2 years around 45% so can be quite a difference.