How to loose £700 on car insurance

Few months ago I've written a story how I saved £100 on my car insurance. Back then I thought it was a big achievement to reduce it to £376.10 and that £470 for car insurance was a lot. It was definitely too much for me then.

But now it is time to face a reality. Brutal reality of living in the capital city.

I'm moving to London and called my insurer - elephant.co.uk - to update my address. They quoted me to pay additional £123 for remaining 3 months. I was outraged. But not for long.

I run a quick search on a comparison site and was gobsmacked. The cheapest car insurance for my new postcode was £1089.99 from company I've never heard of - Ednsleigh. The offer from my current insurer Elephant was £1308.49. Not to mention that already I've earned another year of no claim bonus and heavily reduced annual mileage. So in theory I should pay less.

Just by moving to London my car insurance premium will increase by 348% if I stay with Elephant. Or "only" by 290% if I switch to the cheapest one. Nothing funny, really.

Of course when the time comes I'll do another research to find the cheapest deal. Or maybe I'll just sell the car. It is not really worth paying 50% of its value as insurance premium per year.