Cheap Insurance !

[les]

I came across an insurance policy that my dad took out. It was for a Morris saloon 10 hp 1939, the company was Anchor.
Price £5—16s—6d. The date——— 1957 !

[geoberni]

Interesting....
According to the Bank of England, £6 back then is £119:46 now.
£1 in 1951 would be £19:91 now.
But that is all rather 'academically' calculated using just annual monthly/inflation data, so not real world value in terms of the family budget.

What's really relevant is how much of your Dad's pay packet did it take.

If you use a website like https://www.measuringworth.com/calculators/ppoweruk/

There's a far wider range of values, from £149.40 to £598.30.
https://www.measuringworth.com/calculat ... esult=2023

So for example, to value it in terms of 'Labour Value', which is comparing it as how much of your Dad's pay packet it took, then it's £359.50...

[les]

Well I don’t know what the relationship was re his wages/premium but I take your point, when I started work I was paid £3 15s a week as an apprentice. So if it was my policy it would have been near a couple of weeks money.

[geoberni]

I was just, out of general interest, illustrating how so many different comparisons can be made, that's it's hard to get a real impression of the cost.
Take the original cost of the cars for example, in the 1950s the extra taxes were a huge percentage of the final cost.

When I left school, I went to work at the local Coop, while applying to join the RAF.

On joining the RAF as a trainee Aircraft Fitter (not that my eventual trade was relevant, because all trainees had the same 'trainee' rate of pay), my pay quadrupled in one go
That was a lot of Beer Chits!