Announcement

Collapse
No announcement yet.

Insurance. Computer it say No.

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Insurance. Computer it say No.


  • #2
    *******!
    Please contact me via PM if you would like to transfer your AllCorsa Gold Membership over to our VIP Membership. It's completely free to do so.

    Comment


    • #3
      Because the personal injury claims culture plus hire car costs adds a massive amount to british insurance
      Originally posted by Dave
      Originally posted by Stephen Fry
      [B]"It's now very common to hear people say, 'I'm rather offended by that.' As if that gives them certain rights. It's actually nothing more... than a whine. 'I find that offensive.' It has no meaning; it has no purpose; it has no reason to be respected as a phrase. 'I am offended by that.' Well, so ****ing what."

      Comment


      • #4
        They seem to have a cosy relationship with repairers as well. I think insurance should be much more based on equal risk spread over every one.Win a few,loose a few.It seems insurers in Bulgaria are quite happy to asses their risk and a profit margin based on 4% of the value of cars they cover.The basic third party is actually a government pool,treating every one equally ,although larger cars pay more. As soon as they start cherry picking and bumping up premiums based on age, occupation,location etc, or house insurance based on how likely you are to be flooded or burgled things go to pot .Admin costs go up because there are so many variables.A corsa costs this much.End of story. It all balances out in the end and they make a profit. Simple. Those fortunate enough to be considered low risk (and I count myself here) should simply accept their premium may go up slightly.Its probably not going to be much more. If they dont like it they can buy a beige Micra instead of a Corsa,as its less attractive to young drivers and may have a lower premium.

        Another reason for high costs in the uk is the 'Lloyds name' system. Rich gits agree to guarantee an insurance underwriter that they will pay up x thousand quid if more claims are made than are collected in premiums .They earn interest on the amount they guarantee, but crucially they dont actually have to pay any money over unless things go pear shaped. They keep their money and invest it elsewhere as well. Very occasionally the poor mites have to cough up some of their cash.

        I seem to remember that a few years ago one underwriter did introduce a same price for all policy.Teenage ferrari drivers flocked to them,grannies with hearing aid beige micras found a better deal elsewhere with free nodding bulldog. the result was inevitable. It needs to be industry wide to work.
        Last edited by Bugman; 15-02-2015, 10:15 AM.

        Comment


        • #5
          I think you have a bit of a misunderstanding of the lloyds market and also seem to not like people making a profit
          Originally posted by Dave
          Originally posted by Stephen Fry
          [B]"It's now very common to hear people say, 'I'm rather offended by that.' As if that gives them certain rights. It's actually nothing more... than a whine. 'I find that offensive.' It has no meaning; it has no purpose; it has no reason to be respected as a phrase. 'I am offended by that.' Well, so ****ing what."

          Comment


          • #6
            Sorry.I have gone over the top and have been unfair to LLoyds ,whos main business can involve incredibly large losses and they dont really do motor insurance. I really dont object to individuals and institutions making a fair profit if they put money at risk. After all they can lose the lot. I'm just a bit jealous I cant get an income on the same cash twice!I was on a bit of a rant.
            But I do still feel that the uk Insurance industry should be simplified and the risk spread more widely and fairly. They spend far too much time and money cherry picking out the safest risks with the result the rest end up with ridiculously high premiums they cannot afford,or refused cover or are tempted to be economical with the truth.Then a whole new procedure starts of scrutinising every claim to see if they can refuse to payout due to a breach of a clause.
            I know I am being naive. If you put your money at risk you are entitled to minimise that risk and maximise return.

            The Bulgarian system has its advantages. The car is insured.for the legal minimum and when its sold the insurance goes with it. If you buy a car it usually comes with insurance. Its administered by the private insurance companies ,who presumably take a fee for admin and may bear some risk, but a portion goes into a government fund, which spreads the risk equally. I am not normally an advocate of government control,but it makes sense to have the basic minimum cover enshrined collectively.

            Its got a bit heavy. I wont be offended if you pull the plug on the whole thread.
            Last edited by Bugman; 15-02-2015, 04:18 PM.

            Comment


            • #7
              Originally posted by Dave
              Originally posted by Stephen Fry
              [B]"It's now very common to hear people say, 'I'm rather offended by that.' As if that gives them certain rights. It's actually nothing more... than a whine. 'I find that offensive.' It has no meaning; it has no purpose; it has no reason to be respected as a phrase. 'I am offended by that.' Well, so ****ing what."

              Comment


              • #8
                Yeah, i'm really sorry about the Lloyds bit.I was trying for light hearted humour and failed utterly. There are too many snouts in the trough, and its not all the insurance industries fault. But some individuals in the industry have let the side down by actively selling information to personal injury claims lawyers and insisting on approved repairers etc.

                Comment


                • #9
                  Approved repairers are what bump the price up loads, they charge extortionate amounts just because they can

                  Just one example of this, I rang a local one up to spray a front wing from a mk5 astra which was new and ready to be painted etc

                  Cheapest quote I got was around 30quid
                  Average was about 50quid to spray it as it was off the car etc

                  But the approved repairer wanted 180+ vat

                  Comment


                  • #10
                    Originally posted by Dave
                    Originally posted by Stephen Fry
                    [B]"It's now very common to hear people say, 'I'm rather offended by that.' As if that gives them certain rights. It's actually nothing more... than a whine. 'I find that offensive.' It has no meaning; it has no purpose; it has no reason to be respected as a phrase. 'I am offended by that.' Well, so ****ing what."

                    Comment


                    • #11
                      Not sure ' shortsighted' is the word I would use. I cant see how taking a bonus for inviting lawyers to make even larger claims keeps our premiums down.They may even earn extra commission when the premiums inevitably rise.I suppose they justify it to themselves on the basis they are assisting policy holders get the best possible deal compensation wise. And I suppose you could argue "I was entitled to more and you bar stewards kept quiet to save yourselves money" We are stuck with the consequences.
                      To be fair most in the industry are doing a decent job and other business sectors have similar dubious practices.

                      I can see the point of approved repairers.It reduces the chance of fraudulent claims and so there is less need for expensive inspections. But considering the volume of work they are financing I would expect them to get a trade price,not a higher one. How does this help premiums? Is it just a paper figure and they actually pay less. Does it increase the number of 'write offs' and aid other motor trade sectors? Theres probably more to it than I realise.


                      If any have been worried I got the insurance ok today. I even got a free calendar.Shame it was for 2014 but its the thought thats counts.
                      Last edited by Bugman; 16-02-2015, 02:58 PM.

                      Comment

                      Working...
                      X