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WorkingForTheMan

Car Insruance

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I just got a quote for a 1.6L peugeot. I am in my 30's. I have 3 years no claims. The cheapest (on confused.com) was £1200!!!!

Thinking there must surely be some mistake, I found a ONE LITRE car on ebay, and stuck the reg in. The quote was £900!!

what on earth is going on!? Thats more than I paid for my first ever car! Changing to 3rd party just puts the premium up! The peugeot was just a stop gap, I wanted to buy a flashier car later this year, but theres no chance at these prices! Am I doomed to public transport?

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Insurers have been losing money hand over fist...

Trevor a friend of mine told us about it.

Insurance companies don't keep a fund anymore to indemnify people they invest it. Since almost everything has given lousy returns due to ZIRP and other factors. They have to put their prices up.

Also whenever anybody claims on insurance its gouging time, insurance approved repair centres charge a fortune for ANY work done. They see insurance job and $$$$$s appear in their eyes. They you get spurious injury claims, then you get rental cars.

An insurance claim can very quickly spiral out of control since all parties gouge the insurer being seen as a source of free cash.

For instance when a woman hit my mates bike, he said pay up or we'll go through insurance, he was and is an excellent mechanic and bike painter. Costed up with no labour it was a £360 repair. She though bikes were cheap to repair and thought he was ripping her off. She refused and went through insurance, apparently the repair bill for the work came out at £2.3K and the insurers wanted to write the bike off.

Insurance job rental cars are obsene rates, £100-300 a day is not uncommon, insurance claims can take a very long time especially when there is a dispute.

So imagine an insurance job:

£2300 for minor repairs

£5000 for the personal injury claim

£5000 for rental car.

And with that you've probably wiped out the profit from 50-100 drivers who haven't claimed.

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Insurers have been losing money hand over fist...

Trevor a friend of mine told us about it.

Insurance companies don't keep a fund anymore to indemnify people they invest it. Since almost everything has given lousy returns due to ZIRP and other factors. They have to put their prices up.

Also whenever anybody claims on insurance its gouging time, insurance approved repair centres charge a fortune for ANY work done. They see insurance job and $$$s appear in their eyes. They you get spurious injury claims, then you get rental cars.

An insurance claim can very quickly spiral out of control since all parties gouge the insurer being seen as a source of free cash.

For instance when a woman hit my mates bike, he said pay up or we'll go through insurance, he was and is an excellent mechanic and bike painter. Costed up with no labour it was a £360 repair. She though bikes were cheap to repair and thought he was ripping her off. She refused and went through insurance, apparently the repair bill for the work came out at £2.3K and the insurers wanted to write the bike off.

Insurance job rental cars are obsene rates, £100-300 a day is not uncommon, insurance claims can take a very long time especially when there is a dispute.

So imagine an insurance job:

£2300 for minor repairs

£5000 for the personal injury claim

£5000 for rental car.

And with that you've probably wiped out the profit from 50-100 drivers who haven't claimed.

Interesting, then, that the insurance companies are the ones who sell on the names and addresses of people who have accidents to the ambulance chasing claims companies.:blink:

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I just got a quote for a 1.6L peugeot. I am in my 30's. I have 3 years no claims. The cheapest (on confused.com) was £1200!!!!

Thinking there must surely be some mistake, I found a ONE LITRE car on ebay, and stuck the reg in. The quote was £900!!

what on earth is going on!? Thats more than I paid for my first ever car! Changing to 3rd party just puts the premium up! The peugeot was just a stop gap, I wanted to buy a flashier car later this year, but theres no chance at these prices! Am I doomed to public transport?

The soaring cost of car insurance is due to fraud and uninsured drivers.

And if you look at who is largely doing the fraud and who is largely driving with no tax, MOT or insurance you will immediately spot a pattern.

The powers that be could easily do something about this, but

certain sections of the community are apparently above the law and the rest of us are having to pay the price.

:angry:

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Make sure you don't include unwanted bells and whistles when you use comparison sites. I have found it is difficult to compare "like with like" when using these sites, you may find you get a better deal if you approach a company direct. (Some companies, eg Direct Line, don't appear on comparison sites.)

You might also find it worthwhile talking to a High Street broker.

Good Luck !

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certain sections of the community are apparently above the law and the rest of us are having to pay the price.

:angry:

You're kidding right? My dad was stopped regularly by cops through the 1960s-00s. Cops would simply stop him and say his car looked stolen. They would then ask for a producer to further inconvenience him. I've told this story before but my dad was stopped for a vehicle check while bringing his NEW car home from the garage. They wanted to 'check it over for defects'. Just because you don't see it does not mean it does not happen.

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The soaring cost of car insurance is due to fraud and uninsured drivers.

And if you look at who is largely doing the fraud and who is largely driving with no tax, MOT or insurance you will immediately spot a pattern.

The powers that be could easily do something about this, but

certain sections of the community are apparently above the law and the rest of us are having to pay the price.

:angry:

I really doubt that - pretty sure that's a constant built into their business model.

I imagine it's really about premiums having to fund other loss-making parts of their business.

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Lowering mileage can also make a bit of a dent in the quote...I renewed a couple of months ago, and I halved the mileage from 12,000 to 6,000 (I don't have to travel miles for work any more) and it brought it down by 50 quid...

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You're kidding right? My dad was stopped regularly by cops through the 1960s-00s. Cops would simply stop him and say his car looked stolen. They would then ask for a producer to further inconvenience him. I've told this story before but my dad was stopped for a vehicle check while bringing his NEW car home from the garage. They wanted to 'check it over for defects'. Just because you don't see it does not mean it does not happen.

Your dad must have pissed them off in some way or other. Back then a blind eye was turned towards officers who wanted to conduct a bit of a vendetta against someone.

Going back a fair bit but my uncle was hauled in front of the mags for something or other driving related. He pleaded not guilty and the PC who nicked him entered the box.His brief snagged the PC up in his line of questioning and made him look like a right Charlie, resulting in a not guilty. Some Months later his motor insurance expired and he wasn't in a hurry to renew it. He got a call late one night to do a late booking at a club (he was a musician) and as soon as he turned into the street where this club was situated plod pounced can caught him driving without insurance, it was the same PC who charged him. Turned out there was no booking at the club and the call was a bogus one to get him into his car as they knew his insurance had expired and they wanted (and got) a watertight case.

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My quote seems largely unchanged, and that with what might be considered prestige car, basically about £700 for a 4.2 FSi Audi A8.#

I reckon it must be your area. Perhaps lots of claims for theft in the vicinity.

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I just got a quote for a 1.6L peugeot. I am in my 30's. I have 3 years no claims. The cheapest (on confused.com) was £1200!!!!

Thinking there must surely be some mistake, I found a ONE LITRE car on ebay, and stuck the reg in. The quote was £900!!

what on earth is going on!? Thats more than I paid for my first ever car! Changing to 3rd party just puts the premium up! The peugeot was just a stop gap, I wanted to buy a flashier car later this year, but theres no chance at these prices! Am I doomed to public transport?

could be postcode or profession but more likely every man and his dog that has an accident being supplied a hire car and a solicitor with whiplash paperwork handy and physio's on the books.

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Don't the German's have a law saying you can't claim for whiplash if the accident happens <30mph or something?

How long before our insurers have a checkbox allowing you to waive the right to claim for whiplash in a low speed

"accident" ?

Oh feck, I have just given them an idea....

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Insurers have been losing money hand over fist...

Trevor a friend of mine told us about it.

Insurance companies don't keep a fund anymore to indemnify people they invest it. Since almost everything has given lousy returns due to ZIRP and other factors. They have to put their prices up.

Also whenever anybody claims on insurance its gouging time, insurance approved repair centres charge a fortune for ANY work done. They see insurance job and $$$$$s appear in their eyes. They you get spurious injury claims, then you get rental cars.

An insurance claim can very quickly spiral out of control since all parties gouge the insurer being seen as a source of free cash.

For instance when a woman hit my mates bike, he said pay up or we'll go through insurance, he was and is an excellent mechanic and bike painter. Costed up with no labour it was a £360 repair. She though bikes were cheap to repair and thought he was ripping her off. She refused and went through insurance, apparently the repair bill for the work came out at £2.3K and the insurers wanted to write the bike off.

Insurance job rental cars are obsene rates, £100-300 a day is not uncommon, insurance claims can take a very long time especially when there is a dispute.

So imagine an insurance job:

£2300 for minor repairs

£5000 for the personal injury claim

£5000 for rental car.

And with that you've probably wiped out the profit from 50-100 drivers who haven't claimed.

Spot on. The 'credit hire' scam, where the hire cars are given out for extended periods(repair work can be delayed to extend hire period) at exortionate rates, is a rip off.

'Accident Management Companies' are just gouging people. There appears to be little will in Parliament to stop this obvious scam.

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Spot on. The 'credit hire' scam, where the hire cars are given out for extended periods(repair work can be delayed to extend hire period) at exortionate rates, is a rip off.

'Accident Management Companies' are just gouging people. There appears to be little will in Parliament to stop this obvious scam.

Of course there is no will in parliament....7% ipt.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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