|
Trader's Offers & Discounts A forum for discussing special offers that are available to VOC or Forum members. Commercial organisations must first seek permission to post details of products. |
Information |
|
UK's car insurance premiums on the rise again.Views : 2896 Replies : 27Users Viewing This Thread : |
|
Thread Tools | Display Modes |
Mar 17th, 2017, 14:33 | #11 |
Trader
Last Online: Jun 17th, 2024 13:29
Join Date: Oct 2010
Location: Hastings
|
Insurance is all about assessing the risk. How is it discrimination if a particular demographic consistently performs poorly? Answer me this - if it was your own personal money that had to pay for all claims how would you decide what to charge for a premium?
Wouldn't you start applying risk criteria quite quickly?
__________________
VOC Insurance is administered by Chris Knott Insurance Simply call the VOC dedicated quoteline on 0800 023 4374 for your free no-obligation quote and see how much you could save. |
Mar 17th, 2017, 15:20 | #12 |
Premier Member
Last Online: Today 16:23
Join Date: Apr 2011
Location: Belfast
|
I would have considerably more moral fibre than insurance companies, and therefore would never find myself in a position where I would be ripping people off. You cannot argue that insurance companies don't rip people off, otherwise they wouldn't be bragging about their immense profits. I don't see insurance companies offering rebates because of drops in risk. The risk criteria is undoubtedly discriminatory. How can you tell me that particular demographics perform poorly, and are therefore subject to increased premiums without admitting discrimination? Are insurance companies not aware of who the offenders are? Surely you're all in cohorts with each other to protect your 'investments'? Therefore you should be able to discriminate against those who actually cause the issues, rather than the innocent majority.
What about hiking peoples premiums due to non-fault accidents? How do you explain that one? People would be absolutely stupid to inform their insurance company about a non-fault accident, because it will inevitably lead to a black mark against them when it comes to renewal.
__________________
1996 850 T5 - Sold 2003 S40 1.9d - Sold 2004 S60 D5 |
Mar 17th, 2017, 16:56 | #13 | ||
Trader
Last Online: Jun 17th, 2024 13:29
Join Date: Oct 2010
Location: Hastings
|
Quote:
Quote:
Why don't you propose a foolproof model and we can examine it together?
__________________
VOC Insurance is administered by Chris Knott Insurance Simply call the VOC dedicated quoteline on 0800 023 4374 for your free no-obligation quote and see how much you could save. |
||
Mar 17th, 2017, 17:01 | #14 |
Premier Member
Last Online: Today 16:23
Join Date: Apr 2011
Location: Belfast
|
My proposal would be a government run insurance scheme, with price brackets for different vehicles based on performance and actual repair costs. Bring an element of equality back into the equation.
__________________
1996 850 T5 - Sold 2003 S40 1.9d - Sold 2004 S60 D5 |
Mar 17th, 2017, 17:03 | #15 |
Trader
Last Online: Jun 17th, 2024 13:29
Join Date: Oct 2010
Location: Hastings
|
Just spotted this comment too - that's also incorrect I'm afraid. It's a different route to market for insurers so they pay us commission OUT OF the premium rather than having to pay advertising for example - there's no extra cost. Indeed some insurers only deal via brokers.
__________________
VOC Insurance is administered by Chris Knott Insurance Simply call the VOC dedicated quoteline on 0800 023 4374 for your free no-obligation quote and see how much you could save. |
Mar 17th, 2017, 17:10 | #16 |
Trader
Last Online: Jun 17th, 2024 13:29
Join Date: Oct 2010
Location: Hastings
|
So you wouldn't differentiate between young, inexperienced drivers and older, experienced drivers for example?
__________________
VOC Insurance is administered by Chris Knott Insurance Simply call the VOC dedicated quoteline on 0800 023 4374 for your free no-obligation quote and see how much you could save. |
Mar 17th, 2017, 17:11 | #17 | |
Premier Member
Last Online: Today 16:23
Join Date: Apr 2011
Location: Belfast
|
Quote:
__________________
1996 850 T5 - Sold 2003 S40 1.9d - Sold 2004 S60 D5 |
|
Mar 17th, 2017, 17:16 | #18 |
Premier Member
Last Online: Today 16:23
Join Date: Apr 2011
Location: Belfast
|
No, because you don't have any proof of individual skill levels, particularly when it comes to hazard perception and reaction times.
__________________
1996 850 T5 - Sold 2003 S40 1.9d - Sold 2004 S60 D5 |
Mar 17th, 2017, 17:25 | #19 | |
Trader
Last Online: Jun 17th, 2024 13:29
Join Date: Oct 2010
Location: Hastings
|
Quote:
One in five newly qualified young drivers will have an accident within six months of passing their test, figures show. In 2015, while 17 to 19-year-old drivers made up only 1.5% of licence holders, they were involved in 12% of deaths or serious injury accidents. That's just a 2 year age bracket. In serious injury cases the compensation payouts are higher because they have a higher number of years of life expectancy ahead - care costs or loss of earnings are calculated for a longer period. I don't think you've yet proved you have a better model. I've only commented on the young driver risk. We can move onto mileage and use next if you like. Though it'll be Monday now.
__________________
VOC Insurance is administered by Chris Knott Insurance Simply call the VOC dedicated quoteline on 0800 023 4374 for your free no-obligation quote and see how much you could save. |
|
Mar 17th, 2017, 17:37 | #20 |
Premier Member
Last Online: Today 16:23
Join Date: Apr 2011
Location: Belfast
|
You work in the industry, so you're naturally biased. What about the 4 out of 5 young drivers that don't have accidents? You're happy for them to foot the bill even though they've done nothing wrong? As for older drivers paying for the mistakes of younger drivers, from what I can see it's a case of all drivers regardless of age are paying to line the pockets of shareholders and stakeholders. Insurance companies crying about increases in taxes is a joke.
Last year as an example, Admiral made pre-tax profits of £193 million in the first 6 months of trading. With an average of 4 million customers, that's an extra *£48.25 per customer. So last year my policy cost nearly an extra £50 because Admiral wanted to boost their profits. Did I get any extra cover for it? Not a chance. *Total yearly profits would obviously increase this price.
__________________
1996 850 T5 - Sold 2003 S40 1.9d - Sold 2004 S60 D5 |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
|
|