Cyclone Posted September 14, 2011 Share Posted September 14, 2011 Not sure if it will happen but heard on recent news that the government are blaming the increasing costs of insurance only partly on the spurious injury claims but largely on the shoulders of insurers who sell your data to the ambulance chasers when you make a claim. Thus encouraging the dodgy claims. The answer? Stop the insurers from selling your data. No. If we stop the insurers selling the data we cut off a revenue stream for them, how do you think they will replace the lost income? That's right, get it out of premium increases. It's revenue, but it's also a cost (as they have to pay out to other companies doing the same thing), and worse with each payout some of the money leaves the industry and stays with the ambulance chasers. So as a net thing it costs the entire industry money. It's like a shell game, but with someone shaving a bit of the pea every time! Maybe I have too simplistic a view on this but I really don't see how stopping sale of data will reduce premiums. Besides, I'd rather the ambulance chases pay that money to insurance companies than I do in my premium! I doubt it would immediately, but as the costs of the companies fall over the space of several years natural competition should encourage them to reduce their premiums, it is a highly competitive market by all appearances. Link to comment Share on other sites More sharing options...
truman Posted September 15, 2011 Share Posted September 15, 2011 auto. If I owed an insurance company, and you did, and the OP did; and we 3 owned all the insurance trade; and what we were offering was policies that were a legal requirement; then what if we all pop for a pint, and say to each other - "let's all three of us add 50%" to our policies... would you consider that a monopoly or not? (that's not meant as a trick question btw) The only legal requirement of a policy is the Road Traffic Act part..ie 3rd party..the rest, fire/theft comprehensive etc, is up to you..you're the only person who will benefit from these bits..it's up to you how much you think they're worth to you..as different companies will charge different prices for the same cover on the same car how can that be a monopoly..? Link to comment Share on other sites More sharing options...
Obelix Posted September 15, 2011 Share Posted September 15, 2011 Now you have made me think about something... Could we, get insured on the continent with insurance that would cover you in other European countries (IE: the UK) in effect taking our money to European banks that are not out to rip us off like here ? If its cheaper to go get French insurance that would cover me in the UK then that's what Im going to do next year. You can and it's easy to do. One of my cars is insured with a UK based company, the other is insured by BMW as part of their sales package - it's managed and run out of Germany and the premium is in Euros - perfectly fine even though the car spends most of it's time in the UK. Link to comment Share on other sites More sharing options...
walkertelecoms Posted September 15, 2011 Share Posted September 15, 2011 Am I not right in thinking it's all about your postcode too, more so? Some bloke in Leeds had a quote for a basic car, nothing fancy just cant remember the model, about £40K for the year, and a similar area £30K for a nurse. Health care workers are the cheapest to insure too apparently. Mines been around £300/yr for the past 5 years without change, my quote this year was about a tenner more. Link to comment Share on other sites More sharing options...
walkertelecoms Posted September 15, 2011 Share Posted September 15, 2011 ...and the point they hike your insurance up even if you were not at fault during an incident, because they say "someone being involved in an accident, fault or not, is more likely to be involved in future accidents". Licence to print money. Link to comment Share on other sites More sharing options...
ElasticMan Posted September 15, 2011 Share Posted September 15, 2011 Does anyone else think that car insurance companies are taking the mik just listen to this!!! 30 yr old male driving 1.4 corsa 8v valued at 800 pounds 3000 miles a year 6yrs no claims past test in 1999no accidents/claims 350 compulsary excess and 795 for policy which last year was only 338 what a liberty!!!!!!lol your views,rediculous qoutes etc etc......and any cheap insurance firms Try increasing your estimated number of miles to 10,000 Someone who only drives 3,000 a year lacks experience and is a greater risk. Link to comment Share on other sites More sharing options...
Cyclone Posted September 15, 2011 Share Posted September 15, 2011 Try increasing your estimated number of miles to 10,000 Someone who only drives 3,000 a year lacks experience and is a greater risk. What a load of old cobblers. It could be a 2nd (or 3rd) vehicle, it could be that they've driven hundreds of thousands of miles in the past. The only conclusion you can draw from low mileage is that the car will be on the road less often and is therefore at a lower risk. Link to comment Share on other sites More sharing options...
vize Posted September 20, 2011 Author Share Posted September 20, 2011 exactly thats what i said i used to drive for a living i can drive buses cars etc etc and have only ever had 1 accident when i first pass me test at 17 now 30 with 6yrs no claims and they want as much as when i started driving taking the p#ss i was doing 3000 a week in my job and never had a bump what they dont understand is they are contributing to unemployment as by tarde i am a painter and decorator tried getting insurance for a van and they want 5000 pound (no i didnt miss the decimal point )lol hence pricing me out of work bout time the ombudsmen got involved Link to comment Share on other sites More sharing options...
foxy lady Posted September 20, 2011 Share Posted September 20, 2011 Insurance companies are granted a monopoly by the state, it is a disgrace. Somebody gets injured and the NHS picks up the bill, an NHS paid for by your taxes. The high insurance costs ensure big bonuses for banker scum. You are being robbed! How can there be a monopoly when there are dozens of competing companies? That's as daft as saying that car manufacturers have a monopoly on making cars. By the way the NHS sends bills to insurance companies to pay for the treatment of those injured in road accidents. Link to comment Share on other sites More sharing options...
mike84 Posted September 20, 2011 Share Posted September 20, 2011 Insurance companies are granted a monopoly by the state, it is a disgrace. Somebody gets injured and the NHS picks up the bill, an NHS paid for by your taxes. The high insurance costs ensure big bonuses for banker scum. You are being robbed! wrong, the NHS recovers costs from insurers... Link to comment Share on other sites More sharing options...
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