Stive Pesley Posted April 11, 2017 Share Posted April 11, 2017 Blimey - surprised to see people sticking up for insurers! Do you work in the business? 28 minutes ago, LesterRam said: Its not so clear cut, if you create your quote through third party websites I:e confused.com or gocompare.com they receive £30/£40 commission which eats into your premium, add risk factors, underwriter and IPT and the insurer is probably not earning anything on new customers, hence why your premium is higher on renewal Well I've never made a claim on house insurance in 25 years of home ownership so they are definitely earning a lot of money from me! Insurance is basically legalised large scale gambling where the insurers make sure they have all their bets hedged. Excuse me if I don't feel sorry for them. Link to comment Share on other sites More sharing options...
Ewe Ram Posted April 11, 2017 Share Posted April 11, 2017 1 minute ago, Wolfie20 said: You've got a roof on your road? Now that's posh!!! Is the proper Derby dialect to say 'down my road'? I must be getting posher Link to comment Share on other sites More sharing options...
Animal is a Ram Posted April 11, 2017 Share Posted April 11, 2017 People will choose to as much as they can online, as you aren't bombarded with all the optional extras immediately. Instead you get three phone calls in the space of a week asking if you're sure you didn't want sunglasses cover, and the Spanish Inquisition as to why you elected not to have additional alloy covers. I think people get miffed about car insurance as the prices just seem so arbitrary. When I moved house, and informed the insurer, they wanted an extra £600 for the last 5 months of the policy. Told them I could get a brand new policy elsewhere for only £100 more, and I'm pretty sure I heard the guy shrug on the other end of the phone. Not to mention the fact that, when you pay all this money, abide by the rules, most insurers won't do anything about a collision with an uninsured driver. Which happened to me. Link to comment Share on other sites More sharing options...
Sith Happens Posted April 11, 2017 Share Posted April 11, 2017 41 minutes ago, StivePesley said: Blimey - surprised to see people sticking up for insurers! Do you work in the business? Well I've never made a claim on house insurance in 25 years of home ownership so they are definitely earning a lot of money from me! Insurance is basically legalised large scale gambling where the insurers make sure they have all their bets hedged. Excuse me if I don't feel sorry for them. I used to yes. There are loads of things about insurers and the way they trade i dont like. Its better now than it was. But i dont think they have their bets hedged as often as you would think, you wouild be surprised how often they incur losses, its why premiums go up. I do see it from the insurer side too, i have witnessed so many times members of the public trying to get one over on insurers or staff. Non disclosing convictions or claims and claiming to have told a certain person about it yet when calls listened back to they didnt mention it at all, seems a cheap trick to try and get an individual into trouble at work to save a few quid. I dont think you should feel sorry for them but try and understand that books have to be balanced somehow. Link to comment Share on other sites More sharing options...
Sith Happens Posted April 11, 2017 Share Posted April 11, 2017 45 minutes ago, Animal is a Ram said: People will choose to as much as they can online, as you aren't bombarded with all the optional extras immediately. Instead you get three phone calls in the space of a week asking if you're sure you didn't want sunglasses cover, and the Spanish Inquisition as to why you elected not to have additional alloy covers. I think people get miffed about car insurance as the prices just seem so arbitrary. When I moved house, and informed the insurer, they wanted an extra £600 for the last 5 months of the policy. Told them I could get a brand new policy elsewhere for only £100 more, and I'm pretty sure I heard the guy shrug on the other end of the phone. Not to mention the fact that, when you pay all this money, abide by the rules, most insurers won't do anything about a collision with an uninsured driver. Which happened to me. I will defend them again here sorry. A change of address while it might seem no different to you can be different to an insurer. It might even be in the next village but all insurers have ratings for areas which are made of up of lots of factors, so if they have had a bad claims record in a certain post code it will potentially be more expenseive, they dont use a global form of rating. And your last point is actually a common misconception with insurance, you pay them to insure your car and nothing else. So if someone hits you its your responsibility to recover any losses off the responsible party, although in most cases people will have some form of legal cover to do this. Even legal cover though they do specify there has to be a reasonable chance of recovery for them to take it on, with an uninsured driver its obviously more difficult. Link to comment Share on other sites More sharing options...
Animal is a Ram Posted April 11, 2017 Share Posted April 11, 2017 1 minute ago, Paul71 said: I will defend them again here sorry. A change of address while it might seem no different to you can be different to an insurer. It might even be in the next village but all insurers have ratings for areas which are made of up of lots of factors, so if they have had a bad claims record in a certain post code it will potentially be more expenseive, they dont use a global form of rating. And your last point is actually a common misconception with insurance, you pay them to insure your car and nothing else. So if someone hits you its your responsibility to recover any losses off the responsible party, although in most cases people will have some form of legal cover to do this. Even legal cover though they do specify there has to be a reasonable chance of recovery for them to take it on, with an uninsured driver its obviously more difficult. Don't get me wrong, I expected an increase in my premium, going from my parents' house in Mickleover, to a rented house in the centre of Derby - but that level of increase is just daft, especially for a short timespan. It would have made the total cost for that year's insurance nearly £1400 - I could, and have, got 2 years worth of cover at my new address for the same money. Link to comment Share on other sites More sharing options...
Sith Happens Posted April 11, 2017 Share Posted April 11, 2017 2 minutes ago, Animal is a Ram said: Don't get me wrong, I expected an increase in my premium, going from my parents' house in Mickleover, to a rented house in the centre of Derby - but that level of increase is just daft, especially for a short timespan. It would have made the total cost for that year's insurance nearly £1400 - I could, and have, got 2 years worth of cover at my new address for the same money. Yeah it seems steep. There will be fees but shouldnt be more than say £50. One thing some insurers do if they dont want business in certain areas is price themselves out the market, i worked in northern ireland a lot and they did this with some areas over there. Link to comment Share on other sites More sharing options...
Stive Pesley Posted April 11, 2017 Share Posted April 11, 2017 6 minutes ago, Paul71 said: I dont think you should feel sorry for them but try and understand that books have to be balanced somehow http://www.telegraph.co.uk/business/2016/08/04/aviva-profits-jump-despite-rock-bottom-rates-and-higher-taxes/ Aviva - the UK's largest insurer reported profits of £1.33 billion in their last set of financial results. Yep - them books have to be balanced somehow Link to comment Share on other sites More sharing options...
Mafiabob Posted April 11, 2017 Share Posted April 11, 2017 4 hours ago, PistoldPete2 said: Secret agent? Recruitment agents are fine if they get me a better job. Most of them don't so I agree they're mostly sh1te I was a recruitment agent once..... never again. Couldn't put up or say the lies they wanted to do Link to comment Share on other sites More sharing options...
LesterRam Posted April 11, 2017 Share Posted April 11, 2017 56 minutes ago, StivePesley said: Blimey - surprised to see people sticking up for insurers! Do you work in the business? Well I've never made a claim on house insurance in 25 years of home ownership so they are definitely earning a lot of money from me! Insurance is basically legalised large scale gambling where the insurers make sure they have all their bets hedged. Excuse me if I don't feel sorry for them. no don't feel sorry for them, it is a ultra competitive niche and they survive but government are adding too much stealth tax to your premium and unfortunately it has to be passed on, with IPT and new legislation on injury claims that is likely to increase premiums year on year, they cant pick on unscrupulous benefit cheats or the self employed loophole so the working class takes the hit. http://www.telegraph.co.uk/news/2017/02/27/insurance-premiums-young-drivers-could-rise-1000-government/ If anybody thinks that newly qualified young drivers should be saddled with £6000 worth of insurance per year needs help, we all need to shoulder this burden because we are stopping young drivers mobility and that clearly isn't right. Link to comment Share on other sites More sharing options...
LesterRam Posted April 11, 2017 Share Posted April 11, 2017 9 minutes ago, StivePesley said: http://www.telegraph.co.uk/business/2016/08/04/aviva-profits-jump-despite-rock-bottom-rates-and-higher-taxes/ Aviva - the UK's largest insurer reported profits of £1.33 billion in their last set of financial results. Yep - them books have to be balanced somehow you have to pay for me sweety, I am damn good though Link to comment Share on other sites More sharing options...
Wolfie Posted April 11, 2017 Share Posted April 11, 2017 2 hours ago, StivePesley said: Insurance companies that send you a renewal notice which is a massive hike on the previous year. So you call them to cancel and they miraculously discover that they can do it for a greatly reduced figure. How utterly unethical is that? These things auto-renew so how many people who simply don't notice the figure has changed are being completely ripped off? I agree but really it's no different to any other company who have good deals for a while & then punish the lazy by hiking them afterwards: SKY/Virgin Ultility companies Mortgage providers Savings accounts where the interest rate drops to virtually zero after 12 months. Clearly there is a % of customers who make it worthwhile for them to do this. However, my car insurance is up for renewal and to my utter shock, the new price from my current insurer came in £25 less than last year - and cheaper than any other quote I found with the ******* meerkats. £270 annual premium for a 2 year old 3 series is a bargain!. On the other side, my fixed gas & electric deal has just run out & the Co-op energy's standard price I would have reverted to was an inrease of 60% on what I was paying. Got a letter when I signed up with someoone else saying "We're sorry you're leaving us" - yes I bet you bloody are at those prices. That's the free bar at the Chrimbo party gone. Link to comment Share on other sites More sharing options...
Sith Happens Posted April 11, 2017 Share Posted April 11, 2017 9 minutes ago, StivePesley said: http://www.telegraph.co.uk/business/2016/08/04/aviva-profits-jump-despite-rock-bottom-rates-and-higher-taxes/ Aviva - the UK's largest insurer reported profits of £1.33 billion in their last set of financial results. Yep - them books have to be balanced somehow Aviva are actually one insurer who are ahead of others in their rating structures, this doesnt surprise me they are making huge profits, its not just from car insurance though, they do all sorts, life insurance is massive for them. I guess its that profit is a dirty word again, take TUI who own Thomson for example, they have profits around half a billion a year, would that stop you booking a holiday with them? Link to comment Share on other sites More sharing options...
Sith Happens Posted April 11, 2017 Share Posted April 11, 2017 5 minutes ago, LesterRam said: no don't feel sorry for them, it is a ultra competitive niche and they survive but government are adding too much stealth tax to your premium and unfortunately it has to be passed on, with IPT and new legislation on injury claims that is likely to increase premiums year on year, they cant pick on unscrupulous benefit cheats or the self employed loophole so the working class takes the hit. http://www.telegraph.co.uk/news/2017/02/27/insurance-premiums-young-drivers-could-rise-1000-government/ If anybody thinks that newly qualified young drivers should be saddled with £6000 worth of insurance per year needs help, we all need to shoulder this burden because we are stopping young drivers mobility and that clearly isn't right. Insurance for young drivers is crazy, but sadly not unfounded. Every single one of my nephews and nieces wrote their cars off in the first 12 months of being insured, ok the cars they had had little value but smash it into the back of a 30,000 jag and it causes a hell of a lot of damage. Link to comment Share on other sites More sharing options...
Animal is a Ram Posted April 11, 2017 Share Posted April 11, 2017 6 minutes ago, Paul71 said: Aviva are actually one insurer who are ahead of others in their rating structures, this doesnt surprise me they are making huge profits, its not just from car insurance though, they do all sorts, life insurance is massive for them. I guess its that profit is a dirty word again, take TUI who own Thomson for example, they have profits around half a billion a year, would that stop you booking a holiday with them? A holiday isn't a legal requirement.. It was Aviva - underwriting Quotemehappy - that tried that £600 trick.. Link to comment Share on other sites More sharing options...
LesterRam Posted April 11, 2017 Share Posted April 11, 2017 1 minute ago, Paul71 said: Insurance for young drivers is crazy, but sadly not unfounded. Every single one of my nephews and nieces wrote their cars off in the first 12 months of being insured, ok the cars they had had little value but smash it into the back of a 30,000 jag and it causes a hell of a lot of damage. you cant say that, you cant compare your nephews and nieces misfortune with the masses, yes your at a greater risk but if you pass your test at 85 and drive you are more likely to have less hazard perception ability and slower reflex and increase risk factor but lower premium, I had this out when I was on the ABI panel, £6000 is excessive... Link to comment Share on other sites More sharing options...
eddie Posted April 11, 2017 Share Posted April 11, 2017 2 hours ago, StivePesley said: Insurance companies that send you a renewal notice which is a massive hike on the previous year. So you call them to cancel and they miraculously discover that they can do it for a greatly reduced figure. How utterly unethical is that? These things auto-renew so how many people who simply don't notice the figure has changed are being completely ripped off? Yep. I had that 2 weeks ago with the AA. 10 minutes with meerkats and I found one for £150 less. One phone call and the AA 'somehow' matched it. Link to comment Share on other sites More sharing options...
Animal is a Ram Posted April 11, 2017 Share Posted April 11, 2017 In the interest of balance - LV were most useful for my parents after they returned to the car after a Derby game and the rear bumper torn off and rear 3/4 panel/light cluster hit, no note left. Free courtesy car, managed to recover the CCTV footage. Car returned in 2 weeks looking as new as a 10 year old battered Avensis could I think also, people are irked by insurance as they never have to claim, so aren't seeing any return on what they pay for. Not the insurers fault, but having spent around the £8k mark in 6 years of driving and never making any claims.. Also Bell, who I am insured with, my auto-renew price actually went down, gold star for them Link to comment Share on other sites More sharing options...
Stive Pesley Posted April 11, 2017 Share Posted April 11, 2017 19 minutes ago, Paul71 said: I guess its that profit is a dirty word again It's not "profit" that is the dirty word - it's the £1.33 billion bit that feels, you know, just a bit dirty when they are ripping off pensioners and other vulnerable people by massively hiking renewals hoping they don't notice. Link to comment Share on other sites More sharing options...
LesterRam Posted April 11, 2017 Share Posted April 11, 2017 I will point out that your risk factor increases for bad postcode spread, increase footfall like city centres is a multiple, and you don't need to mention your travel 20000 miles per annum, you clearly only travel 7000 miles per annum (less road exposure decreases premium), your car is used for domestic/social and has no business usage and your occupation is not on the high risk register, being a bomb disposal expert and using the car for travel might be a red flag Link to comment Share on other sites More sharing options...
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